Vanneste Frederick: 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.
Vanneste Frederick
Largest movements
- Receivables within one year -€14,246
down €14,246 (-58.3%), from €24,446 to €10,200
of which Trade receivables: -€13,975
- Cash +€11,939
up €11,939 (+224%), from €5,323 to €17,261
mainly Other debts (+€27,256) and Depreciation (+€15,706)
- Tangible fixed assets -€7,326
down €7,326 (-12.3%), from €59,455 to €52,128
of which Furniture and vehicles: -€6,614
- Deferred charges and accrued income +€1,282
up €1,282 (+41.7%), from €3,073 to €4,355
- Other debts +€27,256
up €27,256 (+696%), from €3,919 to €31,175
- Profit (loss) carried forward -€25,726
down €25,726, from €24,813 to -€914
- Debts after one year -€11,161
down €11,161 (-37.5%), from €29,732 to €18,571
- Trade debts +€1,063
up €1,063 (+14.2%), from €7,466 to €8,529
- Gross operating margin -€3,595
down €3,595 (-8.6%), from €41,820 to €38,225
- Financial income -€1,538
down €1,538 (-100.0%), from €1,538 to €0
- Taxes -€1,161
down €1,161 (-17.0%), from €6,821 to €5,659
- Depreciation +€562
up €562 (+3.7%), from €15,143 to €15,706
- Financial charges -€432
down €432 (-21.7%), from €1,988 to €1,556
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 | €92,296 | €83,945 | -€8,352 | -9.0% |
| Fixed assets | 21/28 | €59,455 | €52,128 | -€7,326 | -12.3% |
| Tangible fixed assets | 22/27 | €59,455 | €52,128 | -€7,326 | -12.3% |
| Plant, machinery and equipment | 23 | €1,648 | €936 | -€712 | -43.2% |
| Furniture and vehicles | 24 | €57,807 | €51,193 | -€6,614 | -11.4% |
| Current assets | 29/58 | €32,842 | €31,816 | -€1,026 | -3.1% |
| Amounts receivable within one year | 40/41 | €24,446 | €10,200 | -€14,246 | -58.3% |
| Trade receivables | 40 | €14,193 | €218 | -€13,975 | -98.5% |
| Other amounts receivable | 41 | €10,253 | €9,982 | -€271 | -2.6% |
| Cash at bank and in hand | 54/58 | €5,323 | €17,261 | +€11,939 | +224% |
| Deferred charges and accrued income | 490/1 | €3,073 | €4,355 | +€1,282 | +41.7% |
| Total equity and liabilities | 10/49 | €92,296 | €83,945 | -€8,352 | -9.0% |
| Equity | 10/15 | €29,813 | €4,086 | -€25,726 | -86.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €24,813 | -€914 | -€25,726 | |
| Amounts payable | 17/49 | €62,484 | €79,858 | +€17,375 | +27.8% |
| Amounts payable after more than one year | 17 | €29,732 | €18,571 | -€11,161 | -37.5% |
| Financial debts | 170/4 | €29,732 | €18,571 | -€11,161 | -37.5% |
| Amounts payable within one year | 42/48 | €32,752 | €61,288 | +€28,535 | +87.1% |
| Current portion of amounts payable after more than one year | 42 | €10,741 | €11,161 | +€420 | +3.9% |
| Financial debts | 43 | €2,000 | €1,667 | -€333 | -16.7% |
| Credit institutions | 430/8 | €2,000 | €1,667 | -€333 | -16.7% |
| Trade debts | 44 | €7,466 | €8,529 | +€1,063 | +14.2% |
| Suppliers | 440/4 | €7,466 | €8,529 | +€1,063 | +14.2% |
| Taxes, remuneration and social security | 45 | €8,627 | €8,756 | +€129 | +1.5% |
| Taxes | 450/3 | €8,627 | €8,756 | +€129 | +1.5% |
| Other amounts payable | 47/48 | €3,919 | €31,175 | +€27,256 | +696% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,143 | €15,706 | +€562 | +3.7% |
| Other operating charges | 640/8 | €1,397 | €1,218 | -€179 | -12.8% |
| Gross operating margin | 9900 | €41,820 | €38,225 | -€3,595 | -8.6% |
| Operating profit (loss) | 9901 | €25,279 | €21,301 | -€3,978 | -15.7% |
| Financial income | 75/76B | €1,538 | €0 | -€1,538 | -100.0% |
| Recurring financial income | 75 | €1,538 | €0 | -€1,538 | -100.0% |
| Financial charges | 65/66B | €1,988 | €1,556 | -€432 | -21.7% |
| Recurring financial charges | 65 | €1,988 | €1,556 | -€432 | -21.7% |
| Profit (loss) for the period before taxes | 9903 | €24,829 | €19,745 | -€5,084 | -20.5% |
| Income taxes | 67/77 | €6,821 | €5,659 | -€1,161 | -17.0% |
| Profit (loss) for the period | 9904 | €18,009 | €14,086 | -€3,923 | -21.8% |
| Profit (loss) for the period to be appropriated | 9905 | €18,009 | €14,086 | -€3,923 | -21.8% |
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 13 October 2026 via checked.be.