A Vapps: 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.
A Vapps
Largest movements
- Stocks and contracts +€21,115
up €21,115 (+45.8%), from €46,074 to €67,189
- Tangible fixed assets -€14,527
down €14,527 (-22.3%), from €65,197 to €50,670
of which Furniture and vehicles: -€13,155
- Cash -€13,984
down €13,984 (-96.2%), from €14,541 to €558
mainly Contributions, distributions and other (-€41,679) and Net result for the year (-€31,999)
- Receivables within one year +€11,253
up €11,253 (+21.9%), from €51,448 to €62,702
of which Trade receivables: +€41,736
- Trade debts +€53,323
up €53,323 (+680%), from €7,841 to €61,164
- Reserves -€46,745
down €46,745 (-51.2%), from €91,242 to €44,496
- Profit (loss) carried forward -€26,932
down €26,932, from €0 to -€26,932
- Debts after one year +€12,501
up €12,501 (+30.6%), from €40,790 to €53,291
- Current portion of long-term debt +€6,973
up €6,973 (+75.7%), from €9,210 to €16,183
- Gross operating margin -€44,127
down €44,127 (-79.0%), from €55,831 to €11,704
- Write-downs -€17,575
down €17,575, from €0 to -€17,575
- Taxes -€14,770
down €14,770 (-75.0%), from €19,701 to €4,931
- Depreciation +€9,894
up €9,894 (+188%), from €5,271 to €15,165
- Other operating charges -€6,748
down €6,748 (-80.6%), from €8,376 to €1,628
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 | €183,275 | €184,884 | +€1,609 | +0.9% |
| Fixed assets | 21/28 | €66,367 | €51,202 | -€15,165 | -22.9% |
| Intangible fixed assets | 21 | €1,170 | €532 | -€638 | -54.5% |
| Tangible fixed assets | 22/27 | €65,197 | €50,670 | -€14,527 | -22.3% |
| Furniture and vehicles | 24 | €59,462 | €46,307 | -€13,155 | -22.1% |
| Other tangible fixed assets | 26 | €5,735 | €4,363 | -€1,372 | -23.9% |
| Current assets | 29/58 | €116,908 | €133,682 | +€16,774 | +14.3% |
| Stocks and contracts in progress | 3 | €46,074 | €67,189 | +€21,115 | +45.8% |
| Stocks | 30/36 | €46,074 | €67,189 | +€21,115 | +45.8% |
| Amounts receivable within one year | 40/41 | €51,448 | €62,702 | +€11,253 | +21.9% |
| Trade receivables | 40 | €11,293 | €53,029 | +€41,736 | +370% |
| Other amounts receivable | 41 | €40,155 | €9,672 | -€30,483 | -75.9% |
| Cash at bank and in hand | 54/58 | €14,541 | €558 | -€13,984 | -96.2% |
| Deferred charges and accrued income | 490/1 | €4,844 | €3,234 | -€1,610 | -33.2% |
| Total equity and liabilities | 10/49 | €183,275 | €184,884 | +€1,609 | +0.9% |
| Equity | 10/15 | €109,842 | €36,164 | -€73,678 | -67.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €91,242 | €44,496 | -€46,745 | -51.2% |
| Distributable reserves | 133 | €91,242 | €44,496 | -€46,745 | -51.2% |
| Profit (loss) carried forward | 14 | €0 | -€26,932 | -€26,932 | |
| Amounts payable | 17/49 | €73,434 | €148,720 | +€75,287 | +103% |
| Amounts payable after more than one year | 17 | €40,790 | €53,291 | +€12,501 | +30.6% |
| Financial debts | 170/4 | €40,790 | €53,291 | +€12,501 | +30.6% |
| Amounts payable within one year | 42/48 | €32,644 | €95,429 | +€62,785 | +192% |
| Current portion of amounts payable after more than one year | 42 | €9,210 | €16,183 | +€6,973 | +75.7% |
| Financial debts | 43 | €8,368 | €8,358 | -€10 | -0.1% |
| Credit institutions | 430/8 | €8,368 | €8,358 | -€10 | -0.1% |
| Trade debts | 44 | €7,841 | €61,164 | +€53,323 | +680% |
| Suppliers | 440/4 | €7,841 | €61,164 | +€53,323 | +680% |
| Taxes, remuneration and social security | 45 | €6,745 | €3,125 | -€3,620 | -53.7% |
| Taxes | 450/3 | €5,561 | €3,125 | -€2,436 | -43.8% |
| Remuneration and social security | 454/9 | €1,185 | €0 | -€1,185 | -100% |
| Other amounts payable | 47/48 | €480 | €6,599 | +€6,119 | +1,274% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,271 | €15,165 | +€9,894 | +188% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | -€17,575 | -€17,575 | |
| Other operating charges | 640/8 | €8,376 | €1,628 | -€6,748 | -80.6% |
| Non-recurring operating charges | 66A | - | €34,995 | +€34,995 | |
| Gross operating margin | 9900 | €55,831 | €11,704 | -€44,127 | -79.0% |
| Operating profit (loss) | 9901 | €42,184 | -€22,510 | -€64,694 | |
| Financial income | 75/76B | €2,362 | €40 | -€2,322 | -98.3% |
| Recurring financial income | 75 | €2,362 | €40 | -€2,322 | -98.3% |
| Financial charges | 65/66B | €2,071 | €4,598 | +€2,527 | +122% |
| Recurring financial charges | 65 | €2,071 | €4,598 | +€2,527 | +122% |
| Profit (loss) for the period before taxes | 9903 | €42,476 | -€27,068 | -€69,544 | |
| Income taxes | 67/77 | €19,701 | €4,931 | -€14,770 | -75.0% |
| Profit (loss) for the period | 9904 | €22,775 | -€31,999 | -€54,774 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,775 | -€31,999 | -€54,774 |
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 20 October 2026 via checked.be.