VANO: 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.
VANO
Largest movements
- Cash +€34,705
up €34,705 (+18.4%), from €188,177 to €222,882
mainly Net result for the year (+€67,646) and Depreciation (+€44,049)
- Reserves +€580,985
up €580,985 (+852.5%), from €68,149 to €649,134
- Profit (loss) carried forward -€513,339
down €513,339 (-100.0%), from €513,339 to €0
- Advances received -€29,090
down €29,090 (-100.0%), from €29,090 to €0
- Gross operating margin +€42,724
up €42,724 (+40.0%), from €106,768 to €149,492
- Depreciation +€9,204
up €9,204 (+26.4%), from €34,845 to €44,049
- Taxes +€9,149
up €9,149 (+39.1%), from €23,425 to €32,574
- Other operating charges +€5,130
new in 2025: €5,130
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 | €684,272 | €720,406 | +€36,134 | +5.3% |
| Fixed assets | 21/28 | €462,969 | €462,746 | -€223 | 0.0% |
| Tangible fixed assets | 22/27 | €462,969 | €462,746 | -€223 | 0.0% |
| Land and buildings | 22 | €385,942 | €411,881 | +€25,939 | +6.7% |
| Plant, machinery and equipment | 23 | €41,671 | €29,018 | -€12,653 | -30.4% |
| Furniture and vehicles | 24 | €35,356 | €21,847 | -€13,509 | -38.2% |
| Current assets | 29/58 | €221,303 | €257,660 | +€36,357 | +16.4% |
| Amounts receivable within one year | 40/41 | €9,846 | €10,537 | +€691 | +7.0% |
| Trade receivables | 40 | - | €10,537 | +€10,537 | |
| Other amounts receivable | 41 | €9,846 | €0 | -€9,846 | -100.0% |
| Cash at bank and in hand | 54/58 | €188,177 | €222,882 | +€34,705 | +18.4% |
| Deferred charges and accrued income | 490/1 | €23,280 | €24,241 | +€961 | +4.1% |
| Total equity and liabilities | 10/49 | €684,272 | €720,406 | +€36,134 | +5.3% |
| Equity | 10/15 | €601,488 | €669,134 | +€67,646 | +11.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €68,149 | €649,134 | +€580,985 | +852.5% |
| Distributable reserves | 133 | €68,149 | €649,134 | +€580,985 | +852.5% |
| Profit (loss) carried forward | 14 | €513,339 | €0 | -€513,339 | -100.0% |
| Amounts payable | 17/49 | €82,784 | €51,272 | -€31,512 | -38.1% |
| Amounts payable within one year | 42/48 | €82,784 | €51,272 | -€31,512 | -38.1% |
| Trade debts | 44 | €3,993 | €5,250 | +€1,257 | +31.5% |
| Suppliers | 440/4 | €3,993 | €5,250 | +€1,257 | +31.5% |
| Advances received on contracts in progress | 46 | €29,090 | €0 | -€29,090 | -100.0% |
| Taxes, remuneration and social security | 45 | €4,846 | €1,113 | -€3,733 | -77.0% |
| Taxes | 450/3 | €4,846 | €1,113 | -€3,733 | -77.0% |
| Other amounts payable | 47/48 | €44,855 | €44,910 | +€55 | +0.1% |
| Non-recurring operating income | 76A | €1,550 | €50,514 | +€48,964 | +3159.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,845 | €44,049 | +€9,204 | +26.4% |
| Other operating charges | 640/8 | - | €5,130 | +€5,130 | |
| Gross operating margin | 9900 | €106,768 | €149,492 | +€42,724 | +40.0% |
| Operating profit (loss) | 9901 | €71,923 | €100,313 | +€28,390 | +39.5% |
| Financial income | 75/76B | €35 | €4 | -€31 | -87.7% |
| Recurring financial income | 75 | €35 | €4 | -€31 | -87.7% |
| Financial charges | 65/66B | €69 | €97 | +€28 | +40.4% |
| Recurring financial charges | 65 | €69 | €97 | +€28 | +40.4% |
| Profit (loss) for the period before taxes | 9903 | €71,889 | €100,221 | +€28,332 | +39.4% |
| Income taxes | 67/77 | €23,425 | €32,574 | +€9,149 | +39.1% |
| Profit (loss) for the period | 9904 | €48,464 | €67,646 | +€19,182 | +39.6% |
| Profit (loss) for the period to be appropriated | 9905 | €48,464 | €67,646 | +€19,182 | +39.6% |
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 5 October 2026 via checked.be.