VANNIC: 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.
VANNIC
Largest movements
- Stocks and contracts +€48,733
up €48,733 (+14.4%), from €338,066 to €386,799
- Deferred charges and accrued income -€14,888
down €14,888 (-96.1%), from €15,491 to €603
- Receivables within one year +€13,609
up €13,609 (+29.9%), from €45,486 to €59,095
of which Trade receivables: +€11,793
- Short-term financial debts +€25,000
up €25,000 (+11.6%), from €215,000 to €240,000
- Trade debts +€23,010
new in 2025: €23,010
- Profit (loss) carried forward -€10,584
down €10,584 (-39.8%), from €26,604 to €16,020
- Tax, wage and social debts +€6,510
up €6,510 (+3829288.2%), from €0 to €6,510
- Gross operating margin -€28,631
down €28,631 (-45.5%), from €62,965 to €34,334
- Other operating charges +€11,178
up €11,178 (+445.1%), from €2,511 to €13,690
- Taxes -€4,823
down €4,823 (-100.0%), from €4,823 to €0
- Financial charges +€1,472
up €1,472 (+7.2%), from €20,411 to €21,883
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 | €467,483 | €519,670 | +€52,187 | +11.2% |
| Formation expenses | 20 | €433 | €0 | -€433 | -100.0% |
| Fixed assets | 21/28 | €53,007 | €59,076 | +€6,069 | +11.4% |
| Intangible fixed assets | 21 | - | €33 | +€33 | |
| Tangible fixed assets | 22/27 | €53,007 | €55,293 | +€2,286 | +4.3% |
| Land and buildings | 22 | €14,758 | €21,339 | +€6,581 | +44.6% |
| Plant, machinery and equipment | 23 | €23,022 | €32,522 | +€9,500 | +41.3% |
| Furniture and vehicles | 24 | €15,227 | €1,432 | -€13,795 | -90.6% |
| Financial fixed assets | 28 | - | €3,750 | +€3,750 | |
| Current assets | 29/58 | €414,042 | €460,593 | +€46,551 | +11.2% |
| Stocks and contracts in progress | 3 | €338,066 | €386,799 | +€48,733 | +14.4% |
| Stocks | 30/36 | €338,066 | €386,799 | +€48,733 | +14.4% |
| Amounts receivable within one year | 40/41 | €45,486 | €59,095 | +€13,609 | +29.9% |
| Trade receivables | 40 | €10,000 | €21,793 | +€11,793 | +117.9% |
| Other amounts receivable | 41 | €35,486 | €37,302 | +€1,817 | +5.1% |
| Cash at bank and in hand | 54/58 | €15,000 | €14,097 | -€903 | -6.0% |
| Deferred charges and accrued income | 490/1 | €15,491 | €603 | -€14,888 | -96.1% |
| Total equity and liabilities | 10/49 | €467,483 | €519,670 | +€52,187 | +11.2% |
| Equity | 10/15 | €80,834 | €70,250 | -€10,584 | -13.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €34,230 | €34,230 | = | 0.0% |
| Distributable reserves | 133 | €34,230 | €34,230 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,604 | €16,020 | -€10,584 | -39.8% |
| Amounts payable | 17/49 | €386,648 | €449,419 | +€62,771 | +16.2% |
| Amounts payable within one year | 42/48 | €386,648 | €445,655 | +€59,007 | +15.3% |
| Financial debts | 43 | €215,000 | €240,000 | +€25,000 | +11.6% |
| Credit institutions | 430/8 | €215,000 | €240,000 | +€25,000 | +11.6% |
| Trade debts | 44 | - | €23,010 | +€23,010 | |
| Suppliers | 440/4 | - | €23,010 | +€23,010 | |
| Taxes, remuneration and social security | 45 | €0 | €6,510 | +€6,510 | +3829288.2% |
| Taxes | 450/3 | €0 | €6,510 | +€6,510 | +3829288.2% |
| Other amounts payable | 47/48 | €171,648 | €176,135 | +€4,487 | +2.6% |
| Accrued charges and deferred income | 492/3 | - | €3,764 | +€3,764 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,116 | €9,350 | +€233 | +2.6% |
| Other operating charges | 640/8 | €2,511 | €13,690 | +€11,178 | +445.1% |
| Gross operating margin | 9900 | €62,965 | €34,334 | -€28,631 | -45.5% |
| Operating profit (loss) | 9901 | €51,337 | €11,295 | -€40,042 | -78.0% |
| Financial income | 75/76B | €500 | €4 | -€496 | -99.2% |
| Recurring financial income | 75 | €500 | €4 | -€496 | -99.2% |
| Financial charges | 65/66B | €20,411 | €21,883 | +€1,472 | +7.2% |
| Recurring financial charges | 65 | €20,411 | €21,883 | +€1,472 | +7.2% |
| Profit (loss) for the period before taxes | 9903 | €31,426 | -€10,584 | -€42,010 | |
| Income taxes | 67/77 | €4,823 | €0 | -€4,823 | -100.0% |
| Profit (loss) for the period | 9904 | €26,604 | -€10,584 | -€37,188 | |
| Profit (loss) for the period to be appropriated | 9905 | €26,604 | -€10,584 | -€37,188 |
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 8 October 2026 via checked.be.