VABUJA: 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.
VABUJA
Largest movements
- Current investments -€1.2m
down €1.2m (-21.6%), from €5.4m to €4.2m
- Cash +€1.2m
up €1.2m (+147%), from €783,049 to €1.9m
mainly Current investments (+€1.2m) and Net result for the year (+€60,003)
No liability line moved by more than 1% of the balance sheet total.
- Financial income -€9.8m
down €9.8m (-97.3%), from €10.1m to €269,471
- Gross operating margin -€52,049
down €52,049, from €26,906 to -€25,143
- Financial charges +€34,213
up €34,213 (+67.5%), from €50,718 to €84,931
- Staff costs -€31,119
down €31,119, from €30,984 to -€134
- Taxes +€2,119
up €2,119 (+6.7%), from €31,596 to €33,714
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 | €13,401,901 | €13,360,815 | -€41,086 | -0.3% |
| Fixed assets | 21/28 | €7,240,291 | €7,193,343 | -€46,948 | -0.6% |
| Tangible fixed assets | 22/27 | €1,676,876 | €1,629,928 | -€46,948 | -2.8% |
| Land and buildings | 22 | €1,491,812 | €1,445,172 | -€46,640 | -3.1% |
| Furniture and vehicles | 24 | €2,956 | €2,648 | -€308 | -10.4% |
| Other tangible fixed assets | 26 | €182,109 | €182,109 | = | 0.0% |
| Financial fixed assets | 28 | €5,563,414 | €5,563,414 | = | 0.0% |
| Current assets | 29/58 | €6,161,610 | €6,167,472 | +€5,862 | +0.1% |
| Amounts receivable within one year | 40/41 | €7,634 | €20,901 | +€13,267 | +174% |
| Trade receivables | 40 | - | €7,236 | +€7,236 | |
| Other amounts receivable | 41 | €7,634 | €13,665 | +€6,030 | +79.0% |
| Current investments | 50/53 | €5,370,560 | €4,210,209 | -€1.2m | -21.6% |
| Cash at bank and in hand | 54/58 | €783,049 | €1,936,362 | +€1.2m | +147% |
| Deferred charges and accrued income | 490/1 | €367 | €0 | -€367 | -100% |
| Total equity and liabilities | 10/49 | €13,401,901 | €13,360,815 | -€41,086 | -0.3% |
| Equity | 10/15 | €12,446,331 | €12,506,333 | +€60,003 | +0.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €12,427,731 | €12,487,733 | +€60,003 | +0.5% |
| Distributable reserves | 133 | €12,427,731 | €12,487,733 | +€60,003 | +0.5% |
| Amounts payable | 17/49 | €955,570 | €854,482 | -€101,089 | -10.6% |
| Amounts payable after more than one year | 17 | €867,140 | €769,318 | -€97,822 | -11.3% |
| Financial debts | 170/4 | €854,438 | €769,318 | -€85,120 | -10.0% |
| Other amounts payable | 178/9 | €12,702 | €0 | -€12,702 | -100% |
| Amounts payable within one year | 42/48 | €88,430 | €85,164 | -€3,267 | -3.7% |
| Current portion of amounts payable after more than one year | 42 | €84,213 | €85,120 | +€906 | +1.1% |
| Financial debts | 43 | €0 | €44 | +€44 | |
| Credit institutions | 430/8 | €0 | €44 | +€44 | |
| Trade debts | 44 | €1,251 | €0 | -€1,251 | -100% |
| Suppliers | 440/4 | €1,251 | €0 | -€1,251 | -100% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €2,966 | €0 | -€2,966 | -100% |
| Taxes | 450/3 | €2,966 | €0 | -€2,966 | -100% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €45 | +€45 | |
| Remuneration, social security and pensions | 62 | €30,984 | -€134 | -€31,119 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,519 | €48,268 | +€749 | +1.6% |
| Other operating charges | 640/8 | €17,087 | €17,546 | +€460 | +2.7% |
| Gross operating margin | 9900 | €26,906 | -€25,143 | -€52,049 | |
| Operating profit (loss) | 9901 | -€68,684 | -€90,823 | -€22,139 | -32.2% |
| Financial income | 75/76B | €10,071,835 | €269,471 | -€9.8m | -97.3% |
| Recurring financial income | 75 | €10,071,835 | €269,471 | -€9.8m | -97.3% |
| Financial charges | 65/66B | €50,718 | €84,931 | +€34,213 | +67.5% |
| Recurring financial charges | 65 | €50,718 | €84,931 | +€34,213 | +67.5% |
| Profit (loss) for the period before taxes | 9903 | €9,952,434 | €93,717 | -€9.9m | -99.1% |
| Income taxes | 67/77 | €31,596 | €33,714 | +€2,119 | +6.7% |
| Profit (loss) for the period | 9904 | €9,920,838 | €60,003 | -€9.9m | -99.4% |
| Profit (loss) for the period to be appropriated | 9905 | €9,920,838 | €60,003 | -€9.9m | -99.4% |
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 18 October 2026 via checked.be.