VANBO: 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.
VANBO
Largest movements
- Cash +€34,514
up €34,514 (+83.7%), from €41,228 to €75,741
mainly Net result for the year (+€19,970) and Receivables within one year (+€14,902)
- Receivables within one year -€14,902
down €14,902 (-53.5%), from €27,851 to €12,949
of which Trade receivables: -€9,633
- Tangible fixed assets -€5,548
down €5,548 (-46.3%), from €11,984 to €6,436
- Profit (loss) carried forward +€19,970
up €19,970 (+48.1%), from -€41,525 to -€21,555
- Other debts -€12,501
down €12,501 (-20.4%), from €61,208 to €48,707
- Tax, wage and social debts +€4,827
up €4,827 (+58.8%), from €8,209 to €13,036
of which Taxes: +€8,105
- Gross operating margin +€20,473
up €20,473 (+27.1%), from €75,674 to €96,147
- Staff costs +€8,468
up €8,468 (+15.6%), from €54,173 to €62,641
- Taxes +€6,030
new in 2025: €6,030
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 | €193,483 | €207,546 | +€14,064 | +7.3% |
| Fixed assets | 21/28 | €27,604 | €22,056 | -€5,548 | -20.1% |
| Tangible fixed assets | 22/27 | €11,984 | €6,436 | -€5,548 | -46.3% |
| Furniture and vehicles | 24 | €11,984 | €6,436 | -€5,548 | -46.3% |
| Financial fixed assets | 28 | €15,620 | €15,620 | = | 0.0% |
| Current assets | 29/58 | €165,879 | €185,490 | +€19,611 | +11.8% |
| Amounts receivable after more than one year | 29 | €96,800 | €96,800 | = | 0.0% |
| Other amounts receivable | 291 | €96,800 | €96,800 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €27,851 | €12,949 | -€14,902 | -53.5% |
| Trade receivables | 40 | €9,633 | - | -€9,633 | |
| Other amounts receivable | 41 | €18,218 | €12,949 | -€5,269 | -28.9% |
| Cash at bank and in hand | 54/58 | €41,228 | €75,741 | +€34,514 | +83.7% |
| Total equity and liabilities | 10/49 | €193,483 | €207,546 | +€14,064 | +7.3% |
| Equity | 10/15 | €123,333 | €143,303 | +€19,970 | +16.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €158,658 | €158,658 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €156,799 | €156,799 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€41,525 | -€21,555 | +€19,970 | +48.1% |
| Amounts payable | 17/49 | €70,149 | €64,243 | -€5,906 | -8.4% |
| Amounts payable within one year | 42/48 | €70,149 | €64,243 | -€5,906 | -8.4% |
| Trade debts | 44 | €733 | €2,501 | +€1,768 | +241% |
| Suppliers | 440/4 | €733 | €2,501 | +€1,768 | +241% |
| Taxes, remuneration and social security | 45 | €8,209 | €13,036 | +€4,827 | +58.8% |
| Taxes | 450/3 | €1,330 | €9,435 | +€8,105 | +609% |
| Remuneration and social security | 454/9 | €6,879 | €3,601 | -€3,278 | -47.7% |
| Other amounts payable | 47/48 | €61,208 | €48,707 | -€12,501 | -20.4% |
| Remuneration, social security and pensions | 62 | €54,173 | €62,641 | +€8,468 | +15.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,449 | €5,548 | +€99 | +1.8% |
| Other operating charges | 640/8 | €1,140 | €1,324 | +€184 | +16.1% |
| Gross operating margin | 9900 | €75,674 | €96,147 | +€20,473 | +27.1% |
| Operating profit (loss) | 9901 | €14,912 | €26,634 | +€11,722 | +78.6% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €820 | €634 | -€185 | -22.6% |
| Recurring financial charges | 65 | €820 | €634 | -€185 | -22.6% |
| Profit (loss) for the period before taxes | 9903 | €14,092 | €26,000 | +€11,907 | +84.5% |
| Income taxes | 67/77 | - | €6,030 | +€6,030 | |
| Profit (loss) for the period | 9904 | €14,092 | €19,970 | +€5,877 | +41.7% |
| Profit (loss) for the period to be appropriated | 9905 | €14,092 | €19,970 | +€5,877 | +41.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.