VANMAR: 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.
VANMAR
Largest movements
- Receivables within one year -€297,370
down €297,370 (-56.8%), from €523,189 to €225,818
of which Other amounts receivable: -€297,370
- Other debts -€264,718
down €264,718 (-59.7%), from €443,493 to €178,774
- Debts after one year -€42,264
down €42,264 (-8.2%), from €512,792 to €470,528
- Profit (loss) carried forward +€22,650
up €22,650 (+25.0%), from €90,541 to €113,192
- Current portion of long-term debt +€18,499
up €18,499 (+68.0%), from €27,208 to €45,707
- Accrued charges and deferred income -€15,930
down €15,930 (-55.0%), from €28,987 to €13,057
- Financial charges -€19,915
down €19,915 (-38.3%), from €52,034 to €32,118
- Gross operating margin +€14,519
up €14,519 (+17.0%), from €85,623 to €100,142
- Financial income -€5,438
down €5,438 (-82.8%), from €6,570 to €1,133
- Taxes +€3,608
up €3,608 (+70.6%), from €5,113 to €8,721
- Depreciation +€1,758
up €1,758 (+8.3%), from €21,280 to €23,038
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,199,684 | €921,729 | -€277,955 | -23.2% |
| Fixed assets | 21/28 | €671,338 | €680,100 | +€8,762 | +1.3% |
| Tangible fixed assets | 22/27 | €405,599 | €414,360 | +€8,762 | +2.2% |
| Land and buildings | 22 | €393,537 | €374,101 | -€19,436 | -4.9% |
| Plant, machinery and equipment | 23 | €12,062 | €40,260 | +€28,198 | +233.8% |
| Financial fixed assets | 28 | €265,739 | €265,739 | = | 0.0% |
| Current assets | 29/58 | €528,347 | €241,630 | -€286,717 | -54.3% |
| Amounts receivable within one year | 40/41 | €523,189 | €225,818 | -€297,370 | -56.8% |
| Trade receivables | 40 | €188,386 | €188,386 | = | 0.0% |
| Other amounts receivable | 41 | €334,802 | €37,432 | -€297,370 | -88.8% |
| Cash at bank and in hand | 54/58 | €309 | €11,529 | +€11,220 | +3626.1% |
| Deferred charges and accrued income | 490/1 | €4,848 | €4,282 | -€566 | -11.7% |
| Total equity and liabilities | 10/49 | €1,199,684 | €921,729 | -€277,955 | -23.2% |
| Equity | 10/15 | €171,932 | €194,583 | +€22,650 | +13.2% |
| Contributions | 10/11 | €37,500 | €37,500 | = | 0.0% |
| Reserves | 13 | €43,891 | €43,891 | = | 0.0% |
| Tax-exempt reserves | 132 | €5,200 | €5,200 | = | 0.0% |
| Distributable reserves | 133 | €38,691 | €38,691 | = | 0.0% |
| Profit (loss) carried forward | 14 | €90,541 | €113,192 | +€22,650 | +25.0% |
| Amounts payable | 17/49 | €1,027,752 | €727,147 | -€300,605 | -29.2% |
| Amounts payable after more than one year | 17 | €512,792 | €470,528 | -€42,264 | -8.2% |
| Financial debts | 170/4 | €512,792 | €470,528 | -€42,264 | -8.2% |
| Amounts payable within one year | 42/48 | €485,973 | €243,562 | -€242,411 | -49.9% |
| Current portion of amounts payable after more than one year | 42 | €27,208 | €45,707 | +€18,499 | +68.0% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €1,914 | €5,370 | +€3,456 | +180.6% |
| Suppliers | 440/4 | €1,914 | €5,370 | +€3,456 | +180.6% |
| Taxes, remuneration and social security | 45 | €13,359 | €13,710 | +€352 | +2.6% |
| Taxes | 450/3 | €6,359 | €5,710 | -€648 | -10.2% |
| Remuneration and social security | 454/9 | €7,000 | €8,000 | +€1,000 | +14.3% |
| Other amounts payable | 47/48 | €443,493 | €178,774 | -€264,718 | -59.7% |
| Accrued charges and deferred income | 492/3 | €28,987 | €13,057 | -€15,930 | -55.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,280 | €23,038 | +€1,758 | +8.3% |
| Other operating charges | 640/8 | €14,320 | €14,746 | +€426 | +3.0% |
| Gross operating margin | 9900 | €85,623 | €100,142 | +€14,519 | +17.0% |
| Operating profit (loss) | 9901 | €50,023 | €62,357 | +€12,334 | +24.7% |
| Financial income | 75/76B | €6,570 | €1,133 | -€5,438 | -82.8% |
| Recurring financial income | 75 | €6,570 | €1,133 | -€5,438 | -82.8% |
| Financial charges | 65/66B | €52,034 | €32,118 | -€19,915 | -38.3% |
| Recurring financial charges | 65 | €52,034 | €32,118 | -€19,915 | -38.3% |
| Profit (loss) for the period before taxes | 9903 | €4,560 | €31,371 | +€26,811 | +588.0% |
| Income taxes | 67/77 | €5,113 | €8,721 | +€3,608 | +70.6% |
| Profit (loss) for the period | 9904 | -€553 | €22,650 | +€23,203 | |
| Profit (loss) for the period to be appropriated | 9905 | -€553 | €22,650 | +€23,203 |
Source: filed annual accounts (NBB), fiscal years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.