VABEKO: 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.
VABEKO
Largest movements
- Tangible fixed assets -€60,827
down €60,827 (-16.8%), from €362,816 to €301,990
of which Plant, machinery and equipment: -€49,898
- Receivables within one year +€30,190
up €30,190 (+21.5%), from €140,271 to €170,461
of which Trade receivables: +€44,341
- Stocks and contracts -€9,076
down €9,076 (-58.3%), from €15,559 to €6,484
- Trade debts -€106,269
down €106,269 (-44.8%), from €237,330 to €131,061
- Reserves +€34,589
up €34,589 (+51.0%), from €67,851 to €102,440
of which Distributable reserves: +€34,589
- Debts after one year +€27,000
up €27,000 (+17.1%), from €158,000 to €185,000
of which Other amounts payable: +€185,000
- Tax, wage and social debts +€9,348
new in 2025: €9,348
- Gross operating margin +€47,951
up €47,951 (+73.2%), from €65,552 to €113,503
- Taxes +€20,330
up €20,330, from -€8,800 to €11,530
- Depreciation -€7,248
down €7,248 (-10.6%), from €68,075 to €60,827
- Financial charges -€1,462
down €1,462 (-21.9%), from €6,660 to €5,198
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 | €567,315 | €530,444 | -€36,871 | -6.5% |
| Fixed assets | 21/28 | €362,816 | €301,990 | -€60,827 | -16.8% |
| Tangible fixed assets | 22/27 | €362,816 | €301,990 | -€60,827 | -16.8% |
| Land and buildings | 22 | €66,849 | €55,920 | -€10,929 | -16.3% |
| Plant, machinery and equipment | 23 | €295,968 | €246,069 | -€49,898 | -16.9% |
| Current assets | 29/58 | €204,498 | €228,454 | +€23,956 | +11.7% |
| Stocks and contracts in progress | 3 | €15,559 | €6,484 | -€9,076 | -58.3% |
| Stocks | 30/36 | €15,559 | €6,484 | -€9,076 | -58.3% |
| Amounts receivable within one year | 40/41 | €140,271 | €170,461 | +€30,190 | +21.5% |
| Trade receivables | 40 | €126,105 | €170,446 | +€44,341 | +35.2% |
| Other amounts receivable | 41 | €14,166 | €15 | -€14,151 | -99.9% |
| Cash at bank and in hand | 54/58 | €44,183 | €45,922 | +€1,738 | +3.9% |
| Deferred charges and accrued income | 490/1 | €4,485 | €5,588 | +€1,103 | +24.6% |
| Total equity and liabilities | 10/49 | €567,315 | €530,444 | -€36,871 | -6.5% |
| Equity | 10/15 | €165,851 | €200,440 | +€34,589 | +20.9% |
| Contributions | 10/11 | €98,000 | €98,000 | = | 0.0% |
| Capital | 10 | €98,000 | €98,000 | = | 0.0% |
| Issued capital | 100 | €98,000 | €98,000 | = | 0.0% |
| Reserves | 13 | €67,851 | €102,440 | +€34,589 | +51.0% |
| Non-distributable reserves | 130/1 | €9,800 | €9,800 | = | 0.0% |
| Legal reserve | 130 | €9,800 | €9,800 | = | 0.0% |
| Tax-exempt reserves | 132 | €8,800 | €8,800 | = | 0.0% |
| Distributable reserves | 133 | €49,251 | €83,840 | +€34,589 | +70.2% |
| Amounts payable | 17/49 | €401,464 | €330,004 | -€71,460 | -17.8% |
| Amounts payable after more than one year | 17 | €158,000 | €185,000 | +€27,000 | +17.1% |
| Financial debts | 170/4 | €158,000 | €0 | -€158,000 | -100.0% |
| Other amounts payable | 178/9 | - | €185,000 | +€185,000 | |
| Amounts payable within one year | 42/48 | €237,330 | €140,409 | -€96,921 | -40.8% |
| Trade debts | 44 | €237,330 | €131,061 | -€106,269 | -44.8% |
| Suppliers | 440/4 | €237,330 | €131,061 | -€106,269 | -44.8% |
| Taxes, remuneration and social security | 45 | - | €9,348 | +€9,348 | |
| Taxes | 450/3 | - | €9,348 | +€9,348 | |
| Accrued charges and deferred income | 492/3 | €6,133 | €4,595 | -€1,539 | -25.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,075 | €60,827 | -€7,248 | -10.6% |
| Other operating charges | 640/8 | €1,554 | €1,359 | -€195 | -12.6% |
| Gross operating margin | 9900 | €65,552 | €113,503 | +€47,951 | +73.2% |
| Operating profit (loss) | 9901 | -€4,077 | €51,317 | +€55,394 | |
| Financial charges | 65/66B | €6,660 | €5,198 | -€1,462 | -21.9% |
| Recurring financial charges | 65 | €6,660 | €5,198 | -€1,462 | -21.9% |
| Profit (loss) for the period before taxes | 9903 | -€10,737 | €46,118 | +€56,856 | |
| Income taxes | 67/77 | -€8,800 | €11,530 | +€20,330 | |
| Profit (loss) for the period | 9904 | -€1,937 | €34,589 | +€36,526 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,937 | €34,589 | +€36,526 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.