@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
- Receivables after one year +€11,000
up €11,000 (+6.1%), from €180,000 to €191,000
- Receivables within one year +€8,175
up €8,175 (+1.9%), from €423,664 to €431,839
of which Trade receivables: +€35,000
- Other debts +€29,480
up €29,480 (+78.3%), from €37,666 to €67,146
- Tax, wage and social debts -€7,618
down €7,618 (-62.5%), from €12,190 to €4,572
of which Taxes: -€6,228
- Gross operating margin -€36,495
down €36,495 (-58.7%), from €62,144 to €25,649
- Staff costs -€14,340
down €14,340 (-30.1%), from €47,629 to €33,289
- Taxes -€4,920
no longer reported in 2025 (was €4,920)
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 | €615,583 | €631,367 | +€15,783 | +2.6% |
| Fixed assets | 21/28 | €2,271 | €3,227 | +€956 | +42.1% |
| Tangible fixed assets | 22/27 | €2,271 | €3,227 | +€956 | +42.1% |
| Furniture and vehicles | 24 | €2,271 | €3,227 | +€956 | +42.1% |
| Current assets | 29/58 | €613,312 | €628,140 | +€14,827 | +2.4% |
| Amounts receivable after more than one year | 29 | €180,000 | €191,000 | +€11,000 | +6.1% |
| Other amounts receivable | 291 | €180,000 | €191,000 | +€11,000 | +6.1% |
| Amounts receivable within one year | 40/41 | €423,664 | €431,839 | +€8,175 | +1.9% |
| Trade receivables | 40 | €76,908 | €111,908 | +€35,000 | +45.5% |
| Other amounts receivable | 41 | €346,756 | €319,931 | -€26,825 | -7.7% |
| Cash at bank and in hand | 54/58 | €9,648 | €5,301 | -€4,348 | -45.1% |
| Total equity and liabilities | 10/49 | €615,583 | €631,367 | +€15,783 | +2.6% |
| Equity | 10/15 | €565,185 | €559,557 | -€5,628 | -1.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €85,677 | €85,677 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €83,817 | €83,817 | = | 0.0% |
| Profit (loss) carried forward | 14 | €460,908 | €455,280 | -€5,628 | -1.2% |
| Amounts payable | 17/49 | €50,398 | €71,810 | +€21,411 | +42.5% |
| Amounts payable within one year | 42/48 | €50,398 | €71,810 | +€21,411 | +42.5% |
| Trade debts | 44 | €542 | €91 | -€451 | -83.2% |
| Suppliers | 440/4 | €542 | €91 | -€451 | -83.2% |
| Taxes, remuneration and social security | 45 | €12,190 | €4,572 | -€7,618 | -62.5% |
| Taxes | 450/3 | €6,363 | €135 | -€6,228 | -97.9% |
| Remuneration and social security | 454/9 | €5,827 | €4,437 | -€1,390 | -23.9% |
| Other amounts payable | 47/48 | €37,666 | €67,146 | +€29,480 | +78.3% |
| Non-recurring operating income | 76A | €8,950 | - | -€8,950 | |
| Remuneration, social security and pensions | 62 | €47,629 | €33,289 | -€14,340 | -30.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €382 | €726 | +€344 | +89.9% |
| Other operating charges | 640/8 | €620 | €1,033 | +€414 | +66.7% |
| Gross operating margin | 9900 | €62,144 | €25,649 | -€36,495 | -58.7% |
| Operating profit (loss) | 9901 | €13,513 | -€9,399 | -€22,912 | |
| Financial income | 75/76B | €3,600 | €3,820 | +€220 | +6.1% |
| Recurring financial income | 75 | €3,600 | €3,820 | +€220 | +6.1% |
| Financial charges | 65/66B | €43 | €49 | +€6 | +14.4% |
| Recurring financial charges | 65 | €43 | €49 | +€6 | +14.4% |
| Profit (loss) for the period before taxes | 9903 | €17,070 | -€5,628 | -€22,698 | |
| Income taxes | 67/77 | €4,920 | - | -€4,920 | |
| Profit (loss) for the period | 9904 | €12,151 | -€5,628 | -€17,779 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,151 | -€5,628 | -€17,779 |
Source: filed annual accounts (NBB), financial years ended 31 August 2024 and 31 August 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.