VANONCKELEN: 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.
VANONCKELEN
Largest movements
- Cash +€131,557
up €131,557 (+61.9%), from €212,673 to €344,230
mainly Net result for the year (+€114,092) and Stocks and contracts (+€22,153)
- Stocks and contracts -€22,153
down €22,153 (-39.8%), from €55,653 to €33,500
- Receivables within one year -€11,219
down €11,219 (-36.7%), from €30,548 to €19,329
of which Trade receivables: -€15,417
- Reserves +€114,092
up €114,092 (+32.5%), from €351,280 to €465,373
- Trade debts -€15,092
down €15,092 (-37.4%), from €40,353 to €25,261
- Gross operating margin +€41,987
up €41,987 (+11.4%), from €369,593 to €411,580
- Taxes +€22,759
up €22,759 (+64.9%), from €35,044 to €57,803
- Staff costs -€18,872
down €18,872 (-7.7%), from €244,934 to €226,062
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 | €481,409 | €576,161 | +€94,752 | +19.7% |
| Fixed assets | 21/28 | €81,507 | €78,396 | -€3,111 | -3.8% |
| Tangible fixed assets | 22/27 | €81,507 | €78,396 | -€3,111 | -3.8% |
| Land and buildings | 22 | €65,876 | €64,969 | -€907 | -1.4% |
| Plant, machinery and equipment | 23 | €13,566 | €12,616 | -€950 | -7.0% |
| Furniture and vehicles | 24 | €2,065 | €811 | -€1,253 | -60.7% |
| Current assets | 29/58 | €399,903 | €497,765 | +€97,862 | +24.5% |
| Stocks and contracts in progress | 3 | €55,653 | €33,500 | -€22,153 | -39.8% |
| Stocks | 30/36 | €55,653 | €33,500 | -€22,153 | -39.8% |
| Amounts receivable within one year | 40/41 | €30,548 | €19,329 | -€11,219 | -36.7% |
| Trade receivables | 40 | €25,577 | €10,160 | -€15,417 | -60.3% |
| Other amounts receivable | 41 | €4,971 | €9,169 | +€4,198 | +84.4% |
| Current investments | 50/53 | €100,000 | €100,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €212,673 | €344,230 | +€131,557 | +61.9% |
| Deferred charges and accrued income | 490/1 | €1,029 | €705 | -€323 | -31.4% |
| Total equity and liabilities | 10/49 | €481,409 | €576,161 | +€94,752 | +19.7% |
| Equity | 10/15 | €381,280 | €495,373 | +€114,092 | +29.9% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €351,280 | €465,373 | +€114,092 | +32.5% |
| Distributable reserves | 133 | €351,280 | €465,373 | +€114,092 | +32.5% |
| Amounts payable | 17/49 | €100,129 | €80,788 | -€19,341 | -19.3% |
| Amounts payable within one year | 42/48 | €100,129 | €80,788 | -€19,341 | -19.3% |
| Trade debts | 44 | €40,353 | €25,261 | -€15,092 | -37.4% |
| Suppliers | 440/4 | €40,353 | €25,261 | -€15,092 | -37.4% |
| Taxes, remuneration and social security | 45 | €41,933 | €38,120 | -€3,813 | -9.1% |
| Taxes | 450/3 | €15,044 | €11,409 | -€3,635 | -24.2% |
| Remuneration and social security | 454/9 | €26,889 | €26,710 | -€178 | -0.7% |
| Other amounts payable | 47/48 | €17,843 | €17,407 | -€436 | -2.4% |
| Remuneration, social security and pensions | 62 | €244,934 | €226,062 | -€18,872 | -7.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,147 | €10,643 | -€1,504 | -12.4% |
| Other operating charges | 640/8 | €1,952 | €3,718 | +€1,766 | +90.4% |
| Gross operating margin | 9900 | €369,593 | €411,580 | +€41,987 | +11.4% |
| Operating profit (loss) | 9901 | €110,561 | €171,157 | +€60,597 | +54.8% |
| Financial income | 75/76B | €285 | €1,689 | +€1,405 | +493.2% |
| Recurring financial income | 75 | €285 | €1,689 | +€1,405 | +493.2% |
| Financial charges | 65/66B | €2,065 | €952 | -€1,113 | -53.9% |
| Recurring financial charges | 65 | €2,065 | €952 | -€1,113 | -53.9% |
| Profit (loss) for the period before taxes | 9903 | €108,780 | €171,895 | +€63,115 | +58.0% |
| Income taxes | 67/77 | €35,044 | €57,803 | +€22,759 | +64.9% |
| Profit (loss) for the period | 9904 | €73,736 | €114,092 | +€40,356 | +54.7% |
| Profit (loss) for the period to be appropriated | 9905 | €73,736 | €114,092 | +€40,356 | +54.7% |
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 12 October 2026 via checked.be.