VANINA: 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.
VANINA
Largest movements
- Tangible fixed assets +€42,242
up €42,242 (+100%), from €42,208 to €84,450
of which Furniture and vehicles: +€48,296
- Cash +€37,712
up €37,712 (+160%), from €23,555 to €61,267
mainly Net result for the year (+€27,451) and Trade debts (+€25,940)
- Receivables within one year +€3,568
up €3,568 (+32.1%), from €11,123 to €14,691
of which Other amounts receivable: +€2,025
- Profit (loss) carried forward +€27,451
up €27,451 (+870%), from €3,154 to €30,605
- Trade debts +€25,940
up €25,940 (+161%), from €16,106 to €42,046
- Debts after one year +€23,963
new in 2025: €23,963
- Other debts +€6,977
up €6,977 (+15.6%), from €44,696 to €51,673
- Current portion of long-term debt +€5,580
new in 2025: €5,580
- Gross operating margin +€6,618
up €6,618 (+6.0%), from €109,765 to €116,383
- Staff costs +€5,757
up €5,757 (+8.1%), from €71,011 to €76,768
- Depreciation -€3,751
down €3,751 (-28.4%), from €13,221 to €9,470
- Financial charges -€3,563
down €3,563 (-65.2%), from €5,467 to €1,904
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 | €84,187 | €167,263 | +€83,076 | +98.7% |
| Fixed assets | 21/28 | €42,358 | €84,600 | +€42,242 | +99.7% |
| Tangible fixed assets | 22/27 | €42,208 | €84,450 | +€42,242 | +100% |
| Plant, machinery and equipment | 23 | €28,214 | €22,161 | -€6,053 | -21.5% |
| Furniture and vehicles | 24 | €13,994 | €62,290 | +€48,296 | +345% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €41,829 | €82,663 | +€40,834 | +97.6% |
| Stocks and contracts in progress | 3 | €3,020 | €3,275 | +€255 | +8.4% |
| Stocks | 30/36 | €3,020 | €3,275 | +€255 | +8.4% |
| Amounts receivable within one year | 40/41 | €11,123 | €14,691 | +€3,568 | +32.1% |
| Trade receivables | 40 | €3,297 | €4,840 | +€1,543 | +46.8% |
| Other amounts receivable | 41 | €7,826 | €9,851 | +€2,025 | +25.9% |
| Cash at bank and in hand | 54/58 | €23,555 | €61,267 | +€37,712 | +160% |
| Deferred charges and accrued income | 490/1 | €4,131 | €3,430 | -€702 | -17.0% |
| Total equity and liabilities | 10/49 | €84,187 | €167,263 | +€83,076 | +98.7% |
| Equity | 10/15 | €11,214 | €38,665 | +€27,451 | +245% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,154 | €30,605 | +€27,451 | +870% |
| Amounts payable | 17/49 | €72,973 | €128,598 | +€55,625 | +76.2% |
| Amounts payable after more than one year | 17 | - | €23,963 | +€23,963 | |
| Financial debts | 170/4 | - | €23,963 | +€23,963 | |
| Amounts payable within one year | 42/48 | €72,973 | €104,635 | +€31,662 | +43.4% |
| Current portion of amounts payable after more than one year | 42 | - | €5,580 | +€5,580 | |
| Trade debts | 44 | €16,106 | €42,046 | +€25,940 | +161% |
| Suppliers | 440/4 | €16,106 | €42,046 | +€25,940 | +161% |
| Advances received on contracts in progress | 46 | €3,495 | - | -€3,495 | |
| Taxes, remuneration and social security | 45 | €8,676 | €5,337 | -€3,340 | -38.5% |
| Remuneration and social security | 454/9 | €8,676 | €5,337 | -€3,340 | -38.5% |
| Other amounts payable | 47/48 | €44,696 | €51,673 | +€6,977 | +15.6% |
| Remuneration, social security and pensions | 62 | €71,011 | €76,768 | +€5,757 | +8.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,221 | €9,470 | -€3,751 | -28.4% |
| Other operating charges | 640/8 | €454 | €184 | -€269 | -59.3% |
| Gross operating margin | 9900 | €109,765 | €116,383 | +€6,618 | +6.0% |
| Operating profit (loss) | 9901 | €25,079 | €29,960 | +€4,881 | +19.5% |
| Financial income | 75/76B | €1 | €1 | -€0 | -5.0% |
| Recurring financial income | 75 | €1 | €1 | -€0 | -5.0% |
| Financial charges | 65/66B | €5,467 | €1,904 | -€3,563 | -65.2% |
| Recurring financial charges | 65 | €5,467 | €1,904 | -€3,563 | -65.2% |
| Profit (loss) for the period before taxes | 9903 | €19,613 | €28,057 | +€8,444 | +43.1% |
| Income taxes | 67/77 | €694 | €606 | -€88 | -12.7% |
| Profit (loss) for the period | 9904 | €18,919 | €27,451 | +€8,532 | +45.1% |
| Profit (loss) for the period to be appropriated | 9905 | €18,919 | €27,451 | +€8,532 | +45.1% |
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 26 October 2026 via checked.be.