VANMEX: 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.
VANMEX
Largest movements
- Receivables within one year +€38,515
up €38,515 (+45.8%), from €84,090 to €122,605
of which Other amounts receivable: +€38,515
- Other debts +€133,035
up €133,035 (+14.7%), from €902,761 to €1.0m
- Debts after one year -€121,931
down €121,931 (-23.4%), from €521,931 to €400,000
- Profit (loss) carried forward -€73,516
down €73,516 (-626.5%), from -€11,735 to -€85,251
- Current portion of long-term debt +€69,660
up €69,660 (+133.3%), from €52,271 to €121,931
- Trade debts +€28,268
up €28,268 (+922.9%), from €3,063 to €31,331
- Gross operating margin -€64,976
down €64,976, from €44,258 to -€20,718
- Financial charges +€24,595
up €24,595 (+89.7%), from €27,412 to €52,008
- Financial income +€2,416
new in 2025: €2,416
- Other operating charges +€2,150
up €2,150 (+671.8%), from €320 to €2,470
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 | €1,504,125 | €1,534,985 | +€30,861 | +2.1% |
| Fixed assets | 21/28 | €1,400,484 | €1,401,277 | +€793 | +0.1% |
| Tangible fixed assets | 22/27 | €484 | €1,277 | +€793 | +163.7% |
| Furniture and vehicles | 24 | €484 | €1,277 | +€793 | +163.7% |
| Financial fixed assets | 28 | €1,400,000 | €1,400,000 | = | 0.0% |
| Current assets | 29/58 | €103,640 | €133,708 | +€30,068 | +29.0% |
| Amounts receivable within one year | 40/41 | €84,090 | €122,605 | +€38,515 | +45.8% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €84,090 | €122,605 | +€38,515 | +45.8% |
| Cash at bank and in hand | 54/58 | €6,019 | €4,492 | -€1,527 | -25.4% |
| Deferred charges and accrued income | 490/1 | €13,532 | €6,611 | -€6,921 | -51.1% |
| Total equity and liabilities | 10/49 | €1,504,125 | €1,534,985 | +€30,861 | +2.1% |
| Equity | 10/15 | -€5,735 | -€79,251 | -€73,516 | -1281.9% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€11,735 | -€85,251 | -€73,516 | -626.5% |
| Amounts payable | 17/49 | €1,509,860 | €1,614,237 | +€104,377 | +6.9% |
| Amounts payable after more than one year | 17 | €521,931 | €400,000 | -€121,931 | -23.4% |
| Financial debts | 170/4 | €521,931 | €400,000 | -€121,931 | -23.4% |
| Amounts payable within one year | 42/48 | €987,429 | €1,213,737 | +€226,308 | +22.9% |
| Current portion of amounts payable after more than one year | 42 | €52,271 | €121,931 | +€69,660 | +133.3% |
| Trade debts | 44 | €3,063 | €31,331 | +€28,268 | +922.9% |
| Suppliers | 440/4 | €3,063 | €31,331 | +€28,268 | +922.9% |
| Taxes, remuneration and social security | 45 | €29,335 | €24,679 | -€4,656 | -15.9% |
| Taxes | 450/3 | €29,335 | €24,679 | -€4,656 | -15.9% |
| Other amounts payable | 47/48 | €902,761 | €1,035,796 | +€133,035 | +14.7% |
| Accrued charges and deferred income | 492/3 | €500 | €500 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €742 | €494 | -€248 | -33.4% |
| Other operating charges | 640/8 | €320 | €2,470 | +€2,150 | +671.8% |
| Gross operating margin | 9900 | €44,258 | -€20,718 | -€64,976 | |
| Operating profit (loss) | 9901 | €43,197 | -€23,682 | -€66,878 | |
| Financial income | 75/76B | - | €2,416 | +€2,416 | |
| Recurring financial income | 75 | - | €2,416 | +€2,416 | |
| Financial charges | 65/66B | €27,412 | €52,008 | +€24,595 | +89.7% |
| Recurring financial charges | 65 | €27,412 | €52,008 | +€24,595 | +89.7% |
| Profit (loss) for the period before taxes | 9903 | €15,784 | -€73,274 | -€89,058 | |
| Income taxes | 67/77 | €266 | €243 | -€23 | -8.7% |
| Profit (loss) for the period | 9904 | €15,518 | -€73,516 | -€89,034 | |
| Profit (loss) for the period to be appropriated | 9905 | €15,518 | -€73,516 | -€89,034 |
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 6 October 2026 via checked.be.