VANOLI: 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.
VANOLI
Largest movements
- Receivables within one year -€60,496
down €60,496 (-52.5%), from €115,316 to €54,819
of which Other amounts receivable: -€113,066
- Cash +€22,233
up €22,233 (+142%), from €15,676 to €37,909
mainly Receivables within one year (+€60,496) and Depreciation (+€23,659)
- Tangible fixed assets +€14,605
up €14,605 (+4.2%), from €348,419 to €363,024
of which Plant, machinery and equipment: +€11,329
- Trade debts -€34,131
down €34,131 (-81.8%), from €41,749 to €7,618
- Debts after one year -€23,443
down €23,443 (-6.8%), from €345,503 to €322,060
- Other debts +€17,483
up €17,483 (+72.0%), from €24,269 to €41,752
- Tax, wage and social debts +€9,644
up €9,644 (+2,411%), from €400 to €10,044
- Reserves +€7,500
new in 2025: €7,500
- Gross operating margin -€24,003
down €24,003 (-33.4%), from €71,786 to €47,782
- Financial charges +€8,825
up €8,825 (+214%), from €4,114 to €12,939
- Depreciation +€5,453
up €5,453 (+30.0%), from €18,206 to €23,659
- Taxes -€2,630
down €2,630 (-48.7%), from €5,400 to €2,770
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 | €479,410 | €455,752 | -€23,658 | -4.9% |
| Fixed assets | 21/28 | €348,419 | €363,024 | +€14,605 | +4.2% |
| Tangible fixed assets | 22/27 | €348,419 | €363,024 | +€14,605 | +4.2% |
| Land and buildings | 22 | €319,849 | €327,779 | +€7,930 | +2.5% |
| Plant, machinery and equipment | 23 | - | €11,329 | +€11,329 | |
| Furniture and vehicles | 24 | €28,570 | €23,916 | -€4,654 | -16.3% |
| Current assets | 29/58 | €130,991 | €92,728 | -€38,263 | -29.2% |
| Amounts receivable within one year | 40/41 | €115,316 | €54,819 | -€60,496 | -52.5% |
| Trade receivables | 40 | - | €52,569 | +€52,569 | |
| Other amounts receivable | 41 | €115,316 | €2,250 | -€113,066 | -98.0% |
| Cash at bank and in hand | 54/58 | €15,676 | €37,909 | +€22,233 | +142% |
| Total equity and liabilities | 10/49 | €479,410 | €455,752 | -€23,658 | -4.9% |
| Equity | 10/15 | €41,865 | €47,848 | +€5,982 | +14.3% |
| Contributions | 10/11 | €60 | €60 | = | 0.0% |
| Reserves | 13 | - | €7,500 | +€7,500 | |
| Distributable reserves | 133 | - | €7,500 | +€7,500 | |
| Profit (loss) carried forward | 14 | €41,805 | €40,288 | -€1,518 | -3.6% |
| Amounts payable | 17/49 | €437,544 | €407,904 | -€29,640 | -6.8% |
| Amounts payable after more than one year | 17 | €345,503 | €322,060 | -€23,443 | -6.8% |
| Financial debts | 170/4 | €345,503 | €322,060 | -€23,443 | -6.8% |
| Amounts payable within one year | 42/48 | €92,041 | €85,844 | -€6,197 | -6.7% |
| Current portion of amounts payable after more than one year | 42 | €25,623 | €26,430 | +€807 | +3.2% |
| Trade debts | 44 | €41,749 | €7,618 | -€34,131 | -81.8% |
| Suppliers | 440/4 | €41,749 | €7,618 | -€34,131 | -81.8% |
| Taxes, remuneration and social security | 45 | €400 | €10,044 | +€9,644 | +2,411% |
| Taxes | 450/3 | €400 | €10,044 | +€9,644 | +2,411% |
| Other amounts payable | 47/48 | €24,269 | €41,752 | +€17,483 | +72.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,206 | €23,659 | +€5,453 | +30.0% |
| Other operating charges | 640/8 | €542 | €882 | +€340 | +62.8% |
| Gross operating margin | 9900 | €71,786 | €47,782 | -€24,003 | -33.4% |
| Operating profit (loss) | 9901 | €53,038 | €23,241 | -€29,796 | -56.2% |
| Financial income | 75/76B | - | €116 | +€116 | |
| Recurring financial income | 75 | - | €116 | +€116 | |
| Financial charges | 65/66B | €4,114 | €12,939 | +€8,825 | +214% |
| Recurring financial charges | 65 | €4,114 | €12,939 | +€8,825 | +214% |
| Profit (loss) for the period before taxes | 9903 | €48,923 | €10,419 | -€38,505 | -78.7% |
| Income taxes | 67/77 | €5,400 | €2,770 | -€2,630 | -48.7% |
| Profit (loss) for the period | 9904 | €43,523 | €7,648 | -€35,875 | -82.4% |
| Profit (loss) for the period to be appropriated | 9905 | €43,523 | €7,648 | -€35,875 | -82.4% |
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 16 October 2026 via checked.be.