VABE: 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.
VABE
Largest movements
- Tangible fixed assets -€29,785
down €29,785 (-7.3%), from €406,783 to €376,999
of which Furniture and vehicles: -€22,984
- Cash +€18,294
up €18,294 (+99.0%), from €18,481 to €36,776
mainly Depreciation (+€32,751) and Net result for the year (+€12,317)
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€12,282
down €12,282 (-15.0%), from €81,921 to €69,639
- Taxes -€3,594
down €3,594 (-36.9%), from €9,747 to €6,153
- Depreciation +€2,447
up €2,447 (+8.1%), from €30,304 to €32,751
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 | €515,743 | €507,108 | -€8,635 | -1.7% |
| Fixed assets | 21/28 | €406,783 | €376,999 | -€29,785 | -7.3% |
| Tangible fixed assets | 22/27 | €406,783 | €376,999 | -€29,785 | -7.3% |
| Land and buildings | 22 | €319,567 | €312,567 | -€7,000 | -2.2% |
| Plant, machinery and equipment | 23 | €7,784 | €8,386 | +€602 | +7.7% |
| Furniture and vehicles | 24 | €72,027 | €49,043 | -€22,984 | -31.9% |
| Other tangible fixed assets | 26 | €7,405 | €7,003 | -€403 | -5.4% |
| Current assets | 29/58 | €108,959 | €130,109 | +€21,150 | +19.4% |
| Amounts receivable after more than one year | 29 | €77,274 | €78,046 | +€773 | +1.0% |
| Other amounts receivable | 291 | €77,274 | €78,046 | +€773 | +1.0% |
| Amounts receivable within one year | 40/41 | €10,890 | €12,737 | +€1,847 | +17.0% |
| Trade receivables | 40 | €10,890 | €10,890 | = | 0.0% |
| Other amounts receivable | 41 | - | €1,847 | +€1,847 | |
| Cash at bank and in hand | 54/58 | €18,481 | €36,776 | +€18,294 | +99.0% |
| Deferred charges and accrued income | 490/1 | €2,314 | €2,550 | +€236 | +10.2% |
| Total equity and liabilities | 10/49 | €515,743 | €507,108 | -€8,635 | -1.7% |
| Equity | 10/15 | €167,286 | €165,621 | -€1,665 | -1.0% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Reserves | 13 | €166,786 | €165,121 | -€1,665 | -1.0% |
| Distributable reserves | 133 | €166,786 | €165,121 | -€1,665 | -1.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €348,457 | €341,487 | -€6,970 | -2.0% |
| Amounts payable after more than one year | 17 | €314,531 | €311,804 | -€2,727 | -0.9% |
| Financial debts | 170/4 | €239,300 | €219,892 | -€19,408 | -8.1% |
| Other amounts payable | 178/9 | €75,231 | €91,912 | +€16,681 | +22.2% |
| Amounts payable within one year | 42/48 | €32,851 | €28,608 | -€4,243 | -12.9% |
| Current portion of amounts payable after more than one year | 42 | €23,206 | €19,408 | -€3,798 | -16.4% |
| Trade debts | 44 | €466 | €204 | -€262 | -56.2% |
| Suppliers | 440/4 | €466 | €204 | -€262 | -56.2% |
| Taxes, remuneration and social security | 45 | €8,279 | €8,096 | -€183 | -2.2% |
| Taxes | 450/3 | €8,279 | €8,096 | -€183 | -2.2% |
| Other amounts payable | 47/48 | €900 | €900 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €1,075 | €1,075 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,304 | €32,751 | +€2,447 | +8.1% |
| Other operating charges | 640/8 | €2,143 | €1,879 | -€264 | -12.3% |
| Gross operating margin | 9900 | €81,921 | €69,639 | -€12,282 | -15.0% |
| Operating profit (loss) | 9901 | €49,474 | €35,008 | -€14,466 | -29.2% |
| Financial income | 75/76B | €588 | €775 | +€187 | +31.8% |
| Recurring financial income | 75 | €588 | €775 | +€187 | +31.8% |
| Financial charges | 65/66B | €17,842 | €17,314 | -€528 | -3.0% |
| Recurring financial charges | 65 | €17,842 | €17,314 | -€528 | -3.0% |
| Profit (loss) for the period before taxes | 9903 | €32,220 | €18,470 | -€13,750 | -42.7% |
| Income taxes | 67/77 | €9,747 | €6,153 | -€3,594 | -36.9% |
| Profit (loss) for the period | 9904 | €22,473 | €12,317 | -€10,157 | -45.2% |
| Profit (loss) for the period to be appropriated | 9905 | €22,473 | €12,317 | -€10,157 | -45.2% |
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 11 October 2026 via checked.be.