VANTAGE: 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.
VANTAGE
Largest movements
- Deferred charges and accrued income +€145
up €145 (+135%), from €107 to €252
- Stocks and contracts -€128
down €128 (-14.2%), from €901 to €773
- Cash +€81
up €81 (+12.4%), from €652 to €733
mainly Other debts (+€4,844) and Trade debts (+€196)
- Profit (loss) carried forward -€5,130
down €5,130 (-3.4%), from -€152,756 to -€157,885
- Other debts +€4,844
up €4,844 (+3.5%), from €139,205 to €144,049
- Trade debts +€196
up €196 (+33.7%), from €582 to €778
- Tax, wage and social debts +€188
up €188 (+28.1%), from €667 to €854
- Gross operating margin +€2,600
up €2,600 (+38.2%), from -€6,800 to -€4,200
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 | €1,660 | €1,758 | +€98 | +5.9% |
| Current assets | 29/58 | €1,660 | €1,758 | +€98 | +5.9% |
| Stocks and contracts in progress | 3 | €901 | €773 | -€128 | -14.2% |
| Stocks | 30/36 | €901 | €773 | -€128 | -14.2% |
| Cash at bank and in hand | 54/58 | €652 | €733 | +€81 | +12.4% |
| Deferred charges and accrued income | 490/1 | €107 | €252 | +€145 | +135% |
| Total equity and liabilities | 10/49 | €1,660 | €1,758 | +€98 | +5.9% |
| Equity | 10/15 | -€138,793 | -€143,923 | -€5,130 | -3.7% |
| Contributions | 10/11 | €12,592 | €12,592 | = | 0.0% |
| Reserves | 13 | €1,370 | €1,370 | = | 0.0% |
| Distributable reserves | 133 | €1,370 | €1,370 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€152,756 | -€157,885 | -€5,130 | -3.4% |
| Amounts payable | 17/49 | €140,454 | €145,681 | +€5,227 | +3.7% |
| Amounts payable within one year | 42/48 | €140,454 | €145,681 | +€5,227 | +3.7% |
| Trade debts | 44 | €582 | €778 | +€196 | +33.7% |
| Suppliers | 440/4 | €582 | €778 | +€196 | +33.7% |
| Taxes, remuneration and social security | 45 | €667 | €854 | +€188 | +28.1% |
| Taxes | 450/3 | €667 | €854 | +€188 | +28.1% |
| Other amounts payable | 47/48 | €139,205 | €144,049 | +€4,844 | +3.5% |
| Other operating charges | 640/8 | €678 | €694 | +€16 | +2.4% |
| Gross operating margin | 9900 | -€6,800 | -€4,200 | +€2,600 | +38.2% |
| Operating profit (loss) | 9901 | -€7,478 | -€4,894 | +€2,584 | +34.6% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €239 | €237 | -€2 | -1.0% |
| Recurring financial charges | 65 | €239 | €237 | -€2 | -1.0% |
| Profit (loss) for the period before taxes | 9903 | -€7,717 | -€5,130 | +€2,587 | +33.5% |
| Profit (loss) for the period | 9904 | -€7,717 | -€5,130 | +€2,587 | +33.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,717 | -€5,130 | +€2,587 | +33.5% |
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 18 October 2026 via checked.be.