Vacona: 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.
Vacona
Largest movements
- Intangible fixed assets -€37,914
down €37,914 (-30.8%), from €123,090 to €85,176
- Tangible fixed assets -€19,462
down €19,462 (-3.8%), from €514,109 to €494,647
of which Land and buildings: -€19,163
- Debts after one year -€33,713
down €33,713 (-9.1%), from €370,962 to €337,249
of which Financial debts: -€24,810
- Current portion of long-term debt -€23,384
down €23,384 (-41.9%), from €55,758 to €32,374
- Gross operating margin -€8,688
down €8,688 (-9.5%), from €91,508 to €82,821
- Staff costs -€6,826
down €6,826 (-100%), from €6,826 to €0
- Taxes -€4,698
down €4,698 (-39.4%), from €11,926 to €7,228
- Financial charges -€3,666
down €3,666 (-17.8%), from €20,562 to €16,896
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 | €677,360 | €619,615 | -€57,744 | -8.5% |
| Fixed assets | 21/28 | €637,199 | €579,823 | -€57,376 | -9.0% |
| Intangible fixed assets | 21 | €123,090 | €85,176 | -€37,914 | -30.8% |
| Tangible fixed assets | 22/27 | €514,109 | €494,647 | -€19,462 | -3.8% |
| Land and buildings | 22 | €513,810 | €494,647 | -€19,163 | -3.7% |
| Plant, machinery and equipment | 23 | €299 | €0 | -€299 | -100% |
| Current assets | 29/58 | €40,161 | €39,793 | -€369 | -0.9% |
| Stocks and contracts in progress | 3 | €14,777 | €14,560 | -€217 | -1.5% |
| Stocks | 30/36 | €14,777 | €14,560 | -€217 | -1.5% |
| Amounts receivable within one year | 40/41 | €0 | €6,000 | +€6,000 | |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | €6,000 | +€6,000 | |
| Cash at bank and in hand | 54/58 | €24,097 | €17,893 | -€6,204 | -25.7% |
| Deferred charges and accrued income | 490/1 | €1,287 | €1,339 | +€52 | +4.0% |
| Total equity and liabilities | 10/49 | €677,360 | €619,615 | -€57,744 | -8.5% |
| Equity | 10/15 | €218,507 | €216,045 | -€2,462 | -1.1% |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Revaluation surpluses | 12 | €28,311 | €28,311 | = | 0.0% |
| Reserves | 13 | €120,196 | €117,734 | -€2,462 | -2.0% |
| Distributable reserves | 133 | €120,196 | €117,734 | -€2,462 | -2.0% |
| Amounts payable | 17/49 | €458,853 | €403,571 | -€55,282 | -12.0% |
| Amounts payable after more than one year | 17 | €370,962 | €337,249 | -€33,713 | -9.1% |
| Financial debts | 170/4 | €206,361 | €181,551 | -€24,810 | -12.0% |
| Other amounts payable | 178/9 | €164,601 | €155,698 | -€8,903 | -5.4% |
| Amounts payable within one year | 42/48 | €78,253 | €58,555 | -€19,698 | -25.2% |
| Current portion of amounts payable after more than one year | 42 | €55,758 | €32,374 | -€23,384 | -41.9% |
| Trade debts | 44 | €5,181 | €9,973 | +€4,793 | +92.5% |
| Suppliers | 440/4 | €5,181 | €9,973 | +€4,793 | +92.5% |
| Taxes, remuneration and social security | 45 | €17,314 | €16,207 | -€1,106 | -6.4% |
| Taxes | 450/3 | €17,314 | €16,207 | -€1,106 | -6.4% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €9,638 | €7,767 | -€1,871 | -19.4% |
| Non-recurring operating income | 76A | €3,572 | €19,811 | +€16,239 | +455% |
| Remuneration, social security and pensions | 62 | €6,826 | €0 | -€6,826 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,576 | €57,376 | -€200 | -0.3% |
| Other operating charges | 640/8 | €3,573 | €3,543 | -€30 | -0.8% |
| Non-recurring operating charges | 66A | €6 | €350 | +€345 | +6,266% |
| Gross operating margin | 9900 | €91,508 | €82,821 | -€8,688 | -9.5% |
| Operating profit (loss) | 9901 | €23,528 | €21,551 | -€1,976 | -8.4% |
| Financial income | 75/76B | €75 | €110 | +€35 | +46.6% |
| Recurring financial income | 75 | €75 | €110 | +€35 | +46.6% |
| Financial charges | 65/66B | €20,562 | €16,896 | -€3,666 | -17.8% |
| Recurring financial charges | 65 | €20,562 | €16,896 | -€3,666 | -17.8% |
| Profit (loss) for the period before taxes | 9903 | €3,041 | €4,765 | +€1,725 | +56.7% |
| Income taxes | 67/77 | €11,926 | €7,228 | -€4,698 | -39.4% |
| Profit (loss) for the period | 9904 | -€8,885 | -€2,462 | +€6,423 | +72.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,885 | -€2,462 | +€6,423 | +72.3% |
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 31 October 2026 via checked.be.