VANNIGRO: what changed
VANNIGRO
Largest movements
- Current investments -€436,826
down €436,826 (-41.3%), from €1.1m to €621,455
- Cash +€211,270
up €211,270 (+299%), from €70,711 to €281,981
mainly Current investments (+€436,826) and Depreciation (+€218,864)
- Tangible fixed assets +€155,138
up €155,138 (+20.4%), from €759,282 to €914,420
of which Furniture and vehicles: +€237,956
- Receivables within one year -€47,054
down €47,054 (-13.3%), from €353,836 to €306,783
of which Trade receivables: -€46,936
- Reserves -€104,875
down €104,875 (-9.3%), from €1.1m to €1.0m
of which Distributable reserves: -€104,875
- Debts after one year +€55,671
up €55,671 (+10.5%), from €530,033 to €585,704
- Tax, wage and social debts -€32,780
down €32,780 (-47.7%), from €68,734 to €35,954
of which Taxes: -€30,269
- Financial charges +€75,150
up €75,150, from -€10,828 to €64,322
- Depreciation +€51,555
up €51,555 (+30.8%), from €167,309 to €218,864
- Gross operating margin -€51,361
down €51,361 (-7.0%), from €737,756 to €686,395
- Taxes -€27,489
down €27,489 (-25.3%), from €108,690 to €81,202
- Staff costs -€13,854
down €13,854 (-7.9%), from €175,147 to €161,293
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,249,070 | €2,148,803 | -€100,267 | -4.5% |
| Fixed assets | 21/28 | €759,822 | €915,095 | +€155,273 | +20.4% |
| Tangible fixed assets | 22/27 | €759,282 | €914,420 | +€155,138 | +20.4% |
| Land and buildings | 22 | €468,512 | €419,072 | -€49,440 | -10.6% |
| Plant, machinery and equipment | 23 | €247,271 | €214,655 | -€32,615 | -13.2% |
| Furniture and vehicles | 24 | €42,737 | €280,693 | +€237,956 | +557% |
| Other tangible fixed assets | 26 | €764 | €0 | -€764 | -100% |
| Financial fixed assets | 28 | €540 | €675 | +€135 | +25.0% |
| Current assets | 29/58 | €1,489,248 | €1,233,708 | -€255,540 | -17.2% |
| Amounts receivable within one year | 40/41 | €353,836 | €306,783 | -€47,054 | -13.3% |
| Trade receivables | 40 | €336,636 | €289,700 | -€46,936 | -13.9% |
| Other amounts receivable | 41 | €17,200 | €17,082 | -€118 | -0.7% |
| Current investments | 50/53 | €1,058,281 | €621,455 | -€436,826 | -41.3% |
| Cash at bank and in hand | 54/58 | €70,711 | €281,981 | +€211,270 | +299% |
| Deferred charges and accrued income | 490/1 | €6,419 | €23,490 | +€17,071 | +266% |
| Total equity and liabilities | 10/49 | €2,249,070 | €2,148,803 | -€100,267 | -4.5% |
| Equity | 10/15 | €1,551,124 | €1,446,249 | -€104,875 | -6.8% |
| Contributions | 10/11 | €422,560 | €422,560 | = | 0.0% |
| Reserves | 13 | €1,128,564 | €1,023,689 | -€104,875 | -9.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,128,564 | €1,023,689 | -€104,875 | -9.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €697,946 | €702,554 | +€4,608 | +0.7% |
| Amounts payable after more than one year | 17 | €530,033 | €585,704 | +€55,671 | +10.5% |
| Other amounts payable | 178/9 | €530,033 | €585,704 | +€55,671 | +10.5% |
| Amounts payable within one year | 42/48 | €125,625 | €85,149 | -€40,476 | -32.2% |
| Trade debts | 44 | €56,891 | €49,196 | -€7,695 | -13.5% |
| Suppliers | 440/4 | €56,891 | €49,196 | -€7,695 | -13.5% |
| Taxes, remuneration and social security | 45 | €68,734 | €35,954 | -€32,780 | -47.7% |
| Taxes | 450/3 | €50,204 | €19,934 | -€30,269 | -60.3% |
| Remuneration and social security | 454/9 | €18,530 | €16,019 | -€2,511 | -13.6% |
| Accrued charges and deferred income | 492/3 | €42,287 | €31,701 | -€10,587 | -25.0% |
| Non-recurring operating income | 76A | €33,885 | €0 | -€33,885 | -100% |
| Remuneration, social security and pensions | 62 | €175,147 | €161,293 | -€13,854 | -7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €167,309 | €218,864 | +€51,555 | +30.8% |
| Other operating charges | 640/8 | €11,107 | €13,608 | +€2,501 | +22.5% |
| Non-recurring operating charges | 66A | €2,200 | €0 | -€2,200 | -100% |
| Gross operating margin | 9900 | €737,756 | €686,395 | -€51,361 | -7.0% |
| Operating profit (loss) | 9901 | €381,992 | €292,629 | -€89,363 | -23.4% |
| Financial income | 75/76B | €27,989 | €29,371 | +€1,382 | +4.9% |
| Recurring financial income | 75 | €27,989 | €29,371 | +€1,382 | +4.9% |
| Financial charges | 65/66B | -€10,828 | €64,322 | +€75,150 | |
| Recurring financial charges | 65 | -€10,828 | €64,322 | +€75,150 | |
| Profit (loss) for the period before taxes | 9903 | €420,809 | €257,678 | -€163,131 | -38.8% |
| Income taxes | 67/77 | €108,690 | €81,202 | -€27,489 | -25.3% |
| Profit (loss) for the period | 9904 | €312,119 | €176,476 | -€135,642 | -43.5% |
| Profit (loss) for the period to be appropriated | 9905 | €312,119 | €176,476 | -€135,642 | -43.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.