VABO MANAGEMENT: 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 MANAGEMENT
Largest movements
- Tangible fixed assets -€27,482
down €27,482 (-23.3%), from €118,159 to €90,678
of which Other tangible fixed assets: -€24,921
- Cash +€18,480
up €18,480 (+97.6%), from €18,934 to €37,414
mainly Investment in fixed assets (net) (+€24,921) and Net result for the year (+€10,655)
- Current investments +€7,476
up €7,476 (+5.3%), from €140,841 to €148,317
- Trade debts -€11,053
no longer reported in 2025 (was €11,053)
- Profit (loss) carried forward +€10,655
up €10,655 (+7.0%), from €152,735 to €163,391
- Gross operating margin +€8,606
up €8,606 (+470%), from €1,829 to €10,435
- Financial income +€5,787
up €5,787 (+73.7%), from €7,854 to €13,641
- Other operating charges +€5,013
up €5,013 (+96.0%), from €5,224 to €10,237
- Depreciation -€347
down €347 (-11.9%), from €2,907 to €2,560
- Taxes +€228
no longer reported in 2025 (was -€228)
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 | €280,283 | €279,886 | -€398 | -0.1% |
| Fixed assets | 21/28 | €118,159 | €90,678 | -€27,482 | -23.3% |
| Tangible fixed assets | 22/27 | €118,159 | €90,678 | -€27,482 | -23.3% |
| Land and buildings | 22 | €86,763 | €86,763 | = | 0.0% |
| Plant, machinery and equipment | 23 | €6,475 | €3,915 | -€2,560 | -39.5% |
| Other tangible fixed assets | 26 | €24,921 | - | -€24,921 | |
| Current assets | 29/58 | €162,124 | €189,208 | +€27,084 | +16.7% |
| Amounts receivable within one year | 40/41 | - | €1,065 | +€1,065 | |
| Other amounts receivable | 41 | - | €1,065 | +€1,065 | |
| Current investments | 50/53 | €140,841 | €148,317 | +€7,476 | +5.3% |
| Cash at bank and in hand | 54/58 | €18,934 | €37,414 | +€18,480 | +97.6% |
| Deferred charges and accrued income | 490/1 | €2,350 | €2,412 | +€62 | +2.6% |
| Total equity and liabilities | 10/49 | €280,283 | €279,886 | -€398 | -0.1% |
| Equity | 10/15 | €269,230 | €279,886 | +€10,655 | +4.0% |
| Contributions | 10/11 | €88,500 | €88,500 | = | 0.0% |
| Reserves | 13 | €27,995 | €27,995 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,800 | €8,800 | = | 0.0% |
| Reserves not available under the articles | 1311 | €8,800 | €8,800 | = | 0.0% |
| Distributable reserves | 133 | €19,195 | €19,195 | = | 0.0% |
| Profit (loss) carried forward | 14 | €152,735 | €163,391 | +€10,655 | +7.0% |
| Amounts payable | 17/49 | €11,053 | - | -€11,053 | |
| Amounts payable within one year | 42/48 | €11,053 | - | -€11,053 | |
| Trade debts | 44 | €11,053 | - | -€11,053 | |
| Suppliers | 440/4 | €11,053 | - | -€11,053 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,907 | €2,560 | -€347 | -11.9% |
| Other operating charges | 640/8 | €5,224 | €10,237 | +€5,013 | +96.0% |
| Gross operating margin | 9900 | €1,829 | €10,435 | +€8,606 | +470% |
| Operating profit (loss) | 9901 | -€6,302 | -€2,362 | +€3,939 | +62.5% |
| Financial income | 75/76B | €7,854 | €13,641 | +€5,787 | +73.7% |
| Recurring financial income | 75 | €7,854 | €13,641 | +€5,787 | +73.7% |
| Financial charges | 65/66B | €519 | €624 | +€105 | +20.1% |
| Recurring financial charges | 65 | €519 | €624 | +€105 | +20.1% |
| Profit (loss) for the period before taxes | 9903 | €1,033 | €10,655 | +€9,622 | +931% |
| Income taxes | 67/77 | -€228 | - | +€228 | |
| Profit (loss) for the period | 9904 | €1,261 | €10,655 | +€9,394 | +745% |
| Profit (loss) for the period to be appropriated | 9905 | €1,261 | €10,655 | +€9,394 | +745% |
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 14 October 2026 via checked.be.