Vanjo: 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.
Vanjo
Largest movements
- Receivables within one year -€27,072
down €27,072 (-74.7%), from €36,238 to €9,166
of which Trade receivables: -€19,965
- Tangible fixed assets -€17,342
down €17,342 (-2.6%), from €659,266 to €641,924
of which Land and buildings: -€23,894
- Debts after one year -€23,620
down €23,620 (-5.8%), from €408,521 to €384,902
of which Financial debts: -€23,620
- Trade debts -€13,475
down €13,475 (-22.3%), from €60,495 to €47,020
- Reserves +€12,668
up €12,668 (+11.1%), from €113,895 to €126,564
- Other debts -€10,607
down €10,607 (-26.7%), from €39,780 to €29,173
- Tax, wage and social debts -€7,613
down €7,613 (-15.8%), from €48,230 to €40,618
of which Remuneration and social security: -€8,301
- Gross operating margin +€24,505
up €24,505 (+9.3%), from €262,631 to €287,136
- Staff costs +€12,135
up €12,135 (+6.0%), from €202,257 to €214,392
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 | €751,866 | €703,420 | -€48,446 | -6.4% |
| Fixed assets | 21/28 | €674,143 | €654,818 | -€19,325 | -2.9% |
| Intangible fixed assets | 21 | €14,878 | €12,894 | -€1,984 | -13.3% |
| Tangible fixed assets | 22/27 | €659,266 | €641,924 | -€17,342 | -2.6% |
| Land and buildings | 22 | €658,391 | €634,497 | -€23,894 | -3.6% |
| Plant, machinery and equipment | 23 | €875 | €7,427 | +€6,552 | +749.2% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €77,722 | €48,602 | -€29,120 | -37.5% |
| Stocks and contracts in progress | 3 | €6,449 | €5,948 | -€502 | -7.8% |
| Stocks | 30/36 | €6,449 | €5,948 | -€502 | -7.8% |
| Amounts receivable within one year | 40/41 | €36,238 | €9,166 | -€27,072 | -74.7% |
| Trade receivables | 40 | €25,847 | €5,882 | -€19,965 | -77.2% |
| Other amounts receivable | 41 | €10,391 | €3,285 | -€7,106 | -68.4% |
| Cash at bank and in hand | 54/58 | €25,549 | €28,048 | +€2,499 | +9.8% |
| Deferred charges and accrued income | 490/1 | €9,486 | €5,440 | -€4,046 | -42.7% |
| Total equity and liabilities | 10/49 | €751,866 | €703,420 | -€48,446 | -6.4% |
| Equity | 10/15 | €163,895 | €176,564 | +€12,668 | +7.7% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €113,895 | €126,564 | +€12,668 | +11.1% |
| Distributable reserves | 133 | €113,895 | €126,564 | +€12,668 | +11.1% |
| Amounts payable | 17/49 | €587,970 | €526,856 | -€61,114 | -10.4% |
| Amounts payable after more than one year | 17 | €408,521 | €384,902 | -€23,620 | -5.8% |
| Financial debts | 170/4 | €248,521 | €224,902 | -€23,620 | -9.5% |
| Other amounts payable | 178/9 | €160,000 | €160,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €178,147 | €140,430 | -€37,717 | -21.2% |
| Current portion of amounts payable after more than one year | 42 | €29,642 | €23,620 | -€6,022 | -20.3% |
| Trade debts | 44 | €60,495 | €47,020 | -€13,475 | -22.3% |
| Suppliers | 440/4 | €60,495 | €47,020 | -€13,475 | -22.3% |
| Taxes, remuneration and social security | 45 | €48,230 | €40,618 | -€7,613 | -15.8% |
| Taxes | 450/3 | €6,468 | €7,156 | +€688 | +10.6% |
| Remuneration and social security | 454/9 | €41,762 | €33,462 | -€8,301 | -19.9% |
| Other amounts payable | 47/48 | €39,780 | €29,173 | -€10,607 | -26.7% |
| Accrued charges and deferred income | 492/3 | €1,302 | €1,524 | +€222 | +17.1% |
| Remuneration, social security and pensions | 62 | €202,257 | €214,392 | +€12,135 | +6.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,051 | €26,966 | +€916 | +3.5% |
| Other operating charges | 640/8 | €2,901 | €3,255 | +€354 | +12.2% |
| Gross operating margin | 9900 | €262,631 | €287,136 | +€24,505 | +9.3% |
| Operating profit (loss) | 9901 | €31,422 | €42,522 | +€11,100 | +35.3% |
| Financial income | 75/76B | €130 | €241 | +€111 | +85.6% |
| Recurring financial income | 75 | €130 | €241 | +€111 | +85.6% |
| Financial charges | 65/66B | €21,336 | €21,550 | +€214 | +1.0% |
| Recurring financial charges | 65 | €21,336 | €21,550 | +€214 | +1.0% |
| Profit (loss) for the period before taxes | 9903 | €10,217 | €21,214 | +€10,997 | +107.6% |
| Income taxes | 67/77 | €6,299 | €8,546 | +€2,247 | +35.7% |
| Profit (loss) for the period | 9904 | €3,918 | €12,668 | +€8,750 | +223.3% |
| Profit (loss) for the period to be appropriated | 9905 | €3,918 | €12,668 | +€8,750 | +223.3% |
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 5 October 2026 via checked.be.