Vanneste Projects: 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 Projects
Largest movements
- Receivables within one year -€84,733
down €84,733 (-32.4%), from €261,174 to €176,441
of which Trade receivables: -€82,116
- Cash -€29,705
down €29,705 (-78.8%), from €37,694 to €7,989
mainly Other debts (-€71,714) and Trade debts (-€57,981)
- Current investments +€29,107
new in 2024: €29,107
- Deferred charges and accrued income +€6,892
up €6,892 (+121%), from €5,685 to €12,576
- Other debts -€71,714
down €71,714 (-100%), from €71,714 to €0
- Reserves +€64,289
up €64,289 (+84.6%), from €75,950 to €140,239
of which Distributable reserves: +€64,289
- Trade debts -€57,981
down €57,981 (-84.1%), from €68,910 to €10,928
- Debts after one year -€24,946
down €24,946 (-14.3%), from €174,500 to €149,554
- Current portion of long-term debt +€17,493
up €17,493 (+54.9%), from €31,879 to €49,371
- Gross operating margin -€33,389
down €33,389 (-15.4%), from €216,329 to €182,940
- Staff costs -€13,851
down €13,851 (-12.6%), from €109,812 to €95,961
- Other operating charges +€12,913
up €12,913 (+880%), from €1,468 to €14,381
- Taxes -€12,583
down €12,583 (-63.8%), from €19,726 to €7,143
- Depreciation +€11,874
up €11,874 (+31.7%), from €37,516 to €49,390
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €505,370 | €427,916 | -€77,454 | -15.3% |
| Fixed assets | 21/28 | €200,817 | €201,803 | +€986 | +0.5% |
| Tangible fixed assets | 22/27 | €200,817 | €201,803 | +€986 | +0.5% |
| Land and buildings | 22 | €143,794 | €125,992 | -€17,802 | -12.4% |
| Plant, machinery and equipment | 23 | €29,930 | €44,398 | +€14,468 | +48.3% |
| Furniture and vehicles | 24 | €27,094 | €31,414 | +€4,320 | +15.9% |
| Current assets | 29/58 | €304,553 | €226,113 | -€78,439 | -25.8% |
| Amounts receivable within one year | 40/41 | €261,174 | €176,441 | -€84,733 | -32.4% |
| Trade receivables | 40 | €93,620 | €11,504 | -€82,116 | -87.7% |
| Other amounts receivable | 41 | €167,554 | €164,937 | -€2,617 | -1.6% |
| Current investments | 50/53 | - | €29,107 | +€29,107 | |
| Cash at bank and in hand | 54/58 | €37,694 | €7,989 | -€29,705 | -78.8% |
| Deferred charges and accrued income | 490/1 | €5,685 | €12,576 | +€6,892 | +121% |
| Total equity and liabilities | 10/49 | €505,370 | €427,916 | -€77,454 | -15.3% |
| Equity | 10/15 | €120,950 | €185,239 | +€64,289 | +53.2% |
| Contributions | 10/11 | €45,000 | €45,000 | = | 0.0% |
| Reserves | 13 | €75,950 | €140,239 | +€64,289 | +84.6% |
| Non-distributable reserves | 130/1 | €4,500 | €4,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,500 | €4,500 | = | 0.0% |
| Distributable reserves | 133 | €71,450 | €135,739 | +€64,289 | +90.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €384,420 | €242,677 | -€141,743 | -36.9% |
| Amounts payable after more than one year | 17 | €174,500 | €149,554 | -€24,946 | -14.3% |
| Financial debts | 170/4 | €174,500 | €149,554 | -€24,946 | -14.3% |
| Amounts payable within one year | 42/48 | €209,920 | €93,123 | -€116,797 | -55.6% |
| Current portion of amounts payable after more than one year | 42 | €31,879 | €49,371 | +€17,493 | +54.9% |
| Financial debts | 43 | €134 | €9,494 | +€9,360 | +6,983% |
| Credit institutions | 430/8 | €134 | €9,494 | +€9,360 | +6,983% |
| Trade debts | 44 | €68,910 | €10,928 | -€57,981 | -84.1% |
| Suppliers | 440/4 | €68,910 | €10,928 | -€57,981 | -84.1% |
| Taxes, remuneration and social security | 45 | €37,284 | €23,329 | -€13,955 | -37.4% |
| Taxes | 450/3 | €26,351 | €21,901 | -€4,450 | -16.9% |
| Remuneration and social security | 454/9 | €10,933 | €1,428 | -€9,505 | -86.9% |
| Other amounts payable | 47/48 | €71,714 | €0 | -€71,714 | -100% |
| Remuneration, social security and pensions | 62 | €109,812 | €95,961 | -€13,851 | -12.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,516 | €49,390 | +€11,874 | +31.7% |
| Other operating charges | 640/8 | €1,468 | €14,381 | +€12,913 | +880% |
| Gross operating margin | 9900 | €216,329 | €182,940 | -€33,389 | -15.4% |
| Operating profit (loss) | 9901 | €67,533 | €23,208 | -€44,324 | -65.6% |
| Financial income | 75/76B | €6,388 | €10,837 | +€4,449 | +69.6% |
| Recurring financial income | 75 | €6,388 | €10,837 | +€4,449 | +69.6% |
| Financial charges | 65/66B | €8,456 | €10,422 | +€1,966 | +23.2% |
| Recurring financial charges | 65 | €8,456 | €10,422 | +€1,966 | +23.2% |
| Profit (loss) for the period before taxes | 9903 | €65,465 | €23,623 | -€41,842 | -63.9% |
| Income taxes | 67/77 | €19,726 | €7,143 | -€12,583 | -63.8% |
| Profit (loss) for the period | 9904 | €45,738 | €16,480 | -€29,258 | -64.0% |
| Profit (loss) for the period to be appropriated | 9905 | €45,738 | €16,480 | -€29,258 | -64.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.