VANODA: 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.
VANODA
Largest movements
- Tangible fixed assets -€55,172
down €55,172 (-10.7%), from €513,474 to €458,302
of which Land and buildings: -€55,172
- Intangible fixed assets -€35,100
down €35,100 (-33.3%), from €105,300 to €70,200
- Short-term financial debts +€361,723
up €361,723 (+303.6%), from €119,144 to €480,868
of which Credit institutions: +€386,018
- Debts after one year -€313,284
no longer reported in 2024 (was €313,284)
- Current portion of long-term debt -€46,253
down €46,253 (-53.6%), from €86,253 to €40,000
- Profit (loss) carried forward -€35,206
down €35,206 (-12.6%), from €278,910 to €243,704
- Gross operating margin +€92,802
up €92,802 (+311.5%), from €29,792 to €122,594
- Financial charges +€50,185
up €50,185 (+289.4%), from €17,343 to €67,527
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,621,014 | €2,583,237 | -€37,777 | -1.4% |
| Fixed assets | 21/28 | €618,774 | €528,502 | -€90,272 | -14.6% |
| Intangible fixed assets | 21 | €105,300 | €70,200 | -€35,100 | -33.3% |
| Tangible fixed assets | 22/27 | €513,474 | €458,302 | -€55,172 | -10.7% |
| Land and buildings | 22 | €314,015 | €258,843 | -€55,172 | -17.6% |
| Plant, machinery and equipment | 23 | €199,460 | €199,460 | = | 0.0% |
| Current assets | 29/58 | €2,002,239 | €2,054,734 | +€52,495 | +2.6% |
| Stocks and contracts in progress | 3 | €12,253 | €12,253 | = | 0.0% |
| Stocks | 30/36 | €12,253 | €12,253 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,953,735 | €1,975,874 | +€22,139 | +1.1% |
| Trade receivables | 40 | €75,551 | €79,901 | +€4,350 | +5.8% |
| Other amounts receivable | 41 | €1,878,185 | €1,895,973 | +€17,789 | +0.9% |
| Cash at bank and in hand | 54/58 | - | €7,576 | +€7,576 | |
| Deferred charges and accrued income | 490/1 | €36,251 | €59,031 | +€22,780 | +62.8% |
| Total equity and liabilities | 10/49 | €2,621,014 | €2,583,237 | -€37,777 | -1.4% |
| Equity | 10/15 | €1,012,007 | €976,802 | -€35,206 | -3.5% |
| Contributions | 10/11 | €175,013 | €175,013 | = | 0.0% |
| Capital | 10 | €175,013 | €175,013 | = | 0.0% |
| Issued capital | 100 | €175,013 | €175,013 | = | 0.0% |
| Reserves | 13 | €558,085 | €558,085 | = | 0.0% |
| Non-distributable reserves | 130/1 | €17,501 | €17,501 | = | 0.0% |
| Legal reserve | 130 | €17,501 | €17,501 | = | 0.0% |
| Distributable reserves | 133 | €540,583 | €540,583 | = | 0.0% |
| Profit (loss) carried forward | 14 | €278,910 | €243,704 | -€35,206 | -12.6% |
| Amounts payable | 17/49 | €1,609,007 | €1,606,435 | -€2,572 | -0.2% |
| Amounts payable after more than one year | 17 | €313,284 | - | -€313,284 | |
| Financial debts | 170/4 | €313,284 | - | -€313,284 | |
| Amounts payable within one year | 42/48 | €1,295,723 | €1,606,435 | +€310,712 | +24.0% |
| Current portion of amounts payable after more than one year | 42 | €86,253 | €40,000 | -€46,253 | -53.6% |
| Financial debts | 43 | €119,144 | €480,868 | +€361,723 | +303.6% |
| Credit institutions | 430/8 | €94,850 | €480,868 | +€386,018 | +407.0% |
| Other loans | 439 | €24,294 | - | -€24,294 | |
| Trade debts | 44 | €747,650 | €749,969 | +€2,319 | +0.3% |
| Suppliers | 440/4 | €747,650 | €749,969 | +€2,319 | +0.3% |
| Taxes, remuneration and social security | 45 | €123,226 | €130,388 | +€7,162 | +5.8% |
| Taxes | 450/3 | €122,360 | €129,522 | +€7,162 | +5.9% |
| Remuneration and social security | 454/9 | €866 | €866 | = | 0.0% |
| Other amounts payable | 47/48 | €219,450 | €205,210 | -€14,240 | -6.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €90,272 | €90,272 | = | 0.0% |
| Gross operating margin | 9900 | €29,792 | €122,594 | +€92,802 | +311.5% |
| Operating profit (loss) | 9901 | -€60,480 | €32,322 | +€92,802 | |
| Financial charges | 65/66B | €17,343 | €67,527 | +€50,185 | +289.4% |
| Recurring financial charges | 65 | €17,343 | €67,527 | +€50,185 | +289.4% |
| Profit (loss) for the period before taxes | 9903 | -€77,822 | -€35,206 | +€42,617 | +54.8% |
| Profit (loss) for the period | 9904 | -€77,822 | -€35,206 | +€42,617 | +54.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€77,822 | -€35,206 | +€42,617 | +54.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.