VANTAGEM: 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.
VANTAGEM
Largest movements
- Cash +€52,299
up €52,299 (+665.0%), from €7,864 to €60,164
mainly Net result for the year (+€33,788) and Receivables within one year (+€13,252)
- Receivables within one year -€13,252
down €13,252 (-41.1%), from €32,278 to €19,026
of which Other amounts receivable: -€20,752
- Intangible fixed assets -€4,150
down €4,150 (-43.4%), from €9,556 to €5,405
- Reserves +€33,788
up €33,788 (+90.7%), from €37,233 to €71,022
- Trade debts -€1,232
down €1,232 (-98.6%), from €1,249 to €17
- Accrued charges and deferred income +€1,168
up €1,168 (+18.1%), from €6,458 to €7,626
- Financial income +€20,119
up €20,119 (+14955.9%), from €135 to €20,253
- Gross operating margin +€7,346
up €7,346 (+38.4%), from €19,117 to €26,463
- Taxes +€2,389
up €2,389 (+200.3%), from €1,193 to €3,582
- Other operating charges +€1,431
up €1,431 (+42.5%), from €3,369 to €4,800
- Depreciation +€1,078
up €1,078 (+35.1%), from €3,072 to €4,150
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 | €50,697 | €85,595 | +€34,898 | +68.8% |
| Fixed assets | 21/28 | €10,556 | €6,405 | -€4,150 | -39.3% |
| Intangible fixed assets | 21 | €9,556 | €5,405 | -€4,150 | -43.4% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €40,142 | €79,190 | +€39,048 | +97.3% |
| Amounts receivable within one year | 40/41 | €32,278 | €19,026 | -€13,252 | -41.1% |
| Trade receivables | 40 | €11,000 | €18,500 | +€7,500 | +68.2% |
| Other amounts receivable | 41 | €21,278 | €526 | -€20,752 | -97.5% |
| Cash at bank and in hand | 54/58 | €7,864 | €60,164 | +€52,299 | +665.0% |
| Total equity and liabilities | 10/49 | €50,697 | €85,595 | +€34,898 | +68.8% |
| Equity | 10/15 | €37,233 | €71,022 | +€33,788 | +90.7% |
| Reserves | 13 | €37,233 | €71,022 | +€33,788 | +90.7% |
| Distributable reserves | 133 | €37,233 | €71,022 | +€33,788 | +90.7% |
| Amounts payable | 17/49 | €13,464 | €14,574 | +€1,109 | +8.2% |
| Amounts payable within one year | 42/48 | €7,007 | €6,947 | -€59 | -0.8% |
| Trade debts | 44 | €1,249 | €17 | -€1,232 | -98.6% |
| Suppliers | 440/4 | €1,249 | €17 | -€1,232 | -98.6% |
| Taxes, remuneration and social security | 45 | €3,044 | €3,582 | +€537 | +17.6% |
| Taxes | 450/3 | €3,044 | €3,582 | +€537 | +17.6% |
| Other amounts payable | 47/48 | €2,713 | €3,349 | +€636 | +23.4% |
| Accrued charges and deferred income | 492/3 | €6,458 | €7,626 | +€1,168 | +18.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,072 | €4,150 | +€1,078 | +35.1% |
| Other operating charges | 640/8 | €3,369 | €4,800 | +€1,431 | +42.5% |
| Gross operating margin | 9900 | €19,117 | €26,463 | +€7,346 | +38.4% |
| Operating profit (loss) | 9901 | €12,676 | €17,513 | +€4,837 | +38.2% |
| Financial income | 75/76B | €135 | €20,253 | +€20,119 | +14955.9% |
| Recurring financial income | 75 | €135 | €20,253 | +€20,119 | +14955.9% |
| Financial charges | 65/66B | €170 | €396 | +€226 | +132.5% |
| Recurring financial charges | 65 | €170 | €396 | +€226 | +132.5% |
| Profit (loss) for the period before taxes | 9903 | €12,640 | €37,370 | +€24,730 | +195.6% |
| Income taxes | 67/77 | €1,193 | €3,582 | +€2,389 | +200.3% |
| Profit (loss) for the period | 9904 | €11,447 | €33,788 | +€22,341 | +195.2% |
| Profit (loss) for the period to be appropriated | 9905 | €11,447 | €33,788 | +€22,341 | +195.2% |
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 4 October 2026 via checked.be.