VAAG OUTDOOR PROJECTS: 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.
VAAG OUTDOOR PROJECTS
Largest movements
- Receivables within one year -€36,841
down €36,841 (-80.9%), from €45,564 to €8,723
of which Trade receivables: -€39,642
- Cash +€25,886
up €25,886 (+3,639%), from €711 to €26,597
mainly Net result for the year (+€68,949) and Receivables within one year (+€36,841)
- Tangible fixed assets -€2,146
down €2,146 (-27.7%), from €7,741 to €5,595
- Profit (loss) carried forward +€68,949
up €68,949 (+35.8%), from -€192,548 to -€123,599
- Trade debts -€45,911
down €45,911 (-81.0%), from €56,667 to €10,756
- Other debts -€32,026
down €32,026 (-38.2%), from €83,846 to €51,820
- Tax, wage and social debts -€23,589
down €23,589 (-90.6%), from €26,023 to €2,434
of which Taxes: -€26,023
- Debts after one year +€19,476
up €19,476 (+26.4%), from €73,829 to €93,305
of which Other amounts payable: +€19,476
- Gross operating margin +€52,950
up €52,950 (+161%), from €32,913 to €85,863
- Staff costs -€44,437
down €44,437 (-76.4%), from €58,199 to €13,763
- Financial charges -€4,730
down €4,730 (-96.2%), from €4,915 to €185
- Write-downs -€3,750
new in 2025: -€3,750
- Other operating charges +€3,247
up €3,247 (+245%), from €1,324 to €4,571
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 | €54,016 | €40,916 | -€13,101 | -24.3% |
| Fixed assets | 21/28 | €7,741 | €5,595 | -€2,146 | -27.7% |
| Tangible fixed assets | 22/27 | €7,741 | €5,595 | -€2,146 | -27.7% |
| Plant, machinery and equipment | 23 | €7,741 | €5,595 | -€2,146 | -27.7% |
| Current assets | 29/58 | €46,275 | €35,320 | -€10,955 | -23.7% |
| Amounts receivable within one year | 40/41 | €45,564 | €8,723 | -€36,841 | -80.9% |
| Trade receivables | 40 | €39,814 | €172 | -€39,642 | -99.6% |
| Other amounts receivable | 41 | €5,750 | €8,551 | +€2,801 | +48.7% |
| Cash at bank and in hand | 54/58 | €711 | €26,597 | +€25,886 | +3,639% |
| Total equity and liabilities | 10/49 | €54,016 | €40,916 | -€13,101 | -24.3% |
| Equity | 10/15 | -€186,348 | -€117,399 | +€68,949 | +37.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€192,548 | -€123,599 | +€68,949 | +35.8% |
| Amounts payable | 17/49 | €240,364 | €158,315 | -€82,049 | -34.1% |
| Amounts payable after more than one year | 17 | €73,829 | €93,305 | +€19,476 | +26.4% |
| Financial debts | 170/4 | €73,829 | €73,829 | = | 0.0% |
| Other amounts payable | 178/9 | - | €19,476 | +€19,476 | |
| Amounts payable within one year | 42/48 | €166,535 | €65,009 | -€101,526 | -61.0% |
| Trade debts | 44 | €56,667 | €10,756 | -€45,911 | -81.0% |
| Suppliers | 440/4 | €56,667 | €10,756 | -€45,911 | -81.0% |
| Taxes, remuneration and social security | 45 | €26,023 | €2,434 | -€23,589 | -90.6% |
| Taxes | 450/3 | €26,023 | - | -€26,023 | |
| Remuneration and social security | 454/9 | - | €2,434 | +€2,434 | |
| Other amounts payable | 47/48 | €83,846 | €51,820 | -€32,026 | -38.2% |
| Remuneration, social security and pensions | 62 | €58,199 | €13,763 | -€44,437 | -76.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,146 | €2,146 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€3,750 | -€3,750 | |
| Other operating charges | 640/8 | €1,324 | €4,571 | +€3,247 | +245% |
| Non-recurring operating charges | 66A | €61,287 | - | -€61,287 | |
| Gross operating margin | 9900 | €32,913 | €85,863 | +€52,950 | +161% |
| Operating profit (loss) | 9901 | -€90,043 | €69,133 | +€159,177 | |
| Financial income | 75/76B | €11 | €1 | -€11 | -92.9% |
| Recurring financial income | 75 | €11 | €1 | -€11 | -92.9% |
| Financial charges | 65/66B | €4,915 | €185 | -€4,730 | -96.2% |
| Recurring financial charges | 65 | €4,915 | €185 | -€4,730 | -96.2% |
| Profit (loss) for the period before taxes | 9903 | -€94,947 | €68,949 | +€163,896 | |
| Profit (loss) for the period | 9904 | -€94,947 | €68,949 | +€163,896 | |
| Profit (loss) for the period to be appropriated | 9905 | -€94,947 | €68,949 | +€163,896 |
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 1 November 2026 via checked.be.