VACHRO: 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.
VACHRO
Largest movements
- Current investments -€40,000
down €40,000 (-100%), from €40,000 to €0
- Cash +€15,754
up €15,754 (+51.2%), from €30,785 to €46,539
mainly Current investments (+€40,000) and Other debts (+€17,105)
- Tangible fixed assets -€14,858
down €14,858 (-22.6%), from €65,684 to €50,826
- Receivables within one year +€2,960
up €2,960 (+2,867%), from €103 to €3,063
of which Other amounts receivable: +€3,007
- Debts after one year -€50,880
down €50,880 (-61.2%), from €83,187 to €32,307
- Other debts +€17,105
up €17,105 (+357%), from €4,796 to €21,901
- Tax, wage and social debts -€10,748
down €10,748 (-57.9%), from €18,556 to €7,808
- Reserves +€7,552
up €7,552 (+5.7%), from €132,781 to €140,333
of which Distributable reserves: +€7,552
- Gross operating margin -€26,729
down €26,729 (-27.7%), from €96,664 to €69,935
- Taxes -€22,330
down €22,330, from €20,928 to -€1,401
- Financial charges +€20,431
up €20,431 (+71.0%), from €28,783 to €49,214
- Depreciation +€8,081
up €8,081 (+119%), from €6,776 to €14,858
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 | €289,964 | €254,047 | -€35,917 | -12.4% |
| Fixed assets | 21/28 | €216,569 | €201,711 | -€14,858 | -6.9% |
| Tangible fixed assets | 22/27 | €65,684 | €50,826 | -€14,858 | -22.6% |
| Furniture and vehicles | 24 | €65,684 | €50,826 | -€14,858 | -22.6% |
| Financial fixed assets | 28 | €150,885 | €150,885 | = | 0.0% |
| Current assets | 29/58 | €73,396 | €52,336 | -€21,060 | -28.7% |
| Amounts receivable within one year | 40/41 | €103 | €3,063 | +€2,960 | +2,867% |
| Trade receivables | 40 | €103 | €56 | -€47 | -45.5% |
| Other amounts receivable | 41 | €0 | €3,007 | +€3,007 | |
| Current investments | 50/53 | €40,000 | €0 | -€40,000 | -100% |
| Cash at bank and in hand | 54/58 | €30,785 | €46,539 | +€15,754 | +51.2% |
| Deferred charges and accrued income | 490/1 | €2,507 | €2,734 | +€227 | +9.0% |
| Total equity and liabilities | 10/49 | €289,964 | €254,047 | -€35,917 | -12.4% |
| Equity | 10/15 | €151,381 | €158,933 | +€7,552 | +5.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €132,781 | €140,333 | +€7,552 | +5.7% |
| Tax-exempt reserves | 132 | €9,251 | €9,251 | = | 0.0% |
| Distributable reserves | 133 | €123,530 | €131,082 | +€7,552 | +6.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €138,584 | €95,114 | -€43,470 | -31.4% |
| Amounts payable after more than one year | 17 | €83,187 | €32,307 | -€50,880 | -61.2% |
| Financial debts | 170/4 | €83,187 | €32,307 | -€50,880 | -61.2% |
| Amounts payable within one year | 42/48 | €35,794 | €42,050 | +€6,255 | +17.5% |
| Current portion of amounts payable after more than one year | 42 | €11,303 | €11,744 | +€441 | +3.9% |
| Trade debts | 44 | €1,139 | €597 | -€542 | -47.6% |
| Suppliers | 440/4 | €1,139 | €597 | -€542 | -47.6% |
| Taxes, remuneration and social security | 45 | €18,556 | €7,808 | -€10,748 | -57.9% |
| Taxes | 450/3 | €18,556 | €7,808 | -€10,748 | -57.9% |
| Other amounts payable | 47/48 | €4,796 | €21,901 | +€17,105 | +357% |
| Accrued charges and deferred income | 492/3 | €19,603 | €20,757 | +€1,155 | +5.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,776 | €14,858 | +€8,081 | +119% |
| Other operating charges | 640/8 | €505 | €585 | +€80 | +15.8% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €96,664 | €69,935 | -€26,729 | -27.7% |
| Operating profit (loss) | 9901 | €89,382 | €54,492 | -€34,890 | -39.0% |
| Financial income | 75/76B | €812 | €874 | +€62 | +7.6% |
| Recurring financial income | 75 | €812 | €874 | +€62 | +7.6% |
| Financial charges | 65/66B | €28,783 | €49,214 | +€20,431 | +71.0% |
| Recurring financial charges | 65 | €28,783 | €49,214 | +€20,431 | +71.0% |
| Profit (loss) for the period before taxes | 9903 | €61,411 | €6,151 | -€55,260 | -90.0% |
| Income taxes | 67/77 | €20,928 | -€1,401 | -€22,330 | |
| Profit (loss) for the period | 9904 | €40,483 | €7,552 | -€32,930 | -81.3% |
| Profit (loss) for the period to be appropriated | 9905 | €40,483 | €7,552 | -€32,930 | -81.3% |
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 24 October 2026 via checked.be.