VANSICHEN: 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.
VANSICHEN
Largest movements
- Cash +€221,790
up €221,790 (+80.7%), from €274,693 to €496,483
mainly Depreciation (+€223,588) and Other debts (+€176,706)
- Tangible fixed assets -€203,919
down €203,919 (-5.7%), from €3.6m to €3.4m
of which Land and buildings: -€123,280
- Receivables within one year -€44,264
down €44,264 (-57.5%), from €76,977 to €32,713
of which Trade receivables: -€28,601
- Reserves -€226,908
down €226,908 (-13.3%), from €1.7m to €1.5m
of which Tax-exempt reserves: -€218,128
- Profit (loss) carried forward +€181,225
up €181,225 (+18.5%), from €977,660 to €1.2m
- Other debts +€176,706
up €176,706 (+559%), from €31,610 to €208,316
- Debts after one year -€116,269
down €116,269 (-9.0%), from €1.3m to €1.2m
- Gross operating margin -€255,990
down €255,990 (-29.5%), from €868,263 to €612,274
- Staff costs -€43,656
down €43,656 (-24.1%), from €181,304 to €137,648
- Taxes -€28,984
down €28,984 (-30.9%), from €93,950 to €64,966
- Financial charges -€25,994
down €25,994 (-50.7%), from €51,291 to €25,297
- Depreciation +€18,855
up €18,855 (+9.2%), from €204,733 to €223,588
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 | €4,251,998 | €4,226,604 | -€25,395 | -0.6% |
| Fixed assets | 21/28 | €3,894,750 | €3,690,831 | -€203,919 | -5.2% |
| Tangible fixed assets | 22/27 | €3,592,211 | €3,388,292 | -€203,919 | -5.7% |
| Land and buildings | 22 | €3,272,920 | €3,149,640 | -€123,280 | -3.8% |
| Plant, machinery and equipment | 23 | €2,167 | €0 | -€2,167 | -100% |
| Furniture and vehicles | 24 | €317,124 | €238,652 | -€78,472 | -24.7% |
| Financial fixed assets | 28 | €302,539 | €302,539 | = | 0.0% |
| Current assets | 29/58 | €357,248 | €535,772 | +€178,524 | +50.0% |
| Amounts receivable within one year | 40/41 | €76,977 | €32,713 | -€44,264 | -57.5% |
| Trade receivables | 40 | €59,714 | €31,113 | -€28,601 | -47.9% |
| Other amounts receivable | 41 | €17,263 | €1,600 | -€15,663 | -90.7% |
| Cash at bank and in hand | 54/58 | €274,693 | €496,483 | +€221,790 | +80.7% |
| Deferred charges and accrued income | 490/1 | €5,578 | €6,576 | +€997 | +17.9% |
| Total equity and liabilities | 10/49 | €4,251,998 | €4,226,604 | -€25,395 | -0.6% |
| Equity | 10/15 | €2,699,286 | €2,653,604 | -€45,682 | -1.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,703,026 | €1,476,118 | -€226,908 | -13.3% |
| Tax-exempt reserves | 132 | €792,354 | €574,226 | -€218,128 | -27.5% |
| Distributable reserves | 133 | €910,672 | €901,892 | -€8,780 | -1.0% |
| Profit (loss) carried forward | 14 | €977,660 | €1,158,885 | +€181,225 | +18.5% |
| Provisions and deferred taxes | 16 | €46,601 | €44,059 | -€2,543 | -5.5% |
| Deferred taxes | 168 | €46,601 | €44,059 | -€2,543 | -5.5% |
| Amounts payable | 17/49 | €1,506,111 | €1,528,941 | +€22,830 | +1.5% |
| Amounts payable after more than one year | 17 | €1,296,798 | €1,180,529 | -€116,269 | -9.0% |
| Financial debts | 170/4 | €1,296,798 | €1,180,529 | -€116,269 | -9.0% |
| Amounts payable within one year | 42/48 | €206,187 | €345,277 | +€139,090 | +67.5% |
| Current portion of amounts payable after more than one year | 42 | €122,126 | €116,269 | -€5,857 | -4.8% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €18,707 | €4,814 | -€13,893 | -74.3% |
| Suppliers | 440/4 | €18,707 | €4,814 | -€13,893 | -74.3% |
| Taxes, remuneration and social security | 45 | €33,744 | €15,878 | -€17,866 | -52.9% |
| Taxes | 450/3 | €3,161 | €10,964 | +€7,803 | +247% |
| Remuneration and social security | 454/9 | €30,584 | €4,914 | -€25,669 | -83.9% |
| Other amounts payable | 47/48 | €31,610 | €208,316 | +€176,706 | +559% |
| Accrued charges and deferred income | 492/3 | €3,126 | €3,135 | +€9 | +0.3% |
| Non-recurring operating income | 76A | €145,470 | €0 | -€145,470 | -100% |
| Remuneration, social security and pensions | 62 | €181,304 | €137,648 | -€43,656 | -24.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €204,733 | €223,588 | +€18,855 | +9.2% |
| Other operating charges | 640/8 | €1,176 | €1,291 | +€115 | +9.8% |
| Gross operating margin | 9900 | €868,263 | €612,274 | -€255,990 | -29.5% |
| Operating profit (loss) | 9901 | €481,050 | €249,747 | -€231,303 | -48.1% |
| Financial income | 75/76B | €5,217 | €11,570 | +€6,353 | +122% |
| Recurring financial income | 75 | €5,217 | €11,570 | +€6,353 | +122% |
| Financial charges | 65/66B | €51,291 | €25,297 | -€25,994 | -50.7% |
| Recurring financial charges | 65 | €51,291 | €25,297 | -€25,994 | -50.7% |
| Profit (loss) for the period before taxes | 9903 | €434,976 | €236,021 | -€198,956 | -45.7% |
| Transfer from deferred taxes | 780 | €3,212 | €2,543 | -€670 | -20.8% |
| Transfer to deferred taxes | 680 | €32,295 | €0 | -€32,295 | -100% |
| Income taxes | 67/77 | €93,950 | €64,966 | -€28,984 | -30.9% |
| Profit (loss) for the period | 9904 | €311,944 | €173,598 | -€138,346 | -44.3% |
| Transfer from tax-exempt reserves | 789 | €65,326 | €218,128 | +€152,802 | +234% |
| Transfer to tax-exempt reserves | 689 | €223,185 | €0 | -€223,185 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €154,084 | €391,725 | +€237,642 | +154% |
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 19 October 2026 via checked.be.