VABEMA: 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.
VABEMA
Largest movements
- Receivables within one year +€20,280
up €20,280 (+2333.1%), from €869 to €21,149
of which Other amounts receivable: +€18,736
- Cash +€14,356
up €14,356 (+14.9%), from €96,504 to €110,861
mainly Net result for the year (+€38,684) and Tax, wage and social debts (+€3,514)
- Reserves +€38,684
up €38,684 (+57.0%), from €67,843 to €106,527
- Trade debts -€8,566
down €8,566 (-56.6%), from €15,125 to €6,560
- Tax, wage and social debts +€3,514
up €3,514 (+17.5%), from €20,128 to €23,642
- Gross operating margin +€2,644
up €2,644 (+5.0%), from €53,178 to €55,822
- Taxes +€1,693
up €1,693 (+12.1%), from €14,022 to €15,716
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 | €105,095 | €138,728 | +€33,632 | +32.0% |
| Fixed assets | 21/28 | €5,998 | €5,057 | -€940 | -15.7% |
| Intangible fixed assets | 21 | €1,051 | €652 | -€399 | -38.0% |
| Tangible fixed assets | 22/27 | €4,947 | €4,406 | -€541 | -10.9% |
| Plant, machinery and equipment | 23 | €4,947 | €4,406 | -€541 | -10.9% |
| Current assets | 29/58 | €99,098 | €133,671 | +€34,573 | +34.9% |
| Amounts receivable within one year | 40/41 | €869 | €21,149 | +€20,280 | +2333.1% |
| Trade receivables | 40 | €617 | €2,161 | +€1,544 | +250.5% |
| Other amounts receivable | 41 | €253 | €18,989 | +€18,736 | +7413.4% |
| Cash at bank and in hand | 54/58 | €96,504 | €110,861 | +€14,356 | +14.9% |
| Deferred charges and accrued income | 490/1 | €1,724 | €1,661 | -€64 | -3.7% |
| Total equity and liabilities | 10/49 | €105,095 | €138,728 | +€33,632 | +32.0% |
| Equity | 10/15 | €69,843 | €108,527 | +€38,684 | +55.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €67,843 | €106,527 | +€38,684 | +57.0% |
| Distributable reserves | 133 | €67,843 | €106,527 | +€38,684 | +57.0% |
| Amounts payable | 17/49 | €35,253 | €30,201 | -€5,052 | -14.3% |
| Amounts payable within one year | 42/48 | €35,253 | €30,201 | -€5,052 | -14.3% |
| Trade debts | 44 | €15,125 | €6,560 | -€8,566 | -56.6% |
| Suppliers | 440/4 | €15,125 | €6,560 | -€8,566 | -56.6% |
| Taxes, remuneration and social security | 45 | €20,128 | €23,642 | +€3,514 | +17.5% |
| Taxes | 450/3 | €20,128 | €23,642 | +€3,514 | +17.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €498 | €940 | +€442 | +88.8% |
| Other operating charges | 640/8 | €954 | €585 | -€368 | -38.6% |
| Gross operating margin | 9900 | €53,178 | €55,822 | +€2,644 | +5.0% |
| Operating profit (loss) | 9901 | €51,726 | €54,297 | +€2,570 | +5.0% |
| Financial income | 75/76B | €1 | €295 | +€293 | +22572.3% |
| Recurring financial income | 75 | €1 | €295 | +€293 | +22572.3% |
| Financial charges | 65/66B | €161 | €191 | +€30 | +18.9% |
| Recurring financial charges | 65 | €161 | €191 | +€30 | +18.9% |
| Profit (loss) for the period before taxes | 9903 | €51,567 | €54,400 | +€2,833 | +5.5% |
| Income taxes | 67/77 | €14,022 | €15,716 | +€1,693 | +12.1% |
| Profit (loss) for the period | 9904 | €37,544 | €38,684 | +€1,140 | +3.0% |
| Profit (loss) for the period to be appropriated | 9905 | €37,544 | €38,684 | +€1,140 | +3.0% |
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 5 October 2026 via checked.be.