Vanmax consult: 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.
Vanmax consult
Largest movements
- Financial fixed assets -€44,800
no longer reported in 2025 (was €44,800)
- Tangible fixed assets -€12,691
down €12,691 (-1.7%), from €751,973 to €739,282
- Cash -€11,633
no longer reported in 2025 (was €11,633)
mainly Trade debts (-€468,353) and Net result for the year (-€56,072)
- Trade debts -€468,353
down €468,353 (-99.3%), from €471,567 to €3,214
- Debts after one year +€407,771
up €407,771 (+278%), from €146,851 to €554,623
- Other debts +€78,677
up €78,677 (+391%), from €20,120 to €98,797
- Profit (loss) carried forward -€56,072
down €56,072 (-60.4%), from €92,870 to €36,799
- Tax, wage and social debts -€22,733
down €22,733 (-89.4%), from €25,417 to €2,683
- Gross operating margin -€160,721
down €160,721, from €147,560 to -€13,161
- Taxes -€24,716
no longer reported in 2025 (was €24,716)
- Financial charges +€10,681
up €10,681 (+56.0%), from €19,071 to €29,753
of which Financial charges: +€10,681
- Depreciation +€3,512
up €3,512 (+38.3%), from €9,179 to €12,691
- Other operating charges -€1,605
down €1,605 (-77.4%), from €2,073 to €467
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.
Derived cash bridge
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 | €883,909 | €815,941 | -€67,968 | -7.7% |
| Fixed assets | 21/28 | €796,773 | €739,282 | -€57,491 | -7.2% |
| Tangible fixed assets | 22/27 | €751,973 | €739,282 | -€12,691 | -1.7% |
| Land and buildings | 22 | €751,973 | €739,282 | -€12,691 | -1.7% |
| Financial fixed assets | 28 | €44,800 | - | -€44,800 | |
| Current assets | 29/58 | €87,136 | €76,659 | -€10,477 | -12.0% |
| Amounts receivable within one year | 40/41 | €75,503 | €76,659 | +€1,156 | +1.5% |
| Trade receivables | 40 | €65,415 | €76,375 | +€10,960 | +16.8% |
| Other amounts receivable | 41 | €10,088 | €284 | -€9,804 | -97.2% |
| Cash at bank and in hand | 54/58 | €11,633 | - | -€11,633 | |
| Total equity and liabilities | 10/49 | €883,909 | €815,941 | -€67,968 | -7.7% |
| Equity | 10/15 | €202,508 | €146,436 | -€56,072 | -27.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €99,637 | €99,637 | = | 0.0% |
| Distributable reserves | 133 | €99,637 | €99,637 | = | 0.0% |
| Profit (loss) carried forward | 14 | €92,870 | €36,799 | -€56,072 | -60.4% |
| Amounts payable | 17/49 | €681,401 | €669,505 | -€11,896 | -1.7% |
| Amounts payable after more than one year | 17 | €146,851 | €554,623 | +€407,771 | +278% |
| Financial debts | 170/4 | €146,851 | €554,623 | +€407,771 | +278% |
| Amounts payable within one year | 42/48 | €534,550 | €114,882 | -€419,667 | -78.5% |
| Current portion of amounts payable after more than one year | 42 | €17,447 | €9,788 | -€7,659 | -43.9% |
| Financial debts | 43 | - | €400 | +€400 | |
| Credit institutions | 430/8 | - | €400 | +€400 | |
| Trade debts | 44 | €471,567 | €3,214 | -€468,353 | -99.3% |
| Suppliers | 440/4 | €471,567 | €3,214 | -€468,353 | -99.3% |
| Taxes, remuneration and social security | 45 | €25,417 | €2,683 | -€22,733 | -89.4% |
| Taxes | 450/3 | €25,417 | €2,683 | -€22,733 | -89.4% |
| Other amounts payable | 47/48 | €20,120 | €98,797 | +€78,677 | +391% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,179 | €12,691 | +€3,512 | +38.3% |
| Other operating charges | 640/8 | €2,073 | €467 | -€1,605 | -77.4% |
| Gross operating margin | 9900 | €147,560 | -€13,161 | -€160,721 | |
| Operating profit (loss) | 9901 | €136,308 | -€26,319 | -€162,627 | |
| Financial income | 75/76B | €349 | - | -€349 | |
| Recurring financial income | 75 | €349 | - | -€349 | |
| Financial charges | 65/66B | €19,071 | €29,753 | +€10,681 | +56.0% |
| Recurring financial charges | 65 | €19,071 | €29,752 | +€10,681 | +56.0% |
| Non-recurring financial charges | 66B | - | €0 | +€0 | |
| Profit (loss) for the period before taxes | 9903 | €117,586 | -€56,072 | -€173,658 | |
| Income taxes | 67/77 | €24,716 | - | -€24,716 | |
| Profit (loss) for the period | 9904 | €92,870 | -€56,072 | -€148,942 | |
| Profit (loss) for the period to be appropriated | 9905 | €92,870 | -€56,072 | -€148,942 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.