VANVUCHELEN & Co: 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.
VANVUCHELEN & Co
Largest movements
- Financial fixed assets -€897,292
down €897,292 (-65.7%), from €1.4m to €468,085
- Cash +€586,477
up €586,477 (+216%), from €270,999 to €857,475
mainly Investment in fixed assets (net) (+€897,292) and Current investments (+€419,950)
- Current investments -€419,950
down €419,950 (-2.5%), from €16.7m to €16.2m
- Reserves -€803,919
down €803,919 (-6.1%), from €13.2m to €12.4m
of which Distributable reserves: -€803,919
- Financial charges +€768,984
up €768,984 (+185%), from €415,698 to €1.2m
of which Non-recurring financial charges: +€897,242
- Financial income -€28,444
down €28,444 (-5.6%), from €508,667 to €480,222
of which Financial income: -€28,444
- Gross operating margin +€11,495
up €11,495 (+52.4%), from -€21,958 to -€10,462
- Depreciation -€7,014
down €7,014 (-14.9%), from €47,178 to €40,164
- Taxes +€826
up €826 (+4.8%), from €17,223 to €18,049
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.
Derived cash bridge
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 | €19,051,681 | €18,280,631 | -€771,050 | -4.0% |
| Fixed assets | 21/28 | €2,086,620 | €1,149,164 | -€937,456 | -44.9% |
| Tangible fixed assets | 22/27 | €721,243 | €681,079 | -€40,164 | -5.6% |
| Land and buildings | 22 | €657,067 | €642,075 | -€14,993 | -2.3% |
| Furniture and vehicles | 24 | €63,884 | €39,004 | -€24,880 | -38.9% |
| Other tangible fixed assets | 26 | €292 | €0 | -€292 | -100% |
| Financial fixed assets | 28 | €1,365,377 | €468,085 | -€897,292 | -65.7% |
| Current assets | 29/58 | €16,965,061 | €17,131,467 | +€166,406 | +1.0% |
| Amounts receivable within one year | 40/41 | €31,744 | €32,782 | +€1,037 | +3.3% |
| Other amounts receivable | 41 | €31,744 | €32,782 | +€1,037 | +3.3% |
| Current investments | 50/53 | €16,661,160 | €16,241,210 | -€419,950 | -2.5% |
| Cash at bank and in hand | 54/58 | €270,999 | €857,475 | +€586,477 | +216% |
| Deferred charges and accrued income | 490/1 | €1,158 | €0 | -€1,158 | -100% |
| Total equity and liabilities | 10/49 | €19,051,681 | €18,280,631 | -€771,050 | -4.0% |
| Equity | 10/15 | €16,861,893 | €16,057,974 | -€803,919 | -4.8% |
| Contributions | 10/11 | €3,612,915 | €3,612,915 | = | 0.0% |
| Capital | 10 | €3,600,000 | €3,600,000 | = | 0.0% |
| Issued capital | 100 | €3,600,000 | €3,600,000 | = | 0.0% |
| Contributions outside capital | 11 | €12,915 | €12,915 | = | 0.0% |
| Share premium | 1100/10 | €12,915 | €12,915 | = | 0.0% |
| Reserves | 13 | €13,248,978 | €12,445,059 | -€803,919 | -6.1% |
| Non-distributable reserves | 130/1 | €360,000 | €360,000 | = | 0.0% |
| Legal reserve | 130 | €360,000 | €360,000 | = | 0.0% |
| Distributable reserves | 133 | €12,888,978 | €12,085,059 | -€803,919 | -6.2% |
| Amounts payable | 17/49 | €2,189,788 | €2,222,656 | +€32,868 | +1.5% |
| Amounts payable after more than one year | 17 | €1,971,840 | €1,950,590 | -€21,250 | -1.1% |
| Financial debts | 170/4 | €1,971,840 | €1,950,590 | -€21,250 | -1.1% |
| Amounts payable within one year | 42/48 | €51,553 | €110,621 | +€59,068 | +115% |
| Current portion of amounts payable after more than one year | 42 | €21,250 | €21,250 | = | 0.0% |
| Trade debts | 44 | €2,913 | €372 | -€2,542 | -87.2% |
| Suppliers | 440/4 | €2,913 | €372 | -€2,542 | -87.2% |
| Other amounts payable | 47/48 | €27,389 | €88,999 | +€61,610 | +225% |
| Accrued charges and deferred income | 492/3 | €166,395 | €161,445 | -€4,950 | -3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,178 | €40,164 | -€7,014 | -14.9% |
| Other operating charges | 640/8 | €30,417 | €30,784 | +€366 | +1.2% |
| Gross operating margin | 9900 | -€21,958 | -€10,462 | +€11,495 | +52.4% |
| Operating profit (loss) | 9901 | -€99,553 | -€81,410 | +€18,143 | +18.2% |
| Financial income | 75/76B | €508,667 | €480,222 | -€28,444 | -5.6% |
| Recurring financial income | 75 | €508,667 | €480,222 | -€28,444 | -5.6% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €415,698 | €1,184,682 | +€768,984 | +185% |
| Recurring financial charges | 65 | €415,698 | €287,440 | -€128,258 | -30.9% |
| Non-recurring financial charges | 66B | - | €897,242 | +€897,242 | |
| Profit (loss) for the period before taxes | 9903 | -€6,584 | -€785,870 | -€779,286 | -11,836% |
| Income taxes | 67/77 | €17,223 | €18,049 | +€826 | +4.8% |
| Profit (loss) for the period | 9904 | -€23,808 | -€803,919 | -€780,111 | -3,277% |
| Profit (loss) for the period to be appropriated | 9905 | -€23,808 | -€803,919 | -€780,111 | -3,277% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.