LA VACHE FOLLE: 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 FOLLE
Largest movements
- Receivables within one year -€43,219
down €43,219 (-33.0%), from €131,148 to €87,930
of which Trade receivables: -€35,677
- Tangible fixed assets -€13,608
down €13,608 (-5.6%), from €242,641 to €229,033
of which Land and buildings: -€13,208
- Trade debts -€21,753
down €21,753 (-85.9%), from €25,312 to €3,559
- Short-term financial debts -€10,561
down €10,561 (-39.2%), from €26,935 to €16,375
- Tax, wage and social debts -€9,250
down €9,250 (-44.7%), from €20,707 to €11,457
- Profit (loss) carried forward -€8,262
down €8,262 (-3.4%), from €241,917 to €233,655
- Debts after one year -€4,853
down €4,853 (-22.7%), from €21,421 to €16,568
- Gross operating margin -€6,802
down €6,802 (-15.5%), from €43,744 to €36,942
- Other operating charges +€4,195
up €4,195 (+172%), from €2,445 to €6,640
- Taxes -€3,802
down €3,802 (-43.5%), from €8,745 to €4,943
- Financial charges +€2,308
up €2,308 (+98.0%), from €2,355 to €4,663
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 | €373,839 | €319,159 | -€54,679 | -14.6% |
| Fixed assets | 21/28 | €242,691 | €229,082 | -€13,608 | -5.6% |
| Tangible fixed assets | 22/27 | €242,641 | €229,033 | -€13,608 | -5.6% |
| Land and buildings | 22 | €242,240 | €229,033 | -€13,208 | -5.5% |
| Furniture and vehicles | 24 | €401 | - | -€401 | |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €131,148 | €90,077 | -€41,071 | -31.3% |
| Amounts receivable within one year | 40/41 | €131,148 | €87,930 | -€43,219 | -33.0% |
| Trade receivables | 40 | €123,607 | €87,930 | -€35,677 | -28.9% |
| Other amounts receivable | 41 | €7,541 | - | -€7,541 | |
| Cash at bank and in hand | 54/58 | - | €2,148 | +€2,148 | |
| Total equity and liabilities | 10/49 | €373,839 | €319,159 | -€54,679 | -14.6% |
| Equity | 10/15 | €279,463 | €271,200 | -€8,262 | -3.0% |
| Contributions | 10/11 | €18,996 | €18,996 | = | 0.0% |
| Contributions outside capital | 11 | €18,996 | €18,996 | = | 0.0% |
| Share premium | 1100/10 | €18,996 | €18,996 | = | 0.0% |
| Reserves | 13 | €18,550 | €18,550 | = | 0.0% |
| Distributable reserves | 133 | €18,550 | €18,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | €241,917 | €233,655 | -€8,262 | -3.4% |
| Amounts payable | 17/49 | €94,376 | €47,959 | -€46,417 | -49.2% |
| Amounts payable after more than one year | 17 | €21,421 | €16,568 | -€4,853 | -22.7% |
| Financial debts | 170/4 | €21,421 | €16,568 | -€4,853 | -22.7% |
| Amounts payable within one year | 42/48 | €72,955 | €31,391 | -€41,564 | -57.0% |
| Financial debts | 43 | €26,935 | €16,375 | -€10,561 | -39.2% |
| Credit institutions | 430/8 | €26,935 | €16,375 | -€10,561 | -39.2% |
| Trade debts | 44 | €25,312 | €3,559 | -€21,753 | -85.9% |
| Suppliers | 440/4 | €25,312 | €3,559 | -€21,753 | -85.9% |
| Taxes, remuneration and social security | 45 | €20,707 | €11,457 | -€9,250 | -44.7% |
| Taxes | 450/3 | €20,707 | €11,457 | -€9,250 | -44.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,539 | €13,608 | +€69 | +0.5% |
| Other operating charges | 640/8 | €2,445 | €6,640 | +€4,195 | +172% |
| Gross operating margin | 9900 | €43,744 | €36,942 | -€6,802 | -15.5% |
| Operating profit (loss) | 9901 | €27,761 | €16,694 | -€11,067 | -39.9% |
| Financial charges | 65/66B | €2,355 | €4,663 | +€2,308 | +98.0% |
| Recurring financial charges | 65 | €2,355 | €4,663 | +€2,308 | +98.0% |
| Profit (loss) for the period before taxes | 9903 | €25,406 | €12,031 | -€13,375 | -52.6% |
| Income taxes | 67/77 | €8,745 | €4,943 | -€3,802 | -43.5% |
| Profit (loss) for the period | 9904 | €16,660 | €7,088 | -€9,573 | -57.5% |
| Profit (loss) for the period to be appropriated | 9905 | €16,660 | €7,088 | -€9,573 | -57.5% |
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 26 October 2026 via checked.be.