V.A.Q. SERVICES: 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.
V.A.Q. SERVICES
Largest movements
- Cash -€11,859
down €11,859 (-47.8%), from €24,818 to €12,959
mainly Trade debts (-€9,064) and Investment in fixed assets (net) (-€8,548)
- Receivables within one year +€5,089
up €5,089 (+8.5%), from €60,135 to €65,224
of which Other amounts receivable: +€4,485
- Trade debts -€9,064
down €9,064 (-57.1%), from €15,879 to €6,815
- Debts after one year -€6,131
down €6,131 (-38.6%), from €15,896 to €9,765
- Profit (loss) carried forward +€4,493
up €4,493 (+43.5%), from -€10,319 to -€5,826
- Tax, wage and social debts +€4,278
up €4,278 (+69.1%), from €6,194 to €10,472
- Gross operating margin +€16,257
up €16,257 (+248%), from €6,549 to €22,806
- Taxes +€2,231
up €2,231 (+832%), from €268 to €2,499
- Financial charges -€308
down €308 (-4.2%), from €7,351 to €7,043
- Depreciation -€276
down €276 (-2.8%), from €9,951 to €9,675
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 | €124,567 | €117,637 | -€6,930 | -5.6% |
| Fixed assets | 21/28 | €39,085 | €37,958 | -€1,127 | -2.9% |
| Tangible fixed assets | 22/27 | €39,085 | €37,958 | -€1,127 | -2.9% |
| Land and buildings | 22 | €2,070 | €2,070 | = | 0.0% |
| Furniture and vehicles | 24 | €29,074 | €20,679 | -€8,395 | -28.9% |
| Other tangible fixed assets | 26 | €7,941 | €15,209 | +€7,268 | +91.5% |
| Current assets | 29/58 | €85,482 | €79,679 | -€5,803 | -6.8% |
| Amounts receivable within one year | 40/41 | €60,135 | €65,224 | +€5,089 | +8.5% |
| Trade receivables | 40 | €53,967 | €54,571 | +€604 | +1.1% |
| Other amounts receivable | 41 | €6,168 | €10,653 | +€4,485 | +72.7% |
| Cash at bank and in hand | 54/58 | €24,818 | €12,959 | -€11,859 | -47.8% |
| Deferred charges and accrued income | 490/1 | €529 | €1,496 | +€967 | +183% |
| Total equity and liabilities | 10/49 | €124,567 | €117,637 | -€6,930 | -5.6% |
| Equity | 10/15 | €18,307 | €22,800 | +€4,493 | +24.5% |
| Contributions | 10/11 | €6,205 | €6,205 | = | 0.0% |
| Reserves | 13 | €22,421 | €22,421 | = | 0.0% |
| Distributable reserves | 133 | €22,421 | €22,421 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,319 | -€5,826 | +€4,493 | +43.5% |
| Provisions and deferred taxes | 16 | €62,446 | €61,654 | -€792 | -1.3% |
| Provisions for liabilities and charges | 160/5 | €62,446 | €61,654 | -€792 | -1.3% |
| Environmental obligations | 163 | €62,446 | €61,654 | -€792 | -1.3% |
| Amounts payable | 17/49 | €43,814 | €33,183 | -€10,631 | -24.3% |
| Amounts payable after more than one year | 17 | €15,896 | €9,765 | -€6,131 | -38.6% |
| Financial debts | 170/4 | €15,896 | €9,765 | -€6,131 | -38.6% |
| Amounts payable within one year | 42/48 | €27,918 | €23,418 | -€4,500 | -16.1% |
| Current portion of amounts payable after more than one year | 42 | €5,845 | €6,131 | +€286 | +4.9% |
| Trade debts | 44 | €15,879 | €6,815 | -€9,064 | -57.1% |
| Suppliers | 440/4 | €15,879 | €6,815 | -€9,064 | -57.1% |
| Taxes, remuneration and social security | 45 | €6,194 | €10,472 | +€4,278 | +69.1% |
| Taxes | 450/3 | €6,194 | €10,472 | +€4,278 | +69.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,951 | €9,675 | -€276 | -2.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€760 | -€792 | -€32 | -4.2% |
| Other operating charges | 640/8 | €387 | €400 | +€13 | +3.4% |
| Gross operating margin | 9900 | €6,549 | €22,806 | +€16,257 | +248% |
| Operating profit (loss) | 9901 | -€3,029 | €13,523 | +€16,552 | |
| Financial income | 75/76B | €329 | €512 | +€183 | +55.6% |
| Recurring financial income | 75 | €329 | €512 | +€183 | +55.6% |
| Financial charges | 65/66B | €7,351 | €7,043 | -€308 | -4.2% |
| Recurring financial charges | 65 | €7,351 | €7,043 | -€308 | -4.2% |
| Profit (loss) for the period before taxes | 9903 | -€10,051 | €6,992 | +€17,043 | |
| Income taxes | 67/77 | €268 | €2,499 | +€2,231 | +832% |
| Profit (loss) for the period | 9904 | -€10,319 | €4,493 | +€14,812 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,319 | €4,493 | +€14,812 |
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 16 October 2026 via checked.be.