The VAP House: what changed
The VAP House
Largest movements
- Cash -€43,376
down €43,376 (-77.1%), from €56,295 to €12,918
mainly Net result for the year (-€37,126) and Receivables within one year (-€13,574)
- Receivables within one year +€13,574
up €13,574 (+145%), from €9,355 to €22,930
of which Other amounts receivable: +€14,239
- Stocks and contracts -€7,824
down €7,824 (-42.9%), from €18,239 to €10,415
- Tangible fixed assets -€7,725
down €7,725 (-85.2%), from €9,066 to €1,341
of which Furniture and vehicles: -€7,292
- Profit (loss) carried forward -€37,126
down €37,126, from €598 to -€36,529
- Other debts -€10,155
down €10,155 (-63.4%), from €16,010 to €5,855
- Trade debts +€5,110
up €5,110 (+20.5%), from €24,942 to €30,052
- Accrued charges and deferred income -€3,612
down €3,612 (-38.3%), from €9,438 to €5,827
- Gross operating margin -€66,274
down €66,274, from €41,797 to -€24,478
- Depreciation -€8,909
down €8,909 (-53.6%), from €16,634 to €7,725
- Taxes -€5,816
down €5,816 (-88.4%), from €6,576 to €761
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €94,328 | €49,202 | -€45,126 | -47.8% |
| Fixed assets | 21/28 | €10,246 | €2,521 | -€7,725 | -75.4% |
| Tangible fixed assets | 22/27 | €9,066 | €1,341 | -€7,725 | -85.2% |
| Plant, machinery and equipment | 23 | €555 | €122 | -€433 | -78.0% |
| Furniture and vehicles | 24 | €8,511 | €1,219 | -€7,292 | -85.7% |
| Financial fixed assets | 28 | €1,180 | €1,180 | = | 0.0% |
| Current assets | 29/58 | €84,083 | €46,681 | -€37,401 | -44.5% |
| Stocks and contracts in progress | 3 | €18,239 | €10,415 | -€7,824 | -42.9% |
| Stocks | 30/36 | €18,239 | €10,415 | -€7,824 | -42.9% |
| Amounts receivable within one year | 40/41 | €9,355 | €22,930 | +€13,574 | +145% |
| Trade receivables | 40 | €932 | €267 | -€665 | -71.4% |
| Other amounts receivable | 41 | €8,424 | €22,663 | +€14,239 | +169% |
| Cash at bank and in hand | 54/58 | €56,295 | €12,918 | -€43,376 | -77.1% |
| Deferred charges and accrued income | 490/1 | €194 | €418 | +€224 | +116% |
| Total equity and liabilities | 10/49 | €94,328 | €49,202 | -€45,126 | -47.8% |
| Equity | 10/15 | €36,501 | -€625 | -€37,126 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €17,304 | €17,304 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €15,444 | €15,444 | = | 0.0% |
| Profit (loss) carried forward | 14 | €598 | -€36,529 | -€37,126 | |
| Amounts payable | 17/49 | €57,827 | €49,828 | -€8,000 | -13.8% |
| Amounts payable within one year | 42/48 | €48,389 | €44,001 | -€4,388 | -9.1% |
| Trade debts | 44 | €24,942 | €30,052 | +€5,110 | +20.5% |
| Suppliers | 440/4 | €24,942 | €30,052 | +€5,110 | +20.5% |
| Taxes, remuneration and social security | 45 | €7,436 | €8,094 | +€657 | +8.8% |
| Taxes | 450/3 | €7,436 | €8,094 | +€657 | +8.8% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €16,010 | €5,855 | -€10,155 | -63.4% |
| Accrued charges and deferred income | 492/3 | €9,438 | €5,827 | -€3,612 | -38.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,634 | €7,725 | -€8,909 | -53.6% |
| Other operating charges | 640/8 | €1,604 | €1,632 | +€27 | +1.7% |
| Gross operating margin | 9900 | €41,797 | -€24,478 | -€66,274 | |
| Operating profit (loss) | 9901 | €23,558 | -€33,834 | -€57,392 | |
| Financial charges | 65/66B | €2,931 | €2,532 | -€399 | -13.6% |
| Recurring financial charges | 65 | €2,931 | €2,532 | -€399 | -13.6% |
| Profit (loss) for the period before taxes | 9903 | €20,628 | -€36,366 | -€56,993 | |
| Income taxes | 67/77 | €6,576 | €761 | -€5,816 | -88.4% |
| Profit (loss) for the period | 9904 | €14,051 | -€37,126 | -€51,178 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,051 | -€37,126 | -€51,178 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.