VANIOS: what changed
Two fiscal 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.
VANIOS
Largest movements
- Cash +€227,928
up €227,928 (+74.3%), from €306,723 to €534,651
mainly Net result for the year (+€167,314) and Receivables within one year (+€95,518)
- Receivables within one year -€95,518
down €95,518 (-57.3%), from €166,844 to €71,325
of which Trade receivables: -€95,518
- Reserves +€81,400
up €81,400 (+397.8%), from €20,460 to €101,860
- Profit (loss) carried forward +€67,314
up €67,314 (+13.6%), from €495,829 to €563,143
- Trade debts -€17,839
down €17,839 (-10.8%), from €164,970 to €147,130
- Gross operating margin +€84,871
up €84,871 (+29.7%), from €285,719 to €370,589
- Staff costs +€23,629
up €23,629 (+21.9%), from €107,696 to €131,325
- Taxes +€19,728
up €19,728 (+42.0%), from €46,919 to €66,647
From the 31-12-2024 result to the 31-12-2025 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.
Cash bridge derived
Derived from the 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €726,571 | €861,548 | +€134,978 | +18.6% |
| Fixed assets | 21/28 | €7,957 | €8,024 | +€67 | +0.8% |
| Tangible fixed assets | 22/27 | €7,914 | €7,981 | +€67 | +0.8% |
| Plant, machinery and equipment | 23 | €1,679 | €1,125 | -€554 | -33.0% |
| Furniture and vehicles | 24 | €6,235 | €6,857 | +€621 | +10.0% |
| Financial fixed assets | 28 | €42 | €42 | = | 0.0% |
| Current assets | 29/58 | €718,614 | €853,525 | +€134,911 | +18.8% |
| Stocks and contracts in progress | 3 | €44,426 | €46,982 | +€2,556 | +5.8% |
| Stocks | 30/36 | €44,426 | €46,982 | +€2,556 | +5.8% |
| Amounts receivable within one year | 40/41 | €166,844 | €71,325 | -€95,518 | -57.3% |
| Trade receivables | 40 | €166,838 | €71,320 | -€95,518 | -57.3% |
| Other amounts receivable | 41 | €5 | €5 | = | 0.0% |
| Current investments | 50/53 | €200,000 | €200,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €306,723 | €534,651 | +€227,928 | +74.3% |
| Deferred charges and accrued income | 490/1 | €622 | €567 | -€55 | -8.9% |
| Total equity and liabilities | 10/49 | €726,571 | €861,548 | +€134,978 | +18.6% |
| Equity | 10/15 | €516,289 | €665,003 | +€148,714 | +28.8% |
| Reserves | 13 | €20,460 | €101,860 | +€81,400 | +397.8% |
| Distributable reserves | 133 | €20,460 | €101,860 | +€81,400 | +397.8% |
| Profit (loss) carried forward | 14 | €495,829 | €563,143 | +€67,314 | +13.6% |
| Amounts payable | 17/49 | €210,282 | €196,546 | -€13,736 | -6.5% |
| Amounts payable within one year | 42/48 | €210,282 | €196,546 | -€13,736 | -6.5% |
| Trade debts | 44 | €164,970 | €147,130 | -€17,839 | -10.8% |
| Suppliers | 440/4 | €164,970 | €147,130 | -€17,839 | -10.8% |
| Advances received on contracts in progress | 46 | €392 | €392 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €42,874 | €46,648 | +€3,774 | +8.8% |
| Taxes | 450/3 | €30,818 | €31,465 | +€646 | +2.1% |
| Remuneration and social security | 454/9 | €12,056 | €15,184 | +€3,128 | +25.9% |
| Other amounts payable | 47/48 | €2,046 | €2,375 | +€329 | +16.1% |
| Remuneration, social security and pensions | 62 | €107,696 | €131,325 | +€23,629 | +21.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,361 | €3,430 | +€69 | +2.1% |
| Other operating charges | 640/8 | €753 | €1,841 | +€1,088 | +144.6% |
| Non-recurring operating charges | 66A | €8,960 | - | -€8,960 | |
| Gross operating margin | 9900 | €285,719 | €370,589 | +€84,871 | +29.7% |
| Operating profit (loss) | 9901 | €164,950 | €233,994 | +€69,044 | +41.9% |
| Financial income | 75/76B | €3,417 | €2,272 | -€1,146 | -33.5% |
| Recurring financial income | 75 | €3,417 | €2,272 | -€1,146 | -33.5% |
| Financial charges | 65/66B | €2,345 | €2,305 | -€40 | -1.7% |
| Recurring financial charges | 65 | €2,345 | €2,305 | -€40 | -1.7% |
| Profit (loss) for the period before taxes | 9903 | €166,022 | €233,960 | +€67,939 | +40.9% |
| Income taxes | 67/77 | €46,919 | €66,647 | +€19,728 | +42.0% |
| Profit (loss) for the period | 9904 | €119,103 | €167,314 | +€48,211 | +40.5% |
| Profit (loss) for the period to be appropriated | 9905 | €119,103 | €167,314 | +€48,211 | +40.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.