VANTAGE: 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.
VANTAGE
Largest movements
- Tangible fixed assets -€136,615
down €136,615 (-4.0%), from €3.5m to €3.3m
of which Land and buildings: -€135,965
- Debts after one year -€211,263
down €211,263 (-9.7%), from €2.2m to €2.0m
- Other debts +€100,000
up €100,000 (+25.4%), from €393,258 to €493,258
- Current portion of long-term debt -€54,751
down €54,751 (-20.6%), from €266,014 to €211,263
- Profit (loss) carried forward +€43,423
up €43,423 (+42.7%), from €101,619 to €145,041
- Purchases and services +€24,679
up €24,679 (+123%), from €20,124 to €44,803
- Gross operating margin -€24,679
down €24,679 (-8.6%), from €285,876 to €261,197
- Other operating charges +€5,845
up €5,845 (+32.2%), from €18,146 to €23,991
- Financial charges -€5,125
down €5,125 (-9.4%), from €54,336 to €49,211
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,490,217 | €3,339,146 | -€151,071 | -4.3% |
| Fixed assets | 21/28 | €3,457,622 | €3,321,008 | -€136,615 | -4.0% |
| Tangible fixed assets | 22/27 | €3,457,622 | €3,321,008 | -€136,615 | -4.0% |
| Land and buildings | 22 | €3,455,239 | €3,319,274 | -€135,965 | -3.9% |
| Plant, machinery and equipment | 23 | €2,384 | €1,734 | -€650 | -27.3% |
| Current assets | 29/58 | €32,594 | €18,138 | -€14,456 | -44.4% |
| Amounts receivable within one year | 40/41 | €11,366 | €5,574 | -€5,792 | -51.0% |
| Other amounts receivable | 41 | €11,366 | €5,574 | -€5,792 | -51.0% |
| Cash at bank and in hand | 54/58 | €21,228 | €12,564 | -€8,664 | -40.8% |
| Total equity and liabilities | 10/49 | €3,490,217 | €3,339,146 | -€151,071 | -4.3% |
| Equity | 10/15 | €529,378 | €560,960 | +€31,583 | +6.0% |
| Contributions | 10/11 | €31,000 | €31,000 | = | 0.0% |
| Reserves | 13 | €396,759 | €384,919 | -€11,840 | -3.0% |
| Non-distributable reserves | 130/1 | €3,100 | €3,100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,100 | €3,100 | = | 0.0% |
| Tax-exempt reserves | 132 | €290,108 | €278,268 | -€11,840 | -4.1% |
| Distributable reserves | 133 | €103,551 | €103,551 | = | 0.0% |
| Profit (loss) carried forward | 14 | €101,619 | €145,041 | +€43,423 | +42.7% |
| Provisions and deferred taxes | 16 | €96,703 | €92,756 | -€3,947 | -4.1% |
| Deferred taxes | 168 | €96,703 | €92,756 | -€3,947 | -4.1% |
| Amounts payable | 17/49 | €2,864,136 | €2,685,429 | -€178,707 | -6.2% |
| Amounts payable after more than one year | 17 | €2,184,834 | €1,973,571 | -€211,263 | -9.7% |
| Financial debts | 170/4 | €2,184,834 | €1,973,571 | -€211,263 | -9.7% |
| Amounts payable within one year | 42/48 | €666,891 | €709,521 | +€42,630 | +6.4% |
| Current portion of amounts payable after more than one year | 42 | €266,014 | €211,263 | -€54,751 | -20.6% |
| Trade debts | 44 | €7,619 | €0 | -€7,619 | -100% |
| Suppliers | 440/4 | €7,619 | €0 | -€7,619 | -100% |
| Advances received on contracts in progress | 46 | - | €5,000 | +€5,000 | |
| Other amounts payable | 47/48 | €393,258 | €493,258 | +€100,000 | +25.4% |
| Accrued charges and deferred income | 492/3 | €12,412 | €2,338 | -€10,074 | -81.2% |
| Turnover | 70 | €306,000 | €306,000 | = | 0.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €20,124 | €44,803 | +€24,679 | +123% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €143,433 | €145,469 | +€2,035 | +1.4% |
| Other operating charges | 640/8 | €18,146 | €23,991 | +€5,845 | +32.2% |
| Gross operating margin | 9900 | €285,876 | €261,197 | -€24,679 | -8.6% |
| Operating profit (loss) | 9901 | €124,297 | €91,737 | -€32,559 | -26.2% |
| Financial charges | 65/66B | €54,336 | €49,211 | -€5,125 | -9.4% |
| Recurring financial charges | 65 | €54,336 | €49,211 | -€5,125 | -9.4% |
| Profit (loss) for the period before taxes | 9903 | €69,961 | €42,526 | -€27,435 | -39.2% |
| Transfer from deferred taxes | 780 | €3,947 | €3,947 | = | 0.0% |
| Income taxes | 67/77 | €12,940 | €14,890 | +€1,950 | +15.1% |
| Profit (loss) for the period | 9904 | €60,967 | €31,583 | -€29,384 | -48.2% |
| Transfer from tax-exempt reserves | 789 | €11,840 | €11,840 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €72,807 | €43,423 | -€29,384 | -40.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.