VANOVO: 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.
VANOVO
Largest movements
- Cash +€3,784
up €3,784 (+199%), from €1,904 to €5,688
mainly Net result for the year (+€5,103) and Tax, wage and social debts (+€3,066)
- Tangible fixed assets +€1,521
new in 2025: €1,521
- Profit (loss) carried forward +€5,103
up €5,103 (+80.1%), from -€6,369 to -€1,266
- Tax, wage and social debts +€3,066
up €3,066 (+94.8%), from €3,234 to €6,300
of which Remuneration and social security: +€1,714
- Trade debts -€1,963
down €1,963 (-63.3%), from €3,101 to €1,138
- Other debts -€967
down €967 (-46.6%), from €2,075 to €1,108
- Staff costs -€4,021
down €4,021 (-32.0%), from €12,551 to €8,530
- Gross operating margin +€3,521
up €3,521 (+27.5%), from €12,808 to €16,329
- Financial charges +€880
up €880 (+575%), from €153 to €1,033
- Other operating charges -€331
down €331 (-16.8%), from €1,968 to €1,637
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 | €6,041 | €11,280 | +€5,239 | +86.7% |
| Fixed assets | 21/28 | €205 | €1,726 | +€1,521 | +742% |
| Tangible fixed assets | 22/27 | - | €1,521 | +€1,521 | |
| Plant, machinery and equipment | 23 | - | €1,521 | +€1,521 | |
| Financial fixed assets | 28 | €205 | €205 | = | 0.0% |
| Current assets | 29/58 | €5,836 | €9,554 | +€3,718 | +63.7% |
| Stocks and contracts in progress | 3 | €3,598 | €3,527 | -€71 | -2.0% |
| Stocks | 30/36 | €3,598 | €3,527 | -€71 | -2.0% |
| Amounts receivable within one year | 40/41 | €334 | €339 | +€5 | +1.5% |
| Other amounts receivable | 41 | €334 | €339 | +€5 | +1.5% |
| Cash at bank and in hand | 54/58 | €1,904 | €5,688 | +€3,784 | +199% |
| Total equity and liabilities | 10/49 | €6,041 | €11,280 | +€5,239 | +86.7% |
| Equity | 10/15 | -€2,369 | €2,734 | +€5,103 | |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,369 | -€1,266 | +€5,103 | +80.1% |
| Amounts payable | 17/49 | €8,410 | €8,546 | +€136 | +1.6% |
| Amounts payable within one year | 42/48 | €8,410 | €8,546 | +€136 | +1.6% |
| Trade debts | 44 | €3,101 | €1,138 | -€1,963 | -63.3% |
| Suppliers | 440/4 | €3,101 | €1,138 | -€1,963 | -63.3% |
| Taxes, remuneration and social security | 45 | €3,234 | €6,300 | +€3,066 | +94.8% |
| Taxes | 450/3 | €385 | €1,737 | +€1,352 | +351% |
| Remuneration and social security | 454/9 | €2,849 | €4,563 | +€1,714 | +60.2% |
| Other amounts payable | 47/48 | €2,075 | €1,108 | -€967 | -46.6% |
| Remuneration, social security and pensions | 62 | €12,551 | €8,530 | -€4,021 | -32.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €26 | +€26 | |
| Other operating charges | 640/8 | €1,968 | €1,637 | -€331 | -16.8% |
| Gross operating margin | 9900 | €12,808 | €16,329 | +€3,521 | +27.5% |
| Operating profit (loss) | 9901 | -€1,711 | €6,136 | +€7,847 | |
| Financial charges | 65/66B | €153 | €1,033 | +€880 | +575% |
| Recurring financial charges | 65 | €153 | €1,033 | +€880 | +575% |
| Profit (loss) for the period before taxes | 9903 | -€1,864 | €5,103 | +€6,967 | |
| Profit (loss) for the period | 9904 | -€1,864 | €5,103 | +€6,967 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,864 | €5,103 | +€6,967 |
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.