VaBog: 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.
VaBog
Largest movements
- Cash +€67,060
up €67,060 (+700%), from €9,580 to €76,640
mainly Net result for the year (+€47,672) and Stocks and contracts (+€37,731)
- Stocks and contracts -€37,731
down €37,731 (-73.3%), from €51,471 to €13,740
- Receivables after one year -€32,051
down €32,051 (-33.3%), from €96,233 to €64,182
- Receivables within one year +€13,139
up €13,139 (+25.3%), from €51,892 to €65,031
of which Other amounts receivable: +€8,166
- Tax, wage and social debts +€12,637
up €12,637 (+286%), from €4,423 to €17,060
- Trade debts -€6,712
down €6,712 (-37.5%), from €17,897 to €11,185
- Reserves +€4,033
up €4,033 (+1.8%), from €225,271 to €229,304
- Gross operating margin +€27,368
up €27,368 (+48.8%), from €56,112 to €83,480
- Taxes +€9,035
up €9,035 (+84.9%), from €10,647 to €19,681
- Other operating charges -€6,345
down €6,345 (-83.8%), from €7,574 to €1,228
- Depreciation +€2,931
up €2,931 (+19.0%), from €15,413 to €18,345
- Financial income -€867
down €867 (-19.8%), from €4,386 to €3,519
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 | €253,791 | €263,749 | +€9,958 | +3.9% |
| Fixed assets | 21/28 | €37,825 | €37,891 | +€66 | +0.2% |
| Tangible fixed assets | 22/27 | €37,825 | €37,891 | +€66 | +0.2% |
| Plant, machinery and equipment | 23 | €7,377 | €5,603 | -€1,774 | -24.1% |
| Furniture and vehicles | 24 | €17,757 | €21,033 | +€3,277 | +18.5% |
| Other tangible fixed assets | 26 | €12,691 | €11,254 | -€1,437 | -11.3% |
| Current assets | 29/58 | €215,966 | €225,859 | +€9,892 | +4.6% |
| Amounts receivable after more than one year | 29 | €96,233 | €64,182 | -€32,051 | -33.3% |
| Other amounts receivable | 291 | €96,233 | €64,182 | -€32,051 | -33.3% |
| Stocks and contracts in progress | 3 | €51,471 | €13,740 | -€37,731 | -73.3% |
| Stocks | 30/36 | €51,471 | €13,740 | -€37,731 | -73.3% |
| Amounts receivable within one year | 40/41 | €51,892 | €65,031 | +€13,139 | +25.3% |
| Trade receivables | 40 | €12,814 | €17,787 | +€4,973 | +38.8% |
| Other amounts receivable | 41 | €39,078 | €47,243 | +€8,166 | +20.9% |
| Cash at bank and in hand | 54/58 | €9,580 | €76,640 | +€67,060 | +700% |
| Deferred charges and accrued income | 490/1 | €6,790 | €6,266 | -€524 | -7.7% |
| Total equity and liabilities | 10/49 | €253,791 | €263,749 | +€9,958 | +3.9% |
| Equity | 10/15 | €231,471 | €235,504 | +€4,033 | +1.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €225,271 | €229,304 | +€4,033 | +1.8% |
| Distributable reserves | 133 | €225,271 | €229,304 | +€4,033 | +1.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €22,320 | €28,245 | +€5,925 | +26.5% |
| Amounts payable within one year | 42/48 | €22,320 | €28,245 | +€5,925 | +26.5% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €17,897 | €11,185 | -€6,712 | -37.5% |
| Suppliers | 440/4 | €17,897 | €11,185 | -€6,712 | -37.5% |
| Taxes, remuneration and social security | 45 | €4,423 | €17,060 | +€12,637 | +286% |
| Taxes | 450/3 | €4,423 | €17,060 | +€12,637 | +286% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €2,500 | +€2,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,413 | €18,345 | +€2,931 | +19.0% |
| Other operating charges | 640/8 | €7,574 | €1,228 | -€6,345 | -83.8% |
| Gross operating margin | 9900 | €56,112 | €83,480 | +€27,368 | +48.8% |
| Operating profit (loss) | 9901 | €33,126 | €63,907 | +€30,782 | +92.9% |
| Financial income | 75/76B | €4,386 | €3,519 | -€867 | -19.8% |
| Recurring financial income | 75 | €4,386 | €3,519 | -€867 | -19.8% |
| Financial charges | 65/66B | €252 | €72 | -€180 | -71.2% |
| Recurring financial charges | 65 | €252 | €72 | -€180 | -71.2% |
| Profit (loss) for the period before taxes | 9903 | €37,260 | €67,354 | +€30,094 | +80.8% |
| Income taxes | 67/77 | €10,647 | €19,681 | +€9,035 | +84.9% |
| Profit (loss) for the period | 9904 | €26,613 | €47,672 | +€21,060 | +79.1% |
| Profit (loss) for the period to be appropriated | 9905 | €26,613 | €47,672 | +€21,060 | +79.1% |
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 14 October 2026 via checked.be.