VANTO: 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.
What changed
VANTO
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€294,078
2024 · -€284,594-€9,485
Equity
€18.2m
2024 · €18.4m-€293,954
Cash
€440,047
2024 · €205,544+€234,504
Balance sheet total
€21.1m
2024 · €21.6m-€432,247
Largest movements
Assets
- Receivables after one year -€852,008
down €852,008 (-10.2%), from €8.4m to €7.5m
- Receivables within one year +€310,361
up €310,361 (+19.0%), from €1.6m to €1.9m
of which Trade receivables: +€156,646
- Cash +€234,504
up €234,504 (+114%), from €205,544 to €440,047
mainly Receivables after one year (+€852,008) and Depreciation (+€114,951)
Equity and liabilities
- Profit (loss) carried forward -€294,078
down €294,078 (-4.3%), from -€6.8m to -€7.1m
Income statement
- Gross operating margin -€201,590
down €201,590, from €53,061 to -€148,529
- Financial charges -€148,630
down €148,630 (-59.4%), from €250,144 to €101,514
- Other operating charges -€30,188
down €30,188 (-66.2%), from €45,586 to €15,398
- Financial income +€17,944
up €17,944 (+5.9%), from €302,605 to €320,549
- Depreciation +€3,889
up €3,889 (+3.5%), from €111,062 to €114,951
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.
Result 2024
-€284,594
Gross operating margin
-€201,590
Staff costs
-€903
Depreciation
-€3,889
Other operating charges
+€30,188
Financial income
+€17,944
Financial charges
+€148,630
Taxes
+€138
Deferred taxes and other
-€2
Result 2025
-€294,078
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€350,260
Investment
+€9,119
Financing
-€124,875
Cash 2024
€205,544
From operations (derived)
+€350,260
Net result for the year
-€294,078
Depreciation
+€114,951
Receivables after one year
+€852,008
Receivables within one year
-€310,361
Smaller working-capital items
+€882
Trade debts
-€13,142
Investment (derived)
+€9,119
Investment in fixed assets (net)
+€9,119
Financing
-€124,875
Debts after one year
-€125,000
Contributions, distributions and other
+€125
Cash 2025
€440,047
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €21,556,544 | €21,124,297 | -€432,247 | -2.0% |
| Fixed assets | 21/28 | €11,344,946 | €11,220,875 | -€124,070 | -1.1% |
| Tangible fixed assets | 22/27 | €1,901,651 | €1,841,369 | -€60,282 | -3.2% |
| Land and buildings | 22 | €1,550,668 | €1,503,767 | -€46,901 | -3.0% |
| Plant, machinery and equipment | 23 | €207,866 | €211,112 | +€3,246 | +1.6% |
| Furniture and vehicles | 24 | €143,117 | €126,490 | -€16,627 | -11.6% |
| Financial fixed assets | 28 | €9,443,295 | €9,379,507 | -€63,788 | -0.7% |
| Current assets | 29/58 | €10,211,598 | €9,903,421 | -€308,177 | -3.0% |
| Amounts receivable after more than one year | 29 | €8,365,476 | €7,513,469 | -€852,008 | -10.2% |
| Other amounts receivable | 291 | €8,365,476 | €7,513,469 | -€852,008 | -10.2% |
| Amounts receivable within one year | 40/41 | €1,632,717 | €1,943,078 | +€310,361 | +19.0% |
| Trade receivables | 40 | €734,663 | €891,309 | +€156,646 | +21.3% |
| Other amounts receivable | 41 | €898,054 | €1,051,768 | +€153,715 | +17.1% |
| Cash at bank and in hand | 54/58 | €205,544 | €440,047 | +€234,504 | +114% |
| Deferred charges and accrued income | 490/1 | €7,861 | €6,828 | -€1,034 | -13.1% |
| Total equity and liabilities | 10/49 | €21,556,544 | €21,124,297 | -€432,247 | -2.0% |
| Equity | 10/15 | €18,448,450 | €18,154,496 | -€293,954 | -1.6% |
| Contributions | 10/11 | €25,000,000 | €25,000,000 | = | 0.0% |
| Capital | 10 | €25,000,000 | €25,000,000 | = | 0.0% |
| Issued capital | 100 | €25,000,000 | €25,000,000 | = | 0.0% |
| Revaluation surpluses | 12 | €213,933 | €213,933 | = | 0.0% |
| Reserves | 13 | €29,163 | €29,288 | +€125 | +0.4% |
| Non-distributable reserves | 130/1 | €28,551 | €28,551 | = | 0.0% |
| Legal reserve | 130 | €28,551 | €28,551 | = | 0.0% |
| Tax-exempt reserves | 132 | €612 | €737 | +€125 | +20.3% |
| Profit (loss) carried forward | 14 | -€6,794,646 | -€7,088,725 | -€294,078 | -4.3% |
| Amounts payable | 17/49 | €3,108,094 | €2,969,800 | -€138,293 | -4.4% |
| Amounts payable after more than one year | 17 | €2,912,500 | €2,787,500 | -€125,000 | -4.3% |
| Financial debts | 170/4 | €2,912,500 | €2,787,500 | -€125,000 | -4.3% |
| Amounts payable within one year | 42/48 | €195,131 | €181,903 | -€13,227 | -6.8% |
| Current portion of amounts payable after more than one year | 42 | €125,000 | €125,000 | = | 0.0% |
| Trade debts | 44 | €30,650 | €17,508 | -€13,142 | -42.9% |
| Suppliers | 440/4 | €30,650 | €17,508 | -€13,142 | -42.9% |
| Taxes, remuneration and social security | 45 | €39,481 | €39,395 | -€86 | -0.2% |
| Taxes | 450/3 | €5,425 | €6,457 | +€1,032 | +19.0% |
| Remuneration and social security | 454/9 | €34,056 | €32,939 | -€1,117 | -3.3% |
| Accrued charges and deferred income | 492/3 | €463 | €397 | -€66 | -14.2% |
| Remuneration, social security and pensions | 62 | €232,762 | €233,666 | +€903 | +0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €111,062 | €114,951 | +€3,889 | +3.5% |
| Other operating charges | 640/8 | €45,586 | €15,398 | -€30,188 | -66.2% |
| Gross operating margin | 9900 | €53,061 | -€148,529 | -€201,590 | |
| Operating profit (loss) | 9901 | -€336,349 | -€512,544 | -€176,195 | -52.4% |
| Financial income | 75/76B | €302,605 | €320,549 | +€17,944 | +5.9% |
| Recurring financial income | 75 | €302,605 | €320,549 | +€17,944 | +5.9% |
| Financial charges | 65/66B | €250,144 | €101,514 | -€148,630 | -59.4% |
| Recurring financial charges | 65 | €250,144 | €101,514 | -€148,630 | -59.4% |
| Profit (loss) for the period before taxes | 9903 | -€283,887 | -€293,508 | -€9,621 | -3.4% |
| Transfer to deferred taxes | 680 | €122 | €125 | +€2 | +1.8% |
| Income taxes | 67/77 | €584 | €446 | -€138 | -23.7% |
| Profit (loss) for the period | 9904 | -€284,594 | -€294,078 | -€9,485 | -3.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€284,594 | -€294,078 | -€9,485 | -3.3% |
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 13 October 2026 via checked.be.