LA VACHE: 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.
LA VACHE
Largest movements
- Tangible fixed assets -€83,282
down €83,282 (-28.7%), from €290,379 to €207,097
- Cash +€20,864
up €20,864 (+37.0%), from €56,429 to €77,293
mainly Depreciation (+€84,739) and Net result for the year (+€15,009)
- Receivables within one year +€13,488
up €13,488 (+25.6%), from €52,736 to €66,224
of which Other amounts receivable: +€13,691
- Stocks and contracts -€6,266
down €6,266 (-28.8%), from €21,735 to €15,469
- Debts after one year -€44,393
down €44,393 (-26.6%), from €166,716 to €122,323
- Trade debts -€16,043
down €16,043 (-32.9%), from €48,804 to €32,761
- Profit (loss) carried forward +€15,009
up €15,009 (+18.4%), from €81,746 to €96,755
- Current portion of long-term debt -€11,861
down €11,861 (-21.1%), from €56,254 to €44,393
- Tax, wage and social debts +€5,819
up €5,819 (+52.6%), from €11,062 to €16,881
of which Taxes: +€3,801
- Staff costs -€67,500
down €67,500 (-48.8%), from €138,310 to €70,810
- Gross operating margin -€53,531
down €53,531 (-22.8%), from €234,895 to €181,364
- Depreciation +€4,222
up €4,222 (+5.2%), from €80,517 to €84,739
- Financial charges -€2,383
down €2,383 (-33.3%), from €7,149 to €4,766
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 | €429,405 | €375,826 | -€53,579 | -12.5% |
| Fixed assets | 21/28 | €295,895 | €211,156 | -€84,739 | -28.6% |
| Intangible fixed assets | 21 | €3,516 | €2,059 | -€1,457 | -41.4% |
| Tangible fixed assets | 22/27 | €290,379 | €207,097 | -€83,282 | -28.7% |
| Land and buildings | 22 | €99,629 | €83,090 | -€16,539 | -16.6% |
| Plant, machinery and equipment | 23 | €72,183 | €47,973 | -€24,210 | -33.5% |
| Furniture and vehicles | 24 | €10,639 | €1,735 | -€8,904 | -83.7% |
| Other tangible fixed assets | 26 | €107,928 | €74,299 | -€33,629 | -31.2% |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €133,510 | €164,670 | +€31,160 | +23.3% |
| Stocks and contracts in progress | 3 | €21,735 | €15,469 | -€6,266 | -28.8% |
| Stocks | 30/36 | €21,735 | €15,469 | -€6,266 | -28.8% |
| Amounts receivable within one year | 40/41 | €52,736 | €66,224 | +€13,488 | +25.6% |
| Trade receivables | 40 | €203 | - | -€203 | |
| Other amounts receivable | 41 | €52,533 | €66,224 | +€13,691 | +26.1% |
| Cash at bank and in hand | 54/58 | €56,429 | €77,293 | +€20,864 | +37.0% |
| Deferred charges and accrued income | 490/1 | €2,610 | €5,684 | +€3,074 | +117.8% |
| Total equity and liabilities | 10/49 | €429,405 | €375,826 | -€53,579 | -12.5% |
| Equity | 10/15 | €144,347 | €159,356 | +€15,009 | +10.4% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €22,601 | €22,601 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,000 | €4,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,000 | €4,000 | = | 0.0% |
| Distributable reserves | 133 | €18,601 | €18,601 | = | 0.0% |
| Profit (loss) carried forward | 14 | €81,746 | €96,755 | +€15,009 | +18.4% |
| Amounts payable | 17/49 | €285,058 | €216,470 | -€68,588 | -24.1% |
| Amounts payable after more than one year | 17 | €166,716 | €122,323 | -€44,393 | -26.6% |
| Financial debts | 170/4 | €166,716 | €122,323 | -€44,393 | -26.6% |
| Amounts payable within one year | 42/48 | €116,120 | €94,035 | -€22,085 | -19.0% |
| Current portion of amounts payable after more than one year | 42 | €56,254 | €44,393 | -€11,861 | -21.1% |
| Trade debts | 44 | €48,804 | €32,761 | -€16,043 | -32.9% |
| Suppliers | 440/4 | €48,804 | €32,761 | -€16,043 | -32.9% |
| Taxes, remuneration and social security | 45 | €11,062 | €16,881 | +€5,819 | +52.6% |
| Taxes | 450/3 | €2,416 | €6,217 | +€3,801 | +157.3% |
| Remuneration and social security | 454/9 | €8,646 | €10,664 | +€2,018 | +23.3% |
| Accrued charges and deferred income | 492/3 | €2,222 | €112 | -€2,110 | -95.0% |
| Remuneration, social security and pensions | 62 | €138,310 | €70,810 | -€67,500 | -48.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €80,517 | €84,739 | +€4,222 | +5.2% |
| Other operating charges | 640/8 | €973 | €1,349 | +€376 | +38.6% |
| Gross operating margin | 9900 | €234,895 | €181,364 | -€53,531 | -22.8% |
| Operating profit (loss) | 9901 | €15,095 | €24,466 | +€9,371 | +62.1% |
| Financial income | 75/76B | €147 | - | -€147 | |
| Recurring financial income | 75 | €147 | - | -€147 | |
| Financial charges | 65/66B | €7,149 | €4,766 | -€2,383 | -33.3% |
| Recurring financial charges | 65 | €7,149 | €4,766 | -€2,383 | -33.3% |
| Profit (loss) for the period before taxes | 9903 | €8,093 | €19,700 | +€11,607 | +143.4% |
| Income taxes | 67/77 | €2,416 | €4,691 | +€2,275 | +94.2% |
| Profit (loss) for the period | 9904 | €5,677 | €15,009 | +€9,332 | +164.4% |
| Profit (loss) for the period to be appropriated | 9905 | €5,677 | €15,009 | +€9,332 | +164.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.