VaCC: 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.
VaCC
Largest movements
- Cash +€198,804
up €198,804 (+149%), from €133,743 to €332,547
mainly Net result for the year (+€158,688) and Receivables within one year (+€103,404)
- Receivables within one year -€103,404
down €103,404 (-60.9%), from €169,895 to €66,491
of which Other amounts receivable: -€61,944
- Reserves +€55,793
up €55,793 (+7.0%), from €793,374 to €849,167
- Other debts +€24,765
up €24,765 (+31.7%), from €78,129 to €102,895
- Tax, wage and social debts +€12,898
up €12,898 (+28.9%), from €44,588 to €57,487
- Gross operating margin -€53,759
down €53,759 (-18.2%), from €295,311 to €241,552
- Taxes -€16,524
down €16,524 (-18.4%), from €89,990 to €73,466
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 | €930,628 | €1,022,647 | +€92,018 | +9.9% |
| Fixed assets | 21/28 | €626,990 | €623,608 | -€3,382 | -0.5% |
| Tangible fixed assets | 22/27 | €493,228 | €489,847 | -€3,382 | -0.7% |
| Land and buildings | 22 | €427,309 | €433,289 | +€5,980 | +1.4% |
| Plant, machinery and equipment | 23 | €3,819 | €2,109 | -€1,710 | -44.8% |
| Furniture and vehicles | 24 | €46,349 | €42,568 | -€3,782 | -8.2% |
| Other tangible fixed assets | 26 | €15,751 | €11,881 | -€3,870 | -24.6% |
| Financial fixed assets | 28 | €133,762 | €133,762 | = | 0.0% |
| Current assets | 29/58 | €303,638 | €399,038 | +€95,400 | +31.4% |
| Amounts receivable within one year | 40/41 | €169,895 | €66,491 | -€103,404 | -60.9% |
| Trade receivables | 40 | €65,286 | €23,825 | -€41,461 | -63.5% |
| Other amounts receivable | 41 | €104,610 | €42,666 | -€61,944 | -59.2% |
| Cash at bank and in hand | 54/58 | €133,743 | €332,547 | +€198,804 | +149% |
| Total equity and liabilities | 10/49 | €930,628 | €1,022,647 | +€92,018 | +9.9% |
| Equity | 10/15 | €799,574 | €855,367 | +€55,793 | +7.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €793,374 | €849,167 | +€55,793 | +7.0% |
| Distributable reserves | 133 | €793,374 | €849,167 | +€55,793 | +7.0% |
| Amounts payable | 17/49 | €131,055 | €167,280 | +€36,225 | +27.6% |
| Amounts payable within one year | 42/48 | €131,055 | €167,280 | +€36,225 | +27.6% |
| Trade debts | 44 | €8,337 | €6,898 | -€1,439 | -17.3% |
| Suppliers | 440/4 | €8,337 | €6,898 | -€1,439 | -17.3% |
| Taxes, remuneration and social security | 45 | €44,588 | €57,487 | +€12,898 | +28.9% |
| Taxes | 450/3 | €44,588 | €57,487 | +€12,898 | +28.9% |
| Other amounts payable | 47/48 | €78,129 | €102,895 | +€24,765 | +31.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,219 | €12,049 | +€1,830 | +17.9% |
| Other operating charges | 640/8 | €354 | €1,105 | +€750 | +212% |
| Non-recurring operating charges | 66A | €5,893 | - | -€5,893 | |
| Gross operating margin | 9900 | €295,311 | €241,552 | -€53,759 | -18.2% |
| Operating profit (loss) | 9901 | €278,845 | €228,398 | -€50,447 | -18.1% |
| Financial income | 75/76B | €3,602 | €3,991 | +€389 | +10.8% |
| Recurring financial income | 75 | €3,602 | €3,991 | +€389 | +10.8% |
| Financial charges | 65/66B | €988 | €235 | -€753 | -76.2% |
| Recurring financial charges | 65 | €988 | €235 | -€753 | -76.2% |
| Profit (loss) for the period before taxes | 9903 | €281,460 | €232,154 | -€49,306 | -17.5% |
| Income taxes | 67/77 | €89,990 | €73,466 | -€16,524 | -18.4% |
| Profit (loss) for the period | 9904 | €191,470 | €158,688 | -€32,782 | -17.1% |
| Profit (loss) for the period to be appropriated | 9905 | €191,470 | €158,688 | -€32,782 | -17.1% |
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.