VaBoCon: 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.
VaBoCon
Largest movements
- Current investments +€105,713
up €105,713 (+26.3%), from €402,651 to €508,365
- Cash +€51,791
up €51,791 (+200.2%), from €25,868 to €77,658
mainly Net result for the year (+€137,185) and Other debts (+€37,001)
- Receivables within one year -€24,864
down €24,864 (-49.1%), from €50,675 to €25,810
of which Trade receivables: -€30,039
- Tangible fixed assets -€12,131
down €12,131 (-13.8%), from €87,744 to €75,613
of which Furniture and vehicles: -€16,492
- Reserves +€137,185
up €137,185 (+38.9%), from €352,889 to €490,074
- Tax, wage and social debts -€58,721
down €58,721 (-45.9%), from €128,015 to €69,294
- Other debts +€37,001
up €37,001 (+67.1%), from €55,153 to €92,154
- Trade debts +€8,175
up €8,175 (+263.5%), from €3,102 to €11,277
- Gross operating margin +€11,735
up €11,735 (+5.8%), from €203,355 to €215,089
- Depreciation +€7,566
up €7,566 (+65.9%), from €11,472 to €19,038
- Financial income +€2,918
up €2,918 (+72.1%), from €4,046 to €6,964
of which Financial income: +€4,586
- Taxes -€2,226
down €2,226 (-3.5%), from €62,758 to €60,532
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 | €569,703 | €690,999 | +€121,296 | +21.3% |
| Fixed assets | 21/28 | €87,744 | €75,613 | -€12,131 | -13.8% |
| Tangible fixed assets | 22/27 | €87,744 | €75,613 | -€12,131 | -13.8% |
| Land and buildings | 22 | €4,789 | €9,599 | +€4,810 | +100.4% |
| Plant, machinery and equipment | 23 | €2,136 | €1,687 | -€449 | -21.0% |
| Furniture and vehicles | 24 | €80,819 | €64,327 | -€16,492 | -20.4% |
| Current assets | 29/58 | €481,958 | €615,385 | +€133,427 | +27.7% |
| Amounts receivable within one year | 40/41 | €50,675 | €25,810 | -€24,864 | -49.1% |
| Trade receivables | 40 | €50,379 | €20,340 | -€30,039 | -59.6% |
| Other amounts receivable | 41 | €295 | €5,470 | +€5,175 | +1753.9% |
| Current investments | 50/53 | €402,651 | €508,365 | +€105,713 | +26.3% |
| Cash at bank and in hand | 54/58 | €25,868 | €77,658 | +€51,791 | +200.2% |
| Deferred charges and accrued income | 490/1 | €2,765 | €3,552 | +€787 | +28.5% |
| Total equity and liabilities | 10/49 | €569,703 | €690,999 | +€121,296 | +21.3% |
| Equity | 10/15 | €352,889 | €490,074 | +€137,185 | +38.9% |
| Reserves | 13 | €352,889 | €490,074 | +€137,185 | +38.9% |
| Distributable reserves | 133 | €352,889 | €490,074 | +€137,185 | +38.9% |
| Amounts payable | 17/49 | €216,813 | €200,925 | -€15,888 | -7.3% |
| Amounts payable after more than one year | 17 | €23,149 | €23,149 | = | 0.0% |
| Other amounts payable | 178/9 | €23,149 | €23,149 | = | 0.0% |
| Amounts payable within one year | 42/48 | €186,270 | €172,725 | -€13,545 | -7.3% |
| Trade debts | 44 | €3,102 | €11,277 | +€8,175 | +263.5% |
| Suppliers | 440/4 | €3,102 | €11,277 | +€8,175 | +263.5% |
| Taxes, remuneration and social security | 45 | €128,015 | €69,294 | -€58,721 | -45.9% |
| Taxes | 450/3 | €128,015 | €69,294 | -€58,721 | -45.9% |
| Other amounts payable | 47/48 | €55,153 | €92,154 | +€37,001 | +67.1% |
| Accrued charges and deferred income | 492/3 | €7,394 | €5,051 | -€2,343 | -31.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,472 | €19,038 | +€7,566 | +65.9% |
| Other operating charges | 640/8 | €1,345 | €231 | -€1,114 | -82.8% |
| Gross operating margin | 9900 | €203,355 | €215,089 | +€11,735 | +5.8% |
| Operating profit (loss) | 9901 | €190,537 | €195,820 | +€5,283 | +2.8% |
| Financial income | 75/76B | €4,046 | €6,964 | +€2,918 | +72.1% |
| Recurring financial income | 75 | €2,379 | €6,964 | +€4,586 | +192.8% |
| Non-recurring financial income | 76B | €1,667 | - | -€1,667 | |
| Financial charges | 65/66B | €4,606 | €5,068 | +€461 | +10.0% |
| Recurring financial charges | 65 | €4,606 | €5,068 | +€461 | +10.0% |
| Profit (loss) for the period before taxes | 9903 | €189,977 | €197,717 | +€7,740 | +4.1% |
| Income taxes | 67/77 | €62,758 | €60,532 | -€2,226 | -3.5% |
| Profit (loss) for the period | 9904 | €127,219 | €137,185 | +€9,965 | +7.8% |
| Profit (loss) for the period to be appropriated | 9905 | €127,219 | €137,185 | +€9,965 | +7.8% |
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 10 October 2026 via checked.be.