VABOCRA: 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.
VABOCRA
Largest movements
- Stocks and contracts +€51,480
up €51,480 (+49.8%), from €103,280 to €154,760
- Current investments +€24,262
up €24,262 (+69.1%), from €35,094 to €59,356
- Tangible fixed assets -€20,206
down €20,206 (-4.0%), from €499,826 to €479,621
of which Land and buildings: -€19,144
- Receivables within one year -€19,253
down €19,253 (-22.8%), from €84,557 to €65,304
of which Trade receivables: -€18,800
- Advances received +€74,437
up €74,437 (+89.8%), from €82,926 to €157,363
- Reserves -€12,637
down €12,637 (-4.4%), from €284,296 to €271,659
of which Tax-exempt reserves: -€12,637
- Profit (loss) carried forward -€8,823
down €8,823 (-89.0%), from -€9,918 to -€18,741
- Gross operating margin -€17,098
down €17,098, from €11,520 to -€5,578
- Taxes -€2,501
down €2,501 (-93.5%), from €2,676 to €174
- Other operating charges -€2,414
no longer reported in 2025 (was €2,414)
- Depreciation +€504
up €504 (+2.6%), from €19,701 to €20,206
- Financial income +€129
up €129 (+97.2%), from €133 to €262
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 | €724,098 | €763,216 | +€39,118 | +5.4% |
| Fixed assets | 21/28 | €499,975 | €479,769 | -€20,206 | -4.0% |
| Tangible fixed assets | 22/27 | €499,826 | €479,621 | -€20,206 | -4.0% |
| Land and buildings | 22 | €495,865 | €476,721 | -€19,144 | -3.9% |
| Plant, machinery and equipment | 23 | €633 | €377 | -€256 | -40.4% |
| Furniture and vehicles | 24 | €3,328 | €2,522 | -€806 | -24.2% |
| Financial fixed assets | 28 | €148 | €148 | = | 0.0% |
| Current assets | 29/58 | €224,124 | €283,447 | +€59,323 | +26.5% |
| Stocks and contracts in progress | 3 | €103,280 | €154,760 | +€51,480 | +49.8% |
| Contracts in progress | 37 | €103,280 | €154,760 | +€51,480 | +49.8% |
| Amounts receivable within one year | 40/41 | €84,557 | €65,304 | -€19,253 | -22.8% |
| Trade receivables | 40 | €69,004 | €50,204 | -€18,800 | -27.2% |
| Other amounts receivable | 41 | €15,553 | €15,100 | -€453 | -2.9% |
| Current investments | 50/53 | €35,094 | €59,356 | +€24,262 | +69.1% |
| Cash at bank and in hand | 54/58 | €1,192 | €4,027 | +€2,834 | +237.7% |
| Total equity and liabilities | 10/49 | €724,098 | €763,216 | +€39,118 | +5.4% |
| Equity | 10/15 | €475,792 | €454,332 | -€21,460 | -4.5% |
| Contributions | 10/11 | €201,413 | €201,413 | = | 0.0% |
| Capital | 10 | €201,413 | €201,413 | = | 0.0% |
| Issued capital | 100 | €201,413 | €201,413 | = | 0.0% |
| Reserves | 13 | €284,296 | €271,659 | -€12,637 | -4.4% |
| Non-distributable reserves | 130/1 | €15,764 | €15,764 | = | 0.0% |
| Legal reserve | 130 | €15,764 | €15,764 | = | 0.0% |
| Tax-exempt reserves | 132 | €231,844 | €219,208 | -€12,637 | -5.5% |
| Distributable reserves | 133 | €36,687 | €36,687 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,918 | -€18,741 | -€8,823 | -89.0% |
| Provisions and deferred taxes | 16 | €117,623 | €111,116 | -€6,507 | -5.5% |
| Deferred taxes | 168 | €117,623 | €111,116 | -€6,507 | -5.5% |
| Amounts payable | 17/49 | €130,683 | €197,768 | +€67,084 | +51.3% |
| Amounts payable within one year | 42/48 | €130,683 | €197,768 | +€67,084 | +51.3% |
| Trade debts | 44 | €8,187 | €7,540 | -€646 | -7.9% |
| Suppliers | 440/4 | €8,187 | €7,540 | -€646 | -7.9% |
| Advances received on contracts in progress | 46 | €82,926 | €157,363 | +€74,437 | +89.8% |
| Taxes, remuneration and social security | 45 | €2,676 | €395 | -€2,281 | -85.2% |
| Taxes | 450/3 | €2,676 | €395 | -€2,281 | -85.2% |
| Other amounts payable | 47/48 | €36,895 | €32,469 | -€4,426 | -12.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,701 | €20,206 | +€504 | +2.6% |
| Other operating charges | 640/8 | €2,414 | - | -€2,414 | |
| Non-recurring operating charges | 66A | - | €2,271 | +€2,271 | |
| Gross operating margin | 9900 | €11,520 | -€5,578 | -€17,098 | |
| Operating profit (loss) | 9901 | -€10,596 | -€28,054 | -€17,458 | -164.8% |
| Financial income | 75/76B | €133 | €262 | +€129 | +97.2% |
| Recurring financial income | 75 | €133 | €262 | +€129 | +97.2% |
| Financial charges | 65/66B | €0 | €0 | +€0 | +11.1% |
| Recurring financial charges | 65 | €0 | €0 | +€0 | +11.1% |
| Profit (loss) for the period before taxes | 9903 | -€10,463 | -€27,792 | -€17,329 | -165.6% |
| Transfer from deferred taxes | 780 | €6,507 | €6,507 | = | 0.0% |
| Income taxes | 67/77 | €2,676 | €174 | -€2,501 | -93.5% |
| Profit (loss) for the period | 9904 | -€6,632 | -€21,460 | -€14,828 | -223.6% |
| Transfer from tax-exempt reserves | 789 | €12,637 | €12,637 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €6,005 | -€8,823 | -€14,828 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.