VANQUELEFF RONALD: 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.
VANQUELEFF RONALD
Largest movements
- Cash +€4,242
up €4,242 (+10.1%), from €41,893 to €46,135
mainly Net result for the year (+€7,507) and Depreciation (+€1,503)
- Receivables within one year +€3,503
up €3,503 (+19.7%), from €17,810 to €21,313
of which Trade receivables: +€2,466
- Reserves +€7,507
up €7,507 (+26.5%), from €28,316 to €35,823
of which Distributable reserves: +€7,507
- Tax, wage and social debts -€853
down €853 (-73.1%), from €1,167 to €314
- Gross operating margin -€3,653
down €3,653 (-15.9%), from €22,967 to €19,314
- Staff costs -€2,182
down €2,182 (-52.8%), from €4,136 to €1,954
- Taxes -€423
down €423 (-9.6%), from €4,425 to €4,002
- Other operating charges -€248
down €248 (-7.0%), from €3,570 to €3,322
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 | €70,692 | €78,451 | +€7,759 | +11.0% |
| Fixed assets | 21/28 | €10,988 | €10,932 | -€56 | -0.5% |
| Tangible fixed assets | 22/27 | €10,463 | €10,408 | -€56 | -0.5% |
| Land and buildings | 22 | €9,765 | €8,828 | -€937 | -9.6% |
| Furniture and vehicles | 24 | €698 | €1,580 | +€881 | +126.2% |
| Financial fixed assets | 28 | €525 | €525 | = | 0.0% |
| Current assets | 29/58 | €59,703 | €67,518 | +€7,815 | +13.1% |
| Stocks and contracts in progress | 3 | - | €70 | +€70 | |
| Stocks | 30/36 | - | €70 | +€70 | |
| Amounts receivable within one year | 40/41 | €17,810 | €21,313 | +€3,503 | +19.7% |
| Trade receivables | 40 | €17,216 | €19,681 | +€2,466 | +14.3% |
| Other amounts receivable | 41 | €594 | €1,632 | +€1,038 | +174.7% |
| Cash at bank and in hand | 54/58 | €41,893 | €46,135 | +€4,242 | +10.1% |
| Total equity and liabilities | 10/49 | €70,692 | €78,451 | +€7,759 | +11.0% |
| Equity | 10/15 | €59,594 | €67,101 | +€7,507 | +12.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €28,316 | €35,823 | +€7,507 | +26.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €26,456 | €33,963 | +€7,507 | +28.4% |
| Profit (loss) carried forward | 14 | €12,678 | €12,678 | = | 0.0% |
| Amounts payable | 17/49 | €11,097 | €11,350 | +€252 | +2.3% |
| Amounts payable within one year | 42/48 | €11,097 | €11,350 | +€252 | +2.3% |
| Current portion of amounts payable after more than one year | 42 | €1,158 | €1,151 | -€7 | -0.6% |
| Trade debts | 44 | €7,015 | €7,477 | +€463 | +6.6% |
| Suppliers | 440/4 | €7,015 | €7,477 | +€463 | +6.6% |
| Taxes, remuneration and social security | 45 | €1,167 | €314 | -€853 | -73.1% |
| Taxes | 450/3 | €1,167 | €314 | -€853 | -73.1% |
| Other amounts payable | 47/48 | €1,758 | €2,408 | +€650 | +37.0% |
| Remuneration, social security and pensions | 62 | €4,136 | €1,954 | -€2,182 | -52.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,636 | €1,503 | -€133 | -8.1% |
| Other operating charges | 640/8 | €3,570 | €3,322 | -€248 | -7.0% |
| Non-recurring operating charges | 66A | - | €317 | +€317 | |
| Gross operating margin | 9900 | €22,967 | €19,314 | -€3,653 | -15.9% |
| Operating profit (loss) | 9901 | €13,625 | €12,218 | -€1,407 | -10.3% |
| Financial income | 75/76B | €162 | €111 | -€51 | -31.8% |
| Recurring financial income | 75 | €162 | €111 | -€51 | -31.8% |
| Financial charges | 65/66B | €748 | €820 | +€72 | +9.6% |
| Recurring financial charges | 65 | €679 | €820 | +€141 | +20.7% |
| Non-recurring financial charges | 66B | €69 | - | -€69 | |
| Profit (loss) for the period before taxes | 9903 | €13,039 | €11,509 | -€1,530 | -11.7% |
| Income taxes | 67/77 | €4,425 | €4,002 | -€423 | -9.6% |
| Profit (loss) for the period | 9904 | €8,614 | €7,507 | -€1,107 | -12.9% |
| Profit (loss) for the period to be appropriated | 9905 | €8,614 | €7,507 | -€1,107 | -12.9% |
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 30 September 2026 via checked.be.