VANMULCO: 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.
VANMULCO
Largest movements
- Tangible fixed assets -€327
down €327 (-4.5%), from €7,197 to €6,870
- Cash -€116
down €116 (-58.8%), from €197 to €81
mainly Net result for the year (-€2,086)
- Profit (loss) carried forward -€2,086
down €2,086 (-14.7%), from -€14,160 to -€16,246
- Other debts +€1,643
up €1,643 (+9.9%), from €16,554 to €18,197
- Gross operating margin +€262
up €262 (+14.2%), from -€1,847 to -€1,585
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 | €7,394 | €6,951 | -€443 | -6.0% |
| Fixed assets | 21/28 | €7,197 | €6,870 | -€327 | -4.5% |
| Tangible fixed assets | 22/27 | €7,197 | €6,870 | -€327 | -4.5% |
| Land and buildings | 22 | €7,197 | €6,870 | -€327 | -4.5% |
| Current assets | 29/58 | €197 | €81 | -€116 | -58.8% |
| Cash at bank and in hand | 54/58 | €197 | €81 | -€116 | -58.8% |
| Total equity and liabilities | 10/49 | €7,394 | €6,951 | -€443 | -6.0% |
| Equity | 10/15 | -€9,160 | -€11,246 | -€2,086 | -22.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Capital | 10 | €5,000 | €5,000 | = | 0.0% |
| Issued capital | 100 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€14,160 | -€16,246 | -€2,086 | -14.7% |
| Amounts payable | 17/49 | €16,554 | €18,197 | +€1,643 | +9.9% |
| Amounts payable within one year | 42/48 | €16,554 | €18,197 | +€1,643 | +9.9% |
| Other amounts payable | 47/48 | €16,554 | €18,197 | +€1,643 | +9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €327 | €327 | = | 0.0% |
| Other operating charges | 640/8 | €124 | €124 | = | 0.0% |
| Gross operating margin | 9900 | -€1,847 | -€1,585 | +€262 | +14.2% |
| Operating profit (loss) | 9901 | -€2,298 | -€2,036 | +€262 | +11.4% |
| Financial charges | 65/66B | €49 | €50 | +€2 | +3.1% |
| Recurring financial charges | 65 | €49 | €50 | +€2 | +3.1% |
| Non-recurring financial charges | 66B | €49 | €50 | +€2 | +3.1% |
| Profit (loss) for the period before taxes | 9903 | -€2,347 | -€2,086 | +€261 | +11.1% |
| Profit (loss) for the period | 9904 | -€2,347 | -€2,086 | +€261 | +11.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,347 | -€2,086 | +€261 | +11.1% |
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 1 October 2026 via checked.be.