VABA INVEST: 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.
VABA INVEST
Largest movements
- Current investments +€25,000
up €25,000 (+25.0%), from €100,000 to €125,000
- Cash +€23,038
up €23,038 (+472%), from €4,878 to €27,916
mainly Net result for the year (+€112,895) and Depreciation (+€13,384)
- Receivables within one year +€15,570
up €15,570 (+248%), from €6,275 to €21,845
- Tangible fixed assets -€13,384
down €13,384 (-2.6%), from €513,627 to €500,243
- Reserves +€112,895
up €112,895 (+95.8%), from €117,846 to €230,740
- Debts after one year -€60,000
down €60,000 (-14.3%), from €420,000 to €360,000
- Gross operating margin +€45,756
up €45,756 (+35.6%), from €128,595 to €174,351
- Taxes +€12,079
up €12,079 (+44.9%), from €26,918 to €38,998
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 | €625,415 | €675,005 | +€49,590 | +7.9% |
| Fixed assets | 21/28 | €513,627 | €500,243 | -€13,384 | -2.6% |
| Tangible fixed assets | 22/27 | €513,627 | €500,243 | -€13,384 | -2.6% |
| Land and buildings | 22 | €513,627 | €500,243 | -€13,384 | -2.6% |
| Current assets | 29/58 | €111,788 | €174,761 | +€62,974 | +56.3% |
| Amounts receivable within one year | 40/41 | €6,275 | €21,845 | +€15,570 | +248% |
| Trade receivables | 40 | €6,275 | €21,845 | +€15,570 | +248% |
| Current investments | 50/53 | €100,000 | €125,000 | +€25,000 | +25.0% |
| Cash at bank and in hand | 54/58 | €4,878 | €27,916 | +€23,038 | +472% |
| Deferred charges and accrued income | 490/1 | €634 | €0 | -€634 | -100% |
| Total equity and liabilities | 10/49 | €625,415 | €675,005 | +€49,590 | +7.9% |
| Equity | 10/15 | €122,846 | €235,740 | +€112,895 | +91.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €117,846 | €230,740 | +€112,895 | +95.8% |
| Distributable reserves | 133 | €117,846 | €230,740 | +€112,895 | +95.8% |
| Amounts payable | 17/49 | €502,569 | €439,264 | -€63,305 | -12.6% |
| Amounts payable after more than one year | 17 | €420,000 | €360,000 | -€60,000 | -14.3% |
| Financial debts | 170/4 | €420,000 | €360,000 | -€60,000 | -14.3% |
| Amounts payable within one year | 42/48 | €82,569 | €79,264 | -€3,305 | -4.0% |
| Current portion of amounts payable after more than one year | 42 | €60,000 | €60,000 | = | 0.0% |
| Trade debts | 44 | €3,039 | €101 | -€2,938 | -96.7% |
| Suppliers | 440/4 | €3,039 | €101 | -€2,938 | -96.7% |
| Taxes, remuneration and social security | 45 | €19,530 | €19,163 | -€367 | -1.9% |
| Taxes | 450/3 | €19,530 | €19,163 | -€367 | -1.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,384 | €13,384 | = | 0.0% |
| Other operating charges | 640/8 | €12,069 | €11,224 | -€845 | -7.0% |
| Gross operating margin | 9900 | €128,595 | €174,351 | +€45,756 | +35.6% |
| Operating profit (loss) | 9901 | €103,143 | €149,744 | +€46,601 | +45.2% |
| Financial income | 75/76B | €906 | €2,195 | +€1,289 | +142% |
| Recurring financial income | 75 | €906 | €2,195 | +€1,289 | +142% |
| Financial charges | 65/66B | €44 | €46 | +€3 | +6.6% |
| Recurring financial charges | 65 | €44 | €46 | +€3 | +6.6% |
| Profit (loss) for the period before taxes | 9903 | €104,005 | €151,893 | +€47,887 | +46.0% |
| Income taxes | 67/77 | €26,918 | €38,998 | +€12,079 | +44.9% |
| Profit (loss) for the period | 9904 | €77,087 | €112,895 | +€35,808 | +46.5% |
| Profit (loss) for the period to be appropriated | 9905 | €77,087 | €112,895 | +€35,808 | +46.5% |
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 29 October 2026 via checked.be.