VANTER: 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.
VANTER
Largest movements
- Current investments -€302,497
down €302,497 (-100.0%), from €302,497 to €0
- Tangible fixed assets +€274,264
up €274,264 (+40.4%), from €678,799 to €953,063
of which Land and buildings: +€378,040
- Stocks and contracts -€269,194
down €269,194 (-100.0%), from €269,194 to €0
- Receivables within one year -€176,691
down €176,691 (-60.9%), from €290,004 to €113,314
of which Other amounts receivable: -€160,374
- Cash +€164,365
up €164,365 (+714.8%), from €22,994 to €187,359
mainly Current investments (+€302,497) and Net result for the year (+€290,085)
- Trade debts -€291,615
down €291,615 (-99.7%), from €292,440 to €825
- Debts after one year +€184,043
up €184,043 (+27.2%), from €677,233 to €861,275
- Other debts -€167,283
down €167,283 (-73.2%), from €228,392 to €61,109
- Profit (loss) carried forward -€116,249
new in 2025: -€116,249
- Provisions +€91,682
new in 2025: €91,682
- Gross operating margin +€235,939
up €235,939 (+110.3%), from €213,961 to €449,900
- Taxes -€28,133
down €28,133 (-83.5%), from €33,693 to €5,560
- Financial charges +€7,151
up €7,151 (+44.8%), from €15,975 to €23,126
- Financial income +€6,143
up €6,143 (+90.1%), from €6,819 to €12,961
- Depreciation -€5,058
down €5,058 (-11.0%), from €45,977 to €40,919
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 | €1,563,489 | €1,253,736 | -€309,753 | -19.8% |
| Fixed assets | 21/28 | €678,799 | €953,063 | +€274,264 | +40.4% |
| Tangible fixed assets | 22/27 | €678,799 | €953,063 | +€274,264 | +40.4% |
| Land and buildings | 22 | €435,000 | €813,040 | +€378,040 | +86.9% |
| Plant, machinery and equipment | 23 | €3,885 | €77,596 | +€73,710 | +1897.1% |
| Furniture and vehicles | 24 | €851 | €62,427 | +€61,576 | +7235.9% |
| Other tangible fixed assets | 26 | €239,063 | €0 | -€239,063 | -100.0% |
| Current assets | 29/58 | €884,689 | €300,673 | -€584,016 | -66.0% |
| Stocks and contracts in progress | 3 | €269,194 | €0 | -€269,194 | -100.0% |
| Stocks | 30/36 | €269,194 | €0 | -€269,194 | -100.0% |
| Amounts receivable within one year | 40/41 | €290,004 | €113,314 | -€176,691 | -60.9% |
| Trade receivables | 40 | €52,932 | €36,615 | -€16,316 | -30.8% |
| Other amounts receivable | 41 | €237,072 | €76,698 | -€160,374 | -67.6% |
| Current investments | 50/53 | €302,497 | €0 | -€302,497 | -100.0% |
| Cash at bank and in hand | 54/58 | €22,994 | €187,359 | +€164,365 | +714.8% |
| Total equity and liabilities | 10/49 | €1,563,489 | €1,253,736 | -€309,753 | -19.8% |
| Equity | 10/15 | €308,712 | €198,797 | -€109,915 | -35.6% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €268,712 | €275,046 | +€6,335 | +2.4% |
| Tax-exempt reserves | 132 | - | €275,046 | +€275,046 | |
| Distributable reserves | 133 | €268,712 | €0 | -€268,712 | -100.0% |
| Profit (loss) carried forward | 14 | - | -€116,249 | -€116,249 | |
| Provisions and deferred taxes | 16 | - | €91,682 | +€91,682 | |
| Deferred taxes | 168 | - | €91,682 | +€91,682 | |
| Amounts payable | 17/49 | €1,254,777 | €963,257 | -€291,520 | -23.2% |
| Amounts payable after more than one year | 17 | €677,233 | €861,275 | +€184,043 | +27.2% |
| Financial debts | 170/4 | €677,233 | €861,275 | +€184,043 | +27.2% |
| Amounts payable within one year | 42/48 | €577,545 | €101,982 | -€475,563 | -82.3% |
| Current portion of amounts payable after more than one year | 42 | €35,200 | €29,413 | -€5,787 | -16.4% |
| Trade debts | 44 | €292,440 | €825 | -€291,615 | -99.7% |
| Suppliers | 440/4 | €292,440 | €825 | -€291,615 | -99.7% |
| Taxes, remuneration and social security | 45 | €21,512 | €10,634 | -€10,878 | -50.6% |
| Taxes | 450/3 | €21,512 | €10,634 | -€10,878 | -50.6% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €228,392 | €61,109 | -€167,283 | -73.2% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,977 | €40,919 | -€5,058 | -11.0% |
| Other operating charges | 640/8 | €10,449 | €11,489 | +€1,040 | +10.0% |
| Gross operating margin | 9900 | €213,961 | €449,900 | +€235,939 | +110.3% |
| Operating profit (loss) | 9901 | €157,535 | €397,491 | +€239,956 | +152.3% |
| Financial income | 75/76B | €6,819 | €12,961 | +€6,143 | +90.1% |
| Recurring financial income | 75 | €6,819 | €12,961 | +€6,143 | +90.1% |
| Financial charges | 65/66B | €15,975 | €23,126 | +€7,151 | +44.8% |
| Recurring financial charges | 65 | €15,975 | €23,126 | +€7,151 | +44.8% |
| Profit (loss) for the period before taxes | 9903 | €148,379 | €387,327 | +€238,948 | +161.0% |
| Transfer from deferred taxes | 780 | - | €3,152 | +€3,152 | |
| Transfer to deferred taxes | 680 | - | €94,834 | +€94,834 | |
| Income taxes | 67/77 | €33,693 | €5,560 | -€28,133 | -83.5% |
| Profit (loss) for the period | 9904 | €114,686 | €290,085 | +€175,399 | +152.9% |
| Transfer from tax-exempt reserves | 789 | - | €9,455 | +€9,455 | |
| Transfer to tax-exempt reserves | 689 | - | €284,501 | +€284,501 | |
| Profit (loss) for the period to be appropriated | 9905 | €114,686 | €15,039 | -€99,647 | -86.9% |
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 8 October 2026 via checked.be.