VANWES: 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.
VANWES
Largest movements
- Stocks and contracts +€36,585
up €36,585 (+162.1%), from €22,570 to €59,154
- Tangible fixed assets -€21,816
down €21,816 (-82.2%), from €26,551 to €4,736
of which Plant, machinery and equipment: -€11,240
- Cash +€8,067
up €8,067 (+11.1%), from €72,907 to €80,974
mainly Other debts (+€40,952) and Depreciation (+€23,882)
- Receivables within one year +€2,399
up €2,399 (+12.5%), from €19,197 to €21,596
of which Trade receivables: +€2,377
- Other debts +€40,952
up €40,952 (+47.9%), from €85,519 to €126,470
- Profit (loss) carried forward -€27,858
down €27,858 (-26.3%), from -€106,122 to -€133,980
- Trade debts +€11,887
new in 2025: €11,887
- Gross operating margin +€22,645
up €22,645 (+88.0%), from -€25,727 to -€3,083
- Depreciation -€15,399
down €15,399 (-39.2%), from €39,281 to €23,882
- Other operating charges +€601
up €601 (+174.9%), from €344 to €945
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 | €142,015 | €166,996 | +€24,981 | +17.6% |
| Fixed assets | 21/28 | €26,956 | €5,006 | -€21,951 | -81.4% |
| Tangible fixed assets | 22/27 | €26,551 | €4,736 | -€21,816 | -82.2% |
| Land and buildings | 22 | €312 | €297 | -€14 | -4.5% |
| Plant, machinery and equipment | 23 | €13,448 | €2,209 | -€11,240 | -83.6% |
| Furniture and vehicles | 24 | €12,712 | €2,230 | -€10,483 | -82.5% |
| Other tangible fixed assets | 26 | €79 | €0 | -€79 | -100.0% |
| Financial fixed assets | 28 | €405 | €270 | -€135 | -33.3% |
| Current assets | 29/58 | €115,059 | €161,991 | +€46,932 | +40.8% |
| Stocks and contracts in progress | 3 | €22,570 | €59,154 | +€36,585 | +162.1% |
| Stocks | 30/36 | €22,570 | €59,154 | +€36,585 | +162.1% |
| Amounts receivable within one year | 40/41 | €19,197 | €21,596 | +€2,399 | +12.5% |
| Trade receivables | 40 | €18,431 | €20,808 | +€2,377 | +12.9% |
| Other amounts receivable | 41 | €766 | €788 | +€22 | +2.8% |
| Cash at bank and in hand | 54/58 | €72,907 | €80,974 | +€8,067 | +11.1% |
| Deferred charges and accrued income | 490/1 | €385 | €266 | -€119 | -30.9% |
| Total equity and liabilities | 10/49 | €142,015 | €166,996 | +€24,981 | +17.6% |
| Equity | 10/15 | €55,245 | €27,387 | -€27,858 | -50.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €142,767 | €142,767 | = | 0.0% |
| 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 | €140,907 | €140,907 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€106,122 | -€133,980 | -€27,858 | -26.3% |
| Amounts payable | 17/49 | €86,770 | €139,609 | +€52,839 | +60.9% |
| Amounts payable within one year | 42/48 | €86,770 | €139,609 | +€52,839 | +60.9% |
| Trade debts | 44 | - | €11,887 | +€11,887 | |
| Suppliers | 440/4 | - | €11,887 | +€11,887 | |
| Taxes, remuneration and social security | 45 | €1,251 | €1,251 | = | 0.0% |
| Taxes | 450/3 | €1,251 | €1,251 | = | 0.0% |
| Other amounts payable | 47/48 | €85,519 | €126,470 | +€40,952 | +47.9% |
| Remuneration, social security and pensions | 62 | - | €185 | +€185 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,281 | €23,882 | -€15,399 | -39.2% |
| Other operating charges | 640/8 | €344 | €945 | +€601 | +174.9% |
| Gross operating margin | 9900 | -€25,727 | -€3,083 | +€22,645 | +88.0% |
| Operating profit (loss) | 9901 | -€65,352 | -€28,094 | +€37,258 | +57.0% |
| Financial income | 75/76B | €339 | €486 | +€147 | +43.4% |
| Recurring financial income | 75 | €339 | €486 | +€147 | +43.4% |
| Financial charges | 65/66B | €128 | €250 | +€122 | +95.0% |
| Recurring financial charges | 65 | €128 | €250 | +€122 | +95.0% |
| Profit (loss) for the period before taxes | 9903 | -€65,141 | -€27,858 | +€37,283 | +57.2% |
| Income taxes | 67/77 | €102 | €0 | -€102 | -100.0% |
| Profit (loss) for the period | 9904 | -€65,243 | -€27,858 | +€37,385 | +57.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€65,243 | -€27,858 | +€37,385 | +57.3% |
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 9 October 2026 via checked.be.