VANO Security: 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 Security
Largest movements
- Current investments -€200,000
no longer reported in 2025 (was €200,000)
- Cash +€78,330
up €78,330 (+35.0%), from €223,584 to €301,914
mainly Current investments (+€200,000) and Depreciation (+€77,508)
- Receivables within one year +€23,227
up €23,227 (+13.8%), from €168,355 to €191,582
of which Trade receivables: +€36,131
- Tangible fixed assets -€17,450
down €17,450 (-9.4%), from €184,792 to €167,342
of which Furniture and vehicles: -€9,817
- Stocks and contracts -€10,692
down €10,692 (-5.8%), from €185,181 to €174,490
- Trade debts -€84,002
down €84,002 (-65.1%), from €129,024 to €45,022
- Advances received -€39,813
no longer reported in 2025 (was €39,813)
- Tax, wage and social debts -€28,558
down €28,558 (-30.4%), from €93,969 to €65,411
of which Remuneration and social security: -€27,816
- Profit (loss) carried forward +€20,814
up €20,814, from -€7,730 to €13,084
- Gross operating margin +€88,960
up €88,960 (+12.5%), from €714,344 to €803,305
- Staff costs +€55,685
up €55,685 (+8.6%), from €646,655 to €702,340
- Financial income +€9,475
up €9,475 (+259.9%), from €3,645 to €13,120
of which Non-recurring financial income: +€8,837
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 | €978,204 | €857,109 | -€121,095 | -12.4% |
| Fixed assets | 21/28 | €193,961 | €177,973 | -€15,988 | -8.2% |
| Intangible fixed assets | 21 | €9,169 | €10,631 | +€1,461 | +15.9% |
| Tangible fixed assets | 22/27 | €184,792 | €167,342 | -€17,450 | -9.4% |
| Plant, machinery and equipment | 23 | €35,994 | €27,369 | -€8,625 | -24.0% |
| Furniture and vehicles | 24 | €148,798 | €138,981 | -€9,817 | -6.6% |
| Other tangible fixed assets | 26 | - | €992 | +€992 | |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €784,243 | €679,136 | -€105,107 | -13.4% |
| Stocks and contracts in progress | 3 | €185,181 | €174,490 | -€10,692 | -5.8% |
| Stocks | 30/36 | €185,181 | €174,490 | -€10,692 | -5.8% |
| Amounts receivable within one year | 40/41 | €168,355 | €191,582 | +€23,227 | +13.8% |
| Trade receivables | 40 | €146,363 | €182,495 | +€36,131 | +24.7% |
| Other amounts receivable | 41 | €21,992 | €9,087 | -€12,904 | -58.7% |
| Current investments | 50/53 | €200,000 | - | -€200,000 | |
| Cash at bank and in hand | 54/58 | €223,584 | €301,914 | +€78,330 | +35.0% |
| Deferred charges and accrued income | 490/1 | €7,122 | €11,150 | +€4,028 | +56.6% |
| Total equity and liabilities | 10/49 | €978,204 | €857,109 | -€121,095 | -12.4% |
| Equity | 10/15 | €610,432 | €631,247 | +€20,814 | +3.4% |
| Contributions | 10/11 | €562,500 | €562,500 | = | 0.0% |
| Capital | 10 | €562,500 | €562,500 | = | 0.0% |
| Issued capital | 100 | €562,500 | €562,500 | = | 0.0% |
| Reserves | 13 | €55,663 | €55,663 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,544 | €9,544 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,437 | €7,437 | = | 0.0% |
| Other | 1319 | €2,108 | €2,108 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,836 | €1,836 | = | 0.0% |
| Distributable reserves | 133 | €44,283 | €44,283 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,730 | €13,084 | +€20,814 | |
| Amounts payable | 17/49 | €367,771 | €225,862 | -€141,909 | -38.6% |
| Amounts payable after more than one year | 17 | €43,802 | €45,483 | +€1,681 | +3.8% |
| Financial debts | 170/4 | €43,802 | €45,483 | +€1,681 | +3.8% |
| Amounts payable within one year | 42/48 | €323,969 | €180,379 | -€143,590 | -44.3% |
| Current portion of amounts payable after more than one year | 42 | €38,432 | €47,214 | +€8,782 | +22.9% |
| Financial debts | 43 | €22,624 | €22,624 | = | 0.0% |
| Credit institutions | 430/8 | €22,624 | €22,624 | = | 0.0% |
| Trade debts | 44 | €129,024 | €45,022 | -€84,002 | -65.1% |
| Suppliers | 440/4 | €129,024 | €45,022 | -€84,002 | -65.1% |
| Advances received on contracts in progress | 46 | €39,813 | - | -€39,813 | |
| Taxes, remuneration and social security | 45 | €93,969 | €65,411 | -€28,558 | -30.4% |
| Taxes | 450/3 | €813 | €72 | -€742 | -91.2% |
| Remuneration and social security | 454/9 | €93,156 | €65,340 | -€27,816 | -29.9% |
| Other amounts payable | 47/48 | €108 | €108 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €646,655 | €702,340 | +€55,685 | +8.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,667 | €77,508 | +€7,841 | +11.3% |
| Other operating charges | 640/8 | €10,473 | €9,778 | -€696 | -6.6% |
| Gross operating margin | 9900 | €714,344 | €803,305 | +€88,960 | +12.5% |
| Operating profit (loss) | 9901 | -€12,451 | €13,680 | +€26,131 | |
| Financial income | 75/76B | €3,645 | €13,120 | +€9,475 | +259.9% |
| Recurring financial income | 75 | €1,229 | €1,867 | +€638 | +51.9% |
| Non-recurring financial income | 76B | €2,416 | €11,253 | +€8,837 | +365.8% |
| Financial charges | 65/66B | €7,080 | €5,014 | -€2,066 | -29.2% |
| Recurring financial charges | 65 | €3,977 | €3,667 | -€310 | -7.8% |
| Non-recurring financial charges | 66B | €3,102 | €1,346 | -€1,756 | -56.6% |
| Profit (loss) for the period before taxes | 9903 | -€15,885 | €21,786 | +€37,672 | |
| Income taxes | 67/77 | €813 | €972 | +€159 | +19.5% |
| Profit (loss) for the period | 9904 | -€16,699 | €20,814 | +€37,513 | |
| Profit (loss) for the period to be appropriated | 9905 | -€16,699 | €20,814 | +€37,513 |
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 6 October 2026 via checked.be.