Vaartwel: 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.
Vaartwel
Largest movements
- Cash +€3,951
up €3,951 (+13.5%), from €29,164 to €33,115
mainly Receivables within one year (+€1,799) and Net result for the year (+€1,641)
- Receivables within one year -€1,799
no longer reported in 2025 (was €1,799)
of which Other amounts receivable: -€1,199
- Reserves +€1,641
up €1,641 (+25.2%), from €6,503 to €8,144
- Other debts +€689
up €689 (+10.9%), from €6,296 to €6,985
- Gross operating margin +€5,747
up €5,747, from -€3,355 to €2,392
- Taxes +€164
new in 2025: €164
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 | €31,960 | €34,302 | +€2,342 | +7.3% |
| Current assets | 29/58 | €31,960 | €34,302 | +€2,342 | +7.3% |
| Amounts receivable within one year | 40/41 | €1,799 | - | -€1,799 | |
| Trade receivables | 40 | €600 | - | -€600 | |
| Other amounts receivable | 41 | €1,199 | - | -€1,199 | |
| Cash at bank and in hand | 54/58 | €29,164 | €33,115 | +€3,951 | +13.5% |
| Deferred charges and accrued income | 490/1 | €997 | €1,187 | +€190 | +19.0% |
| Total equity and liabilities | 10/49 | €31,960 | €34,302 | +€2,342 | +7.3% |
| Equity | 10/15 | €25,095 | €26,736 | +€1,641 | +6.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €6,503 | €8,144 | +€1,641 | +25.2% |
| Distributable reserves | 133 | €6,503 | €8,144 | +€1,641 | +25.2% |
| Amounts payable | 17/49 | €6,865 | €7,566 | +€701 | +10.2% |
| Amounts payable within one year | 42/48 | €6,865 | €7,566 | +€701 | +10.2% |
| Trade debts | 44 | €569 | €417 | -€152 | -26.7% |
| Suppliers | 440/4 | €569 | €417 | -€152 | -26.7% |
| Taxes, remuneration and social security | 45 | - | €164 | +€164 | |
| Taxes | 450/3 | - | €164 | +€164 | |
| Other amounts payable | 47/48 | €6,296 | €6,985 | +€689 | +10.9% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | -€3,355 | €2,392 | +€5,747 | |
| Operating profit (loss) | 9901 | -€3,743 | €1,992 | +€5,735 | |
| Financial charges | 65/66B | €156 | €187 | +€32 | +20.3% |
| Recurring financial charges | 65 | €156 | €187 | +€32 | +20.3% |
| Profit (loss) for the period before taxes | 9903 | -€3,898 | €1,805 | +€5,703 | |
| Income taxes | 67/77 | - | €164 | +€164 | |
| Profit (loss) for the period | 9904 | -€3,898 | €1,641 | +€5,539 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,898 | €1,641 | +€5,539 |
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 24 October 2026 via checked.be.