FUN VAP: what changed
Two fiscal 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.
FUN VAP
Largest movements
- Intangible fixed assets -€15,000
down €15,000 (-34.2%), from €43,893 to €28,893
- Cash -€9,649
down €9,649 (-14.1%), from €68,553 to €58,904
mainly Contributions, distributions and other (-€27,634) and Debts after one year (-€15,156)
- Reserves -€15,236
down €15,236 (-19.2%), from €79,368 to €64,132
- Debts after one year -€15,156
down €15,156 (-62.7%), from €24,172 to €9,017
- Trade debts +€2,936
up €2,936 (+35.6%), from €8,258 to €11,195
- Tax, wage and social debts +€2,295
up €2,295 (+68.8%), from €3,335 to €5,629
- Other operating charges +€5,121
up €5,121 (+580.0%), from €883 to €6,003
- Gross operating margin -€4,644
down €4,644 (-9.6%), from €48,506 to €43,862
- Taxes -€3,312
down €3,312 (-48.3%), from €6,857 to €3,545
- Depreciation -€862
down €862 (-4.7%), from €18,474 to €17,613
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.
Cash bridge derived
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 | €169,389 | €145,886 | -€23,503 | -13.9% |
| Fixed assets | 21/28 | €65,909 | €50,120 | -€15,788 | -24.0% |
| Intangible fixed assets | 21 | €43,893 | €28,893 | -€15,000 | -34.2% |
| Tangible fixed assets | 22/27 | €21,797 | €21,008 | -€788 | -3.6% |
| Plant, machinery and equipment | 23 | €1,121 | €810 | -€312 | -27.8% |
| Furniture and vehicles | 24 | €20,676 | €20,199 | -€477 | -2.3% |
| Financial fixed assets | 28 | €218 | €218 | = | 0.0% |
| Current assets | 29/58 | €103,480 | €95,766 | -€7,714 | -7.5% |
| Stocks and contracts in progress | 3 | €12,048 | €13,734 | +€1,685 | +14.0% |
| Stocks | 30/36 | €12,048 | €13,734 | +€1,685 | +14.0% |
| Amounts receivable within one year | 40/41 | €22,111 | €22,177 | +€66 | +0.3% |
| Trade receivables | 40 | €6,424 | €4,255 | -€2,169 | -33.8% |
| Other amounts receivable | 41 | €15,688 | €17,923 | +€2,235 | +14.2% |
| Cash at bank and in hand | 54/58 | €68,553 | €58,904 | -€9,649 | -14.1% |
| Deferred charges and accrued income | 490/1 | €767 | €951 | +€184 | +23.9% |
| Total equity and liabilities | 10/49 | €169,389 | €145,886 | -€23,503 | -13.9% |
| Equity | 10/15 | €91,193 | €75,957 | -€15,236 | -16.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €79,368 | €64,132 | -€15,236 | -19.2% |
| Distributable reserves | 133 | €79,368 | €64,132 | -€15,236 | -19.2% |
| Profit (loss) carried forward | 14 | €10,825 | €10,825 | = | 0.0% |
| Amounts payable | 17/49 | €78,196 | €69,929 | -€8,267 | -10.6% |
| Amounts payable after more than one year | 17 | €24,172 | €9,017 | -€15,156 | -62.7% |
| Financial debts | 170/4 | €24,172 | €9,017 | -€15,156 | -62.7% |
| Amounts payable within one year | 42/48 | €54,023 | €60,912 | +€6,889 | +12.8% |
| Current portion of amounts payable after more than one year | 42 | €16,081 | €16,455 | +€374 | +2.3% |
| Trade debts | 44 | €8,258 | €11,195 | +€2,936 | +35.6% |
| Suppliers | 440/4 | €8,258 | €11,195 | +€2,936 | +35.6% |
| Taxes, remuneration and social security | 45 | €3,335 | €5,629 | +€2,295 | +68.8% |
| Taxes | 450/3 | €3,335 | €5,629 | +€2,295 | +68.8% |
| Other amounts payable | 47/48 | €26,350 | €27,634 | +€1,284 | +4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,474 | €17,613 | -€862 | -4.7% |
| Other operating charges | 640/8 | €883 | €6,003 | +€5,121 | +580.0% |
| Non-recurring operating charges | 66A | €1,894 | €514 | -€1,380 | -72.9% |
| Gross operating margin | 9900 | €48,506 | €43,862 | -€4,644 | -9.6% |
| Operating profit (loss) | 9901 | €27,254 | €19,732 | -€7,523 | -27.6% |
| Financial income | 75/76B | €24 | €1 | -€22 | -94.0% |
| Recurring financial income | 75 | €24 | €1 | -€22 | -94.0% |
| Financial charges | 65/66B | €4,085 | €3,790 | -€295 | -7.2% |
| Recurring financial charges | 65 | €4,085 | €3,790 | -€295 | -7.2% |
| Profit (loss) for the period before taxes | 9903 | €23,193 | €15,943 | -€7,250 | -31.3% |
| Income taxes | 67/77 | €6,857 | €3,545 | -€3,312 | -48.3% |
| Profit (loss) for the period | 9904 | €16,336 | €12,398 | -€3,938 | -24.1% |
| Profit (loss) for the period to be appropriated | 9905 | €16,336 | €12,398 | -€3,938 | -24.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.