VABRA: what changed
Two fiscal 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.
VABRA
Largest movements
- Cash -€90,891
down €90,891 (-80.8%), from €112,507 to €21,616
mainly Net result for the year (-€155,040) and Investment in fixed assets (net) (-€87,197)
- Other debts +€155,830
up €155,830 (+3.6%), from €4.3m to €4.4m
- Profit (loss) carried forward -€155,040
down €155,040 (-13.6%), from -€1.1m to -€1.3m
- Debts after one year -€82,214
down €82,214 (-24.9%), from €330,680 to €248,466
- Gross operating margin -€288,197
down €288,197, from €276,514 to -€11,683
- Financial charges -€15,316
down €15,316 (-88.7%), from €17,266 to €1,950
- Financial income -€4,046
down €4,046 (-99.8%), from €4,054 to €8
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 | €4,841,284 | €4,715,186 | -€126,098 | -2.6% |
| Fixed assets | 21/28 | €4,185,862 | €4,145,477 | -€40,385 | -1.0% |
| Tangible fixed assets | 22/27 | €4,185,862 | €4,145,477 | -€40,385 | -1.0% |
| Land and buildings | 22 | €4,138,552 | €4,093,208 | -€45,344 | -1.1% |
| Plant, machinery and equipment | 23 | €41,520 | €39,269 | -€2,251 | -5.4% |
| Furniture and vehicles | 24 | €5,790 | €6,115 | +€325 | +5.6% |
| Other tangible fixed assets | 26 | - | €6,885 | +€6,885 | |
| Current assets | 29/58 | €655,422 | €569,709 | -€85,712 | -13.1% |
| Stocks and contracts in progress | 3 | €415,180 | €415,180 | = | 0.0% |
| Stocks | 30/36 | €415,180 | €415,180 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €126,574 | €115,888 | -€10,686 | -8.4% |
| Trade receivables | 40 | €36,075 | €90,589 | +€54,514 | +151.1% |
| Other amounts receivable | 41 | €90,499 | €25,299 | -€65,200 | -72.0% |
| Cash at bank and in hand | 54/58 | €112,507 | €21,616 | -€90,891 | -80.8% |
| Deferred charges and accrued income | 490/1 | €1,160 | €17,025 | +€15,864 | +1367.2% |
| Total equity and liabilities | 10/49 | €4,841,284 | €4,715,186 | -€126,098 | -2.6% |
| Equity | 10/15 | €77,360 | -€77,680 | -€155,040 | |
| Contributions | 10/11 | €1,071,840 | €1,071,840 | = | 0.0% |
| Capital | 10 | €1,071,840 | €1,071,840 | = | 0.0% |
| Issued capital | 100 | €1,071,840 | €1,071,840 | = | 0.0% |
| Reserves | 13 | €145,637 | €145,637 | = | 0.0% |
| Non-distributable reserves | 130/1 | €37,184 | €37,184 | = | 0.0% |
| Legal reserve | 130 | €37,184 | €37,184 | = | 0.0% |
| Tax-exempt reserves | 132 | €108,453 | €108,453 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,140,117 | -€1,295,157 | -€155,040 | -13.6% |
| Amounts payable | 17/49 | €4,763,923 | €4,792,866 | +€28,942 | +0.6% |
| Amounts payable after more than one year | 17 | €330,680 | €248,466 | -€82,214 | -24.9% |
| Financial debts | 170/4 | €330,680 | €248,466 | -€82,214 | -24.9% |
| Amounts payable within one year | 42/48 | €4,433,244 | €4,544,400 | +€111,156 | +2.5% |
| Current portion of amounts payable after more than one year | 42 | €126,943 | €82,214 | -€44,729 | -35.2% |
| Trade debts | 44 | €28,629 | €28,307 | -€322 | -1.1% |
| Suppliers | 440/4 | €28,629 | €28,307 | -€322 | -1.1% |
| Taxes, remuneration and social security | 45 | - | €378 | +€378 | |
| Taxes | 450/3 | - | €378 | +€378 | |
| Other amounts payable | 47/48 | €4,277,672 | €4,433,501 | +€155,830 | +3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €128,640 | €127,582 | -€1,058 | -0.8% |
| Other operating charges | 640/8 | €14,004 | €13,425 | -€579 | -4.1% |
| Gross operating margin | 9900 | €276,514 | -€11,683 | -€288,197 | |
| Operating profit (loss) | 9901 | €133,870 | -€152,690 | -€286,560 | |
| Financial income | 75/76B | €4,054 | €8 | -€4,046 | -99.8% |
| Recurring financial income | 75 | €4,054 | €8 | -€4,046 | -99.8% |
| Financial charges | 65/66B | €17,266 | €1,950 | -€15,316 | -88.7% |
| Recurring financial charges | 65 | €17,266 | €1,950 | -€15,316 | -88.7% |
| Profit (loss) for the period before taxes | 9903 | €120,658 | -€154,633 | -€275,291 | |
| Income taxes | 67/77 | €827 | €407 | -€419 | -50.7% |
| Profit (loss) for the period | 9904 | €119,832 | -€155,040 | -€274,871 | |
| Profit (loss) for the period to be appropriated | 9905 | €119,832 | -€155,040 | -€274,871 |
Source: filed annual accounts (NBB), fiscal years ended 30 December 2024 and 30 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.