t VAGEVUUR: 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.
t VAGEVUUR
Largest movements
- Cash -€54,556
down €54,556 (-13.3%), from €409,675 to €355,119
mainly Tax, wage and social debts (-€28,241) and Receivables within one year (-€16,157)
- Receivables within one year +€16,157
up €16,157 (+167%), from €9,677 to €25,834
of which Other amounts receivable: +€20,316
- Tax, wage and social debts -€28,241
down €28,241 (-73.9%), from €38,206 to €9,965
of which Taxes: -€25,110
- Accrued charges and deferred income -€10,729
down €10,729 (-85.4%), from €12,558 to €1,829
- Other debts -€7,263
down €7,263 (-42.3%), from €17,166 to €9,903
- Reserves +€6,293
up €6,293 (+2.2%), from €284,795 to €291,088
of which Distributable reserves: +€6,293
- Gross operating margin -€86,207
down €86,207 (-49.1%), from €175,716 to €89,509
- Taxes -€19,991
down €19,991 (-88.8%), from €22,523 to €2,532
- Staff costs -€18,713
down €18,713 (-19.5%), from €95,897 to €77,184
- Other operating charges -€7,131
down €7,131 (-82.3%), from €8,665 to €1,535
- Financial income +€2,057
up €2,057 (+3,636%), from €57 to €2,113
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 | €427,725 | €389,559 | -€38,166 | -8.9% |
| Fixed assets | 21/28 | €1,686 | €1,089 | -€596 | -35.4% |
| Tangible fixed assets | 22/27 | €1,686 | €1,089 | -€596 | -35.4% |
| Plant, machinery and equipment | 23 | €1,686 | €1,089 | -€596 | -35.4% |
| Current assets | 29/58 | €426,039 | €388,470 | -€37,569 | -8.8% |
| Stocks and contracts in progress | 3 | €6,000 | €6,000 | = | 0.0% |
| Stocks | 30/36 | €6,000 | €6,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €9,677 | €25,834 | +€16,157 | +167% |
| Trade receivables | 40 | €7,410 | €3,250 | -€4,160 | -56.1% |
| Other amounts receivable | 41 | €2,268 | €22,584 | +€20,316 | +896% |
| Cash at bank and in hand | 54/58 | €409,675 | €355,119 | -€54,556 | -13.3% |
| Deferred charges and accrued income | 490/1 | €687 | €1,517 | +€830 | +121% |
| Total equity and liabilities | 10/49 | €427,725 | €389,559 | -€38,166 | -8.9% |
| Equity | 10/15 | €359,795 | €366,088 | +€6,293 | +1.7% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €284,795 | €291,088 | +€6,293 | +2.2% |
| Non-distributable reserves | 130/1 | €7,500 | €7,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,500 | €7,500 | = | 0.0% |
| Distributable reserves | 133 | €277,295 | €283,588 | +€6,293 | +2.3% |
| Amounts payable | 17/49 | €67,930 | €23,471 | -€44,459 | -65.4% |
| Amounts payable within one year | 42/48 | €55,372 | €21,642 | -€33,730 | -60.9% |
| Trade debts | 44 | - | €1,774 | +€1,774 | |
| Suppliers | 440/4 | - | €1,774 | +€1,774 | |
| Taxes, remuneration and social security | 45 | €38,206 | €9,965 | -€28,241 | -73.9% |
| Taxes | 450/3 | €25,247 | €137 | -€25,110 | -99.5% |
| Remuneration and social security | 454/9 | €12,958 | €9,827 | -€3,131 | -24.2% |
| Other amounts payable | 47/48 | €17,166 | €9,903 | -€7,263 | -42.3% |
| Accrued charges and deferred income | 492/3 | €12,558 | €1,829 | -€10,729 | -85.4% |
| Non-recurring operating income | 76A | €1,500 | €1,500 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €95,897 | €77,184 | -€18,713 | -19.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €596 | €596 | = | 0.0% |
| Other operating charges | 640/8 | €8,665 | €1,535 | -€7,131 | -82.3% |
| Gross operating margin | 9900 | €175,716 | €89,509 | -€86,207 | -49.1% |
| Operating profit (loss) | 9901 | €70,557 | €10,193 | -€60,364 | -85.6% |
| Financial income | 75/76B | €57 | €2,113 | +€2,057 | +3,636% |
| Recurring financial income | 75 | €57 | €2,113 | +€2,057 | +3,636% |
| Financial charges | 65/66B | €5,445 | €3,481 | -€1,964 | -36.1% |
| Recurring financial charges | 65 | €5,445 | €3,481 | -€1,964 | -36.1% |
| Profit (loss) for the period before taxes | 9903 | €65,169 | €8,826 | -€56,343 | -86.5% |
| Income taxes | 67/77 | €22,523 | €2,532 | -€19,991 | -88.8% |
| Profit (loss) for the period | 9904 | €42,645 | €6,293 | -€36,352 | -85.2% |
| Profit (loss) for the period to be appropriated | 9905 | €42,645 | €6,293 | -€36,352 | -85.2% |
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 22 October 2026 via checked.be.