VABATOM: what changed
Two fiscal 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.
VABATOM
Largest movements
- Financial fixed assets -€490,000
down €490,000 (-100.0%), from €490,000 to €0
- Receivables within one year +€30,334
up €30,334, from €0 to €30,334
of which Other amounts receivable: +€22,199
- Cash +€23,807
up €23,807 (+4.6%), from €522,517 to €546,323
mainly Investment in fixed assets (net) (+€484,936) and Net result for the year (+€236,343)
- Other debts -€655,742
down €655,742 (-88.6%), from €740,131 to €84,388
- Reserves +€236,343
up €236,343 (+190.8%), from €123,899 to €360,242
- Trade debts -€11,727
down €11,727 (-88.8%), from €13,214 to €1,486
- Financial income +€59,795
up €59,795 (+120774.3%), from €50 to €59,845
of which Non-recurring financial income: +€59,845
- Gross operating margin +€58,104
up €58,104 (+25.5%), from €228,138 to €286,242
- Taxes +€12,435
up €12,435 (+17.2%), from €72,483 to €84,919
- Financial charges -€4,883
down €4,883 (-28.9%), from €16,907 to €12,023
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.
Cash bridge derived
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 | €1,040,465 | €597,808 | -€442,657 | -42.5% |
| Fixed assets | 21/28 | €517,948 | €20,776 | -€497,173 | -96.0% |
| Tangible fixed assets | 22/27 | €27,948 | €20,776 | -€7,173 | -25.7% |
| Plant, machinery and equipment | 23 | €2,148 | €1,528 | -€619 | -28.8% |
| Furniture and vehicles | 24 | €25,801 | €19,247 | -€6,554 | -25.4% |
| Financial fixed assets | 28 | €490,000 | €0 | -€490,000 | -100.0% |
| Current assets | 29/58 | €522,517 | €577,032 | +€54,515 | +10.4% |
| Amounts receivable within one year | 40/41 | €0 | €30,334 | +€30,334 | |
| Trade receivables | 40 | €0 | €8,135 | +€8,135 | |
| Other amounts receivable | 41 | - | €22,199 | +€22,199 | |
| Cash at bank and in hand | 54/58 | €522,517 | €546,323 | +€23,807 | +4.6% |
| Deferred charges and accrued income | 490/1 | €0 | €375 | +€375 | |
| Total equity and liabilities | 10/49 | €1,040,465 | €597,808 | -€442,657 | -42.5% |
| Equity | 10/15 | €173,899 | €410,242 | +€236,343 | +135.9% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €123,899 | €360,242 | +€236,343 | +190.8% |
| Distributable reserves | 133 | €123,899 | €360,242 | +€236,343 | +190.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €866,566 | €187,566 | -€679,000 | -78.4% |
| Amounts payable within one year | 42/48 | €850,434 | €175,671 | -€674,763 | -79.3% |
| Financial debts | 43 | - | €581 | +€581 | |
| Credit institutions | 430/8 | - | €581 | +€581 | |
| Trade debts | 44 | €13,214 | €1,486 | -€11,727 | -88.8% |
| Suppliers | 440/4 | €13,214 | €1,486 | -€11,727 | -88.8% |
| Taxes, remuneration and social security | 45 | €97,089 | €89,215 | -€7,875 | -8.1% |
| Taxes | 450/3 | €93,389 | €89,215 | -€4,175 | -4.5% |
| Remuneration and social security | 454/9 | €3,700 | €0 | -€3,700 | -100.0% |
| Other amounts payable | 47/48 | €740,131 | €84,388 | -€655,742 | -88.6% |
| Accrued charges and deferred income | 492/3 | €16,132 | €11,895 | -€4,237 | -26.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,458 | €12,237 | -€2,222 | -15.4% |
| Other operating charges | 640/8 | €440 | €565 | +€125 | +28.3% |
| Gross operating margin | 9900 | €228,138 | €286,242 | +€58,104 | +25.5% |
| Operating profit (loss) | 9901 | €213,239 | €273,440 | +€60,201 | +28.2% |
| Financial income | 75/76B | €50 | €59,845 | +€59,795 | +120774.3% |
| Recurring financial income | 75 | €50 | €0 | -€50 | -100.0% |
| Non-recurring financial income | 76B | - | €59,845 | +€59,845 | |
| Financial charges | 65/66B | €16,907 | €12,023 | -€4,883 | -28.9% |
| Recurring financial charges | 65 | €16,907 | €12,023 | -€4,883 | -28.9% |
| Profit (loss) for the period before taxes | 9903 | €196,382 | €321,262 | +€124,880 | +63.6% |
| Income taxes | 67/77 | €72,483 | €84,919 | +€12,435 | +17.2% |
| Profit (loss) for the period | 9904 | €123,899 | €236,343 | +€112,444 | +90.8% |
| Profit (loss) for the period to be appropriated | 9905 | €123,899 | €236,343 | +€112,444 | +90.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.