Vabo: 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.
Vabo
Largest movements
- Tangible fixed assets +€49,341
up €49,341 (+69.2%), from €71,299 to €120,641
of which Furniture and vehicles: +€52,429
- Cash +€20,595
up €20,595 (+752%), from €2,740 to €23,336
mainly Debts after one year (+€27,661) and Depreciation (+€22,864)
- Receivables within one year -€15,425
down €15,425 (-44.9%), from €34,360 to €18,935
of which Trade receivables: -€15,394
- Stocks and contracts -€1,800
down €1,800 (-10.6%), from €16,991 to €15,191
- Debts after one year +€27,661
up €27,661 (+22.6%), from €122,369 to €150,029
of which Financial debts: +€39,898
- Profit (loss) carried forward +€15,246
up €15,246 (+16.2%), from -€94,290 to -€79,044
- Current portion of long-term debt +€6,499
up €6,499 (+48.5%), from €13,403 to €19,902
- Tax, wage and social debts +€4,918
new in 2025: €4,918
of which Remuneration and social security: +€2,506
- Short-term financial debts -€3,465
down €3,465 (-40.0%), from €8,665 to €5,200
- Gross operating margin +€3,148
up €3,148 (+6.7%), from €47,263 to €50,411
- Depreciation +€1,791
up €1,791 (+8.5%), from €21,073 to €22,864
- Financial charges +€1,059
up €1,059 (+24.2%), from €4,369 to €5,428
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 | €126,760 | €179,531 | +€52,771 | +41.6% |
| Fixed assets | 21/28 | €71,299 | €120,641 | +€49,341 | +69.2% |
| Tangible fixed assets | 22/27 | €71,299 | €120,641 | +€49,341 | +69.2% |
| Plant, machinery and equipment | 23 | €32,115 | €29,028 | -€3,087 | -9.6% |
| Furniture and vehicles | 24 | €39,185 | €91,613 | +€52,429 | +134% |
| Current assets | 29/58 | €55,461 | €58,891 | +€3,430 | +6.2% |
| Stocks and contracts in progress | 3 | €16,991 | €15,191 | -€1,800 | -10.6% |
| Stocks | 30/36 | €16,991 | €15,191 | -€1,800 | -10.6% |
| Amounts receivable within one year | 40/41 | €34,360 | €18,935 | -€15,425 | -44.9% |
| Trade receivables | 40 | €34,314 | €18,920 | -€15,394 | -44.9% |
| Other amounts receivable | 41 | €46 | €15 | -€30 | -66.3% |
| Cash at bank and in hand | 54/58 | €2,740 | €23,336 | +€20,595 | +752% |
| Deferred charges and accrued income | 490/1 | €1,370 | €1,429 | +€60 | +4.4% |
| Total equity and liabilities | 10/49 | €126,760 | €179,531 | +€52,771 | +41.6% |
| Equity | 10/15 | -€74,290 | -€59,044 | +€15,246 | +20.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€94,290 | -€79,044 | +€15,246 | +16.2% |
| Amounts payable | 17/49 | €201,050 | €238,576 | +€37,526 | +18.7% |
| Amounts payable after more than one year | 17 | €122,369 | €150,029 | +€27,661 | +22.6% |
| Financial debts | 170/4 | €34,533 | €74,431 | +€39,898 | +116% |
| Other amounts payable | 178/9 | €87,836 | €75,598 | -€12,238 | -13.9% |
| Amounts payable within one year | 42/48 | €78,681 | €88,547 | +€9,865 | +12.5% |
| Current portion of amounts payable after more than one year | 42 | €13,403 | €19,902 | +€6,499 | +48.5% |
| Financial debts | 43 | €8,665 | €5,200 | -€3,465 | -40.0% |
| Credit institutions | 430/8 | €8,665 | €5,200 | -€3,465 | -40.0% |
| Trade debts | 44 | €56,614 | €58,527 | +€1,913 | +3.4% |
| Suppliers | 440/4 | €56,614 | €58,527 | +€1,913 | +3.4% |
| Taxes, remuneration and social security | 45 | - | €4,918 | +€4,918 | |
| Taxes | 450/3 | - | €2,412 | +€2,412 | |
| Remuneration and social security | 454/9 | - | €2,506 | +€2,506 | |
| Non-recurring operating income | 76A | €22,000 | - | -€22,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,073 | €22,864 | +€1,791 | +8.5% |
| Other operating charges | 640/8 | €445 | €363 | -€82 | -18.4% |
| Non-recurring operating charges | 66A | - | €7,045 | +€7,045 | |
| Gross operating margin | 9900 | €47,263 | €50,411 | +€3,148 | +6.7% |
| Operating profit (loss) | 9901 | €25,744 | €20,139 | -€5,606 | -21.8% |
| Financial income | 75/76B | €665 | €535 | -€129 | -19.5% |
| Recurring financial income | 75 | €665 | €535 | -€129 | -19.5% |
| Financial charges | 65/66B | €4,369 | €5,428 | +€1,059 | +24.2% |
| Recurring financial charges | 65 | €4,369 | €5,428 | +€1,059 | +24.2% |
| Profit (loss) for the period before taxes | 9903 | €22,040 | €15,246 | -€6,795 | -30.8% |
| Profit (loss) for the period | 9904 | €22,040 | €15,246 | -€6,795 | -30.8% |
| Profit (loss) for the period to be appropriated | 9905 | €22,040 | €15,246 | -€6,795 | -30.8% |
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 21 October 2026 via checked.be.