@VANTAGE 4 YOU: 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 4 YOU
Largest movements
- Receivables within one year +€53,593
up €53,593 (+248%), from €21,651 to €75,244
of which Trade receivables: +€51,772
- Deferred charges and accrued income +€28,937
up €28,937 (+1,648%), from €1,756 to €30,692
- Cash -€28,433
down €28,433 (-37.7%), from €75,500 to €47,067
mainly Receivables within one year (-€53,593) and Deferred charges and accrued income (-€28,937)
- Tangible fixed assets +€11,071
up €11,071 (+44.9%), from €24,665 to €35,736
of which Furniture and vehicles: +€20,240
- Trade debts +€36,699
up €36,699 (+125%), from €29,396 to €66,096
- Current portion of long-term debt +€10,782
new in 2025: €10,782
- Debts after one year +€8,305
new in 2025: €8,305
- Tax, wage and social debts +€4,448
new in 2025: €4,448
- Gross operating margin +€32,638
up €32,638, from -€23,241 to €9,397
- Financial income -€25,169
down €25,169 (-69.0%), from €36,495 to €11,326
- Depreciation -€1,134
down €1,134 (-6.8%), from €16,567 to €15,433
- Financial charges -€354
down €354 (-18.1%), from €1,957 to €1,603
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 | €256,986 | €319,663 | +€62,677 | +24.4% |
| Fixed assets | 21/28 | €28,080 | €36,660 | +€8,581 | +30.6% |
| Intangible fixed assets | 21 | €3,415 | €925 | -€2,490 | -72.9% |
| Tangible fixed assets | 22/27 | €24,665 | €35,736 | +€11,071 | +44.9% |
| Plant, machinery and equipment | 23 | €20,414 | €11,245 | -€9,169 | -44.9% |
| Furniture and vehicles | 24 | €4,251 | €24,490 | +€20,240 | +476% |
| Current assets | 29/58 | €228,906 | €283,003 | +€54,097 | +23.6% |
| Amounts receivable after more than one year | 29 | €130,000 | €130,000 | = | 0.0% |
| Other amounts receivable | 291 | €130,000 | €130,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €21,651 | €75,244 | +€53,593 | +248% |
| Trade receivables | 40 | €5,469 | €57,241 | +€51,772 | +947% |
| Other amounts receivable | 41 | €16,181 | €18,003 | +€1,822 | +11.3% |
| Cash at bank and in hand | 54/58 | €75,500 | €47,067 | -€28,433 | -37.7% |
| Deferred charges and accrued income | 490/1 | €1,756 | €30,692 | +€28,937 | +1,648% |
| Total equity and liabilities | 10/49 | €256,986 | €319,663 | +€62,677 | +24.4% |
| Equity | 10/15 | €227,590 | €230,032 | +€2,443 | +1.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €296,232 | €296,232 | = | 0.0% |
| Distributable reserves | 133 | €296,232 | €296,232 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€87,243 | -€84,800 | +€2,443 | +2.8% |
| Amounts payable | 17/49 | €29,396 | €89,631 | +€60,235 | +205% |
| Amounts payable after more than one year | 17 | - | €8,305 | +€8,305 | |
| Financial debts | 170/4 | - | €8,305 | +€8,305 | |
| Amounts payable within one year | 42/48 | €29,396 | €81,326 | +€51,929 | +177% |
| Current portion of amounts payable after more than one year | 42 | - | €10,782 | +€10,782 | |
| Trade debts | 44 | €29,396 | €66,096 | +€36,699 | +125% |
| Suppliers | 440/4 | €29,396 | €66,096 | +€36,699 | +125% |
| Taxes, remuneration and social security | 45 | - | €4,448 | +€4,448 | |
| Taxes | 450/3 | - | €4,448 | +€4,448 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,567 | €15,433 | -€1,134 | -6.8% |
| Other operating charges | 640/8 | €947 | €838 | -€109 | -11.5% |
| Gross operating margin | 9900 | -€23,241 | €9,397 | +€32,638 | |
| Operating profit (loss) | 9901 | -€40,754 | -€6,873 | +€33,880 | +83.1% |
| Financial income | 75/76B | €36,495 | €11,326 | -€25,169 | -69.0% |
| Recurring financial income | 75 | €36,495 | €11,326 | -€25,169 | -69.0% |
| Financial charges | 65/66B | €1,957 | €1,603 | -€354 | -18.1% |
| Recurring financial charges | 65 | €1,957 | €1,603 | -€354 | -18.1% |
| Profit (loss) for the period before taxes | 9903 | -€6,216 | €2,849 | +€9,065 | |
| Income taxes | 67/77 | €426 | €407 | -€20 | -4.6% |
| Profit (loss) for the period | 9904 | -€6,642 | €2,443 | +€9,085 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,642 | €2,443 | +€9,085 |
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 22 October 2026 via checked.be.