LA VACHE: 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.
LA VACHE
Largest movements
- Cash -€34,025
down €34,025 (-10.5%), from €323,469 to €289,445
mainly Other debts (-€27,252) and Investment in fixed assets (net) (-€12,597)
- Other debts -€27,252
down €27,252 (-96.9%), from €28,114 to €862
- Tax, wage and social debts -€11,302
no longer reported in 2025 (was €11,302)
- Other operating charges -€620
down €620 (-35.7%), from €1,736 to €1,117
- Gross operating margin +€425
up €425 (+3.0%), from €14,326 to €14,751
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 | €365,976 | €329,382 | -€36,594 | -10.0% |
| Fixed assets | 21/28 | €34,159 | €33,319 | -€840 | -2.5% |
| Tangible fixed assets | 22/27 | €34,159 | €33,319 | -€840 | -2.5% |
| Plant, machinery and equipment | 23 | €8,401 | €15,342 | +€6,942 | +82.6% |
| Furniture and vehicles | 24 | €25,758 | €17,976 | -€7,782 | -30.2% |
| Current assets | 29/58 | €331,817 | €296,063 | -€35,753 | -10.8% |
| Amounts receivable within one year | 40/41 | €8,168 | €6,511 | -€1,656 | -20.3% |
| Other amounts receivable | 41 | €8,168 | €6,511 | -€1,656 | -20.3% |
| Cash at bank and in hand | 54/58 | €323,469 | €289,445 | -€34,025 | -10.5% |
| Deferred charges and accrued income | 490/1 | €180 | €107 | -€73 | -40.4% |
| Total equity and liabilities | 10/49 | €365,976 | €329,382 | -€36,594 | -10.0% |
| Equity | 10/15 | €326,365 | €326,502 | +€138 | 0.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €64,383 | €64,383 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €62,524 | €62,524 | = | 0.0% |
| Profit (loss) carried forward | 14 | €249,581 | €249,719 | +€138 | +0.1% |
| Amounts payable | 17/49 | €39,611 | €2,880 | -€36,732 | -92.7% |
| Amounts payable within one year | 42/48 | €39,611 | €2,880 | -€36,732 | -92.7% |
| Trade debts | 44 | €195 | €2,018 | +€1,823 | +934.7% |
| Suppliers | 440/4 | €195 | €2,018 | +€1,823 | +934.7% |
| Taxes, remuneration and social security | 45 | €11,302 | - | -€11,302 | |
| Taxes | 450/3 | €11,302 | - | -€11,302 | |
| Other amounts payable | 47/48 | €28,114 | €862 | -€27,252 | -96.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,371 | €13,437 | +€66 | +0.5% |
| Other operating charges | 640/8 | €1,736 | €1,117 | -€620 | -35.7% |
| Gross operating margin | 9900 | €14,326 | €14,751 | +€425 | +3.0% |
| Operating profit (loss) | 9901 | -€782 | €197 | +€979 | |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €83 | €59 | -€24 | -28.5% |
| Recurring financial charges | 65 | €83 | €59 | -€24 | -28.5% |
| Profit (loss) for the period before taxes | 9903 | -€864 | €138 | +€1,002 | |
| Profit (loss) for the period | 9904 | -€864 | €138 | +€1,002 | |
| Profit (loss) for the period to be appropriated | 9905 | -€864 | €138 | +€1,002 |
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 7 October 2026 via checked.be.