VANNAERT: 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.
VANNAERT
Largest movements
- Tangible fixed assets +€52,846
up €52,846 (+487.4%), from €10,843 to €63,689
of which Furniture and vehicles: +€38,585
- Cash -€18,262
down €18,262 (-54.4%), from €33,563 to €15,301
mainly Investment in fixed assets (net) (-€58,715) and Other debts (-€2,432)
- Receivables within one year -€5,982
down €5,982 (-49.4%), from €12,105 to €6,122
of which Trade receivables: -€6,050
- Reserves +€33,143
up €33,143 (+108.0%), from €30,674 to €63,816
- Other debts -€2,432
down €2,432 (-33.8%), from €7,191 to €4,758
- Tax, wage and social debts -€1,380
down €1,380 (-8.4%), from €16,454 to €15,074
of which Taxes: -€1,380
- Gross operating margin +€11,865
up €11,865 (+29.7%), from €39,937 to €51,802
- Depreciation +€5,271
up €5,271 (+880.6%), from €599 to €5,870
- Taxes +€4,325
up €4,325 (+52.7%), from €8,208 to €12,533
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 | €56,511 | €85,745 | +€29,235 | +51.7% |
| Fixed assets | 21/28 | €10,843 | €63,689 | +€52,846 | +487.4% |
| Tangible fixed assets | 22/27 | €10,843 | €63,689 | +€52,846 | +487.4% |
| Furniture and vehicles | 24 | - | €38,585 | +€38,585 | |
| Other tangible fixed assets | 26 | €10,843 | €25,104 | +€14,261 | +131.5% |
| Current assets | 29/58 | €45,668 | €22,057 | -€23,611 | -51.7% |
| Amounts receivable within one year | 40/41 | €12,105 | €6,122 | -€5,982 | -49.4% |
| Trade receivables | 40 | €12,100 | €6,050 | -€6,050 | -50.0% |
| Other amounts receivable | 41 | €5 | €72 | +€68 | +1468.2% |
| Cash at bank and in hand | 54/58 | €33,563 | €15,301 | -€18,262 | -54.4% |
| Deferred charges and accrued income | 490/1 | - | €633 | +€633 | |
| Total equity and liabilities | 10/49 | €56,511 | €85,745 | +€29,235 | +51.7% |
| Equity | 10/15 | €32,674 | €65,816 | +€33,143 | +101.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €30,674 | €63,816 | +€33,143 | +108.0% |
| Distributable reserves | 133 | €30,674 | €63,816 | +€33,143 | +108.0% |
| Amounts payable | 17/49 | €23,837 | €19,929 | -€3,908 | -16.4% |
| Amounts payable within one year | 42/48 | €23,837 | €19,929 | -€3,908 | -16.4% |
| Trade debts | 44 | €192 | €96 | -€96 | -50.0% |
| Suppliers | 440/4 | €192 | €96 | -€96 | -50.0% |
| Taxes, remuneration and social security | 45 | €16,454 | €15,074 | -€1,380 | -8.4% |
| Taxes | 450/3 | €14,554 | €13,174 | -€1,380 | -9.5% |
| Remuneration and social security | 454/9 | €1,900 | €1,900 | = | 0.0% |
| Other amounts payable | 47/48 | €7,191 | €4,758 | -€2,432 | -33.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €599 | €5,870 | +€5,271 | +880.6% |
| Other operating charges | 640/8 | €440 | €213 | -€226 | -51.5% |
| Gross operating margin | 9900 | €39,937 | €51,802 | +€11,865 | +29.7% |
| Operating profit (loss) | 9901 | €38,898 | €45,719 | +€6,820 | +17.5% |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €17 | €46 | +€29 | +172.5% |
| Recurring financial charges | 65 | €17 | €46 | +€29 | +172.5% |
| Profit (loss) for the period before taxes | 9903 | €38,881 | €45,676 | +€6,794 | +17.5% |
| Income taxes | 67/77 | €8,208 | €12,533 | +€4,325 | +52.7% |
| Profit (loss) for the period | 9904 | €30,674 | €33,143 | +€2,469 | +8.0% |
| Profit (loss) for the period to be appropriated | 9905 | €30,674 | €33,143 | +€2,469 | +8.0% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.