VAART 73: 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.
VAART 73
Largest movements
- Tangible fixed assets -€46,868
down €46,868 (-12.2%), from €384,872 to €338,004
- Receivables within one year +€13,103
up €13,103 (+8.3%), from €157,201 to €170,305
of which Other amounts receivable: +€12,575
- Receivables after one year +€12,656
new in 2025: €12,656
- Cash -€11,609
down €11,609 (-33.0%), from €35,169 to €23,560
mainly Contributions, distributions and other (-€72,024) and Debts after one year (-€46,848)
- Debts after one year -€46,848
down €46,848 (-19.0%), from €246,456 to €199,608
- Other debts +€26,168
up €26,168 (+13.3%), from €197,163 to €223,331
- Tax, wage and social debts -€13,767
down €13,767 (-31.0%), from €44,456 to €30,689
of which Taxes: -€13,547
- Trade debts +€7,833
up €7,833 (+280%), from €2,797 to €10,631
- Gross operating margin -€80,064
down €80,064 (-33.1%), from €241,564 to €161,501
- Taxes -€16,799
down €16,799 (-39.9%), from €42,075 to €25,276
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 | €598,915 | €566,982 | -€31,933 | -5.3% |
| Fixed assets | 21/28 | €401,780 | €354,912 | -€46,868 | -11.7% |
| Tangible fixed assets | 22/27 | €384,872 | €338,004 | -€46,868 | -12.2% |
| Land and buildings | 22 | €241,470 | €220,845 | -€20,625 | -8.5% |
| Plant, machinery and equipment | 23 | €4,128 | €3,702 | -€426 | -10.3% |
| Furniture and vehicles | 24 | €42,137 | €33,150 | -€8,987 | -21.3% |
| Other tangible fixed assets | 26 | €97,136 | €80,306 | -€16,831 | -17.3% |
| Financial fixed assets | 28 | €16,908 | €16,908 | = | 0.0% |
| Current assets | 29/58 | €197,135 | €212,070 | +€14,935 | +7.6% |
| Amounts receivable after more than one year | 29 | - | €12,656 | +€12,656 | |
| Other amounts receivable | 291 | - | €12,656 | +€12,656 | |
| Amounts receivable within one year | 40/41 | €157,201 | €170,305 | +€13,103 | +8.3% |
| Trade receivables | 40 | €146,776 | €147,305 | +€528 | +0.4% |
| Other amounts receivable | 41 | €10,425 | €23,000 | +€12,575 | +121% |
| Cash at bank and in hand | 54/58 | €35,169 | €23,560 | -€11,609 | -33.0% |
| Deferred charges and accrued income | 490/1 | €4,765 | €5,550 | +€785 | +16.5% |
| Total equity and liabilities | 10/49 | €598,915 | €566,982 | -€31,933 | -5.3% |
| Equity | 10/15 | €34,100 | €34,100 | = | 0.0% |
| Contributions | 10/11 | €31,000 | €31,000 | = | 0.0% |
| Contributions outside capital | 11 | €31,000 | €31,000 | = | 0.0% |
| Other | 1109/19 | €31,000 | €31,000 | = | 0.0% |
| Reserves | 13 | €3,100 | €3,100 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,100 | €3,100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,100 | €3,100 | = | 0.0% |
| Amounts payable | 17/49 | €564,815 | €532,882 | -€31,933 | -5.7% |
| Amounts payable after more than one year | 17 | €246,456 | €199,608 | -€46,848 | -19.0% |
| Financial debts | 170/4 | €246,456 | €199,608 | -€46,848 | -19.0% |
| Amounts payable within one year | 42/48 | €314,709 | €331,775 | +€17,066 | +5.4% |
| Current portion of amounts payable after more than one year | 42 | €50,292 | €46,848 | -€3,444 | -6.8% |
| Financial debts | 43 | €20,000 | €20,276 | +€276 | +1.4% |
| Credit institutions | 430/8 | €20,000 | €20,276 | +€276 | +1.4% |
| Trade debts | 44 | €2,797 | €10,631 | +€7,833 | +280% |
| Suppliers | 440/4 | €2,797 | €10,631 | +€7,833 | +280% |
| Taxes, remuneration and social security | 45 | €44,456 | €30,689 | -€13,767 | -31.0% |
| Taxes | 450/3 | €44,236 | €30,689 | -€13,547 | -30.6% |
| Remuneration and social security | 454/9 | €220 | - | -€220 | |
| Other amounts payable | 47/48 | €197,163 | €223,331 | +€26,168 | +13.3% |
| Accrued charges and deferred income | 492/3 | €3,650 | €1,500 | -€2,150 | -58.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,582 | €54,463 | -€119 | -0.2% |
| Other operating charges | 640/8 | €3,164 | €3,192 | +€27 | +0.9% |
| Gross operating margin | 9900 | €241,564 | €161,501 | -€80,064 | -33.1% |
| Operating profit (loss) | 9901 | €183,818 | €103,846 | -€79,972 | -43.5% |
| Financial income | 75/76B | €264 | €401 | +€137 | +51.8% |
| Recurring financial income | 75 | €264 | €401 | +€137 | +51.8% |
| Financial charges | 65/66B | €6,887 | €6,947 | +€60 | +0.9% |
| Recurring financial charges | 65 | €6,887 | €6,947 | +€60 | +0.9% |
| Profit (loss) for the period before taxes | 9903 | €177,195 | €97,300 | -€79,896 | -45.1% |
| Income taxes | 67/77 | €42,075 | €25,276 | -€16,799 | -39.9% |
| Profit (loss) for the period | 9904 | €135,120 | €72,024 | -€63,096 | -46.7% |
| Profit (loss) for the period to be appropriated | 9905 | €135,120 | €72,024 | -€63,096 | -46.7% |
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 20 October 2026 via checked.be.