VANLEENE: 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.
VANLEENE
Largest movements
- Tangible fixed assets +€490,093
up €490,093 (+21.3%), from €2.3m to €2.8m
of which Furniture and vehicles: +€850,754
- Cash -€142,419
down €142,419 (-34.9%), from €407,493 to €265,074
mainly Investment in fixed assets (net) (-€1.2m) and Receivables within one year (-€51,796)
- Receivables within one year +€51,796
up €51,796 (+38.5%), from €134,418 to €186,214
of which Other amounts receivable: +€108,300
- Stocks and contracts +€36,132
up €36,132 (+21.9%), from €164,950 to €201,082
- Debts after one year +€221,643
up €221,643 (+35.4%), from €626,502 to €848,146
- Current portion of long-term debt +€86,629
up €86,629 (+30.0%), from €288,739 to €375,368
- Reserves +€72,668
up €72,668 (+7.8%), from €935,591 to €1.0m
of which Distributable reserves: +€170,772
- Trade debts +€58,105
up €58,105 (+541.9%), from €10,722 to €68,827
- Gross operating margin +€123,597
up €123,597 (+13.4%), from €921,088 to €1.0m
- Depreciation +€45,828
up €45,828 (+7.2%), from €635,426 to €681,254
- Taxes +€34,246
up €34,246 (+207.4%), from €16,509 to €50,755
- Financial charges +€25,820
up €25,820 (+45.0%), from €57,355 to €83,175
- Staff costs +€24,057
up €24,057 (+18.0%), from €133,286 to €157,343
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 | €3,028,938 | €3,468,698 | +€439,760 | +14.5% |
| Fixed assets | 21/28 | €2,302,621 | €2,792,715 | +€490,093 | +21.3% |
| Tangible fixed assets | 22/27 | €2,302,621 | €2,792,715 | +€490,093 | +21.3% |
| Land and buildings | 22 | €538,142 | €596,049 | +€57,907 | +10.8% |
| Plant, machinery and equipment | 23 | €1,740,801 | €1,322,233 | -€418,568 | -24.0% |
| Furniture and vehicles | 24 | €23,679 | €874,433 | +€850,754 | +3592.9% |
| Current assets | 29/58 | €726,317 | €675,983 | -€50,334 | -6.9% |
| Stocks and contracts in progress | 3 | €164,950 | €201,082 | +€36,132 | +21.9% |
| Stocks | 30/36 | €164,950 | €201,082 | +€36,132 | +21.9% |
| Amounts receivable within one year | 40/41 | €134,418 | €186,214 | +€51,796 | +38.5% |
| Trade receivables | 40 | €127,476 | €70,973 | -€56,504 | -44.3% |
| Other amounts receivable | 41 | €6,941 | €115,241 | +€108,300 | +1560.3% |
| Cash at bank and in hand | 54/58 | €407,493 | €265,074 | -€142,419 | -34.9% |
| Deferred charges and accrued income | 490/1 | €19,456 | €23,614 | +€4,157 | +21.4% |
| Total equity and liabilities | 10/49 | €3,028,938 | €3,468,698 | +€439,760 | +14.5% |
| Equity | 10/15 | €1,139,154 | €1,210,156 | +€71,002 | +6.2% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €935,591 | €1,008,260 | +€72,668 | +7.8% |
| Tax-exempt reserves | 132 | €220,774 | €122,670 | -€98,104 | -44.4% |
| Distributable reserves | 133 | €714,818 | €885,590 | +€170,772 | +23.9% |
| Profit (loss) carried forward | 14 | €3,562 | €1,896 | -€1,666 | -46.8% |
| Provisions and deferred taxes | 16 | €55,193 | €30,667 | -€24,526 | -44.4% |
| Deferred taxes | 168 | €55,193 | €30,667 | -€24,526 | -44.4% |
| Amounts payable | 17/49 | €1,834,591 | €2,227,875 | +€393,283 | +21.4% |
| Amounts payable after more than one year | 17 | €626,502 | €848,146 | +€221,643 | +35.4% |
| Financial debts | 170/4 | €626,502 | €848,146 | +€221,643 | +35.4% |
| Amounts payable within one year | 42/48 | €1,146,155 | €1,307,031 | +€160,876 | +14.0% |
| Current portion of amounts payable after more than one year | 42 | €288,739 | €375,368 | +€86,629 | +30.0% |
| Trade debts | 44 | €10,722 | €68,827 | +€58,105 | +541.9% |
| Suppliers | 440/4 | €10,722 | €68,827 | +€58,105 | +541.9% |
| Advances received on contracts in progress | 46 | - | €336 | +€336 | |
| Taxes, remuneration and social security | 45 | €17,562 | €32,895 | +€15,333 | +87.3% |
| Taxes | 450/3 | €17,291 | €19,581 | +€2,290 | +13.2% |
| Remuneration and social security | 454/9 | €271 | €13,314 | +€13,043 | +4807.8% |
| Other amounts payable | 47/48 | €829,131 | €829,605 | +€474 | +0.1% |
| Accrued charges and deferred income | 492/3 | €61,934 | €72,698 | +€10,764 | +17.4% |
| Non-recurring operating income | 76A | €28,000 | €0 | -€28,000 | -100.0% |
| Remuneration, social security and pensions | 62 | €133,286 | €157,343 | +€24,057 | +18.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €635,426 | €681,254 | +€45,828 | +7.2% |
| Other operating charges | 640/8 | €8,343 | €8,620 | +€277 | +3.3% |
| Non-recurring operating charges | 66A | - | €16,178 | +€16,178 | |
| Gross operating margin | 9900 | €921,088 | €1,044,686 | +€123,597 | +13.4% |
| Operating profit (loss) | 9901 | €144,034 | €181,292 | +€37,258 | +25.9% |
| Financial income | 75/76B | €1,026 | €781 | -€245 | -23.9% |
| Recurring financial income | 75 | €1,026 | €781 | -€245 | -23.9% |
| Financial charges | 65/66B | €57,355 | €83,175 | +€25,820 | +45.0% |
| Recurring financial charges | 65 | €57,355 | €83,175 | +€25,820 | +45.0% |
| Profit (loss) for the period before taxes | 9903 | €87,705 | €98,898 | +€11,193 | +12.8% |
| Transfer from deferred taxes | 780 | €24,379 | €24,526 | +€147 | +0.6% |
| Transfer to deferred taxes | 680 | €5,600 | €0 | -€5,600 | -100.0% |
| Income taxes | 67/77 | €16,509 | €50,755 | +€34,246 | +207.4% |
| Profit (loss) for the period | 9904 | €89,974 | €72,668 | -€17,306 | -19.2% |
| Transfer from tax-exempt reserves | 789 | €97,515 | €98,104 | +€589 | +0.6% |
| Transfer to tax-exempt reserves | 689 | €22,400 | €0 | -€22,400 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €165,089 | €170,772 | +€5,683 | +3.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.