VANVER: 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.
What changed
VANVER
NACE 16.281, Manufacture of other wood products
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€74,110
2024 · €105,632-€31,522
Equity
€1.1m
2024 · €1.0m+€74,110
Cash
€84,261
2024 · €126,819-€42,558
Balance sheet total
€4.9m
2024 · €6.2m-€1.3m
Largest movements
Assets
- Receivables within one year -€1.1m
down €1.1m (-40.9%), from €2.8m to €1.6m
of which Trade receivables: -€1.0m
- Tangible fixed assets -€76,051
down €76,051 (-9.1%), from €833,252 to €757,201
Equity and liabilities
- Trade debts -€1.2m
down €1.2m (-56.5%), from €2.2m to €951,299
- Debts after one year -€223,796
down €223,796 (-29.7%), from €754,504 to €530,708
of which Financial debts: -€151,646
- Accrued charges and deferred income +€84,174
new in 2025: €84,174
- Reserves +€74,110
up €74,110 (+10.9%), from €681,302 to €755,412
of which Distributable reserves: +€74,110
Income statement
- Staff costs -€73,103
down €73,103 (-4.4%), from €1.6m to €1.6m
- Gross operating margin -€70,944
down €70,944 (-3.4%), from €2.1m to €2.0m
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
€105,632
Gross operating margin
-€70,944
Staff costs
+€73,103
Depreciation
-€6,540
Other operating charges
-€5,000
Financial income
-€2,286
Financial charges
-€5,871
Taxes
-€13,984
Result 2025
€74,110
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.
From operations
+€212,933
Investment
-€43,439
Financing
-€212,053
Cash 2024
€126,819
From operations (derived)
+€212,933
Net result for the year
+€74,110
Depreciation
+€121,348
Stocks and contracts
+€35,036
Receivables within one year
+€1.1m
Deferred charges and accrued income
-€3,531
Trade debts
-€1.2m
Tax, wage and social debts
+€484
Accrued charges and deferred income
+€84,174
Investment (derived)
-€43,439
Investment in fixed assets (net)
-€43,439
Financing
-€212,053
Debts after one year
-€223,796
Current portion of long-term debt
-€8,621
Short-term financial debts
+€20,364
Cash 2025
€84,261
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,167,212 | €4,876,444 | -€1.3m | -20.9% |
| Formation expenses | 20 | €11,153 | €9,294 | -€1,859 | -16.7% |
| Fixed assets | 21/28 | €833,252 | €757,201 | -€76,051 | -9.1% |
| Tangible fixed assets | 22/27 | €833,252 | €757,201 | -€76,051 | -9.1% |
| Land and buildings | 22 | €223,258 | €201,812 | -€21,446 | -9.6% |
| Plant, machinery and equipment | 23 | €44,660 | €9,533 | -€35,127 | -78.7% |
| Furniture and vehicles | 24 | €14,360 | €8,189 | -€6,171 | -43.0% |
| Leasing and similar rights | 25 | €550,974 | €537,668 | -€13,306 | -2.4% |
| Current assets | 29/58 | €5,322,807 | €4,109,948 | -€1.2m | -22.8% |
| Stocks and contracts in progress | 3 | €2,408,176 | €2,373,140 | -€35,036 | -1.5% |
| Stocks | 30/36 | €699,325 | €677,790 | -€21,535 | -3.1% |
| Contracts in progress | 37 | €1,708,851 | €1,695,350 | -€13,501 | -0.8% |
| Amounts receivable within one year | 40/41 | €2,785,342 | €1,646,547 | -€1.1m | -40.9% |
| Trade receivables | 40 | €2,402,416 | €1,391,334 | -€1.0m | -42.1% |
| Other amounts receivable | 41 | €382,927 | €255,213 | -€127,713 | -33.4% |
| Cash at bank and in hand | 54/58 | €126,819 | €84,261 | -€42,558 | -33.6% |
| Deferred charges and accrued income | 490/1 | €2,469 | €6,000 | +€3,531 | +143.0% |
| Total equity and liabilities | 10/49 | €6,167,212 | €4,876,444 | -€1.3m | -20.9% |
| Equity | 10/15 | €1,001,302 | €1,075,412 | +€74,110 | +7.4% |
| Contributions | 10/11 | €320,000 | €320,000 | = | 0.0% |
| Capital | 10 | €320,000 | €320,000 | = | 0.0% |
| Issued capital | 100 | €320,000 | €320,000 | = | 0.0% |
| Reserves | 13 | €681,302 | €755,412 | +€74,110 | +10.9% |
| Non-distributable reserves | 130/1 | €32,000 | €32,000 | = | 0.0% |
| Legal reserve | 130 | €32,000 | €32,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €26,455 | €26,455 | = | 0.0% |
| Distributable reserves | 133 | €622,847 | €696,958 | +€74,110 | +11.9% |
| Amounts payable | 17/49 | €5,165,910 | €3,801,031 | -€1.4m | -26.4% |
| Amounts payable after more than one year | 17 | €754,504 | €530,708 | -€223,796 | -29.7% |
| Financial debts | 170/4 | €587,718 | €436,072 | -€151,646 | -25.8% |
| Other amounts payable | 178/9 | €166,786 | €94,636 | -€72,149 | -43.3% |
| Amounts payable within one year | 42/48 | €4,411,406 | €3,186,149 | -€1.2m | -27.8% |
| Current portion of amounts payable after more than one year | 42 | €197,848 | €189,227 | -€8,621 | -4.4% |
| Financial debts | 43 | €2,010,184 | €2,030,548 | +€20,364 | +1.0% |
| Credit institutions | 430/8 | €2,010,184 | €2,030,548 | +€20,364 | +1.0% |
| Trade debts | 44 | €2,188,783 | €951,299 | -€1.2m | -56.5% |
| Suppliers | 440/4 | €2,188,783 | €951,299 | -€1.2m | -56.5% |
| Taxes, remuneration and social security | 45 | €967 | €1,451 | +€484 | +50.0% |
| Taxes | 450/3 | €967 | €1,451 | +€484 | +50.0% |
| Other amounts payable | 47/48 | €13,623 | €13,623 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €84,174 | +€84,174 | |
| Remuneration, social security and pensions | 62 | €1,649,618 | €1,576,516 | -€73,103 | -4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €114,808 | €121,348 | +€6,540 | +5.7% |
| Other operating charges | 640/8 | €27,200 | €32,200 | +€5,000 | +18.4% |
| Gross operating margin | 9900 | €2,098,447 | €2,027,503 | -€70,944 | -3.4% |
| Operating profit (loss) | 9901 | €306,820 | €297,439 | -€9,381 | -3.1% |
| Financial income | 75/76B | €8,252 | €5,966 | -€2,286 | -27.7% |
| Recurring financial income | 75 | €8,252 | €5,966 | -€2,286 | -27.7% |
| Financial charges | 65/66B | €208,139 | €214,010 | +€5,871 | +2.8% |
| Recurring financial charges | 65 | €208,139 | €214,010 | +€5,871 | +2.8% |
| Profit (loss) for the period before taxes | 9903 | €106,934 | €89,396 | -€17,538 | -16.4% |
| Income taxes | 67/77 | €1,302 | €15,286 | +€13,984 | +1074.0% |
| Profit (loss) for the period | 9904 | €105,632 | €74,110 | -€31,522 | -29.8% |
| Profit (loss) for the period to be appropriated | 9905 | €105,632 | €74,110 | -€31,522 | -29.8% |
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 1 October 2026 via checked.be.