VANQUAETHEM Tom: 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.
VANQUAETHEM Tom
Largest movements
- Receivables within one year +€41,692
up €41,692 (+46.5%), from €89,597 to €131,290
of which Trade receivables: +€67,948
- Cash +€15,733
new in 2025: €15,733
mainly Trade debts (+€47,982) and Net result for the year (+€19,037)
- Current investments -€11,209
down €11,209 (-100%), from €11,209 to €0
- Tangible fixed assets -€10,848
down €10,848 (-61.1%), from €17,752 to €6,904
of which Furniture and vehicles: -€10,288
- Deferred charges and accrued income -€2,027
down €2,027 (-28.7%), from €7,057 to €5,030
- Trade debts +€47,982
up €47,982 (+416%), from €11,539 to €59,520
- Other debts -€14,211
down €14,211 (-55.9%), from €25,425 to €11,214
- Tax, wage and social debts +€8,229
up €8,229 (+171%), from €4,805 to €13,033
- Accrued charges and deferred income -€7,900
down €7,900 (-100%), from €7,900 to €0
- Reserves +€7,823
up €7,823 (+17.4%), from €44,911 to €52,734
- Gross operating margin -€11,852
down €11,852 (-24.1%), from €49,278 to €37,426
- Depreciation -€5,628
down €5,628 (-34.2%), from €16,476 to €10,848
- Taxes -€1,368
down €1,368 (-13.0%), from €10,525 to €9,157
- Financial income -€1,133
down €1,133 (-21.5%), from €5,262 to €4,129
- Other operating charges -€622
down €622 (-30.6%), from €2,033 to €1,411
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 | €125,983 | €159,511 | +€33,528 | +26.6% |
| Fixed assets | 21/28 | €17,752 | €6,904 | -€10,848 | -61.1% |
| Tangible fixed assets | 22/27 | €17,752 | €6,904 | -€10,848 | -61.1% |
| Plant, machinery and equipment | 23 | €3,086 | €2,526 | -€560 | -18.1% |
| Furniture and vehicles | 24 | €14,666 | €4,378 | -€10,288 | -70.1% |
| Current assets | 29/58 | €108,231 | €152,607 | +€44,376 | +41.0% |
| Stocks and contracts in progress | 3 | €368 | €554 | +€187 | +50.8% |
| Stocks | 30/36 | €368 | €554 | +€187 | +50.8% |
| Amounts receivable within one year | 40/41 | €89,597 | €131,290 | +€41,692 | +46.5% |
| Trade receivables | 40 | €4,128 | €72,076 | +€67,948 | +1,646% |
| Other amounts receivable | 41 | €85,469 | €59,214 | -€26,255 | -30.7% |
| Current investments | 50/53 | €11,209 | €0 | -€11,209 | -100% |
| Cash at bank and in hand | 54/58 | - | €15,733 | +€15,733 | |
| Deferred charges and accrued income | 490/1 | €7,057 | €5,030 | -€2,027 | -28.7% |
| Total equity and liabilities | 10/49 | €125,983 | €159,511 | +€33,528 | +26.6% |
| Equity | 10/15 | €59,911 | €67,734 | +€7,823 | +13.1% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €44,911 | €52,734 | +€7,823 | +17.4% |
| Distributable reserves | 133 | €44,911 | €52,734 | +€7,823 | +17.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €66,072 | €91,777 | +€25,705 | +38.9% |
| Amounts payable after more than one year | 17 | €2,544 | €0 | -€2,544 | -100% |
| Financial debts | 170/4 | €2,544 | €0 | -€2,544 | -100% |
| Amounts payable within one year | 42/48 | €55,628 | €91,777 | +€36,149 | +65.0% |
| Current portion of amounts payable after more than one year | 42 | €13,860 | €6,315 | -€7,545 | -54.4% |
| Financial debts | 43 | - | €1,695 | +€1,695 | |
| Credit institutions | 430/8 | - | €1,695 | +€1,695 | |
| Trade debts | 44 | €11,539 | €59,520 | +€47,982 | +416% |
| Suppliers | 440/4 | €11,539 | €59,520 | +€47,982 | +416% |
| Taxes, remuneration and social security | 45 | €4,805 | €13,033 | +€8,229 | +171% |
| Taxes | 450/3 | €4,805 | €13,033 | +€8,229 | +171% |
| Other amounts payable | 47/48 | €25,425 | €11,214 | -€14,211 | -55.9% |
| Accrued charges and deferred income | 492/3 | €7,900 | €0 | -€7,900 | -100% |
| Remuneration, social security and pensions | 62 | €223 | €0 | -€223 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,476 | €10,848 | -€5,628 | -34.2% |
| Other operating charges | 640/8 | €2,033 | €1,411 | -€622 | -30.6% |
| Gross operating margin | 9900 | €49,278 | €37,426 | -€11,852 | -24.1% |
| Operating profit (loss) | 9901 | €30,546 | €25,167 | -€5,378 | -17.6% |
| Financial income | 75/76B | €5,262 | €4,129 | -€1,133 | -21.5% |
| Recurring financial income | 75 | €5,262 | €4,129 | -€1,133 | -21.5% |
| Financial charges | 65/66B | €1,651 | €1,102 | -€549 | -33.3% |
| Recurring financial charges | 65 | €1,651 | €1,102 | -€549 | -33.3% |
| Profit (loss) for the period before taxes | 9903 | €34,157 | €28,194 | -€5,963 | -17.5% |
| Income taxes | 67/77 | €10,525 | €9,157 | -€1,368 | -13.0% |
| Profit (loss) for the period | 9904 | €23,631 | €19,037 | -€4,594 | -19.4% |
| Profit (loss) for the period to be appropriated | 9905 | €23,631 | €19,037 | -€4,594 | -19.4% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.