VANRO CNC: 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.
VANRO CNC
Largest movements
- Tangible fixed assets +€413,026
up €413,026 (+43.0%), from €960,332 to €1.4m
of which Leasing and similar rights: +€304,709
- Current investments +€150,000
up €150,000 (+42.9%), from €350,000 to €500,000
- Cash -€70,334
down €70,334 (-14.8%), from €476,048 to €405,714
mainly Investment in fixed assets (net) (-€635,148) and Current investments (-€150,000)
- Receivables within one year -€40,372
down €40,372 (-9.5%), from €423,184 to €382,812
of which Trade receivables: -€53,148
- Debts after one year +€171,675
up €171,675 (+28.1%), from €611,285 to €782,959
- Reserves +€159,816
up €159,816 (+13.8%), from €1.2m to €1.3m
of which Distributable reserves: +€159,816
- Current portion of long-term debt +€79,271
up €79,271 (+60.9%), from €130,154 to €209,425
- Other debts +€51,549
up €51,549 (+38.2%), from €134,828 to €186,378
- Gross operating margin -€64,877
down €64,877 (-6.7%), from €963,731 to €898,854
- Staff costs -€64,301
down €64,301 (-21.1%), from €304,479 to €240,178
- Depreciation +€33,047
up €33,047 (+17.5%), from €189,074 to €222,121
- Taxes -€15,949
down €15,949 (-11.4%), from €140,503 to €124,554
- Financial income +€14,803
up €14,803 (+1699.2%), from €871 to €15,674
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 | €2,234,540 | €2,703,219 | +€468,679 | +21.0% |
| Fixed assets | 21/28 | €960,332 | €1,373,359 | +€413,026 | +43.0% |
| Tangible fixed assets | 22/27 | €960,332 | €1,373,359 | +€413,026 | +43.0% |
| Land and buildings | 22 | €559,229 | €537,371 | -€21,858 | -3.9% |
| Plant, machinery and equipment | 23 | €49,348 | €145,814 | +€96,467 | +195.5% |
| Furniture and vehicles | 24 | €87,405 | €121,114 | +€33,709 | +38.6% |
| Leasing and similar rights | 25 | €264,350 | €569,059 | +€304,709 | +115.3% |
| Current assets | 29/58 | €1,274,208 | €1,329,860 | +€55,653 | +4.4% |
| Stocks and contracts in progress | 3 | €13,400 | €27,979 | +€14,579 | +108.8% |
| Stocks | 30/36 | €13,400 | €17,310 | +€3,910 | +29.2% |
| Contracts in progress | 37 | €0 | €10,669 | +€10,669 | |
| Amounts receivable within one year | 40/41 | €423,184 | €382,812 | -€40,372 | -9.5% |
| Trade receivables | 40 | €423,184 | €370,037 | -€53,148 | -12.6% |
| Other amounts receivable | 41 | €0 | €12,775 | +€12,775 | |
| Current investments | 50/53 | €350,000 | €500,000 | +€150,000 | +42.9% |
| Cash at bank and in hand | 54/58 | €476,048 | €405,714 | -€70,334 | -14.8% |
| Deferred charges and accrued income | 490/1 | €11,575 | €13,355 | +€1,780 | +15.4% |
| Total equity and liabilities | 10/49 | €2,234,540 | €2,703,219 | +€468,679 | +21.0% |
| Equity | 10/15 | €1,179,674 | €1,339,490 | +€159,816 | +13.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €1,159,674 | €1,319,490 | +€159,816 | +13.8% |
| Non-distributable reserves | 130/1 | €959 | €959 | = | 0.0% |
| Reserves not available under the articles | 1311 | €959 | €959 | = | 0.0% |
| Distributable reserves | 133 | €1,158,715 | €1,318,531 | +€159,816 | +13.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,054,865 | €1,363,729 | +€308,864 | +29.3% |
| Amounts payable after more than one year | 17 | €611,285 | €782,959 | +€171,675 | +28.1% |
| Financial debts | 170/4 | €611,285 | €782,959 | +€171,675 | +28.1% |
| Amounts payable within one year | 42/48 | €443,481 | €580,670 | +€137,189 | +30.9% |
| Current portion of amounts payable after more than one year | 42 | €130,154 | €209,425 | +€79,271 | +60.9% |
| Trade debts | 44 | €110,326 | €132,967 | +€22,642 | +20.5% |
| Suppliers | 440/4 | €110,326 | €132,967 | +€22,642 | +20.5% |
| Taxes, remuneration and social security | 45 | €68,172 | €51,899 | -€16,273 | -23.9% |
| Taxes | 450/3 | €46,377 | €34,894 | -€11,483 | -24.8% |
| Remuneration and social security | 454/9 | €21,795 | €17,005 | -€4,790 | -22.0% |
| Other amounts payable | 47/48 | €134,828 | €186,378 | +€51,549 | +38.2% |
| Accrued charges and deferred income | 492/3 | €100 | €100 | = | 0.0% |
| Non-recurring operating income | 76A | - | €14,634 | +€14,634 | |
| Remuneration, social security and pensions | 62 | €304,479 | €240,178 | -€64,301 | -21.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €189,074 | €222,121 | +€33,047 | +17.5% |
| Other operating charges | 640/8 | €8,597 | €7,956 | -€642 | -7.5% |
| Gross operating margin | 9900 | €963,731 | €898,854 | -€64,877 | -6.7% |
| Operating profit (loss) | 9901 | €461,581 | €428,600 | -€32,981 | -7.1% |
| Financial income | 75/76B | €871 | €15,674 | +€14,803 | +1699.2% |
| Recurring financial income | 75 | €871 | €15,674 | +€14,803 | +1699.2% |
| Financial charges | 65/66B | €20,129 | €22,060 | +€1,931 | +9.6% |
| Recurring financial charges | 65 | €20,129 | €22,060 | +€1,931 | +9.6% |
| Profit (loss) for the period before taxes | 9903 | €442,323 | €422,213 | -€20,110 | -4.5% |
| Income taxes | 67/77 | €140,503 | €124,554 | -€15,949 | -11.4% |
| Profit (loss) for the period | 9904 | €301,820 | €297,659 | -€4,160 | -1.4% |
| Profit (loss) for the period to be appropriated | 9905 | €301,820 | €297,659 | -€4,160 | -1.4% |
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 8 October 2026 via checked.be.