VACO TECHNICS: 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.
VACO TECHNICS
Largest movements
- Cash +€37,700
up €37,700 (+79.7%), from €47,322 to €85,022
mainly Other debts (+€80,666) and Trade debts (+€22,197)
- Tangible fixed assets -€13,106
down €13,106 (-5.3%), from €249,409 to €236,303
of which Land and buildings: -€10,816
- Stocks and contracts -€10,363
down €10,363 (-51.3%), from €20,220 to €9,857
- Other debts +€80,666
new in 2025: €80,666
- Reserves -€74,624
down €74,624 (-56.5%), from €132,113 to €57,489
- Trade debts +€22,197
up €22,197 (+52.4%), from €42,357 to €64,554
- Debts after one year -€15,827
down €15,827 (-10.0%), from €158,543 to €142,716
- Taxes -€10,536
down €10,536 (-100.0%), from €10,536 to €0
- Gross operating margin -€4,404
down €4,404 (-4.5%), from €97,775 to €93,371
- Staff costs +€1,966
up €1,966 (+3.2%), from €61,289 to €63,255
- Depreciation +€1,418
up €1,418 (+8.8%), from €16,198 to €17,616
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 | €352,084 | €367,699 | +€15,615 | +4.4% |
| Fixed assets | 21/28 | €249,409 | €236,303 | -€13,106 | -5.3% |
| Tangible fixed assets | 22/27 | €249,409 | €236,303 | -€13,106 | -5.3% |
| Land and buildings | 22 | €231,069 | €220,253 | -€10,816 | -4.7% |
| Plant, machinery and equipment | 23 | €3,690 | €3,973 | +€282 | +7.6% |
| Furniture and vehicles | 24 | €14,650 | €12,078 | -€2,572 | -17.6% |
| Current assets | 29/58 | €102,675 | €131,396 | +€28,721 | +28.0% |
| Stocks and contracts in progress | 3 | €20,220 | €9,857 | -€10,363 | -51.3% |
| Contracts in progress | 37 | €20,220 | €9,857 | -€10,363 | -51.3% |
| Amounts receivable within one year | 40/41 | €35,125 | €36,510 | +€1,385 | +3.9% |
| Trade receivables | 40 | €16,656 | €24,107 | +€7,451 | +44.7% |
| Other amounts receivable | 41 | €18,469 | €12,403 | -€6,067 | -32.8% |
| Cash at bank and in hand | 54/58 | €47,322 | €85,022 | +€37,700 | +79.7% |
| Deferred charges and accrued income | 490/1 | €8 | €8 | = | 0.0% |
| Total equity and liabilities | 10/49 | €352,084 | €367,699 | +€15,615 | +4.4% |
| Equity | 10/15 | €134,113 | €59,489 | -€74,624 | -55.6% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €132,113 | €57,489 | -€74,624 | -56.5% |
| Distributable reserves | 133 | €132,113 | €57,489 | -€74,624 | -56.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €217,971 | €308,210 | +€90,239 | +41.4% |
| Amounts payable after more than one year | 17 | €158,543 | €142,716 | -€15,827 | -10.0% |
| Financial debts | 170/4 | €158,543 | €142,716 | -€15,827 | -10.0% |
| Amounts payable within one year | 42/48 | €59,428 | €165,494 | +€106,066 | +178.5% |
| Current portion of amounts payable after more than one year | 42 | €15,569 | €15,827 | +€258 | +1.7% |
| Trade debts | 44 | €42,357 | €64,554 | +€22,197 | +52.4% |
| Suppliers | 440/4 | €42,357 | €64,554 | +€22,197 | +52.4% |
| Taxes, remuneration and social security | 45 | €1,501 | €4,447 | +€2,946 | +196.3% |
| Remuneration and social security | 454/9 | €1,501 | €4,447 | +€2,946 | +196.3% |
| Other amounts payable | 47/48 | - | €80,666 | +€80,666 | |
| Remuneration, social security and pensions | 62 | €61,289 | €63,255 | +€1,966 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,198 | €17,616 | +€1,418 | +8.8% |
| Other operating charges | 640/8 | €2,407 | €3,048 | +€641 | +26.6% |
| Gross operating margin | 9900 | €97,775 | €93,371 | -€4,404 | -4.5% |
| Operating profit (loss) | 9901 | €17,881 | €9,452 | -€8,429 | -47.1% |
| Financial income | 75/76B | €99 | €122 | +€23 | +23.3% |
| Recurring financial income | 75 | €99 | €122 | +€23 | +23.3% |
| Financial charges | 65/66B | €2,989 | €3,532 | +€543 | +18.2% |
| Recurring financial charges | 65 | €2,989 | €3,532 | +€543 | +18.2% |
| Profit (loss) for the period before taxes | 9903 | €14,991 | €6,042 | -€8,949 | -59.7% |
| Income taxes | 67/77 | €10,536 | €0 | -€10,536 | -100.0% |
| Profit (loss) for the period | 9904 | €4,455 | €6,042 | +€1,587 | +35.6% |
| Profit (loss) for the period to be appropriated | 9905 | €4,455 | €6,042 | +€1,587 | +35.6% |
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.