VANICOM MANAGEMENT: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
VANICOM MANAGEMENT
Largest movements
- Cash -€38,988
down €38,988 (-66.3%), from €58,795 to €19,807
mainly Investment in fixed assets (net) (-€68,754) and Tax, wage and social debts (-€14,233)
- Tangible fixed assets +€28,379
up €28,379 (+6.9%), from €411,110 to €439,490
of which Furniture and vehicles: +€21,404
- Tax, wage and social debts -€14,233
down €14,233 (-64.0%), from €22,229 to €7,997
of which Taxes: -€17,433
- Accrued charges and deferred income +€8,071
up €8,071 (+342%), from €2,362 to €10,433
- Other debts -€5,568
down €5,568 (-2.5%), from €225,619 to €220,051
- Other operating charges -€39,169
down €39,169 (-95.5%), from €41,005 to €1,836
- Depreciation +€29,350
up €29,350 (+266%), from €11,025 to €40,374
- Gross operating margin -€10,012
down €10,012 (-16.1%), from €62,369 to €52,357
- Financial charges +€5,494
up €5,494 (+207%), from €2,658 to €8,152
- Taxes -€1,574
down €1,574 (-55.5%), from €2,838 to €1,264
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €486,708 | €475,368 | -€11,339 | -2.3% |
| Fixed assets | 21/28 | €411,110 | €439,490 | +€28,379 | +6.9% |
| Tangible fixed assets | 22/27 | €411,110 | €439,490 | +€28,379 | +6.9% |
| Land and buildings | 22 | €332,802 | €337,596 | +€4,794 | +1.4% |
| Plant, machinery and equipment | 23 | €1,332 | €3,515 | +€2,182 | +164% |
| Furniture and vehicles | 24 | €76,976 | €98,380 | +€21,404 | +27.8% |
| Current assets | 29/58 | €75,597 | €35,878 | -€39,719 | -52.5% |
| Amounts receivable within one year | 40/41 | €15,297 | €13,068 | -€2,229 | -14.6% |
| Trade receivables | 40 | €14,520 | €13,068 | -€1,452 | -10.0% |
| Other amounts receivable | 41 | €777 | €0 | -€777 | -100% |
| Cash at bank and in hand | 54/58 | €58,795 | €19,807 | -€38,988 | -66.3% |
| Deferred charges and accrued income | 490/1 | €1,506 | €3,004 | +€1,498 | +99.5% |
| Total equity and liabilities | 10/49 | €486,708 | €475,368 | -€11,339 | -2.3% |
| Equity | 10/15 | €119,153 | €119,893 | +€740 | +0.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €30,989 | €31,729 | +€740 | +2.4% |
| Distributable reserves | 133 | €30,989 | €31,729 | +€740 | +2.4% |
| Profit (loss) carried forward | 14 | €83,164 | €83,164 | = | 0.0% |
| Amounts payable | 17/49 | €367,555 | €355,475 | -€12,080 | -3.3% |
| Amounts payable after more than one year | 17 | €114,000 | €114,000 | = | 0.0% |
| Financial debts | 170/4 | €114,000 | €114,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €251,193 | €231,042 | -€20,151 | -8.0% |
| Trade debts | 44 | €3,344 | €2,995 | -€350 | -10.5% |
| Suppliers | 440/4 | €3,344 | €2,995 | -€350 | -10.5% |
| Taxes, remuneration and social security | 45 | €22,229 | €7,997 | -€14,233 | -64.0% |
| Taxes | 450/3 | €22,229 | €4,797 | -€17,433 | -78.4% |
| Remuneration and social security | 454/9 | - | €3,200 | +€3,200 | |
| Other amounts payable | 47/48 | €225,619 | €220,051 | -€5,568 | -2.5% |
| Accrued charges and deferred income | 492/3 | €2,362 | €10,433 | +€8,071 | +342% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,025 | €40,374 | +€29,350 | +266% |
| Other operating charges | 640/8 | €41,005 | €1,836 | -€39,169 | -95.5% |
| Gross operating margin | 9900 | €62,369 | €52,357 | -€10,012 | -16.1% |
| Operating profit (loss) | 9901 | €10,340 | €10,147 | -€192 | -1.9% |
| Financial income | 75/76B | - | €9 | +€9 | |
| Recurring financial income | 75 | - | €9 | +€9 | |
| Financial charges | 65/66B | €2,658 | €8,152 | +€5,494 | +207% |
| Recurring financial charges | 65 | €2,658 | €8,152 | +€5,494 | +207% |
| Profit (loss) for the period before taxes | 9903 | €7,682 | €2,005 | -€5,677 | -73.9% |
| Income taxes | 67/77 | €2,838 | €1,264 | -€1,574 | -55.5% |
| Profit (loss) for the period | 9904 | €4,844 | €740 | -€4,103 | -84.7% |
| Profit (loss) for the period to be appropriated | 9905 | €4,844 | €740 | -€4,103 | -84.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.