VABUTRANS: 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.
VABUTRANS
Largest movements
- Cash +€82,562
up €82,562 (+177%), from €46,623 to €129,185
mainly Net result for the year (+€91,362) and Debts after one year (+€35,469)
- Tangible fixed assets +€48,963
up €48,963 (+2,432%), from €2,013 to €50,976
of which Leasing and similar rights: +€46,480
- Receivables within one year +€11,945
up €11,945 (+26.7%), from €44,760 to €56,705
of which Other amounts receivable: +€6,763
- Reserves +€91,362
up €91,362 (+194%), from €47,046 to €138,408
- Debts after one year +€35,469
new in 2025: €35,469
- Current portion of long-term debt +€10,985
new in 2025: €10,985
- Tax, wage and social debts +€10,964
up €10,964 (+52.8%), from €20,784 to €31,748
- Other debts -€6,775
no longer reported in 2025 (was €6,775)
- Gross operating margin +€72,378
up €72,378 (+119%), from €61,019 to €133,397
- Taxes +€13,971
up €13,971 (+113%), from €12,323 to €26,294
- Depreciation +€10,522
up €10,522 (+983%), from €1,070 to €11,592
- Financial charges +€2,256
up €2,256 (+449%), from €502 to €2,758
- Other operating charges +€1,602
up €1,602 (+1,312%), from €122 to €1,724
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 | €93,824 | €237,758 | +€143,934 | +153% |
| Formation expenses | 20 | €149 | €0 | -€149 | -100% |
| Fixed assets | 21/28 | €2,058 | €51,021 | +€48,963 | +2,379% |
| Tangible fixed assets | 22/27 | €2,013 | €50,976 | +€48,963 | +2,432% |
| Plant, machinery and equipment | 23 | €1,143 | €3,831 | +€2,688 | +235% |
| Furniture and vehicles | 24 | €870 | €665 | -€205 | -23.5% |
| Leasing and similar rights | 25 | - | €46,480 | +€46,480 | |
| Financial fixed assets | 28 | €45 | €45 | = | 0.0% |
| Current assets | 29/58 | €91,617 | €186,737 | +€95,120 | +104% |
| Amounts receivable within one year | 40/41 | €44,760 | €56,705 | +€11,945 | +26.7% |
| Trade receivables | 40 | €43,932 | €49,114 | +€5,182 | +11.8% |
| Other amounts receivable | 41 | €828 | €7,591 | +€6,763 | +817% |
| Cash at bank and in hand | 54/58 | €46,623 | €129,185 | +€82,562 | +177% |
| Deferred charges and accrued income | 490/1 | €234 | €847 | +€613 | +262% |
| Total equity and liabilities | 10/49 | €93,824 | €237,758 | +€143,934 | +153% |
| Equity | 10/15 | €52,046 | €143,408 | +€91,362 | +176% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €47,046 | €138,408 | +€91,362 | +194% |
| Distributable reserves | 133 | €47,046 | €138,408 | +€91,362 | +194% |
| Amounts payable | 17/49 | €41,778 | €94,350 | +€52,571 | +126% |
| Amounts payable after more than one year | 17 | - | €35,469 | +€35,469 | |
| Financial debts | 170/4 | - | €35,469 | +€35,469 | |
| Amounts payable within one year | 42/48 | €41,778 | €58,881 | +€17,102 | +40.9% |
| Current portion of amounts payable after more than one year | 42 | - | €10,985 | +€10,985 | |
| Trade debts | 44 | €14,220 | €16,148 | +€1,928 | +13.6% |
| Suppliers | 440/4 | €14,220 | €16,148 | +€1,928 | +13.6% |
| Taxes, remuneration and social security | 45 | €20,784 | €31,748 | +€10,964 | +52.8% |
| Taxes | 450/3 | €20,784 | €31,748 | +€10,964 | +52.8% |
| Other amounts payable | 47/48 | €6,775 | - | -€6,775 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,070 | €11,592 | +€10,522 | +983% |
| Other operating charges | 640/8 | €122 | €1,724 | +€1,602 | +1,312% |
| Gross operating margin | 9900 | €61,019 | €133,397 | +€72,378 | +119% |
| Operating profit (loss) | 9901 | €59,827 | €120,081 | +€60,254 | +101% |
| Financial income | 75/76B | €44 | €333 | +€289 | +651% |
| Recurring financial income | 75 | €44 | €333 | +€289 | +651% |
| Financial charges | 65/66B | €502 | €2,758 | +€2,256 | +449% |
| Recurring financial charges | 65 | €502 | €2,758 | +€2,256 | +449% |
| Profit (loss) for the period before taxes | 9903 | €59,369 | €117,656 | +€58,287 | +98.2% |
| Income taxes | 67/77 | €12,323 | €26,294 | +€13,971 | +113% |
| Profit (loss) for the period | 9904 | €47,046 | €91,362 | +€44,316 | +94.2% |
| Profit (loss) for the period to be appropriated | 9905 | €47,046 | €91,362 | +€44,316 | +94.2% |
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 22 October 2026 via checked.be.