VANSTEEN: 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.
VANSTEEN
Largest movements
- Tangible fixed assets -€6,554
down €6,554 (-23.6%), from €27,776 to €21,222
of which Furniture and vehicles: -€7,329
- Cash -€4,276
down €4,276 (-64.5%), from €6,629 to €2,352
mainly Other debts (-€11,927) and Investment in fixed assets (net) (-€7,106)
- Receivables within one year -€2,546
down €2,546 (-7.3%), from €34,699 to €32,152
of which Trade receivables: -€1,779
- Deferred charges and accrued income -€1,989
down €1,989 (-74.3%), from €2,679 to €689
- Other debts -€11,927
down €11,927 (-17.6%), from €67,781 to €55,854
- Debts after one year -€4,566
no longer reported in 2025 (was €4,566)
- Profit (loss) carried forward +€3,678
up €3,678 (+9.9%), from -€37,067 to -€33,389
- Trade debts -€2,624
down €2,624 (-50.4%), from €5,210 to €2,585
- Gross operating margin +€39,901
up €39,901, from -€16,951 to €22,951
- Financial charges +€3,397
up €3,397 (+686.7%), from €495 to €3,892
- Other operating charges -€754
down €754 (-38.6%), from €1,955 to €1,201
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 | €71,903 | €56,536 | -€15,366 | -21.4% |
| Fixed assets | 21/28 | €27,896 | €21,342 | -€6,554 | -23.5% |
| Tangible fixed assets | 22/27 | €27,776 | €21,222 | -€6,554 | -23.6% |
| Plant, machinery and equipment | 23 | €1,000 | €6,787 | +€5,787 | +578.7% |
| Furniture and vehicles | 24 | €17,092 | €9,763 | -€7,329 | -42.9% |
| Other tangible fixed assets | 26 | €9,684 | €4,672 | -€5,012 | -51.8% |
| Financial fixed assets | 28 | €120 | €120 | = | 0.0% |
| Current assets | 29/58 | €44,006 | €35,194 | -€8,812 | -20.0% |
| Amounts receivable within one year | 40/41 | €34,699 | €32,152 | -€2,546 | -7.3% |
| Trade receivables | 40 | €30,136 | €28,357 | -€1,779 | -5.9% |
| Other amounts receivable | 41 | €4,563 | €3,796 | -€767 | -16.8% |
| Cash at bank and in hand | 54/58 | €6,629 | €2,352 | -€4,276 | -64.5% |
| Deferred charges and accrued income | 490/1 | €2,679 | €689 | -€1,989 | -74.3% |
| Total equity and liabilities | 10/49 | €71,903 | €56,536 | -€15,366 | -21.4% |
| Equity | 10/15 | -€12,834 | -€9,156 | +€3,678 | +28.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €5,641 | €5,641 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,782 | €3,782 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€37,067 | -€33,389 | +€3,678 | +9.9% |
| Amounts payable | 17/49 | €84,737 | €65,693 | -€19,044 | -22.5% |
| Amounts payable after more than one year | 17 | €4,566 | - | -€4,566 | |
| Financial debts | 170/4 | €4,566 | - | -€4,566 | |
| Amounts payable within one year | 42/48 | €80,171 | €65,693 | -€14,478 | -18.1% |
| Current portion of amounts payable after more than one year | 42 | €4,931 | €4,566 | -€365 | -7.4% |
| Trade debts | 44 | €5,210 | €2,585 | -€2,624 | -50.4% |
| Suppliers | 440/4 | €5,210 | €2,585 | -€2,624 | -50.4% |
| Taxes, remuneration and social security | 45 | €2,250 | €2,687 | +€437 | +19.4% |
| Taxes | 450/3 | €2,250 | €2,687 | +€437 | +19.4% |
| Other amounts payable | 47/48 | €67,781 | €55,854 | -€11,927 | -17.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,879 | €13,660 | -€219 | -1.6% |
| Other operating charges | 640/8 | €1,955 | €1,201 | -€754 | -38.6% |
| Gross operating margin | 9900 | -€16,951 | €22,951 | +€39,901 | |
| Operating profit (loss) | 9901 | -€32,785 | €8,090 | +€40,874 | |
| Financial charges | 65/66B | €495 | €3,892 | +€3,397 | +686.7% |
| Recurring financial charges | 65 | €495 | €3,892 | +€3,397 | +686.7% |
| Profit (loss) for the period before taxes | 9903 | -€33,279 | €4,198 | +€37,477 | |
| Income taxes | 67/77 | €518 | €520 | +€2 | +0.3% |
| Profit (loss) for the period | 9904 | -€33,797 | €3,678 | +€37,475 | |
| Profit (loss) for the period to be appropriated | 9905 | -€33,797 | €3,678 | +€37,475 |
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 5 October 2026 via checked.be.