VANOMETAAL: 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.
VANOMETAAL
Largest movements
- Receivables within one year +€1.9m
up €1.9m (+1372.6%), from €140,567 to €2.1m
of which Other amounts receivable: +€2.0m
- Stocks and contracts -€1.2m
down €1.2m (-66.9%), from €1.8m to €585,874
- Tangible fixed assets -€490,182
down €490,182 (-97.0%), from €505,480 to €15,299
of which Land and buildings: -€405,391
- Other debts -€1.3m
down €1.3m (-100.0%), from €1.3m to €0
- Profit (loss) carried forward +€1.0m
up €1.0m, from -€1.0m to €0
- Trade debts +€431,016
up €431,016 (+522.9%), from €82,423 to €513,439
- Reserves +€77,064
up €77,064 (+5.7%), from €1.4m to €1.4m
of which Distributable reserves: +€77,064
- Gross operating margin +€2.3m
up €2.3m (+629.6%), from €364,663 to €2.7m
- Write-downs +€1.2m
new in 2025: €1.2m
- Staff costs -€81,291
down €81,291 (-20.8%), from €390,668 to €309,377
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 | €2,445,862 | €2,685,013 | +€239,151 | +9.8% |
| Fixed assets | 21/28 | €505,480 | €15,299 | -€490,182 | -97.0% |
| Tangible fixed assets | 22/27 | €505,480 | €15,299 | -€490,182 | -97.0% |
| Land and buildings | 22 | €405,391 | €0 | -€405,391 | -100.0% |
| Plant, machinery and equipment | 23 | €90,012 | €15,299 | -€74,714 | -83.0% |
| Furniture and vehicles | 24 | €10,077 | €0 | -€10,077 | -100.0% |
| Current assets | 29/58 | €1,940,381 | €2,669,715 | +€729,333 | +37.6% |
| Stocks and contracts in progress | 3 | €1,770,868 | €585,874 | -€1.2m | -66.9% |
| Stocks | 30/36 | €1,770,868 | €585,874 | -€1.2m | -66.9% |
| Amounts receivable within one year | 40/41 | €140,567 | €2,069,946 | +€1.9m | +1372.6% |
| Trade receivables | 40 | €140,567 | €43,904 | -€96,663 | -68.8% |
| Other amounts receivable | 41 | - | €2,026,042 | +€2.0m | |
| Cash at bank and in hand | 54/58 | €15,134 | €8,597 | -€6,537 | -43.2% |
| Deferred charges and accrued income | 490/1 | €13,813 | €5,298 | -€8,515 | -61.6% |
| Total equity and liabilities | 10/49 | €2,445,862 | €2,685,013 | +€239,151 | +9.8% |
| Equity | 10/15 | €413,744 | €1,503,145 | +€1.1m | +263.3% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €1,363,581 | €1,440,645 | +€77,064 | +5.7% |
| Non-distributable reserves | 130/1 | €6,250 | €6,250 | = | 0.0% |
| Legal reserve | 130 | €6,250 | €6,250 | = | 0.0% |
| Tax-exempt reserves | 132 | €32,250 | €32,250 | = | 0.0% |
| Distributable reserves | 133 | €1,325,081 | €1,402,145 | +€77,064 | +5.8% |
| Profit (loss) carried forward | 14 | -€1,012,337 | €0 | +€1.0m | |
| Amounts payable | 17/49 | €2,032,118 | €1,181,869 | -€850,250 | -41.8% |
| Amounts payable after more than one year | 17 | €423,788 | €423,788 | = | 0.0% |
| Financial debts | 170/4 | €423,788 | - | -€423,788 | |
| Other amounts payable | 178/9 | - | €423,788 | +€423,788 | |
| Amounts payable within one year | 42/48 | €1,608,330 | €758,081 | -€850,250 | -52.9% |
| Current portion of amounts payable after more than one year | 42 | €200,000 | €200,000 | = | 0.0% |
| Trade debts | 44 | €82,423 | €513,439 | +€431,016 | +522.9% |
| Suppliers | 440/4 | €82,423 | €513,439 | +€431,016 | +522.9% |
| Taxes, remuneration and social security | 45 | €38,637 | €44,642 | +€6,005 | +15.5% |
| Taxes | 450/3 | €11,137 | €23,222 | +€12,085 | +108.5% |
| Remuneration and social security | 454/9 | €27,500 | €21,420 | -€6,080 | -22.1% |
| Other amounts payable | 47/48 | €1,287,270 | €0 | -€1.3m | -100.0% |
| Non-recurring operating income | 76A | €466,809 | €3,018,500 | +€2.6m | +546.6% |
| Remuneration, social security and pensions | 62 | €390,668 | €309,377 | -€81,291 | -20.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,432 | €8,681 | -€18,751 | -68.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,184,994 | +€1.2m | |
| Other operating charges | 640/8 | €31,932 | €32,304 | +€372 | +1.2% |
| Gross operating margin | 9900 | €364,663 | €2,660,473 | +€2.3m | +629.6% |
| Operating profit (loss) | 9901 | -€85,368 | €1,125,117 | +€1.2m | |
| Financial income | 75/76B | €5,607 | €237 | -€5,370 | -95.8% |
| Recurring financial income | 75 | €5,607 | €237 | -€5,370 | -95.8% |
| Financial charges | 65/66B | €11,364 | €12,669 | +€1,305 | +11.5% |
| Recurring financial charges | 65 | €11,364 | €12,669 | +€1,305 | +11.5% |
| Profit (loss) for the period before taxes | 9903 | -€91,126 | €1,112,685 | +€1.2m | |
| Income taxes | 67/77 | - | €23,284 | +€23,284 | |
| Profit (loss) for the period | 9904 | -€91,126 | €1,089,401 | +€1.2m | |
| Profit (loss) for the period to be appropriated | 9905 | -€91,126 | €1,089,401 | +€1.2m |
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 1 October 2026 via checked.be.