VANNICO: 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.
VANNICO
Largest movements
- Cash +€86,889
up €86,889 (+2059.8%), from €4,218 to €91,108
mainly Other debts (+€122,293) and Net result for the year (+€40,572)
- Deferred charges and accrued income -€30,809
down €30,809 (-95.6%), from €32,212 to €1,404
- Tangible fixed assets -€23,110
down €23,110 (-23.3%), from €99,331 to €76,221
of which Furniture and vehicles: -€13,996
- Receivables within one year +€9,179
up €9,179 (+37.3%), from €24,586 to €33,765
of which Other amounts receivable: +€7,464
- Other debts +€122,293
up €122,293 (+1703.7%), from €7,178 to €129,471
- Reserves -€84,428
down €84,428 (-57.0%), from €148,000 to €63,572
of which Distributable reserves: -€125,000
- Tax, wage and social debts +€4,370
up €4,370 (+61.7%), from €7,086 to €11,456
of which Taxes: +€2,370
- Gross operating margin +€8,540
up €8,540 (+11.7%), from €72,717 to €81,257
- Financial charges +€6,477
up €6,477, from -€5,990 to €486
- Taxes +€6,386
up €6,386 (+60.8%), from €10,500 to €16,886
- Financial income -€2,508
down €2,508 (-88.0%), from €2,850 to €342
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 | €185,288 | €227,671 | +€42,383 | +22.9% |
| Fixed assets | 21/28 | €99,331 | €76,221 | -€23,110 | -23.3% |
| Tangible fixed assets | 22/27 | €99,331 | €76,221 | -€23,110 | -23.3% |
| Furniture and vehicles | 24 | €27,021 | €13,025 | -€13,996 | -51.8% |
| Other tangible fixed assets | 26 | €72,310 | €63,196 | -€9,114 | -12.6% |
| Current assets | 29/58 | €85,957 | €151,450 | +€65,493 | +76.2% |
| Amounts receivable within one year | 40/41 | €24,586 | €33,765 | +€9,179 | +37.3% |
| Trade receivables | 40 | €20,086 | €21,801 | +€1,715 | +8.5% |
| Other amounts receivable | 41 | €4,500 | €11,965 | +€7,464 | +165.9% |
| Current investments | 50/53 | €24,940 | €25,174 | +€234 | +0.9% |
| Cash at bank and in hand | 54/58 | €4,218 | €91,108 | +€86,889 | +2059.8% |
| Deferred charges and accrued income | 490/1 | €32,212 | €1,404 | -€30,809 | -95.6% |
| Total equity and liabilities | 10/49 | €185,288 | €227,671 | +€42,383 | +22.9% |
| Equity | 10/15 | €167,308 | €82,880 | -€84,428 | -50.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €148,000 | €63,572 | -€84,428 | -57.0% |
| Non-distributable reserves | 130/1 | - | €40,572 | +€40,572 | |
| Other | 1319 | - | €40,572 | +€40,572 | |
| Tax-exempt reserves | 132 | €132 | €132 | = | 0.0% |
| Distributable reserves | 133 | €147,868 | €22,868 | -€125,000 | -84.5% |
| Profit (loss) carried forward | 14 | €708 | €708 | = | 0.0% |
| Amounts payable | 17/49 | €17,980 | €144,791 | +€126,811 | +705.3% |
| Amounts payable within one year | 42/48 | €15,930 | €143,263 | +€127,332 | +799.3% |
| Trade debts | 44 | €1,667 | €2,335 | +€669 | +40.1% |
| Suppliers | 440/4 | €1,667 | €2,335 | +€669 | +40.1% |
| Taxes, remuneration and social security | 45 | €7,086 | €11,456 | +€4,370 | +61.7% |
| Taxes | 450/3 | €7,086 | €9,456 | +€2,370 | +33.5% |
| Remuneration and social security | 454/9 | - | €2,000 | +€2,000 | |
| Other amounts payable | 47/48 | €7,178 | €129,471 | +€122,293 | +1703.7% |
| Accrued charges and deferred income | 492/3 | €2,050 | €1,528 | -€522 | -25.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,391 | €23,110 | -€280 | -1.2% |
| Other operating charges | 640/8 | €828 | €544 | -€284 | -34.3% |
| Gross operating margin | 9900 | €72,717 | €81,257 | +€8,540 | +11.7% |
| Operating profit (loss) | 9901 | €48,499 | €57,602 | +€9,104 | +18.8% |
| Financial income | 75/76B | €2,850 | €342 | -€2,508 | -88.0% |
| Recurring financial income | 75 | €2,850 | €342 | -€2,508 | -88.0% |
| Financial charges | 65/66B | -€5,990 | €486 | +€6,477 | |
| Recurring financial charges | 65 | -€5,990 | €486 | +€6,477 | |
| Profit (loss) for the period before taxes | 9903 | €57,339 | €57,458 | +€119 | +0.2% |
| Income taxes | 67/77 | €10,500 | €16,886 | +€6,386 | +60.8% |
| Profit (loss) for the period | 9904 | €46,839 | €40,572 | -€6,267 | -13.4% |
| Profit (loss) for the period to be appropriated | 9905 | €46,839 | €40,572 | -€6,267 | -13.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.