VANTAX: 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.
VANTAX
Largest movements
- Current investments -€250,000
down €250,000 (-100.0%), from €250,000 to €0
- Cash +€154,626
up €154,626 (+62.6%), from €247,048 to €401,674
mainly Current investments (+€250,000) and Receivables after one year (+€80,000)
- Receivables after one year -€80,000
down €80,000 (-35.6%), from €225,000 to €145,000
- Tangible fixed assets -€39,337
down €39,337 (-11.1%), from €355,531 to €316,193
of which Land and buildings: -€35,025
- Other debts -€240,601
down €240,601 (-95.2%), from €252,600 to €11,999
- Reserves +€42,166
up €42,166 (+5.4%), from €779,677 to €821,843
of which Distributable reserves: +€42,166
- Debts after one year -€31,105
down €31,105 (-39.0%), from €79,857 to €48,752
- Tax, wage and social debts +€19,399
up €19,399 (+145.3%), from €13,354 to €32,753
- Gross operating margin +€28,815
up €28,815 (+35.1%), from €82,144 to €110,959
- Taxes +€9,373
up €9,373 (+69.3%), from €13,520 to €22,893
- Financial charges -€1,871
down €1,871 (-32.3%), from €5,798 to €3,927
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 | €1,170,317 | €957,869 | -€212,448 | -18.2% |
| Fixed assets | 21/28 | €355,531 | €316,193 | -€39,337 | -11.1% |
| Tangible fixed assets | 22/27 | €355,531 | €316,193 | -€39,337 | -11.1% |
| Land and buildings | 22 | €318,835 | €283,810 | -€35,025 | -11.0% |
| Plant, machinery and equipment | 23 | €31,762 | €23,616 | -€8,146 | -25.6% |
| Furniture and vehicles | 24 | €2,548 | €6,382 | +€3,834 | +150.4% |
| Other tangible fixed assets | 26 | €2,385 | €2,385 | = | 0.0% |
| Current assets | 29/58 | €814,786 | €641,675 | -€173,111 | -21.2% |
| Amounts receivable after more than one year | 29 | €225,000 | €145,000 | -€80,000 | -35.6% |
| Other amounts receivable | 291 | €225,000 | €145,000 | -€80,000 | -35.6% |
| Amounts receivable within one year | 40/41 | €85,651 | €86,465 | +€813 | +0.9% |
| Trade receivables | 40 | €11,458 | €12,043 | +€585 | +5.1% |
| Other amounts receivable | 41 | €74,193 | €74,422 | +€229 | +0.3% |
| Current investments | 50/53 | €250,000 | €0 | -€250,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €247,048 | €401,674 | +€154,626 | +62.6% |
| Deferred charges and accrued income | 490/1 | €7,086 | €8,536 | +€1,450 | +20.5% |
| Total equity and liabilities | 10/49 | €1,170,317 | €957,869 | -€212,448 | -18.2% |
| Equity | 10/15 | €785,877 | €828,043 | +€42,166 | +5.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €779,677 | €821,843 | +€42,166 | +5.4% |
| Non-distributable reserves | 130/1 | €3,860 | €3,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,860 | €3,860 | = | 0.0% |
| Distributable reserves | 133 | €775,817 | €817,983 | +€42,166 | +5.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €384,439 | €129,825 | -€254,614 | -66.2% |
| Amounts payable after more than one year | 17 | €79,857 | €48,752 | -€31,105 | -39.0% |
| Financial debts | 170/4 | €79,857 | €48,752 | -€31,105 | -39.0% |
| Amounts payable within one year | 42/48 | €304,583 | €81,074 | -€223,509 | -73.4% |
| Current portion of amounts payable after more than one year | 42 | €30,582 | €31,105 | +€524 | +1.7% |
| Financial debts | 43 | €3,388 | €0 | -€3,388 | -100.0% |
| Credit institutions | 430/8 | €3,388 | €0 | -€3,388 | -100.0% |
| Trade debts | 44 | €4,659 | €5,217 | +€558 | +12.0% |
| Suppliers | 440/4 | €4,659 | €5,217 | +€558 | +12.0% |
| Taxes, remuneration and social security | 45 | €13,354 | €32,753 | +€19,399 | +145.3% |
| Taxes | 450/3 | €13,354 | €32,753 | +€19,399 | +145.3% |
| Other amounts payable | 47/48 | €252,600 | €11,999 | -€240,601 | -95.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,207 | €44,391 | -€816 | -1.8% |
| Other operating charges | 640/8 | €4,737 | €3,865 | -€871 | -18.4% |
| Gross operating margin | 9900 | €82,144 | €110,959 | +€28,815 | +35.1% |
| Operating profit (loss) | 9901 | €32,201 | €62,703 | +€30,502 | +94.7% |
| Financial income | 75/76B | €6,333 | €6,283 | -€50 | -0.8% |
| Recurring financial income | 75 | €6,333 | €6,283 | -€50 | -0.8% |
| Financial charges | 65/66B | €5,798 | €3,927 | -€1,871 | -32.3% |
| Recurring financial charges | 65 | €5,798 | €3,927 | -€1,871 | -32.3% |
| Profit (loss) for the period before taxes | 9903 | €32,736 | €65,059 | +€32,323 | +98.7% |
| Income taxes | 67/77 | €13,520 | €22,893 | +€9,373 | +69.3% |
| Profit (loss) for the period | 9904 | €19,216 | €42,166 | +€22,950 | +119.4% |
| Profit (loss) for the period to be appropriated | 9905 | €19,216 | €42,166 | +€22,950 | +119.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.