VANWERS VINCENT: 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.
VANWERS VINCENT
Largest movements
- Cash -€31,185
down €31,185 (-46.0%), from €67,797 to €36,612
mainly Other debts (-€64,200) and Investment in fixed assets (net) (-€44,931)
- Receivables within one year +€27,764
up €27,764 (+47.3%), from €58,751 to €86,515
of which Trade receivables: +€24,804
- Stocks and contracts -€20,547
down €20,547 (-20.2%), from €101,918 to €81,371
- Current investments -€17,995
down €17,995 (-48.4%), from €37,177 to €19,182
- Other debts -€64,200
no longer reported in 2025 (was €64,200)
- Debts after one year +€49,106
up €49,106 (+46.4%), from €105,926 to €155,032
of which Other amounts payable: +€44,336
- Trade debts -€34,339
down €34,339 (-55.9%), from €61,439 to €27,099
- Current portion of long-term debt +€7,237
up €7,237 (+36.7%), from €19,725 to €26,961
- Gross operating margin -€13,878
down €13,878 (-6.3%), from €219,654 to €205,776
- Depreciation +€4,267
up €4,267 (+10.2%), from €41,794 to €46,062
- Staff costs -€3,646
down €3,646 (-2.3%), from €156,450 to €152,804
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 | €442,333 | €400,993 | -€41,340 | -9.3% |
| Fixed assets | 21/28 | €162,985 | €161,854 | -€1,131 | -0.7% |
| Tangible fixed assets | 22/27 | €162,611 | €161,480 | -€1,131 | -0.7% |
| Plant, machinery and equipment | 23 | €6,931 | €3,006 | -€3,925 | -56.6% |
| Furniture and vehicles | 24 | €144,474 | €145,146 | +€672 | +0.5% |
| Other tangible fixed assets | 26 | €11,205 | €13,327 | +€2,122 | +18.9% |
| Financial fixed assets | 28 | €374 | €374 | = | 0.0% |
| Current assets | 29/58 | €279,349 | €239,140 | -€40,209 | -14.4% |
| Stocks and contracts in progress | 3 | €101,918 | €81,371 | -€20,547 | -20.2% |
| Stocks | 30/36 | €101,918 | €81,371 | -€20,547 | -20.2% |
| Amounts receivable within one year | 40/41 | €58,751 | €86,515 | +€27,764 | +47.3% |
| Trade receivables | 40 | €47,014 | €71,818 | +€24,804 | +52.8% |
| Other amounts receivable | 41 | €11,736 | €14,697 | +€2,961 | +25.2% |
| Current investments | 50/53 | €37,177 | €19,182 | -€17,995 | -48.4% |
| Cash at bank and in hand | 54/58 | €67,797 | €36,612 | -€31,185 | -46.0% |
| Deferred charges and accrued income | 490/1 | €13,705 | €15,459 | +€1,754 | +12.8% |
| Total equity and liabilities | 10/49 | €442,333 | €400,993 | -€41,340 | -9.3% |
| Equity | 10/15 | €174,179 | €171,926 | -€2,253 | -1.3% |
| Contributions | 10/11 | €14,260 | €14,260 | = | 0.0% |
| Reserves | 13 | €146,000 | €143,700 | -€2,300 | -1.6% |
| Tax-exempt reserves | 132 | €42,100 | - | -€42,100 | |
| Distributable reserves | 133 | €103,900 | €143,700 | +€39,800 | +38.3% |
| Profit (loss) carried forward | 14 | €13,919 | €13,966 | +€47 | +0.3% |
| Amounts payable | 17/49 | €268,154 | €229,067 | -€39,087 | -14.6% |
| Amounts payable after more than one year | 17 | €105,926 | €155,032 | +€49,106 | +46.4% |
| Financial debts | 170/4 | €45,189 | €49,959 | +€4,770 | +10.6% |
| Other amounts payable | 178/9 | €60,737 | €105,073 | +€44,336 | +73.0% |
| Amounts payable within one year | 42/48 | €161,825 | €74,036 | -€87,789 | -54.2% |
| Current portion of amounts payable after more than one year | 42 | €19,725 | €26,961 | +€7,237 | +36.7% |
| Trade debts | 44 | €61,439 | €27,099 | -€34,339 | -55.9% |
| Suppliers | 440/4 | €61,439 | €27,099 | -€34,339 | -55.9% |
| Taxes, remuneration and social security | 45 | €16,461 | €19,975 | +€3,514 | +21.3% |
| Taxes | 450/3 | €814 | €2,568 | +€1,754 | +215% |
| Remuneration and social security | 454/9 | €15,647 | €17,406 | +€1,760 | +11.2% |
| Other amounts payable | 47/48 | €64,200 | - | -€64,200 | |
| Accrued charges and deferred income | 492/3 | €404 | - | -€404 | |
| Remuneration, social security and pensions | 62 | €156,450 | €152,804 | -€3,646 | -2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,794 | €46,062 | +€4,267 | +10.2% |
| Other operating charges | 640/8 | €2,566 | €1,883 | -€682 | -26.6% |
| Gross operating margin | 9900 | €219,654 | €205,776 | -€13,878 | -6.3% |
| Operating profit (loss) | 9901 | €18,844 | €5,027 | -€13,816 | -73.3% |
| Financial income | 75/76B | €3,906 | €4,005 | +€99 | +2.5% |
| Recurring financial income | 75 | €3,906 | €4,005 | +€99 | +2.5% |
| Financial charges | 65/66B | €5,237 | €5,437 | +€199 | +3.8% |
| Recurring financial charges | 65 | €5,237 | €5,437 | +€199 | +3.8% |
| Profit (loss) for the period before taxes | 9903 | €17,512 | €3,595 | -€13,917 | -79.5% |
| Income taxes | 67/77 | €5,732 | €5,849 | +€117 | +2.0% |
| Profit (loss) for the period | 9904 | €11,780 | -€2,253 | -€14,034 | |
| Transfer from tax-exempt reserves | 789 | - | €42,100 | +€42,100 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,780 | €39,847 | +€28,066 | +238% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.