VAAT 1927: 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.
VAAT 1927
Largest movements
- Receivables within one year -€17,735
down €17,735 (-34.9%), from €50,851 to €33,116
of which Trade receivables: -€20,087
- Cash -€8,281
down €8,281 (-55.5%), from €14,912 to €6,631
mainly Net result for the year (-€74,018) and Tax, wage and social debts (-€31,065)
- Trade debts +€78,935
up €78,935 (+106%), from €74,675 to €153,611
- Profit (loss) carried forward -€74,018
down €74,018 (-113%), from -€65,541 to -€139,559
- Tax, wage and social debts -€31,065
down €31,065 (-84.1%), from €36,956 to €5,891
of which Taxes: -€18,738
- Gross operating margin -€40,781
down €40,781 (-54.7%), from €74,567 to €33,786
- Staff costs +€25,586
up €25,586 (+33.0%), from €77,482 to €103,068
- Other operating charges -€901
down €901 (-56.5%), from €1,595 to €694
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 | €66,091 | €39,943 | -€26,148 | -39.6% |
| Fixed assets | 21/28 | €185 | €185 | = | 0.0% |
| Financial fixed assets | 28 | €185 | €185 | = | 0.0% |
| Current assets | 29/58 | €65,906 | €39,758 | -€26,148 | -39.7% |
| Amounts receivable within one year | 40/41 | €50,851 | €33,116 | -€17,735 | -34.9% |
| Trade receivables | 40 | €50,602 | €30,515 | -€20,087 | -39.7% |
| Other amounts receivable | 41 | €249 | €2,601 | +€2,352 | +943% |
| Cash at bank and in hand | 54/58 | €14,912 | €6,631 | -€8,281 | -55.5% |
| Deferred charges and accrued income | 490/1 | €143 | €11 | -€132 | -92.3% |
| Total equity and liabilities | 10/49 | €66,091 | €39,943 | -€26,148 | -39.6% |
| Equity | 10/15 | -€45,541 | -€119,559 | -€74,018 | -163% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€65,541 | -€139,559 | -€74,018 | -113% |
| Amounts payable | 17/49 | €111,632 | €159,502 | +€47,870 | +42.9% |
| Amounts payable within one year | 42/48 | €111,632 | €159,502 | +€47,870 | +42.9% |
| Trade debts | 44 | €74,675 | €153,611 | +€78,935 | +106% |
| Suppliers | 440/4 | €74,675 | €153,611 | +€78,935 | +106% |
| Taxes, remuneration and social security | 45 | €36,956 | €5,891 | -€31,065 | -84.1% |
| Taxes | 450/3 | €24,629 | €5,891 | -€18,738 | -76.1% |
| Remuneration and social security | 454/9 | €12,327 | €0 | -€12,327 | -100% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €77,482 | €103,068 | +€25,586 | +33.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€894 | -€294 | +€600 | +67.1% |
| Other operating charges | 640/8 | €1,595 | €694 | -€901 | -56.5% |
| Gross operating margin | 9900 | €74,567 | €33,786 | -€40,781 | -54.7% |
| Operating profit (loss) | 9901 | -€3,616 | -€69,681 | -€66,066 | -1,827% |
| Financial income | 75/76B | €90 | €185 | +€95 | +105% |
| Recurring financial income | 75 | €90 | €185 | +€95 | +105% |
| Financial charges | 65/66B | €4,336 | €4,372 | +€37 | +0.8% |
| Recurring financial charges | 65 | €4,336 | €4,372 | +€37 | +0.8% |
| Profit (loss) for the period before taxes | 9903 | -€7,861 | -€73,869 | -€66,008 | -840% |
| Income taxes | 67/77 | €388 | €149 | -€239 | -61.6% |
| Profit (loss) for the period | 9904 | -€8,249 | -€74,018 | -€65,769 | -797% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,249 | -€74,018 | -€65,769 | -797% |
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 26 October 2026 via checked.be.