VANO TEAM: what changed
Two financial 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 TEAM
Largest movements
- Receivables within one year +€107,065
up €107,065 (+120%), from €89,267 to €196,332
of which Trade receivables: +€168,566
- Tangible fixed assets -€89,943
down €89,943 (-9.8%), from €920,198 to €830,255
of which Other tangible fixed assets: -€73,010
- Debts after one year -€55,417
down €55,417 (-48.7%), from €113,810 to €58,394
of which Other amounts payable: -€40,429
- Current portion of long-term debt -€46,190
down €46,190 (-70.3%), from €65,737 to €19,547
- Trade debts +€36,027
up €36,027 (+9.0%), from €402,242 to €438,269
- Profit (loss) carried forward +€33,133
up €33,133 (+39.6%), from €83,607 to €116,739
- Tax, wage and social debts +€31,667
up €31,667 (+20.5%), from €154,347 to €186,014
of which Taxes: +€15,930
- Staff costs +€41,264
up €41,264 (+5.2%), from €791,959 to €833,224
- Taxes +€16,788
up €16,788 (+216%), from €7,773 to €24,561
- Depreciation -€12,135
down €12,135 (-6.0%), from €202,807 to €190,672
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.
Derived cash bridge
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 | €1,147,033 | €1,167,427 | +€20,394 | +1.8% |
| Fixed assets | 21/28 | €940,717 | €844,892 | -€95,824 | -10.2% |
| Intangible fixed assets | 21 | €20,419 | €14,538 | -€5,881 | -28.8% |
| Tangible fixed assets | 22/27 | €920,198 | €830,255 | -€89,943 | -9.8% |
| Furniture and vehicles | 24 | €408,175 | €391,242 | -€16,933 | -4.1% |
| Other tangible fixed assets | 26 | €512,023 | €439,013 | -€73,010 | -14.3% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €206,317 | €322,535 | +€116,218 | +56.3% |
| Stocks and contracts in progress | 3 | €70,821 | €75,821 | +€5,000 | +7.1% |
| Stocks | 30/36 | €70,821 | €75,821 | +€5,000 | +7.1% |
| Amounts receivable within one year | 40/41 | €89,267 | €196,332 | +€107,065 | +120% |
| Trade receivables | 40 | €27,766 | €196,332 | +€168,566 | +607% |
| Other amounts receivable | 41 | €61,500 | - | -€61,500 | |
| Cash at bank and in hand | 54/58 | €42,590 | €46,778 | +€4,188 | +9.8% |
| Deferred charges and accrued income | 490/1 | €3,639 | €3,603 | -€36 | -1.0% |
| Total equity and liabilities | 10/49 | €1,147,033 | €1,167,427 | +€20,394 | +1.8% |
| Equity | 10/15 | €345,011 | €365,862 | +€20,852 | +6.0% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €83,607 | €116,739 | +€33,133 | +39.6% |
| Investment grants | 15 | €61,404 | €49,123 | -€12,281 | -20.0% |
| Amounts payable | 17/49 | €802,023 | €801,565 | -€458 | -0.1% |
| Amounts payable after more than one year | 17 | €113,810 | €58,394 | -€55,417 | -48.7% |
| Financial debts | 170/4 | €66,393 | €51,405 | -€14,988 | -22.6% |
| Other amounts payable | 178/9 | €47,417 | €6,989 | -€40,429 | -85.3% |
| Amounts payable within one year | 42/48 | €687,099 | €742,370 | +€55,272 | +8.0% |
| Current portion of amounts payable after more than one year | 42 | €65,737 | €19,547 | -€46,190 | -70.3% |
| Financial debts | 43 | €36,730 | €34,400 | -€2,330 | -6.3% |
| Credit institutions | 430/8 | €36,730 | €34,400 | -€2,330 | -6.3% |
| Trade debts | 44 | €402,242 | €438,269 | +€36,027 | +9.0% |
| Suppliers | 440/4 | €402,242 | €438,269 | +€36,027 | +9.0% |
| Advances received on contracts in progress | 46 | €28,043 | €33,553 | +€5,510 | +19.6% |
| Taxes, remuneration and social security | 45 | €154,347 | €186,014 | +€31,667 | +20.5% |
| Taxes | 450/3 | €32,622 | €48,552 | +€15,930 | +48.8% |
| Remuneration and social security | 454/9 | €121,725 | €137,462 | +€15,737 | +12.9% |
| Other amounts payable | 47/48 | - | €30,588 | +€30,588 | |
| Accrued charges and deferred income | 492/3 | €1,113 | €800 | -€313 | -28.1% |
| Remuneration, social security and pensions | 62 | €791,959 | €833,224 | +€41,264 | +5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €202,807 | €190,672 | -€12,135 | -6.0% |
| Other operating charges | 640/8 | €13,329 | €11,475 | -€1,854 | -13.9% |
| Non-recurring operating charges | 66A | €44,340 | €44,904 | +€564 | +1.3% |
| Gross operating margin | 9900 | €1,199,665 | €1,202,507 | +€2,843 | +0.2% |
| Operating profit (loss) | 9901 | €147,229 | €122,232 | -€24,997 | -17.0% |
| Financial income | 75/76B | €12,284 | €12,329 | +€45 | +0.4% |
| Recurring financial income | 75 | €12,284 | €12,329 | +€45 | +0.4% |
| Financial charges | 65/66B | €50,605 | €46,279 | -€4,326 | -8.5% |
| Recurring financial charges | 65 | €50,605 | €46,279 | -€4,326 | -8.5% |
| Profit (loss) for the period before taxes | 9903 | €108,908 | €88,282 | -€20,626 | -18.9% |
| Income taxes | 67/77 | €7,773 | €24,561 | +€16,788 | +216% |
| Profit (loss) for the period | 9904 | €101,134 | €63,721 | -€37,413 | -37.0% |
| Profit (loss) for the period to be appropriated | 9905 | €101,134 | €63,721 | -€37,413 | -37.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.