Vanste: 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.
Vanste
Largest movements
- Cash -€274,528
down €274,528 (-82.0%), from €334,918 to €60,390
mainly Debts after one year (-€510,364) and Other debts (-€68,535)
- Tangible fixed assets -€66,621
down €66,621 (-2.9%), from €2.3m to €2.2m
of which Furniture and vehicles: -€41,301
- Debts after one year -€510,364
down €510,364 (-69.4%), from €735,364 to €225,000
- Reserves +€217,398
up €217,398 (+12.1%), from €1.8m to €2.0m
- Other debts -€68,535
down €68,535 (-10.0%), from €688,786 to €620,250
- Current portion of long-term debt +€39,613
up €39,613 (+40.5%), from €97,887 to €137,500
- Financial income +€166,486
up €166,486 (+1713.7%), from €9,715 to €176,201
- Other operating charges +€33,617
up €33,617 (+308.7%), from €10,890 to €44,507
- Financial charges -€17,478
down €17,478 (-20.5%), from €85,418 to €67,940
- Gross operating margin -€12,265
down €12,265 (-4.5%), from €275,166 to €262,901
- Taxes +€8,368
up €8,368 (+25.8%), from €32,476 to €40,843
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,425,644 | €3,091,126 | -€334,518 | -9.8% |
| Fixed assets | 21/28 | €2,807,941 | €2,731,419 | -€76,521 | -2.7% |
| Tangible fixed assets | 22/27 | €2,314,566 | €2,247,944 | -€66,621 | -2.9% |
| Land and buildings | 22 | €2,273,264 | €2,247,944 | -€25,320 | -1.1% |
| Furniture and vehicles | 24 | €41,301 | - | -€41,301 | |
| Financial fixed assets | 28 | €493,375 | €483,475 | -€9,900 | -2.0% |
| Current assets | 29/58 | €617,704 | €359,707 | -€257,997 | -41.8% |
| Amounts receivable after more than one year | 29 | €111,550 | €87,500 | -€24,050 | -21.6% |
| Other amounts receivable | 291 | €111,550 | €87,500 | -€24,050 | -21.6% |
| Amounts receivable within one year | 40/41 | €85,610 | €95,950 | +€10,340 | +12.1% |
| Trade receivables | 40 | €85,610 | €95,950 | +€10,340 | +12.1% |
| Cash at bank and in hand | 54/58 | €334,918 | €60,390 | -€274,528 | -82.0% |
| Deferred charges and accrued income | 490/1 | €85,626 | €115,867 | +€30,241 | +35.3% |
| Total equity and liabilities | 10/49 | €3,425,644 | €3,091,126 | -€334,518 | -9.8% |
| Equity | 10/15 | €1,866,963 | €2,084,362 | +€217,398 | +11.6% |
| Contributions | 10/11 | €63,500 | €63,500 | = | 0.0% |
| Reserves | 13 | €1,803,463 | €2,020,862 | +€217,398 | +12.1% |
| Distributable reserves | 133 | €1,803,463 | €2,020,862 | +€217,398 | +12.1% |
| Amounts payable | 17/49 | €1,558,681 | €1,006,764 | -€551,917 | -35.4% |
| Amounts payable after more than one year | 17 | €735,364 | €225,000 | -€510,364 | -69.4% |
| Financial debts | 170/4 | €735,364 | €225,000 | -€510,364 | -69.4% |
| Amounts payable within one year | 42/48 | €823,316 | €781,764 | -€41,553 | -5.0% |
| Current portion of amounts payable after more than one year | 42 | €97,887 | €137,500 | +€39,613 | +40.5% |
| Trade debts | 44 | €2,927 | €3,862 | +€935 | +32.0% |
| Suppliers | 440/4 | €2,927 | €3,862 | +€935 | +32.0% |
| Taxes, remuneration and social security | 45 | €33,717 | €20,152 | -€13,565 | -40.2% |
| Taxes | 450/3 | €33,717 | €20,152 | -€13,565 | -40.2% |
| Other amounts payable | 47/48 | €688,786 | €620,250 | -€68,535 | -10.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,030 | €68,413 | -€3,617 | -5.0% |
| Other operating charges | 640/8 | €10,890 | €44,507 | +€33,617 | +308.7% |
| Gross operating margin | 9900 | €275,166 | €262,901 | -€12,265 | -4.5% |
| Operating profit (loss) | 9901 | €192,246 | €149,981 | -€42,266 | -22.0% |
| Financial income | 75/76B | €9,715 | €176,201 | +€166,486 | +1713.7% |
| Recurring financial income | 75 | €9,715 | €176,201 | +€166,486 | +1713.7% |
| Financial charges | 65/66B | €85,418 | €67,940 | -€17,478 | -20.5% |
| Recurring financial charges | 65 | €85,418 | €67,940 | -€17,478 | -20.5% |
| Profit (loss) for the period before taxes | 9903 | €116,543 | €258,242 | +€141,699 | +121.6% |
| Income taxes | 67/77 | €32,476 | €40,843 | +€8,368 | +25.8% |
| Profit (loss) for the period | 9904 | €84,067 | €217,398 | +€133,331 | +158.6% |
| Profit (loss) for the period to be appropriated | 9905 | €84,067 | €217,398 | +€133,331 | +158.6% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.