Vaas & Co.: 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.
Vaas & Co.
Largest movements
- Receivables within one year -€17,668
down €17,668 (-99.1%), from €17,834 to €165
of which Trade receivables: -€10,554
- Cash -€16,182
down €16,182 (-78.1%), from €20,730 to €4,548
mainly Debts after one year (-€13,541) and Stocks and contracts (-€13,441)
- Stocks and contracts +€13,441
up €13,441 (+36.0%), from €37,351 to €50,792
- Tangible fixed assets -€6,026
down €6,026 (-16.1%), from €37,543 to €31,516
of which Other tangible fixed assets: -€4,033
- Debts after one year -€13,541
down €13,541 (-42.6%), from €31,822 to €18,281
- Profit (loss) carried forward -€10,976
new in 2025: -€10,976
- Tax, wage and social debts -€6,115
down €6,115 (-71.1%), from €8,596 to €2,481
- Other debts +€4,689
new in 2025: €4,689
- Gross operating margin -€38,457
down €38,457 (-92.5%), from €41,566 to €3,110
- Taxes -€10,716
down €10,716 (-97.9%), from €10,942 to €226
- Other operating charges +€3,883
up €3,883 (+278%), from €1,397 to €5,280
- Financial charges -€865
down €865 (-25.2%), from €3,433 to €2,568
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 | €113,457 | €87,022 | -€26,435 | -23.3% |
| Fixed assets | 21/28 | €37,543 | €31,516 | -€6,026 | -16.1% |
| Tangible fixed assets | 22/27 | €37,543 | €31,516 | -€6,026 | -16.1% |
| Furniture and vehicles | 24 | €3,696 | €1,703 | -€1,993 | -53.9% |
| Other tangible fixed assets | 26 | €33,847 | €29,813 | -€4,033 | -11.9% |
| Current assets | 29/58 | €75,915 | €55,506 | -€20,409 | -26.9% |
| Stocks and contracts in progress | 3 | €37,351 | €50,792 | +€13,441 | +36.0% |
| Stocks | 30/36 | €37,351 | €50,792 | +€13,441 | +36.0% |
| Amounts receivable within one year | 40/41 | €17,834 | €165 | -€17,668 | -99.1% |
| Trade receivables | 40 | €10,568 | €14 | -€10,554 | -99.9% |
| Other amounts receivable | 41 | €7,266 | €151 | -€7,114 | -97.9% |
| Cash at bank and in hand | 54/58 | €20,730 | €4,548 | -€16,182 | -78.1% |
| Total equity and liabilities | 10/49 | €113,457 | €87,022 | -€26,435 | -23.3% |
| Equity | 10/15 | €57,375 | €46,399 | -€10,976 | -19.1% |
| Contributions | 10/11 | €7,045 | €7,045 | = | 0.0% |
| Reserves | 13 | €50,330 | €50,330 | = | 0.0% |
| Distributable reserves | 133 | €50,330 | €50,330 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€10,976 | -€10,976 | |
| Amounts payable | 17/49 | €56,082 | €40,624 | -€15,459 | -27.6% |
| Amounts payable after more than one year | 17 | €31,822 | €18,281 | -€13,541 | -42.6% |
| Financial debts | 170/4 | €31,822 | €18,281 | -€13,541 | -42.6% |
| Amounts payable within one year | 42/48 | €24,261 | €22,343 | -€1,918 | -7.9% |
| Current portion of amounts payable after more than one year | 42 | €12,902 | €13,541 | +€638 | +4.9% |
| Trade debts | 44 | €2,762 | €1,632 | -€1,130 | -40.9% |
| Suppliers | 440/4 | €2,762 | €1,632 | -€1,130 | -40.9% |
| Taxes, remuneration and social security | 45 | €8,596 | €2,481 | -€6,115 | -71.1% |
| Taxes | 450/3 | €8,596 | €2,481 | -€6,115 | -71.1% |
| Other amounts payable | 47/48 | - | €4,689 | +€4,689 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,696 | €6,026 | +€331 | +5.8% |
| Other operating charges | 640/8 | €1,397 | €5,280 | +€3,883 | +278% |
| Gross operating margin | 9900 | €41,566 | €3,110 | -€38,457 | -92.5% |
| Operating profit (loss) | 9901 | €34,474 | -€8,196 | -€42,670 | |
| Financial income | 75/76B | €37 | €14 | -€23 | -62.6% |
| Recurring financial income | 75 | €37 | €14 | -€23 | -62.6% |
| Financial charges | 65/66B | €3,433 | €2,568 | -€865 | -25.2% |
| Recurring financial charges | 65 | €3,433 | €2,568 | -€865 | -25.2% |
| Profit (loss) for the period before taxes | 9903 | €31,078 | -€10,751 | -€41,829 | |
| Income taxes | 67/77 | €10,942 | €226 | -€10,716 | -97.9% |
| Profit (loss) for the period | 9904 | €20,136 | -€10,976 | -€31,112 | |
| Profit (loss) for the period to be appropriated | 9905 | €20,136 | -€10,976 | -€31,112 |
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 14 October 2026 via checked.be.