Vantro: what changed
What changed
Vantro
NACE 29.201, Manufacture of motor vehicles, trailers and semi-trailers
filed annual accounts (NBB)
Net result for the year
€1.8m
2024 · €1.7m+€72,620
Equity
€3.4m
2024 · €2.6m+€813,703
Cash
€1.2m
2024 · €686,369+€487,139
Balance sheet total
€7.8m
2024 · €8.0m-€230,485
Largest movements
Assets
- Receivables within one year -€1.3m
down €1.3m (-42.6%), from €3.0m to €1.7m
of which Other amounts receivable: -€721,445
- Cash +€487,139
up €487,139 (+71.0%), from €686,369 to €1.2m
mainly Net result for the year (+€1.8m) and Receivables within one year (+€1.3m)
- Tangible fixed assets +€289,291
up €289,291 (+7.1%), from €4.1m to €4.4m
of which Leasing and similar rights: +€168,114
- Stocks and contracts +€204,395
up €204,395 (+125%), from €163,753 to €368,148
Equity and liabilities
- Other debts -€1.0m
down €1.0m (-100%), from €1.0m to €0
- Reserves +€813,703
up €813,703 (+33.1%), from €2.5m to €3.3m
of which Distributable reserves: +€813,703
- Trade debts -€265,114
down €265,114 (-36.0%), from €736,245 to €471,132
- Debts after one year +€130,509
up €130,509 (+4.0%), from €3.3m to €3.4m
Income statement
- Gross operating margin +€1.2m
up €1.2m (+38.0%), from €3.1m to €4.2m
- Staff costs +€657,889
up €657,889 (+93.6%), from €703,123 to €1.4m
- Depreciation +€208,035
up €208,035 (+195%), from €106,612 to €314,647
- Taxes +€119,520
up €119,520 (+24.9%), from €479,961 to €599,481
- Financial charges +€103,267
up €103,267 (+225%), from €45,970 to €149,238
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€1.7m
Gross operating margin
+€1.2m
Staff costs
-€657,889
Depreciation
-€208,035
Other operating charges
-€821
Other operating items
+€2,176
Financial income
-€6,724
Financial charges
-€103,267
Taxes
-€119,520
Result 2025
€1.8m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€2.0m
Investment
-€667,049
Financing
-€816,529
Cash 2024
€686,369
From operations (derived)
+€2.0m
Net result for the year
+€1.8m
Depreciation
+€314,647
Stocks and contracts
-€204,395
Receivables within one year
+€1.3m
Smaller working-capital items
-€3,752
Trade debts
-€265,114
Tax, wage and social debts
+€39,683
Other debts
-€1.0m
Investment (derived)
-€667,049
Investment in fixed assets (net)
-€667,049
Financing
-€816,529
Debts after one year
+€130,509
Current portion of long-term debt
+€52,962
Contributions, distributions and other
-€1.0m
Cash 2025
€1.2m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,992,064 | €7,761,578 | -€230,485 | -2.9% |
| Fixed assets | 21/28 | €4,085,517 | €4,437,919 | +€352,402 | +8.6% |
| Intangible fixed assets | 21 | €3,142 | €66,254 | +€63,111 | +2,008% |
| Tangible fixed assets | 22/27 | €4,062,406 | €4,351,697 | +€289,291 | +7.1% |
| Plant, machinery and equipment | 23 | €80,846 | €78,627 | -€2,219 | -2.7% |
| Furniture and vehicles | 24 | €147,284 | €265,563 | +€118,279 | +80.3% |
| Leasing and similar rights | 25 | €3,797,193 | €3,965,307 | +€168,114 | +4.4% |
| Other tangible fixed assets | 26 | €37,084 | €42,199 | +€5,116 | +13.8% |
| Financial fixed assets | 28 | €19,969 | €19,969 | = | 0.0% |
| Current assets | 29/58 | €3,906,546 | €3,323,659 | -€582,887 | -14.9% |
| Stocks and contracts in progress | 3 | €163,753 | €368,148 | +€204,395 | +125% |
| Stocks | 30/36 | €163,753 | €368,148 | +€204,395 | +125% |
| Amounts receivable within one year | 40/41 | €2,994,297 | €1,718,353 | -€1.3m | -42.6% |
| Trade receivables | 40 | €1,727,708 | €1,173,208 | -€554,500 | -32.1% |
| Other amounts receivable | 41 | €1,266,589 | €545,144 | -€721,445 | -57.0% |
| Cash at bank and in hand | 54/58 | €686,369 | €1,173,508 | +€487,139 | +71.0% |
| Deferred charges and accrued income | 490/1 | €62,127 | €63,650 | +€1,523 | +2.5% |
| Total equity and liabilities | 10/49 | €7,992,064 | €7,761,578 | -€230,485 | -2.9% |
| Equity | 10/15 | €2,571,546 | €3,385,248 | +€813,703 | +31.6% |
| Contributions | 10/11 | €109,693 | €109,693 | = | 0.0% |
| Reserves | 13 | €2,461,853 | €3,275,556 | +€813,703 | +33.1% |
| Non-distributable reserves | 130/1 | €10,969 | €10,969 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,969 | €10,969 | = | 0.0% |
| Distributable reserves | 133 | €2,450,884 | €3,264,586 | +€813,703 | +33.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €5,420,518 | €4,376,330 | -€1.0m | -19.3% |
| Amounts payable after more than one year | 17 | €3,290,796 | €3,421,305 | +€130,509 | +4.0% |
| Financial debts | 170/4 | €3,290,796 | €3,421,305 | +€130,509 | +4.0% |
| Amounts payable within one year | 42/48 | €2,127,494 | €955,025 | -€1.2m | -55.1% |
| Current portion of amounts payable after more than one year | 42 | €195,532 | €248,494 | +€52,962 | +27.1% |
| Trade debts | 44 | €736,245 | €471,132 | -€265,114 | -36.0% |
| Suppliers | 440/4 | €736,245 | €471,132 | -€265,114 | -36.0% |
| Taxes, remuneration and social security | 45 | €195,717 | €235,400 | +€39,683 | +20.3% |
| Taxes | 450/3 | €73,932 | €71,422 | -€2,510 | -3.4% |
| Remuneration and social security | 454/9 | €121,784 | €163,978 | +€42,194 | +34.6% |
| Other amounts payable | 47/48 | €1,000,000 | €0 | -€1.0m | -100% |
| Accrued charges and deferred income | 492/3 | €2,228 | €0 | -€2,228 | -100% |
| Remuneration, social security and pensions | 62 | €703,123 | €1,361,012 | +€657,889 | +93.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €106,612 | €314,647 | +€208,035 | +195% |
| Other operating charges | 640/8 | €19,722 | €20,542 | +€821 | +4.2% |
| Non-recurring operating charges | 66A | €2,176 | €0 | -€2,176 | -100% |
| Gross operating margin | 9900 | €3,066,849 | €4,233,549 | +€1.2m | +38.0% |
| Operating profit (loss) | 9901 | €2,235,216 | €2,537,348 | +€302,132 | +13.5% |
| Financial income | 75/76B | €31,798 | €25,074 | -€6,724 | -21.1% |
| Recurring financial income | 75 | €31,798 | €25,074 | -€6,724 | -21.1% |
| Financial charges | 65/66B | €45,970 | €149,238 | +€103,267 | +225% |
| Recurring financial charges | 65 | €45,970 | €149,238 | +€103,267 | +225% |
| Profit (loss) for the period before taxes | 9903 | €2,221,043 | €2,413,184 | +€192,141 | +8.7% |
| Income taxes | 67/77 | €479,961 | €599,481 | +€119,520 | +24.9% |
| Profit (loss) for the period | 9904 | €1,741,082 | €1,813,703 | +€72,620 | +4.2% |
| Profit (loss) for the period to be appropriated | 9905 | €1,741,082 | €1,813,703 | +€72,620 | +4.2% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.