VANTORNOUT: 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.
VANTORNOUT
Largest movements
- Cash +€55,763
up €55,763 (+383.8%), from €14,531 to €70,294
mainly Current investments (+€55,065) and Depreciation (+€32,755)
- Current investments -€55,065
no longer reported in 2025 (was €55,065)
- Tangible fixed assets -€9,867
down €9,867 (-4.1%), from €242,907 to €233,039
of which Furniture and vehicles: -€8,533
- Receivables within one year -€6,393
down €6,393 (-6.0%), from €107,134 to €100,741
of which Other amounts receivable: -€15,341
- Accrued charges and deferred income -€30,000
down €30,000 (-100.0%), from €30,000 to €0
- Reserves +€23,360
up €23,360 (+16.1%), from €145,529 to €168,889
- Debts after one year -€17,114
down €17,114 (-14.2%), from €120,459 to €103,345
- Tax, wage and social debts +€7,327
up €7,327 (+79.5%), from €9,212 to €16,538
of which Remuneration and social security: +€6,788
- Gross operating margin +€38,396
up €38,396 (+18.3%), from €209,643 to €248,039
- Staff costs +€20,552
up €20,552 (+14.9%), from €137,587 to €158,139
- Other operating charges +€15,512
up €15,512 (+436.8%), from €3,551 to €19,063
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 | €425,853 | €409,001 | -€16,852 | -4.0% |
| Fixed assets | 21/28 | €245,990 | €234,356 | -€11,634 | -4.7% |
| Intangible fixed assets | 21 | €3,083 | €1,316 | -€1,767 | -57.3% |
| Tangible fixed assets | 22/27 | €242,907 | €233,039 | -€9,867 | -4.1% |
| Land and buildings | 22 | €201,446 | €193,665 | -€7,782 | -3.9% |
| Plant, machinery and equipment | 23 | €24,614 | €31,061 | +€6,447 | +26.2% |
| Furniture and vehicles | 24 | €16,847 | €8,314 | -€8,533 | -50.7% |
| Current assets | 29/58 | €179,863 | €174,646 | -€5,218 | -2.9% |
| Amounts receivable within one year | 40/41 | €107,134 | €100,741 | -€6,393 | -6.0% |
| Trade receivables | 40 | €35,684 | €44,633 | +€8,949 | +25.1% |
| Other amounts receivable | 41 | €71,450 | €56,108 | -€15,341 | -21.5% |
| Current investments | 50/53 | €55,065 | - | -€55,065 | |
| Cash at bank and in hand | 54/58 | €14,531 | €70,294 | +€55,763 | +383.8% |
| Deferred charges and accrued income | 490/1 | €3,133 | €3,610 | +€477 | +15.2% |
| Total equity and liabilities | 10/49 | €425,853 | €409,001 | -€16,852 | -4.0% |
| Equity | 10/15 | €164,129 | €187,489 | +€23,360 | +14.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €145,529 | €168,889 | +€23,360 | +16.1% |
| Distributable reserves | 133 | €145,529 | €168,889 | +€23,360 | +16.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €261,724 | €221,512 | -€40,213 | -15.4% |
| Amounts payable after more than one year | 17 | €120,459 | €103,345 | -€17,114 | -14.2% |
| Financial debts | 170/4 | €120,459 | €103,345 | -€17,114 | -14.2% |
| Amounts payable within one year | 42/48 | €111,265 | €118,167 | +€6,902 | +6.2% |
| Current portion of amounts payable after more than one year | 42 | €32,690 | €32,117 | -€573 | -1.8% |
| Financial debts | 43 | €2,965 | €3,670 | +€705 | +23.8% |
| Credit institutions | 430/8 | - | €3,670 | +€3,670 | |
| Other loans | 439 | €2,965 | - | -€2,965 | |
| Trade debts | 44 | €66,244 | €65,686 | -€558 | -0.8% |
| Suppliers | 440/4 | €66,244 | €65,686 | -€558 | -0.8% |
| Taxes, remuneration and social security | 45 | €9,212 | €16,538 | +€7,327 | +79.5% |
| Taxes | 450/3 | €5,135 | €5,674 | +€539 | +10.5% |
| Remuneration and social security | 454/9 | €4,077 | €10,865 | +€6,788 | +166.5% |
| Other amounts payable | 47/48 | €155 | €155 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €30,000 | €0 | -€30,000 | -100.0% |
| Remuneration, social security and pensions | 62 | €137,587 | €158,139 | +€20,552 | +14.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,918 | €32,755 | -€163 | -0.5% |
| Other operating charges | 640/8 | €3,551 | €19,063 | +€15,512 | +436.8% |
| Gross operating margin | 9900 | €209,643 | €248,039 | +€38,396 | +18.3% |
| Operating profit (loss) | 9901 | €35,588 | €38,082 | +€2,494 | +7.0% |
| Financial income | 75/76B | €3,293 | €2,916 | -€377 | -11.4% |
| Recurring financial income | 75 | €3,293 | €2,916 | -€377 | -11.4% |
| Financial charges | 65/66B | €9,002 | €7,464 | -€1,538 | -17.1% |
| Recurring financial charges | 65 | €9,002 | €7,464 | -€1,538 | -17.1% |
| Profit (loss) for the period before taxes | 9903 | €29,879 | €33,534 | +€3,655 | +12.2% |
| Income taxes | 67/77 | €10,135 | €10,173 | +€38 | +0.4% |
| Profit (loss) for the period | 9904 | €19,744 | €23,360 | +€3,617 | +18.3% |
| Profit (loss) for the period to be appropriated | 9905 | €19,744 | €23,360 | +€3,617 | +18.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.