VANCALI: what changed
VANCALI
Largest movements
- Tangible fixed assets +€271,110
up €271,110 (+246%), from €110,300 to €381,410
of which Land and buildings: +€271,342
- Cash -€48,690
down €48,690 (-70.8%), from €68,783 to €20,093
mainly Investment in fixed assets (net) (-€278,397) and Net result for the year (-€13,180)
- Other debts +€178,820
up €178,820 (+149%), from €120,053 to €298,873
- Trade debts +€56,440
up €56,440 (+1,585%), from €3,562 to €60,002
- Profit (loss) carried forward -€13,180
down €13,180 (-153%), from -€8,626 to -€21,806
- Depreciation +€6,734
up €6,734 (+1,216%), from €554 to €7,287
- Gross operating margin +€2,713
up €2,713 (+33.6%), from -€8,069 to -€5,355
- Other operating charges +€431
new in 2025: €431
- Financial charges +€103
up €103 (+2,993%), from €3 to €106
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 | €179,989 | €402,069 | +€222,080 | +123% |
| Fixed assets | 21/28 | €110,300 | €381,410 | +€271,110 | +246% |
| Tangible fixed assets | 22/27 | €110,300 | €381,410 | +€271,110 | +246% |
| Land and buildings | 22 | €109,692 | €381,035 | +€271,342 | +247% |
| Furniture and vehicles | 24 | €607 | €375 | -€232 | -38.3% |
| Current assets | 29/58 | €69,689 | €20,660 | -€49,030 | -70.4% |
| Amounts receivable within one year | 40/41 | €906 | €566 | -€339 | -37.5% |
| Trade receivables | 40 | - | €534 | +€534 | |
| Other amounts receivable | 41 | €906 | €32 | -€873 | -96.4% |
| Cash at bank and in hand | 54/58 | €68,783 | €20,093 | -€48,690 | -70.8% |
| Total equity and liabilities | 10/49 | €179,989 | €402,069 | +€222,080 | +123% |
| Equity | 10/15 | €56,374 | €43,194 | -€13,180 | -23.4% |
| Contributions | 10/11 | €65,000 | €65,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€8,626 | -€21,806 | -€13,180 | -153% |
| Amounts payable | 17/49 | €123,615 | €358,875 | +€235,260 | +190% |
| Amounts payable within one year | 42/48 | €123,615 | €358,875 | +€235,260 | +190% |
| Trade debts | 44 | €3,562 | €60,002 | +€56,440 | +1,585% |
| Suppliers | 440/4 | €3,562 | €60,002 | +€56,440 | +1,585% |
| Other amounts payable | 47/48 | €120,053 | €298,873 | +€178,820 | +149% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €554 | €7,287 | +€6,734 | +1,216% |
| Other operating charges | 640/8 | - | €431 | +€431 | |
| Gross operating margin | 9900 | -€8,069 | -€5,355 | +€2,713 | +33.6% |
| Operating profit (loss) | 9901 | -€8,623 | -€13,074 | -€4,451 | -51.6% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €3 | €106 | +€103 | +2,993% |
| Recurring financial charges | 65 | €3 | €106 | +€103 | +2,993% |
| Profit (loss) for the period before taxes | 9903 | -€8,626 | -€13,180 | -€4,554 | -52.8% |
| Profit (loss) for the period | 9904 | -€8,626 | -€13,180 | -€4,554 | -52.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,626 | -€13,180 | -€4,554 | -52.8% |
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 4 November 2026 via checked.be.