VACOPA: 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.
What changed
VACOPA
NACE 82.990, Other business support services
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€2.4m
2024 · -€82,878+€2.5m
Equity
€7.4m
2024 · €5.0m+€2.4m
Cash
€1,793
2024 · €16,557-€14,764
Balance sheet total
€11.5m
2024 · €11.5m-€25,710
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
- Reserves +€2.4m
up €2.4m (+51.8%), from €4.7m to €7.1m
of which Distributable reserves: +€2.4m
- Other debts -€1.3m
down €1.3m (-25.5%), from €5.2m to €3.9m
- Current portion of long-term debt -€1.1m
down €1.1m (-100.0%), from €1.1m to €0
Income statement
- Financial income +€2.5m
new in 2025: €2.5m
- Financial charges -€10,433
down €10,433 (-7.0%), from €147,997 to €137,564
- Other operating income +€6,178
up €6,178 (+6.6%), from €93,709 to €99,886
- Services and other goods -€1,889
down €1,889 (-1.1%), from €179,652 to €177,763
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.
Result 2024
-€82,878
Other operating income
+€6,178
Services and other goods
+€1,889
Depreciation
+€462
Other operating charges
+€97
Financial income
+€2.5m
Financial charges
+€10,433
Taxes
+€5
Result 2025
€2.4m
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.
From operations
+€1.1m
Investment
-€739
Financing
-€1.1m
Cash 2024
€16,557
From operations (derived)
+€1.1m
Net result for the year
+€2.4m
Depreciation
+€27,263
Receivables within one year
-€17,096
Smaller working-capital items
-€112
Trade debts
-€64,889
Tax, wage and social debts
+€15,865
Other debts
-€1.3m
Accrued charges and deferred income
-€10,093
Investment (derived)
-€739
Investment in fixed assets (net)
-€739
Financing
-€1.1m
Current portion of long-term debt
-€1.1m
Cash 2025
€1,793
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,526,397 | €11,500,687 | -€25,710 | -0.2% |
| Fixed assets | 21/28 | €11,466,149 | €11,439,626 | -€26,523 | -0.2% |
| Tangible fixed assets | 22/27 | €1,112,903 | €1,066,379 | -€46,523 | -4.2% |
| Land and buildings | 22 | €1,055,332 | €1,041,064 | -€14,268 | -1.4% |
| Furniture and vehicles | 24 | €57,571 | €25,315 | -€32,256 | -56.0% |
| Financial fixed assets | 28 | €10,353,246 | €10,373,246 | +€20,000 | +0.2% |
| Affiliated companies | 280/1 | €10,343,246 | €10,373,246 | +€30,000 | +0.3% |
| Participating interests | 280 | €10,343,246 | €10,373,246 | +€30,000 | +0.3% |
| Companies linked by participating interests | 282/3 | €10,000 | €0 | -€10,000 | -100.0% |
| Participating interests | 282 | €10,000 | €0 | -€10,000 | -100.0% |
| Current assets | 29/58 | €60,247 | €61,061 | +€813 | +1.3% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €37,455 | €54,550 | +€17,096 | +45.6% |
| Trade receivables | 40 | €37,455 | €54,550 | +€17,096 | +45.6% |
| Cash at bank and in hand | 54/58 | €16,557 | €1,793 | -€14,764 | -89.2% |
| Deferred charges and accrued income | 490/1 | €6,236 | €4,718 | -€1,518 | -24.3% |
| Total equity and liabilities | 10/49 | €11,526,397 | €11,500,687 | -€25,710 | -0.2% |
| Equity | 10/15 | €5,013,232 | €7,447,417 | +€2.4m | +48.6% |
| Contributions | 10/11 | €316,312 | €316,312 | = | 0.0% |
| Capital | 10 | €316,312 | €316,312 | = | 0.0% |
| Issued capital | 100 | €316,312 | €316,312 | = | 0.0% |
| Reserves | 13 | €4,696,920 | €7,131,105 | +€2.4m | +51.8% |
| Non-distributable reserves | 130/1 | €31,631 | €31,631 | = | 0.0% |
| Legal reserve | 130 | €31,631 | €31,631 | = | 0.0% |
| Tax-exempt reserves | 132 | €57,006 | €53,839 | -€3,167 | -5.6% |
| Distributable reserves | 133 | €4,608,283 | €7,045,635 | +€2.4m | +52.9% |
| Provisions and deferred taxes | 16 | €29,353 | €27,723 | -€1,631 | -5.6% |
| Deferred taxes | 168 | €29,353 | €27,723 | -€1,631 | -5.6% |
| Amounts payable | 17/49 | €6,483,811 | €4,025,547 | -€2.5m | -37.9% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Credit institutions | 173 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €6,342,296 | €3,894,125 | -€2.4m | -38.6% |
| Current portion of amounts payable after more than one year | 42 | €1,071,432 | €0 | -€1.1m | -100.0% |
| Trade debts | 44 | €64,889 | €0 | -€64,889 | -100.0% |
| Suppliers | 440/4 | €64,889 | €0 | -€64,889 | -100.0% |
| Taxes, remuneration and social security | 45 | €5,629 | €21,494 | +€15,865 | +281.8% |
| Taxes | 450/3 | €5,629 | €21,494 | +€15,865 | +281.8% |
| Other amounts payable | 47/48 | €5,200,346 | €3,872,631 | -€1.3m | -25.5% |
| Accrued charges and deferred income | 492/3 | €141,515 | €131,422 | -€10,093 | -7.1% |
| Operating income | 70/76A | €274,040 | €280,218 | +€6,178 | +2.3% |
| Turnover | 70 | €180,331 | €180,331 | = | 0.0% |
| Other operating income | 74 | €93,709 | €99,886 | +€6,178 | +6.6% |
| Operating charges | 60/66A | €210,371 | €207,923 | -€2,448 | -1.2% |
| Services and other goods | 61 | €179,652 | €177,763 | -€1,889 | -1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,724 | €27,263 | -€462 | -1.7% |
| Other operating charges | 640/8 | €2,995 | €2,898 | -€97 | -3.2% |
| Operating profit (loss) | 9901 | €63,669 | €72,295 | +€8,625 | +13.5% |
| Financial income | 75/76B | - | €2,498,000 | +€2.5m | |
| Recurring financial income | 75 | - | €2,498,000 | +€2.5m | |
| Income from financial fixed assets | 750 | - | €2,498,000 | +€2.5m | |
| Financial charges | 65/66B | €147,997 | €137,564 | -€10,433 | -7.0% |
| Recurring financial charges | 65 | €147,997 | €137,564 | -€10,433 | -7.0% |
| Debt charges | 650 | €147,822 | €137,418 | -€10,404 | -7.0% |
| Other financial charges | 652/9 | €175 | €146 | -€29 | -16.6% |
| Profit (loss) for the period before taxes | 9903 | -€84,328 | €2,432,730 | +€2.5m | |
| Transfer from deferred taxes | 780 | €1,631 | €1,631 | = | 0.0% |
| Income taxes | 67/77 | €182 | €176 | -€5 | -3.0% |
| Taxes | 670/3 | €182 | €176 | -€5 | -3.0% |
| Profit (loss) for the period | 9904 | -€82,878 | €2,434,185 | +€2.5m | |
| Transfer from tax-exempt reserves | 789 | €3,167 | €3,167 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€79,711 | €2,437,352 | +€2.5m |
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 7 October 2026 via checked.be.