VANMA TECH: 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.
VANMA TECH
Largest movements
- Receivables within one year -€34,441
down €34,441 (-30.5%), from €112,736 to €78,296
of which Trade receivables: -€43,614
- Tangible fixed assets -€21,620
down €21,620 (-46.5%), from €46,541 to €24,920
of which Furniture and vehicles: -€15,440
- Cash +€3,502
up €3,502, from €0 to €3,502
mainly Receivables within one year (+€34,441) and Depreciation (+€23,661)
- Reserves -€25,710
down €25,710 (-25.8%), from €99,810 to €74,100
- Trade debts -€17,410
down €17,410 (-45.0%), from €38,650 to €21,240
- Short-term financial debts -€16,254
down €16,254 (-100.0%), from €16,254 to €0
- Other debts +€7,915
up €7,915 (+79.4%), from €9,973 to €17,887
- Profit (loss) carried forward -€2,314
down €2,314 (-77.8%), from €2,974 to €661
- Gross operating margin -€36,329
down €36,329 (-70.3%), from €51,661 to €15,332
- Depreciation -€6,838
down €6,838 (-22.4%), from €30,499 to €23,661
- Taxes -€5,441
down €5,441 (-97.1%), from €5,602 to €161
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 | €189,824 | €136,036 | -€53,788 | -28.3% |
| Fixed assets | 21/28 | €47,139 | €24,935 | -€22,204 | -47.1% |
| Intangible fixed assets | 21 | €583 | €0 | -€583 | -100.0% |
| Tangible fixed assets | 22/27 | €46,541 | €24,920 | -€21,620 | -46.5% |
| Plant, machinery and equipment | 23 | €6,114 | €4,600 | -€1,514 | -24.8% |
| Furniture and vehicles | 24 | €28,536 | €13,096 | -€15,440 | -54.1% |
| Other tangible fixed assets | 26 | €11,891 | €7,224 | -€4,667 | -39.2% |
| Financial fixed assets | 28 | €15 | €15 | = | 0.0% |
| Current assets | 29/58 | €142,685 | €111,101 | -€31,584 | -22.1% |
| Stocks and contracts in progress | 3 | €21,880 | €22,155 | +€275 | +1.3% |
| Stocks | 30/36 | €21,880 | €22,155 | +€275 | +1.3% |
| Amounts receivable within one year | 40/41 | €112,736 | €78,296 | -€34,441 | -30.5% |
| Trade receivables | 40 | €102,847 | €59,234 | -€43,614 | -42.4% |
| Other amounts receivable | 41 | €9,889 | €19,062 | +€9,173 | +92.8% |
| Cash at bank and in hand | 54/58 | €0 | €3,502 | +€3,502 | |
| Deferred charges and accrued income | 490/1 | €8,069 | €7,149 | -€920 | -11.4% |
| Total equity and liabilities | 10/49 | €189,824 | €136,036 | -€53,788 | -28.3% |
| Equity | 10/15 | €121,384 | €93,361 | -€28,024 | -23.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €99,810 | €74,100 | -€25,710 | -25.8% |
| Distributable reserves | 133 | €99,810 | €74,100 | -€25,710 | -25.8% |
| Profit (loss) carried forward | 14 | €2,974 | €661 | -€2,314 | -77.8% |
| Amounts payable | 17/49 | €68,440 | €42,676 | -€25,764 | -37.6% |
| Amounts payable within one year | 42/48 | €68,440 | €42,676 | -€25,764 | -37.6% |
| Current portion of amounts payable after more than one year | 42 | €2,696 | €2,688 | -€8 | -0.3% |
| Financial debts | 43 | €16,254 | €0 | -€16,254 | -100.0% |
| Credit institutions | 430/8 | €16,254 | €0 | -€16,254 | -100.0% |
| Trade debts | 44 | €38,650 | €21,240 | -€17,410 | -45.0% |
| Suppliers | 440/4 | €38,650 | €21,240 | -€17,410 | -45.0% |
| Taxes, remuneration and social security | 45 | €868 | €860 | -€7 | -0.8% |
| Taxes | 450/3 | €868 | €860 | -€7 | -0.8% |
| Other amounts payable | 47/48 | €9,973 | €17,887 | +€7,915 | +79.4% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €358 | €221 | -€137 | -38.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,499 | €23,661 | -€6,838 | -22.4% |
| Other operating charges | 640/8 | €528 | €544 | +€16 | +3.0% |
| Gross operating margin | 9900 | €51,661 | €15,332 | -€36,329 | -70.3% |
| Operating profit (loss) | 9901 | €20,276 | -€9,094 | -€29,370 | |
| Financial income | 75/76B | €5 | €119 | +€114 | +2391.6% |
| Recurring financial income | 75 | €5 | €119 | +€114 | +2391.6% |
| Financial charges | 65/66B | €1,405 | €1,037 | -€368 | -26.2% |
| Recurring financial charges | 65 | €1,405 | €1,037 | -€368 | -26.2% |
| Profit (loss) for the period before taxes | 9903 | €18,876 | -€10,012 | -€28,888 | |
| Income taxes | 67/77 | €5,602 | €161 | -€5,441 | -97.1% |
| Profit (loss) for the period | 9904 | €13,273 | -€10,174 | -€23,447 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,273 | -€10,174 | -€23,447 |
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 8 October 2026 via checked.be.