VANIRO: 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.
VANIRO
Largest movements
- Cash +€22,692
up €22,692 (+45.5%), from €49,877 to €72,569
mainly Depreciation (+€14,559) and Net result for the year (+€12,370)
- Tangible fixed assets -€12,558
down €12,558 (-11.7%), from €106,903 to €94,345
of which Plant, machinery and equipment: -€7,741
- Stocks and contracts +€5,260
up €5,260 (+81.1%), from €6,488 to €11,748
- Intangible fixed assets -€2,000
down €2,000 (-21.1%), from €9,500 to €7,500
- Reserves +€12,370
new in 2025: €12,370
- Tax, wage and social debts +€7,289
up €7,289 (+46.8%), from €15,566 to €22,855
of which Taxes: +€7,708
- Debts after one year -€6,004
down €6,004 (-7.0%), from €85,684 to €79,680
- Other debts -€3,155
down €3,155 (-6.6%), from €47,642 to €44,487
- Purchases and services -€86,505
no longer reported in 2025 (was €86,505)
- Turnover +€39,639
up €39,639 (+18.2%), from €218,296 to €257,935
- Gross operating margin +€31,595
up €31,595 (+23.3%), from €135,794 to €167,389
- Staff costs +€17,669
up €17,669 (+15.6%), from €112,957 to €130,626
- Taxes +€4,348
up €4,348 (+2077.5%), from €209 to €4,557
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.
Cash bridge derived
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 | €173,908 | €186,602 | +€12,694 | +7.3% |
| Fixed assets | 21/28 | €116,844 | €102,285 | -€14,559 | -12.5% |
| Intangible fixed assets | 21 | €9,500 | €7,500 | -€2,000 | -21.1% |
| Tangible fixed assets | 22/27 | €106,903 | €94,345 | -€12,558 | -11.7% |
| Plant, machinery and equipment | 23 | €68,813 | €61,072 | -€7,741 | -11.2% |
| Furniture and vehicles | 24 | €38,090 | €33,273 | -€4,817 | -12.6% |
| Financial fixed assets | 28 | €440 | €440 | -€0 | -0.1% |
| Current assets | 29/58 | €57,064 | €84,317 | +€27,253 | +47.8% |
| Stocks and contracts in progress | 3 | €6,488 | €11,748 | +€5,260 | +81.1% |
| Stocks | 30/36 | €6,488 | €11,748 | +€5,260 | +81.1% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €49,877 | €72,569 | +€22,692 | +45.5% |
| Deferred charges and accrued income | 490/1 | €699 | - | -€699 | |
| Total equity and liabilities | 10/49 | €173,908 | €186,602 | +€12,694 | +7.3% |
| Equity | 10/15 | €11,979 | €24,349 | +€12,370 | +103.3% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | - | €12,370 | +€12,370 | |
| Distributable reserves | 133 | - | €12,370 | +€12,370 | |
| Profit (loss) carried forward | 14 | €4,979 | €4,979 | +€0 | 0.0% |
| Amounts payable | 17/49 | €161,929 | €162,253 | +€324 | +0.2% |
| Amounts payable after more than one year | 17 | €85,684 | €79,680 | -€6,004 | -7.0% |
| Financial debts | 170/4 | €85,684 | €79,680 | -€6,004 | -7.0% |
| Amounts payable within one year | 42/48 | €75,129 | €81,672 | +€6,543 | +8.7% |
| Current portion of amounts payable after more than one year | 42 | €5,887 | €7,084 | +€1,197 | +20.3% |
| Trade debts | 44 | €6,034 | €7,246 | +€1,212 | +20.1% |
| Suppliers | 440/4 | €6,034 | €7,246 | +€1,212 | +20.1% |
| Taxes, remuneration and social security | 45 | €15,566 | €22,855 | +€7,289 | +46.8% |
| Taxes | 450/3 | €5,220 | €12,928 | +€7,708 | +147.7% |
| Remuneration and social security | 454/9 | €10,346 | €9,927 | -€419 | -4.0% |
| Other amounts payable | 47/48 | €47,642 | €44,487 | -€3,155 | -6.6% |
| Accrued charges and deferred income | 492/3 | €1,116 | €901 | -€215 | -19.3% |
| Turnover | 70 | €218,296 | €257,935 | +€39,639 | +18.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €86,505 | - | -€86,505 | |
| Remuneration, social security and pensions | 62 | €112,957 | €130,626 | +€17,669 | +15.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,013 | €14,559 | +€546 | +3.9% |
| Other operating charges | 640/8 | €2,145 | €2,147 | +€2 | +0.1% |
| Non-recurring operating charges | 66A | €140 | - | -€140 | |
| Gross operating margin | 9900 | €135,794 | €167,389 | +€31,595 | +23.3% |
| Operating profit (loss) | 9901 | €6,539 | €20,057 | +€13,518 | +206.7% |
| Financial income | 75/76B | €254 | €47 | -€207 | -81.5% |
| Recurring financial income | 75 | €254 | €47 | -€207 | -81.5% |
| Financial charges | 65/66B | €3,706 | €3,177 | -€529 | -14.3% |
| Recurring financial charges | 65 | €3,706 | €3,177 | -€529 | -14.3% |
| Profit (loss) for the period before taxes | 9903 | €3,087 | €16,927 | +€13,840 | +448.3% |
| Income taxes | 67/77 | €209 | €4,557 | +€4,348 | +2077.5% |
| Profit (loss) for the period | 9904 | €2,878 | €12,370 | +€9,492 | +329.9% |
| Profit (loss) for the period to be appropriated | 9905 | €2,878 | €12,370 | +€9,492 | +329.9% |
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 1 October 2026 via checked.be.