VANTAGE: what changed
VANTAGE
Largest movements
- Deferred charges and accrued income +€145
up €145 (+135%), from €107 to €252
- Stocks and contracts -€128
down €128 (-14.2%), from €901 to €773
- Cash +€81
up €81 (+12.4%), from €652 to €733
mainly Other debts (+€4,844) and Trade debts (+€196)
- Profit (loss) carried forward -€5,130
down €5,130 (-3.4%), from -€152,756 to -€157,885
- Other debts +€4,844
up €4,844 (+3.5%), from €139,205 to €144,049
- Trade debts +€196
up €196 (+33.7%), from €582 to €778
- Tax, wage and social debts +€188
up €188 (+28.1%), from €667 to €854
- Gross operating margin +€2,600
up €2,600 (+38.2%), from -€6,800 to -€4,200
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,660 | €1,758 | +€98 | +5.9% |
| Current assets | 29/58 | €1,660 | €1,758 | +€98 | +5.9% |
| Stocks and contracts in progress | 3 | €901 | €773 | -€128 | -14.2% |
| Stocks | 30/36 | €901 | €773 | -€128 | -14.2% |
| Cash at bank and in hand | 54/58 | €652 | €733 | +€81 | +12.4% |
| Deferred charges and accrued income | 490/1 | €107 | €252 | +€145 | +135% |
| Total equity and liabilities | 10/49 | €1,660 | €1,758 | +€98 | +5.9% |
| Equity | 10/15 | -€138,793 | -€143,923 | -€5,130 | -3.7% |
| Contributions | 10/11 | €12,592 | €12,592 | = | 0.0% |
| Reserves | 13 | €1,370 | €1,370 | = | 0.0% |
| Distributable reserves | 133 | €1,370 | €1,370 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€152,756 | -€157,885 | -€5,130 | -3.4% |
| Amounts payable | 17/49 | €140,454 | €145,681 | +€5,227 | +3.7% |
| Amounts payable within one year | 42/48 | €140,454 | €145,681 | +€5,227 | +3.7% |
| Trade debts | 44 | €582 | €778 | +€196 | +33.7% |
| Suppliers | 440/4 | €582 | €778 | +€196 | +33.7% |
| Taxes, remuneration and social security | 45 | €667 | €854 | +€188 | +28.1% |
| Taxes | 450/3 | €667 | €854 | +€188 | +28.1% |
| Other amounts payable | 47/48 | €139,205 | €144,049 | +€4,844 | +3.5% |
| Other operating charges | 640/8 | €678 | €694 | +€16 | +2.4% |
| Gross operating margin | 9900 | -€6,800 | -€4,200 | +€2,600 | +38.2% |
| Operating profit (loss) | 9901 | -€7,478 | -€4,894 | +€2,584 | +34.6% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €239 | €237 | -€2 | -1.0% |
| Recurring financial charges | 65 | €239 | €237 | -€2 | -1.0% |
| Profit (loss) for the period before taxes | 9903 | -€7,717 | -€5,130 | +€2,587 | +33.5% |
| Profit (loss) for the period | 9904 | -€7,717 | -€5,130 | +€2,587 | +33.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,717 | -€5,130 | +€2,587 | +33.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.