VANREY: 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.
VANREY
Largest movements
- Cash +€19,159
up €19,159 (+91.0%), from €21,063 to €40,222
mainly Net result for the year (+€20,861) and Depreciation (+€9,732)
- Tangible fixed assets -€9,732
down €9,732 (-15.1%), from €64,338 to €54,605
of which Land and buildings: -€7,320
- Reserves +€20,861
up €20,861 (+27.5%), from €75,880 to €96,740
- Debts after one year -€12,724
down €12,724 (-25.8%), from €49,390 to €36,666
- Gross operating margin -€2,545
down €2,545 (-5.6%), from €45,245 to €42,699
- Taxes +€2,500
up €2,500 (+45.5%), from €5,500 to €8,000
- Financial charges -€574
down €574 (-22.3%), from €2,579 to €2,005
- Depreciation -€458
down €458 (-4.5%), from €10,190 to €9,732
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 | €151,898 | €161,734 | +€9,836 | +6.5% |
| Fixed assets | 21/28 | €64,338 | €54,605 | -€9,732 | -15.1% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €64,338 | €54,605 | -€9,732 | -15.1% |
| Land and buildings | 22 | €58,558 | €51,238 | -€7,320 | -12.5% |
| Plant, machinery and equipment | 23 | €3,579 | €1,900 | -€1,679 | -46.9% |
| Furniture and vehicles | 24 | €2,200 | €1,467 | -€734 | -33.3% |
| Current assets | 29/58 | €87,560 | €107,128 | +€19,568 | +22.3% |
| Stocks and contracts in progress | 3 | €2,133 | €1,974 | -€159 | -7.5% |
| Stocks | 30/36 | €2,133 | €1,974 | -€159 | -7.5% |
| Amounts receivable within one year | 40/41 | €64,197 | €64,759 | +€562 | +0.9% |
| Trade receivables | 40 | €791 | €791 | -€0 | 0.0% |
| Other amounts receivable | 41 | €63,406 | €63,968 | +€562 | +0.9% |
| Cash at bank and in hand | 54/58 | €21,063 | €40,222 | +€19,159 | +91.0% |
| Deferred charges and accrued income | 490/1 | €167 | €173 | +€6 | +3.5% |
| Total equity and liabilities | 10/49 | €151,898 | €161,734 | +€9,836 | +6.5% |
| Equity | 10/15 | €82,080 | €102,940 | +€20,861 | +25.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €75,880 | €96,740 | +€20,861 | +27.5% |
| Distributable reserves | 133 | €75,880 | €96,740 | +€20,861 | +27.5% |
| Amounts payable | 17/49 | €69,818 | €58,794 | -€11,025 | -15.8% |
| Amounts payable after more than one year | 17 | €49,390 | €36,666 | -€12,724 | -25.8% |
| Financial debts | 170/4 | €49,390 | €36,666 | -€12,724 | -25.8% |
| Amounts payable within one year | 42/48 | €20,429 | €22,128 | +€1,699 | +8.3% |
| Current portion of amounts payable after more than one year | 42 | €12,411 | €12,724 | +€313 | +2.5% |
| Trade debts | 44 | €2,771 | €3,578 | +€807 | +29.1% |
| Suppliers | 440/4 | €2,771 | €3,578 | +€807 | +29.1% |
| Taxes, remuneration and social security | 45 | €678 | €678 | = | 0.0% |
| Taxes | 450/3 | €678 | €678 | = | 0.0% |
| Other amounts payable | 47/48 | €4,569 | €5,148 | +€580 | +12.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,190 | €9,732 | -€458 | -4.5% |
| Other operating charges | 640/8 | €2,183 | €2,224 | +€40 | +1.8% |
| Gross operating margin | 9900 | €45,245 | €42,699 | -€2,545 | -5.6% |
| Operating profit (loss) | 9901 | €32,872 | €30,744 | -€2,128 | -6.5% |
| Financial income | 75/76B | €0 | €122 | +€122 | +202,567% |
| Recurring financial income | 75 | €0 | €122 | +€122 | +202,567% |
| Financial charges | 65/66B | €2,579 | €2,005 | -€574 | -22.3% |
| Recurring financial charges | 65 | €2,579 | €2,005 | -€574 | -22.3% |
| Profit (loss) for the period before taxes | 9903 | €30,293 | €28,861 | -€1,432 | -4.7% |
| Income taxes | 67/77 | €5,500 | €8,000 | +€2,500 | +45.5% |
| Profit (loss) for the period | 9904 | €24,793 | €20,861 | -€3,932 | -15.9% |
| Profit (loss) for the period to be appropriated | 9905 | €24,793 | €20,861 | -€3,932 | -15.9% |
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 15 October 2026 via checked.be.