VANNESTE: 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.
What changed
VANNESTE
NACE 43.222, Installation of electric heating, air conditioning, cooling and ventilation
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€6,168
2024 · €75,788-€69,619
Equity
€397,467
2024 · €391,298+€6,168
Cash
€28,186
2024 · €179,501-€151,314
Balance sheet total
€1.3m
2024 · €1.4m-€29,157
Largest movements
Assets
- Cash -€151,314
down €151,314 (-84.3%), from €179,501 to €28,186
mainly Receivables within one year (-€114,281) and Debts after one year (-€101,346)
- Receivables within one year +€114,281
up €114,281 (+43.7%), from €261,511 to €375,792
of which Other amounts receivable: +€97,692
Equity and liabilities
- Trade debts +€206,873
up €206,873 (+53.0%), from €390,489 to €597,362
- Debts after one year -€101,346
down €101,346 (-26.6%), from €380,700 to €279,354
- Current portion of long-term debt -€89,836
down €89,836 (-86.5%), from €103,916 to €14,080
- Tax, wage and social debts -€43,477
down €43,477 (-43.8%), from €99,207 to €55,731
of which Taxes: -€42,164
Income statement
- Staff costs +€160,160
up €160,160 (+17.3%), from €924,155 to €1.1m
- Gross operating margin +€62,351
up €62,351 (+5.7%), from €1.1m to €1.1m
- Taxes -€21,948
down €21,948 (-72.0%), from €30,495 to €8,547
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.
Result 2024
€75,788
Gross operating margin
+€62,351
Staff costs
-€160,160
Depreciation
+€7,241
Other operating charges
+€2,398
Other operating items
-€2,052
Financial income
+€4,627
Financial charges
-€5,973
Taxes
+€21,948
Result 2025
€6,168
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.
From operations
+€51,845
Investment
-€17,027
Financing
-€186,132
Cash 2024
€179,501
From operations (derived)
+€51,845
Net result for the year
+€6,168
Depreciation
+€25,559
Stocks and contracts
-€12,340
Receivables within one year
-€114,281
Deferred charges and accrued income
-€4,067
Trade debts
+€206,873
Tax, wage and social debts
-€43,477
Advances received
-€8,057
Other debts
-€4,533
Investment (derived)
-€17,027
Investment in fixed assets (net)
-€17,027
Financing
-€186,132
Debts after one year
-€101,346
Current portion of long-term debt
-€89,836
Short-term financial debts
+€5,049
Cash 2025
€28,186
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,379,071 | €1,349,914 | -€29,157 | -2.1% |
| Fixed assets | 21/28 | €56,546 | €48,015 | -€8,532 | -15.1% |
| Intangible fixed assets | 21 | €5,208 | €0 | -€5,208 | -100.0% |
| Tangible fixed assets | 22/27 | €51,338 | €48,015 | -€3,323 | -6.5% |
| Plant, machinery and equipment | 23 | €3,066 | €1,765 | -€1,301 | -42.4% |
| Furniture and vehicles | 24 | €48,272 | €46,249 | -€2,023 | -4.2% |
| Current assets | 29/58 | €1,322,525 | €1,301,899 | -€20,626 | -1.6% |
| Amounts receivable after more than one year | 29 | €10,287 | €10,287 | = | 0.0% |
| Other amounts receivable | 291 | €10,287 | €10,287 | = | 0.0% |
| Stocks and contracts in progress | 3 | €863,333 | €875,673 | +€12,340 | +1.4% |
| Stocks | 30/36 | €863,333 | €875,673 | +€12,340 | +1.4% |
| Amounts receivable within one year | 40/41 | €261,511 | €375,792 | +€114,281 | +43.7% |
| Trade receivables | 40 | €230,689 | €247,278 | +€16,589 | +7.2% |
| Other amounts receivable | 41 | €30,823 | €128,514 | +€97,692 | +316.9% |
| Cash at bank and in hand | 54/58 | €179,501 | €28,186 | -€151,314 | -84.3% |
| Deferred charges and accrued income | 490/1 | €7,893 | €11,960 | +€4,067 | +51.5% |
| Total equity and liabilities | 10/49 | €1,379,071 | €1,349,914 | -€29,157 | -2.1% |
| Equity | 10/15 | €391,298 | €397,467 | +€6,168 | +1.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €372,698 | €378,867 | +€6,168 | +1.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €370,838 | €377,007 | +€6,168 | +1.7% |
| Amounts payable | 17/49 | €987,773 | €952,447 | -€35,326 | -3.6% |
| Amounts payable after more than one year | 17 | €380,700 | €279,354 | -€101,346 | -26.6% |
| Financial debts | 170/4 | €380,700 | €279,354 | -€101,346 | -26.6% |
| Amounts payable within one year | 42/48 | €607,073 | €673,093 | +€66,020 | +10.9% |
| Current portion of amounts payable after more than one year | 42 | €103,916 | €14,080 | -€89,836 | -86.5% |
| Financial debts | 43 | - | €5,049 | +€5,049 | |
| Credit institutions | 430/8 | - | €5,049 | +€5,049 | |
| Trade debts | 44 | €390,489 | €597,362 | +€206,873 | +53.0% |
| Suppliers | 440/4 | €390,489 | €597,362 | +€206,873 | +53.0% |
| Advances received on contracts in progress | 46 | €8,928 | €871 | -€8,057 | -90.2% |
| Taxes, remuneration and social security | 45 | €99,207 | €55,731 | -€43,477 | -43.8% |
| Taxes | 450/3 | €71,855 | €29,690 | -€42,164 | -58.7% |
| Remuneration and social security | 454/9 | €27,353 | €26,040 | -€1,312 | -4.8% |
| Other amounts payable | 47/48 | €4,533 | €0 | -€4,533 | -100.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €924,155 | €1,084,315 | +€160,160 | +17.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,800 | €25,559 | -€7,241 | -22.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €5,992 | €3,595 | -€2,398 | -40.0% |
| Non-recurring operating charges | 66A | - | €2,052 | +€2,052 | |
| Gross operating margin | 9900 | €1,086,673 | €1,149,024 | +€62,351 | +5.7% |
| Operating profit (loss) | 9901 | €123,726 | €33,504 | -€90,222 | -72.9% |
| Financial income | 75/76B | €2,384 | €7,011 | +€4,627 | +194.1% |
| Recurring financial income | 75 | €2,384 | €7,011 | +€4,627 | +194.1% |
| Financial charges | 65/66B | €19,827 | €25,800 | +€5,973 | +30.1% |
| Recurring financial charges | 65 | €19,827 | €25,800 | +€5,973 | +30.1% |
| Profit (loss) for the period before taxes | 9903 | €106,282 | €14,715 | -€91,567 | -86.2% |
| Income taxes | 67/77 | €30,495 | €8,547 | -€21,948 | -72.0% |
| Profit (loss) for the period | 9904 | €75,788 | €6,168 | -€69,619 | -91.9% |
| Profit (loss) for the period to be appropriated | 9905 | €75,788 | €6,168 | -€69,619 | -91.9% |
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 4 October 2026 via checked.be.