VACOM: 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.
VACOM
Largest movements
- Current investments +€59,897
up €59,897 (+9.4%), from €640,103 to €700,000
- Receivables within one year +€40,558
up €40,558 (+90.9%), from €44,619 to €85,177
of which Other amounts receivable: +€21,666
- Reserves +€90,970
up €90,970 (+14.7%), from €619,496 to €710,466
- Gross operating margin +€39,779
up €39,779 (+22.8%), from €174,541 to €214,320
- Taxes +€11,892
up €11,892 (+22.9%), from €51,918 to €63,810
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 | €697,030 | €789,849 | +€92,819 | +13.3% |
| Current assets | 29/58 | €697,030 | €789,849 | +€92,819 | +13.3% |
| Amounts receivable within one year | 40/41 | €44,619 | €85,177 | +€40,558 | +90.9% |
| Trade receivables | 40 | €39,917 | €58,809 | +€18,893 | +47.3% |
| Other amounts receivable | 41 | €4,703 | €26,368 | +€21,666 | +461% |
| Current investments | 50/53 | €640,103 | €700,000 | +€59,897 | +9.4% |
| Cash at bank and in hand | 54/58 | €11,102 | €3,522 | -€7,580 | -68.3% |
| Deferred charges and accrued income | 490/1 | €1,206 | €1,149 | -€57 | -4.7% |
| Total equity and liabilities | 10/49 | €697,030 | €789,849 | +€92,819 | +13.3% |
| Equity | 10/15 | €670,163 | €761,133 | +€90,970 | +13.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €619,496 | €710,466 | +€90,970 | +14.7% |
| Distributable reserves | 133 | €619,496 | €710,466 | +€90,970 | +14.7% |
| Profit (loss) carried forward | 14 | €38,267 | €38,267 | = | 0.0% |
| Amounts payable | 17/49 | €26,867 | €28,715 | +€1,849 | +6.9% |
| Amounts payable within one year | 42/48 | €26,841 | €28,711 | +€1,870 | +7.0% |
| Trade debts | 44 | €1,396 | €8,203 | +€6,807 | +488% |
| Suppliers | 440/4 | €1,396 | €8,203 | +€6,807 | +488% |
| Taxes, remuneration and social security | 45 | €18,543 | €14,828 | -€3,715 | -20.0% |
| Taxes | 450/3 | €18,543 | €14,828 | -€3,715 | -20.0% |
| Other amounts payable | 47/48 | €6,902 | €5,680 | -€1,223 | -17.7% |
| Accrued charges and deferred income | 492/3 | €25 | €4 | -€21 | -82.8% |
| Other operating charges | 640/8 | €574 | €587 | +€12 | +2.2% |
| Gross operating margin | 9900 | €174,541 | €214,320 | +€39,779 | +22.8% |
| Operating profit (loss) | 9901 | €173,966 | €213,733 | +€39,767 | +22.9% |
| Financial income | 75/76B | €5,311 | €4,354 | -€957 | -18.0% |
| Recurring financial income | 75 | €5,311 | €4,354 | -€957 | -18.0% |
| Financial charges | 65/66B | €2,288 | €3,530 | +€1,242 | +54.3% |
| Recurring financial charges | 65 | €2,288 | €3,530 | +€1,242 | +54.3% |
| Profit (loss) for the period before taxes | 9903 | €176,989 | €214,557 | +€37,568 | +21.2% |
| Income taxes | 67/77 | €51,918 | €63,810 | +€11,892 | +22.9% |
| Profit (loss) for the period | 9904 | €125,071 | €150,747 | +€25,676 | +20.5% |
| Profit (loss) for the period to be appropriated | 9905 | €125,071 | €150,747 | +€25,676 | +20.5% |
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 15 October 2026 via checked.be.