VACASO: 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.
VACASO
Largest movements
- Receivables within one year +€6,327
up €6,327 (+29.2%), from €21,662 to €27,989
of which Trade receivables: +€6,708
- Tangible fixed assets +€6,304
up €6,304 (+240%), from €2,623 to €8,927
of which Plant, machinery and equipment: +€5,654
- Intangible fixed assets -€4,662
no longer reported in 2025 (was €4,662)
- Cash +€1,446
up €1,446 (+4.0%), from €36,352 to €37,799
mainly Depreciation (+€6,901) and Tax, wage and social debts (+€4,067)
- Tax, wage and social debts +€4,067
up €4,067 (+63.0%), from €6,459 to €10,526
of which Taxes: +€3,810
- Trade debts +€3,131
up €3,131 (+12.8%), from €24,380 to €27,511
- Profit (loss) carried forward +€2,722
up €2,722, from -€666 to €2,056
- Advances received +€1,771
up €1,771 (+25.7%), from €6,886 to €8,657
- Accrued charges and deferred income -€1,700
no longer reported in 2025 (was €1,700)
- Gross operating margin -€15,849
down €15,849 (-21.9%), from €72,298 to €56,449
- Staff costs +€8,034
up €8,034 (+22.7%), from €35,402 to €43,436
- Other operating charges -€3,778
down €3,778 (-65.5%), from €5,769 to €1,991
- Depreciation +€992
up €992 (+16.8%), from €5,909 to €6,901
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 | €67,197 | €76,356 | +€9,158 | +13.6% |
| Fixed assets | 21/28 | €7,785 | €9,427 | +€1,642 | +21.1% |
| Intangible fixed assets | 21 | €4,662 | - | -€4,662 | |
| Tangible fixed assets | 22/27 | €2,623 | €8,927 | +€6,304 | +240% |
| Land and buildings | 22 | €947 | €469 | -€478 | -50.5% |
| Plant, machinery and equipment | 23 | - | €5,654 | +€5,654 | |
| Furniture and vehicles | 24 | €1,676 | €2,804 | +€1,128 | +67.3% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €59,412 | €66,928 | +€7,516 | +12.7% |
| Stocks and contracts in progress | 3 | €1,398 | €1,141 | -€257 | -18.4% |
| Stocks | 30/36 | €1,398 | €1,141 | -€257 | -18.4% |
| Amounts receivable within one year | 40/41 | €21,662 | €27,989 | +€6,327 | +29.2% |
| Trade receivables | 40 | €18,456 | €25,164 | +€6,708 | +36.3% |
| Other amounts receivable | 41 | €3,206 | €2,825 | -€381 | -11.9% |
| Cash at bank and in hand | 54/58 | €36,352 | €37,799 | +€1,446 | +4.0% |
| Total equity and liabilities | 10/49 | €67,197 | €76,356 | +€9,158 | +13.6% |
| Equity | 10/15 | €26,834 | €29,556 | +€2,722 | +10.1% |
| Contributions | 10/11 | €27,500 | €27,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€666 | €2,056 | +€2,722 | |
| Amounts payable | 17/49 | €40,363 | €46,799 | +€6,437 | +15.9% |
| Amounts payable within one year | 42/48 | €38,663 | €46,799 | +€8,137 | +21.0% |
| Trade debts | 44 | €24,380 | €27,511 | +€3,131 | +12.8% |
| Suppliers | 440/4 | €24,380 | €27,511 | +€3,131 | +12.8% |
| Advances received on contracts in progress | 46 | €6,886 | €8,657 | +€1,771 | +25.7% |
| Taxes, remuneration and social security | 45 | €6,459 | €10,526 | +€4,067 | +63.0% |
| Taxes | 450/3 | €714 | €4,525 | +€3,810 | +534% |
| Remuneration and social security | 454/9 | €5,745 | €6,001 | +€256 | +4.5% |
| Other amounts payable | 47/48 | €938 | €106 | -€832 | -88.7% |
| Accrued charges and deferred income | 492/3 | €1,700 | - | -€1,700 | |
| Remuneration, social security and pensions | 62 | €35,402 | €43,436 | +€8,034 | +22.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,909 | €6,901 | +€992 | +16.8% |
| Other operating charges | 640/8 | €5,769 | €1,991 | -€3,778 | -65.5% |
| Gross operating margin | 9900 | €72,298 | €56,449 | -€15,849 | -21.9% |
| Operating profit (loss) | 9901 | €25,218 | €4,121 | -€21,097 | -83.7% |
| Financial charges | 65/66B | €1,230 | €1,399 | +€169 | +13.7% |
| Recurring financial charges | 65 | €1,230 | €1,399 | +€169 | +13.7% |
| Profit (loss) for the period before taxes | 9903 | €23,988 | €2,722 | -€21,266 | -88.7% |
| Profit (loss) for the period | 9904 | €23,988 | €2,722 | -€21,266 | -88.7% |
| Profit (loss) for the period to be appropriated | 9905 | €23,988 | €2,722 | -€21,266 | -88.7% |
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 23 October 2026 via checked.be.