VANIVER: 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.
What changed
VANIVER
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€78,724
2024 · €80,732-€2,008
Equity
€845,784
2024 · €767,060+€78,724
Cash
€13,324
2024 · €17,378-€4,054
Balance sheet total
€1.2m
2024 · €1.2m+€20,675
Largest movements
Assets
- Receivables within one year +€51,034
up €51,034 (+9.3%), from €546,699 to €597,733
of which Other amounts receivable: +€66,384
- Tangible fixed assets -€30,269
down €30,269 (-6.5%), from €468,718 to €438,449
of which Land and buildings: -€29,334
Equity and liabilities
- Reserves +€78,724
up €78,724 (+13.1%), from €602,140 to €680,864
of which Distributable reserves: +€62,735
- Other debts -€45,505
down €45,505 (-19.3%), from €235,527 to €190,022
Income statement
- Taxes +€3,895
up €3,895 (+13.8%), from €28,313 to €32,208
- Financial income +€2,414
up €2,414 (+29.7%), from €8,115 to €10,529
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.
Result 2024
€80,732
Gross operating margin
-€575
Depreciation
+€219
Other operating charges
-€604
Financial income
+€2,414
Financial charges
+€433
Taxes
-€3,895
Result 2025
€78,724
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.
From operations
+€462
Investment
-€434
Financing
-€4,082
Cash 2024
€17,378
From operations (derived)
+€462
Net result for the year
+€78,724
Depreciation
+€30,269
Receivables within one year
-€51,034
Deferred charges and accrued income
-€3,530
Provisions
-€1,687
Trade debts
+€7,239
Tax, wage and social debts
-€4,192
Other debts
-€45,505
Accrued charges and deferred income
-€9,822
Investment (derived)
-€434
Investment in fixed assets (net)
-€70
Current investments
-€364
Financing
-€4,082
Current portion of long-term debt
-€4,082
Contributions, distributions and other
-€0
Cash 2025
€13,324
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,189,589 | €1,210,265 | +€20,675 | +1.7% |
| Fixed assets | 21/28 | €469,111 | €438,912 | -€30,199 | -6.4% |
| Tangible fixed assets | 22/27 | €468,718 | €438,449 | -€30,269 | -6.5% |
| Land and buildings | 22 | €466,007 | €436,673 | -€29,334 | -6.3% |
| Plant, machinery and equipment | 23 | €830 | €710 | -€121 | -14.5% |
| Furniture and vehicles | 24 | €1,880 | €1,066 | -€814 | -43.3% |
| Financial fixed assets | 28 | €393 | €463 | +€70 | +17.8% |
| Current assets | 29/58 | €720,478 | €771,353 | +€50,874 | +7.1% |
| Amounts receivable within one year | 40/41 | €546,699 | €597,733 | +€51,034 | +9.3% |
| Trade receivables | 40 | €231,381 | €216,031 | -€15,350 | -6.6% |
| Other amounts receivable | 41 | €315,318 | €381,702 | +€66,384 | +21.1% |
| Current investments | 50/53 | €136,054 | €136,418 | +€364 | +0.3% |
| Cash at bank and in hand | 54/58 | €17,378 | €13,324 | -€4,054 | -23.3% |
| Deferred charges and accrued income | 490/1 | €20,347 | €23,877 | +€3,530 | +17.3% |
| Total equity and liabilities | 10/49 | €1,189,589 | €1,210,265 | +€20,675 | +1.7% |
| Equity | 10/15 | €767,060 | €845,784 | +€78,724 | +10.3% |
| Contributions | 10/11 | €164,920 | €164,920 | = | 0.0% |
| Capital | 10 | €164,920 | €164,920 | = | 0.0% |
| Issued capital | 100 | €164,920 | €164,920 | = | 0.0% |
| Reserves | 13 | €602,140 | €680,864 | +€78,724 | +13.1% |
| Non-distributable reserves | 130/1 | €16,492 | €16,492 | = | 0.0% |
| Legal reserve | 130 | €16,492 | €16,492 | = | 0.0% |
| Tax-exempt reserves | 132 | €139,361 | €155,350 | +€15,989 | +11.5% |
| Distributable reserves | 133 | €446,288 | €509,023 | +€62,735 | +14.1% |
| Provisions and deferred taxes | 16 | €11,370 | €9,683 | -€1,687 | -14.8% |
| Deferred taxes | 168 | €11,370 | €9,683 | -€1,687 | -14.8% |
| Amounts payable | 17/49 | €411,159 | €354,797 | -€56,362 | -13.7% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €387,678 | €341,138 | -€46,540 | -12.0% |
| Current portion of amounts payable after more than one year | 42 | €4,082 | €0 | -€4,082 | -100.0% |
| Trade debts | 44 | €143,502 | €150,741 | +€7,239 | +5.0% |
| Suppliers | 440/4 | €143,502 | €150,741 | +€7,239 | +5.0% |
| Taxes, remuneration and social security | 45 | €4,567 | €375 | -€4,192 | -91.8% |
| Taxes | 450/3 | €4,567 | €375 | -€4,192 | -91.8% |
| Other amounts payable | 47/48 | €235,527 | €190,022 | -€45,505 | -19.3% |
| Accrued charges and deferred income | 492/3 | €23,481 | €13,659 | -€9,822 | -41.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,488 | €30,269 | -€219 | -0.7% |
| Other operating charges | 640/8 | €9,985 | €10,589 | +€604 | +6.1% |
| Gross operating margin | 9900 | €151,001 | €150,426 | -€575 | -0.4% |
| Operating profit (loss) | 9901 | €110,528 | €109,568 | -€960 | -0.9% |
| Financial income | 75/76B | €8,115 | €10,529 | +€2,414 | +29.7% |
| Recurring financial income | 75 | €8,115 | €10,529 | +€2,414 | +29.7% |
| Financial charges | 65/66B | €11,285 | €10,852 | -€433 | -3.8% |
| Recurring financial charges | 65 | €11,285 | €10,852 | -€433 | -3.8% |
| Profit (loss) for the period before taxes | 9903 | €107,358 | €109,245 | +€1,887 | +1.8% |
| Transfer from deferred taxes | 780 | €1,687 | €1,687 | -€0 | 0.0% |
| Income taxes | 67/77 | €28,313 | €32,208 | +€3,895 | +13.8% |
| Profit (loss) for the period | 9904 | €80,732 | €78,724 | -€2,008 | -2.5% |
| Transfer from tax-exempt reserves | 789 | €5,061 | €5,061 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €52,625 | €21,050 | -€31,575 | -60.0% |
| Profit (loss) for the period to be appropriated | 9905 | €33,168 | €62,735 | +€29,567 | +89.1% |
Source: filed annual accounts (NBB), financial years ended 31 July 2024 and 31 July 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.