VANWEVE: 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.
VANWEVE
Largest movements
- Tangible fixed assets -€25,765
down €25,765 (-6.4%), from €403,285 to €377,520
of which Land and buildings: -€25,795
- Cash -€17,235
down €17,235 (-95.4%), from €18,072 to €837
mainly Tax, wage and social debts (-€22,363) and Debts after one year (-€21,318)
- Current investments +€10,000
new in 2025: €10,000
- Stocks and contracts +€6,677
up €6,677 (+15.8%), from €42,156 to €48,834
- Other debts +€24,401
up €24,401 (+98.6%), from €24,747 to €49,148
- Tax, wage and social debts -€22,363
down €22,363 (-53.9%), from €41,462 to €19,099
of which Remuneration and social security: -€12,509
- Debts after one year -€21,318
down €21,318 (-8.4%), from €252,841 to €231,523
- Trade debts -€10,219
down €10,219 (-34.2%), from €29,916 to €19,697
- Gross operating margin -€35,195
down €35,195 (-15.8%), from €223,069 to €187,874
- Staff costs -€28,141
down €28,141 (-18.5%), from €152,028 to €123,887
- Depreciation -€10,594
down €10,594 (-20.8%), from €50,879 to €40,285
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 | €468,878 | €443,783 | -€25,095 | -5.4% |
| Fixed assets | 21/28 | €403,285 | €377,520 | -€25,765 | -6.4% |
| Tangible fixed assets | 22/27 | €403,285 | €377,520 | -€25,765 | -6.4% |
| Land and buildings | 22 | €371,975 | €346,180 | -€25,795 | -6.9% |
| Plant, machinery and equipment | 23 | €10,128 | €14,131 | +€4,003 | +39.5% |
| Furniture and vehicles | 24 | €21,181 | €17,209 | -€3,973 | -18.8% |
| Current assets | 29/58 | €65,593 | €66,264 | +€670 | +1.0% |
| Stocks and contracts in progress | 3 | €42,156 | €48,834 | +€6,677 | +15.8% |
| Stocks | 30/36 | €42,156 | €48,834 | +€6,677 | +15.8% |
| Amounts receivable within one year | 40/41 | €4,923 | €4,490 | -€434 | -8.8% |
| Trade receivables | 40 | €4,393 | €4,490 | +€96 | +2.2% |
| Other amounts receivable | 41 | €530 | - | -€530 | |
| Current investments | 50/53 | - | €10,000 | +€10,000 | |
| Cash at bank and in hand | 54/58 | €18,072 | €837 | -€17,235 | -95.4% |
| Deferred charges and accrued income | 490/1 | €442 | €2,103 | +€1,661 | +375.6% |
| Total equity and liabilities | 10/49 | €468,878 | €443,783 | -€25,095 | -5.4% |
| Equity | 10/15 | €87,086 | €91,455 | +€4,369 | +5.0% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €57,086 | €61,455 | +€4,369 | +7.7% |
| Distributable reserves | 133 | €57,086 | €61,455 | +€4,369 | +7.7% |
| Amounts payable | 17/49 | €381,792 | €352,329 | -€29,464 | -7.7% |
| Amounts payable after more than one year | 17 | €252,841 | €231,523 | -€21,318 | -8.4% |
| Financial debts | 170/4 | €252,841 | €231,523 | -€21,318 | -8.4% |
| Amounts payable within one year | 42/48 | €128,952 | €120,806 | -€8,146 | -6.3% |
| Current portion of amounts payable after more than one year | 42 | €30,643 | €30,862 | +€219 | +0.7% |
| Trade debts | 44 | €29,916 | €19,697 | -€10,219 | -34.2% |
| Suppliers | 440/4 | €29,916 | €19,697 | -€10,219 | -34.2% |
| Advances received on contracts in progress | 46 | €2,184 | €2,000 | -€184 | -8.4% |
| Taxes, remuneration and social security | 45 | €41,462 | €19,099 | -€22,363 | -53.9% |
| Taxes | 450/3 | €20,692 | €10,838 | -€9,854 | -47.6% |
| Remuneration and social security | 454/9 | €20,771 | €8,261 | -€12,509 | -60.2% |
| Other amounts payable | 47/48 | €24,747 | €49,148 | +€24,401 | +98.6% |
| Non-recurring operating income | 76A | €4,322 | €191 | -€4,130 | -95.6% |
| Remuneration, social security and pensions | 62 | €152,028 | €123,887 | -€28,141 | -18.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,879 | €40,285 | -€10,594 | -20.8% |
| Other operating charges | 640/8 | €4,610 | €4,404 | -€206 | -4.5% |
| Gross operating margin | 9900 | €223,069 | €187,874 | -€35,195 | -15.8% |
| Operating profit (loss) | 9901 | €15,552 | €19,298 | +€3,746 | +24.1% |
| Financial income | 75/76B | €11 | €23 | +€13 | +117.9% |
| Recurring financial income | 75 | €11 | €23 | +€13 | +117.9% |
| Financial charges | 65/66B | €12,390 | €12,899 | +€509 | +4.1% |
| Recurring financial charges | 65 | €12,390 | €12,899 | +€509 | +4.1% |
| Profit (loss) for the period before taxes | 9903 | €3,173 | €6,423 | +€3,249 | +102.4% |
| Income taxes | 67/77 | €706 | €2,054 | +€1,348 | +191.0% |
| Profit (loss) for the period | 9904 | €2,468 | €4,369 | +€1,901 | +77.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,468 | €4,369 | +€1,901 | +77.0% |
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 5 October 2026 via checked.be.