VANVACO: 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.
VANVACO
Largest movements
- Cash +€23,208
up €23,208 (+34.3%), from €67,570 to €90,778
mainly Net result for the year (+€22,835) and Depreciation (+€12,821)
- Tangible fixed assets -€13,007
down €13,007 (-27.9%), from €46,684 to €33,677
of which Land and buildings: -€7,288
- Reserves +€22,835
up €22,835 (+6.9%), from €332,655 to €355,490
- Trade debts -€14,541
down €14,541 (-21.8%), from €66,569 to €52,028
- Debts after one year -€5,452
down €5,452 (-24.3%), from €22,478 to €17,026
- Gross operating margin -€11,376
down €11,376 (-6.6%), from €171,681 to €160,306
- Taxes -€7,048
down €7,048 (-43.0%), from €16,376 to €9,328
- Staff costs +€5,596
up €5,596 (+5.6%), from €100,372 to €105,968
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 | €423,142 | €430,640 | +€7,498 | +1.8% |
| Fixed assets | 21/28 | €48,184 | €35,177 | -€13,007 | -27.0% |
| Tangible fixed assets | 22/27 | €46,684 | €33,677 | -€13,007 | -27.9% |
| Land and buildings | 22 | €28,564 | €21,276 | -€7,288 | -25.5% |
| Plant, machinery and equipment | 23 | €18,120 | €12,401 | -€5,719 | -31.6% |
| Financial fixed assets | 28 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €374,959 | €395,463 | +€20,505 | +5.5% |
| Stocks and contracts in progress | 3 | €113,504 | €114,557 | +€1,054 | +0.9% |
| Stocks | 30/36 | €113,504 | €114,557 | +€1,054 | +0.9% |
| Amounts receivable within one year | 40/41 | €26,884 | €24,090 | -€2,794 | -10.4% |
| Trade receivables | 40 | €4,480 | €1,110 | -€3,370 | -75.2% |
| Other amounts receivable | 41 | €22,404 | €22,981 | +€577 | +2.6% |
| Current investments | 50/53 | €158,029 | €158,029 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €67,570 | €90,778 | +€23,208 | +34.3% |
| Deferred charges and accrued income | 490/1 | €8,972 | €8,009 | -€963 | -10.7% |
| Total equity and liabilities | 10/49 | €423,142 | €430,640 | +€7,498 | +1.8% |
| Equity | 10/15 | €308,169 | €331,004 | +€22,835 | +7.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €332,655 | €355,490 | +€22,835 | +6.9% |
| Distributable reserves | 133 | €332,655 | €355,490 | +€22,835 | +6.9% |
| Profit (loss) carried forward | 14 | -€43,086 | -€43,086 | = | 0.0% |
| Amounts payable | 17/49 | €114,973 | €99,636 | -€15,337 | -13.3% |
| Amounts payable after more than one year | 17 | €22,478 | €17,026 | -€5,452 | -24.3% |
| Financial debts | 170/4 | €22,478 | €17,026 | -€5,452 | -24.3% |
| Amounts payable within one year | 42/48 | €91,615 | €82,610 | -€9,004 | -9.8% |
| Current portion of amounts payable after more than one year | 42 | €5,344 | €5,452 | +€108 | +2.0% |
| Financial debts | 43 | €5,077 | €6,743 | +€1,666 | +32.8% |
| Credit institutions | 430/8 | €5,077 | €6,743 | +€1,666 | +32.8% |
| Trade debts | 44 | €66,569 | €52,028 | -€14,541 | -21.8% |
| Suppliers | 440/4 | €66,569 | €52,028 | -€14,541 | -21.8% |
| Taxes, remuneration and social security | 45 | €13,927 | €16,519 | +€2,591 | +18.6% |
| Taxes | 450/3 | €24 | €564 | +€541 | +2282.2% |
| Remuneration and social security | 454/9 | €13,904 | €15,954 | +€2,051 | +14.7% |
| Other amounts payable | 47/48 | €697 | €1,869 | +€1,172 | +168.1% |
| Accrued charges and deferred income | 492/3 | €880 | €0 | -€880 | -100.0% |
| Remuneration, social security and pensions | 62 | €100,372 | €105,968 | +€5,596 | +5.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,426 | €12,821 | -€605 | -4.5% |
| Other operating charges | 640/8 | €2,357 | €2,931 | +€574 | +24.4% |
| Non-recurring operating charges | 66A | - | €2,161 | +€2,161 | |
| Gross operating margin | 9900 | €171,681 | €160,306 | -€11,376 | -6.6% |
| Operating profit (loss) | 9901 | €55,527 | €36,425 | -€19,102 | -34.4% |
| Financial income | 75/76B | €0 | €316 | +€316 | +150504.8% |
| Recurring financial income | 75 | €0 | €316 | +€316 | +150504.8% |
| Financial charges | 65/66B | €4,728 | €4,579 | -€149 | -3.2% |
| Recurring financial charges | 65 | €4,728 | €4,579 | -€149 | -3.2% |
| Profit (loss) for the period before taxes | 9903 | €50,799 | €32,163 | -€18,636 | -36.7% |
| Income taxes | 67/77 | €16,376 | €9,328 | -€7,048 | -43.0% |
| Profit (loss) for the period | 9904 | €34,423 | €22,835 | -€11,588 | -33.7% |
| Profit (loss) for the period to be appropriated | 9905 | €34,423 | €22,835 | -€11,588 | -33.7% |
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 9 October 2026 via checked.be.