Groep VAB: 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.
Groep VAB
Largest movements
- Receivables within one year +€6.1m
up €6.1m (+918.8%), from €659,023 to €6.7m
of which Other amounts receivable: +€6.0m
- Cash +€2.2m
up €2.2m (+1161.9%), from €190,879 to €2.4m
mainly Short-term financial debts (+€5.0m) and Net result for the year (+€2.2m)
- Current investments -€1.5m
no longer reported in 2025 (was €1.5m)
- Financial fixed assets +€1.0m
up €1.0m (+5.7%), from €17.5m to €18.5m
- Receivables after one year -€600,000
no longer reported in 2025 (was €600,000)
- Short-term financial debts +€5.0m
new in 2025: €5.0m
- Profit (loss) carried forward +€2.2m
up €2.2m (+13.7%), from €15.9m to €18.1m
- Financial charges -€379,928
down €379,928 (-90.9%), from €418,121 to €38,193
of which Non-recurring financial charges: -€416,856
- Financial income +€242,749
up €242,749 (+13.4%), from €1.8m to €2.1m
- Turnover +€57,893
up €57,893 (+21.7%), from €266,744 to €324,637
- Taxes +€55,092
up €55,092 (+424.2%), from €12,988 to €68,080
- Services and other goods +€30,008
up €30,008 (+45.1%), from €66,559 to €96,567
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 | €20,459,934 | €27,675,255 | +€7.2m | +35.3% |
| Fixed assets | 21/28 | €17,510,033 | €18,552,689 | +€1.0m | +6.0% |
| Tangible fixed assets | 22/27 | - | €42,656 | +€42,656 | |
| Furniture and vehicles | 24 | - | €42,656 | +€42,656 | |
| Financial fixed assets | 28 | €17,510,033 | €18,510,033 | +€1.0m | +5.7% |
| Affiliated companies | 280/1 | €17,510,033 | €18,510,033 | +€1.0m | +5.7% |
| Participating interests | 280 | €17,510,033 | €18,510,033 | +€1.0m | +5.7% |
| Current assets | 29/58 | €2,949,901 | €9,122,566 | +€6.2m | +209.2% |
| Amounts receivable after more than one year | 29 | €600,000 | - | -€600,000 | |
| Other amounts receivable | 291 | €600,000 | - | -€600,000 | |
| Amounts receivable within one year | 40/41 | €659,023 | €6,713,841 | +€6.1m | +918.8% |
| Trade receivables | 40 | €266,012 | €274,473 | +€8,461 | +3.2% |
| Other amounts receivable | 41 | €393,011 | €6,439,368 | +€6.0m | +1538.5% |
| Current investments | 50/53 | €1,500,000 | - | -€1.5m | |
| Other investments | 51/53 | €1,500,000 | - | -€1.5m | |
| Cash at bank and in hand | 54/58 | €190,879 | €2,408,724 | +€2.2m | +1161.9% |
| Total equity and liabilities | 10/49 | €20,459,934 | €27,675,255 | +€7.2m | +35.3% |
| Equity | 10/15 | €20,448,301 | €22,626,655 | +€2.2m | +10.7% |
| Contributions | 10/11 | €4,158,520 | €4,158,520 | = | 0.0% |
| Capital | 10 | €4,158,520 | €4,158,520 | = | 0.0% |
| Issued capital | 100 | €4,158,520 | €4,158,520 | = | 0.0% |
| Reserves | 13 | €415,852 | €415,852 | = | 0.0% |
| Non-distributable reserves | 130/1 | €415,852 | €415,852 | = | 0.0% |
| Legal reserve | 130 | €415,852 | €415,852 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,873,929 | €18,052,283 | +€2.2m | +13.7% |
| Amounts payable | 17/49 | €11,634 | €5,048,600 | +€5.0m | +43296.4% |
| Amounts payable within one year | 42/48 | €11,634 | €5,048,406 | +€5.0m | +43294.7% |
| Financial debts | 43 | - | €5,000,000 | +€5.0m | |
| Other loans | 439 | - | €5,000,000 | +€5.0m | |
| Trade debts | 44 | €11,634 | €46,906 | +€35,272 | +303.2% |
| Suppliers | 440/4 | €11,634 | €46,906 | +€35,272 | +303.2% |
| Other amounts payable | 47/48 | - | €1,500 | +€1,500 | |
| Accrued charges and deferred income | 492/3 | - | €194 | +€194 | |
| Operating income | 70/76A | €266,744 | €324,637 | +€57,893 | +21.7% |
| Turnover | 70 | €266,744 | €324,637 | +€57,893 | +21.7% |
| Operating charges | 60/66A | €68,980 | €98,276 | +€29,296 | +42.5% |
| Services and other goods | 61 | €66,559 | €96,567 | +€30,008 | +45.1% |
| Remuneration, social security and pensions | 62 | - | €194 | +€194 | |
| Other operating charges | 640/8 | €2,421 | €1,515 | -€906 | -37.4% |
| Operating profit (loss) | 9901 | €197,764 | €226,361 | +€28,597 | +14.5% |
| Financial income | 75/76B | €1,817,017 | €2,059,766 | +€242,749 | +13.4% |
| Recurring financial income | 75 | €1,817,017 | €2,059,766 | +€242,749 | +13.4% |
| Income from financial fixed assets | 750 | €1,769,654 | €1,956,674 | +€187,021 | +10.6% |
| Income from current assets | 751 | €47,363 | €103,091 | +€55,728 | +117.7% |
| Financial charges | 65/66B | €418,121 | €38,193 | -€379,928 | -90.9% |
| Recurring financial charges | 65 | €1,265 | €38,193 | +€36,927 | +2918.3% |
| Debt charges | 650 | €1,089 | €38,015 | +€36,926 | +3390.7% |
| Other financial charges | 652/9 | €176 | €178 | +€1 | +0.8% |
| Non-recurring financial charges | 66B | €416,856 | - | -€416,856 | |
| Profit (loss) for the period before taxes | 9903 | €1,596,660 | €2,247,934 | +€651,274 | +40.8% |
| Income taxes | 67/77 | €12,988 | €68,080 | +€55,092 | +424.2% |
| Taxes | 670/3 | €47,853 | €68,080 | +€20,227 | +42.3% |
| Tax adjustments and reversals of tax provisions | 77 | €34,865 | - | -€34,865 | |
| Profit (loss) for the period | 9904 | €1,583,672 | €2,179,854 | +€596,182 | +37.6% |
| Profit (loss) for the period to be appropriated | 9905 | €1,583,672 | €2,179,854 | +€596,182 | +37.6% |
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 11 October 2026 via checked.be.