VACA: 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.
VACA
Largest movements
- Receivables within one year +€4,521
up €4,521 (+18.2%), from €24,814 to €29,335
- Tangible fixed assets -€4,010
down €4,010 (-6.8%), from €58,936 to €54,926
of which Furniture and vehicles: -€2,151
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin +€608
up €608 (+11.6%), from €5,261 to €5,869
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 | €84,289 | €84,618 | +€329 | +0.4% |
| Fixed assets | 21/28 | €58,936 | €54,926 | -€4,010 | -6.8% |
| Tangible fixed assets | 22/27 | €58,936 | €54,926 | -€4,010 | -6.8% |
| Land and buildings | 22 | €53,917 | €52,058 | -€1,859 | -3.4% |
| Furniture and vehicles | 24 | €5,019 | €2,868 | -€2,151 | -42.9% |
| Current assets | 29/58 | €25,353 | €29,692 | +€4,339 | +17.1% |
| Amounts receivable within one year | 40/41 | €24,814 | €29,335 | +€4,521 | +18.2% |
| Other amounts receivable | 41 | €24,814 | €29,335 | +€4,521 | +18.2% |
| Cash at bank and in hand | 54/58 | €538 | €356 | -€182 | -33.7% |
| Total equity and liabilities | 10/49 | €84,289 | €84,618 | +€329 | +0.4% |
| Equity | 10/15 | €84,289 | €84,562 | +€273 | +0.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €22,288 | €22,562 | +€273 | +1.2% |
| Distributable reserves | 133 | €22,288 | €22,562 | +€273 | +1.2% |
| Amounts payable | 17/49 | €0 | €56 | +€56 | |
| Amounts payable within one year | 42/48 | €0 | €56 | +€56 | |
| Trade debts | 44 | - | €56 | +€56 | |
| Suppliers | 440/4 | - | €56 | +€56 | |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,010 | €4,010 | = | 0.0% |
| Other operating charges | 640/8 | €1,361 | €1,405 | +€43 | +3.2% |
| Gross operating margin | 9900 | €5,261 | €5,869 | +€608 | +11.6% |
| Operating profit (loss) | 9901 | -€110 | €455 | +€565 | |
| Financial charges | 65/66B | €185 | €182 | -€3 | -1.8% |
| Recurring financial charges | 65 | €185 | €182 | -€3 | -1.8% |
| Profit (loss) for the period before taxes | 9903 | -€295 | €273 | +€568 | |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€295 | €273 | +€568 | |
| Profit (loss) for the period to be appropriated | 9905 | -€295 | €273 | +€568 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.