VANTEX: 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.
VANTEX
Largest movements
- Intangible fixed assets -€92,361
down €92,361 (-22.2%), from €415,624 to €323,263
- Profit (loss) carried forward -€99,099
new in 2025: -€99,099
- Other debts +€13,293
up €13,293 (+3.5%), from €384,543 to €397,836
- Tax, wage and social debts -€5,042
no longer reported in 2025 (was €5,042)
- Gross operating margin -€16,383
down €16,383, from €14,558 to -€1,826
- Taxes -€2,970
down €2,970 (-58.9%), from €5,042 to €2,072
- Depreciation -€271
down €271 (-0.3%), from €92,903 to €92,632
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €453,959 | €362,948 | -€91,011 | -20.0% |
| Fixed assets | 21/28 | €453,079 | €360,447 | -€92,632 | -20.4% |
| Intangible fixed assets | 21 | €415,624 | €323,263 | -€92,361 | -22.2% |
| Tangible fixed assets | 22/27 | €37,455 | €37,184 | -€271 | -0.7% |
| Land and buildings | 22 | €37,455 | €37,184 | -€271 | -0.7% |
| Current assets | 29/58 | €879 | €2,501 | +€1,621 | +184.4% |
| Amounts receivable within one year | 40/41 | €879 | €2,501 | +€1,621 | +184.4% |
| Trade receivables | 40 | €262 | €1,737 | +€1,474 | +562.1% |
| Other amounts receivable | 41 | €617 | €764 | +€147 | +23.8% |
| Total equity and liabilities | 10/49 | €453,959 | €362,948 | -€91,011 | -20.0% |
| Equity | 10/15 | €51,537 | -€47,562 | -€99,099 | |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €36,537 | €36,537 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,361 | €1,361 | = | 0.0% |
| Distributable reserves | 133 | €35,176 | €35,176 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€99,099 | -€99,099 | |
| Amounts payable | 17/49 | €402,422 | €410,510 | +€8,088 | +2.0% |
| Amounts payable within one year | 42/48 | €402,422 | €410,510 | +€8,088 | +2.0% |
| Financial debts | 43 | €5,146 | €4,555 | -€591 | -11.5% |
| Credit institutions | 430/8 | €5,146 | €4,555 | -€591 | -11.5% |
| Trade debts | 44 | €7,691 | €8,119 | +€428 | +5.6% |
| Suppliers | 440/4 | €7,691 | €8,119 | +€428 | +5.6% |
| Taxes, remuneration and social security | 45 | €5,042 | - | -€5,042 | |
| Taxes | 450/3 | €5,042 | - | -€5,042 | |
| Other amounts payable | 47/48 | €384,543 | €397,836 | +€13,293 | +3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €92,903 | €92,632 | -€271 | -0.3% |
| Other operating charges | 640/8 | €1,967 | €1,836 | -€131 | -6.7% |
| Gross operating margin | 9900 | €14,558 | -€1,826 | -€16,383 | |
| Operating profit (loss) | 9901 | -€80,313 | -€96,294 | -€15,981 | -19.9% |
| Financial charges | 65/66B | €653 | €733 | +€80 | +12.2% |
| Recurring financial charges | 65 | €653 | €733 | +€80 | +12.2% |
| Profit (loss) for the period before taxes | 9903 | -€80,966 | -€97,026 | -€16,061 | -19.8% |
| Income taxes | 67/77 | €5,042 | €2,072 | -€2,970 | -58.9% |
| Profit (loss) for the period | 9904 | -€86,008 | -€99,099 | -€13,091 | -15.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€86,008 | -€99,099 | -€13,091 | -15.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.