VANVEC: 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.
VANVEC
Largest movements
- Receivables within one year -€71,463
down €71,463 (-71.8%), from €99,464 to €28,001
of which Trade receivables: -€71,593
- Cash +€18,076
up €18,076 (+295.9%), from €6,108 to €24,185
mainly Receivables within one year (+€71,463) and Other debts (+€33,907)
- Tangible fixed assets -€7,032
down €7,032 (-27.3%), from €25,732 to €18,700
- Debts after one year -€78,522
down €78,522 (-26.2%), from €299,589 to €221,067
- Reserves -€43,132
down €43,132 (-87.7%), from €49,198 to €6,066
of which Distributable reserves: -€43,132
- Other debts +€33,907
up €33,907 (+20.2%), from €168,256 to €202,163
- Tax, wage and social debts +€14,215
up €14,215 (+65.6%), from €21,658 to €35,873
of which Taxes: +€14,188
- Trade debts +€13,706
up €13,706 (+199.0%), from €6,887 to €20,594
- Gross operating margin +€23,238
up €23,238 (+65.5%), from €35,495 to €58,733
- Financial charges -€3,390
down €3,390 (-23.4%), from €14,457 to €11,067
of which Financial charges: -€1,961
- Taxes +€3,066
up €3,066 (+60.4%), from €5,079 to €8,145
- Depreciation +€772
up €772 (+12.3%), from €6,260 to €7,032
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 | €631,303 | €570,885 | -€60,418 | -9.6% |
| Fixed assets | 21/28 | €525,732 | €518,700 | -€7,032 | -1.3% |
| Tangible fixed assets | 22/27 | €25,732 | €18,700 | -€7,032 | -27.3% |
| Land and buildings | 22 | €9,490 | €8,905 | -€585 | -6.2% |
| Plant, machinery and equipment | 23 | €1,664 | €919 | -€744 | -44.7% |
| Furniture and vehicles | 24 | €9,449 | €6,311 | -€3,138 | -33.2% |
| Other tangible fixed assets | 26 | €5,129 | €2,565 | -€2,565 | -50.0% |
| Financial fixed assets | 28 | €500,000 | €500,000 | = | 0.0% |
| Current assets | 29/58 | €105,572 | €52,185 | -€53,387 | -50.6% |
| Amounts receivable within one year | 40/41 | €99,464 | €28,001 | -€71,463 | -71.8% |
| Trade receivables | 40 | €91,952 | €20,359 | -€71,593 | -77.9% |
| Other amounts receivable | 41 | €7,511 | €7,642 | +€130 | +1.7% |
| Cash at bank and in hand | 54/58 | €6,108 | €24,185 | +€18,076 | +295.9% |
| Total equity and liabilities | 10/49 | €631,303 | €570,885 | -€60,418 | -9.6% |
| Equity | 10/15 | €55,398 | €12,266 | -€43,132 | -77.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €49,198 | €6,066 | -€43,132 | -87.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €47,338 | €4,206 | -€43,132 | -91.1% |
| Amounts payable | 17/49 | €575,906 | €558,619 | -€17,287 | -3.0% |
| Amounts payable after more than one year | 17 | €299,589 | €221,067 | -€78,522 | -26.2% |
| Financial debts | 170/4 | €299,589 | €221,067 | -€78,522 | -26.2% |
| Amounts payable within one year | 42/48 | €275,932 | €337,152 | +€61,220 | +22.2% |
| Current portion of amounts payable after more than one year | 42 | €79,130 | €78,522 | -€608 | -0.8% |
| Trade debts | 44 | €6,887 | €20,594 | +€13,706 | +199.0% |
| Suppliers | 440/4 | €6,887 | €20,594 | +€13,706 | +199.0% |
| Taxes, remuneration and social security | 45 | €21,658 | €35,873 | +€14,215 | +65.6% |
| Taxes | 450/3 | €16,698 | €30,886 | +€14,188 | +85.0% |
| Remuneration and social security | 454/9 | €4,961 | €4,987 | +€27 | +0.5% |
| Other amounts payable | 47/48 | €168,256 | €202,163 | +€33,907 | +20.2% |
| Accrued charges and deferred income | 492/3 | €384 | €400 | +€15 | +4.0% |
| Non-recurring operating income | 76A | - | €14,286 | +€14,286 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,260 | €7,032 | +€772 | +12.3% |
| Other operating charges | 640/8 | €1,051 | €621 | -€429 | -40.9% |
| Non-recurring operating charges | 66A | €1,569 | - | -€1,569 | |
| Gross operating margin | 9900 | €35,495 | €58,733 | +€23,238 | +65.5% |
| Operating profit (loss) | 9901 | €26,616 | €51,080 | +€24,464 | +91.9% |
| Financial charges | 65/66B | €14,457 | €11,067 | -€3,390 | -23.4% |
| Recurring financial charges | 65 | €12,984 | €11,024 | -€1,961 | -15.1% |
| Non-recurring financial charges | 66B | €1,473 | €43 | -€1,429 | -97.1% |
| Profit (loss) for the period before taxes | 9903 | €12,159 | €40,014 | +€27,854 | +229.1% |
| Income taxes | 67/77 | €5,079 | €8,145 | +€3,066 | +60.4% |
| Profit (loss) for the period | 9904 | €7,080 | €31,868 | +€24,788 | +350.1% |
| Profit (loss) for the period to be appropriated | 9905 | €7,080 | €31,868 | +€24,788 | +350.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.