VACQ BELGIUM: 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.
VACQ BELGIUM
Largest movements
- Cash -€180,374
down €180,374 (-78.8%), from €228,884 to €48,509
mainly Receivables within one year (-€66,685) and Current portion of long-term debt (-€50,000)
- Receivables within one year +€66,685
up €66,685 (+17.9%), from €372,686 to €439,371
of which Trade receivables: +€73,476
- Stocks and contracts +€25,674
up €25,674 (+17.6%), from €145,933 to €171,608
- Tangible fixed assets +€23,199
up €23,199 (+1,400%), from €1,657 to €24,856
of which Furniture and vehicles: +€23,724
- Current portion of long-term debt -€50,000
down €50,000 (-40.0%), from €125,000 to €75,000
- Trade debts -€30,810
down €30,810 (-12.9%), from €239,138 to €208,328
- Other debts +€24,316
up €24,316 (+139%), from €17,500 to €41,816
- Profit (loss) carried forward +€22,133
up €22,133 (+7.7%), from €287,967 to €310,099
- Tax, wage and social debts -€19,245
down €19,245 (-36.8%), from €52,272 to €33,027
of which Taxes: -€17,499
- Gross operating margin -€39,434
down €39,434 (-17.7%), from €222,946 to €183,512
- Write-downs -€33,294
no longer reported in 2025 (was €33,294)
- Staff costs -€9,456
down €9,456 (-6.3%), from €149,353 to €139,897
- Financial income +€4,869
up €4,869 (+355%), from €1,371 to €6,240
- Financial charges +€4,857
up €4,857 (+141%), from €3,437 to €8,294
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 | €755,745 | €691,494 | -€64,251 | -8.5% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €1,957 | €25,156 | +€23,199 | +1,186% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €1,657 | €24,856 | +€23,199 | +1,400% |
| Plant, machinery and equipment | 23 | €1,657 | €1,132 | -€524 | -31.7% |
| Furniture and vehicles | 24 | €0 | €23,724 | +€23,724 | |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €753,788 | €666,338 | -€87,451 | -11.6% |
| Stocks and contracts in progress | 3 | €145,933 | €171,608 | +€25,674 | +17.6% |
| Stocks | 30/36 | €145,933 | €171,608 | +€25,674 | +17.6% |
| Amounts receivable within one year | 40/41 | €372,686 | €439,371 | +€66,685 | +17.9% |
| Trade receivables | 40 | €365,610 | €439,086 | +€73,476 | +20.1% |
| Other amounts receivable | 41 | €7,076 | €285 | -€6,791 | -96.0% |
| Current investments | 50/53 | €3,424 | €3,424 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €228,884 | €48,509 | -€180,374 | -78.8% |
| Deferred charges and accrued income | 490/1 | €2,861 | €3,425 | +€565 | +19.7% |
| Total equity and liabilities | 10/49 | €755,745 | €691,494 | -€64,251 | -8.5% |
| Equity | 10/15 | €311,190 | €333,323 | +€22,133 | +7.1% |
| Contributions | 10/11 | €12,197 | €12,197 | = | 0.0% |
| Reserves | 13 | €11,026 | €11,026 | = | 0.0% |
| Distributable reserves | 133 | €11,026 | €11,026 | = | 0.0% |
| Profit (loss) carried forward | 14 | €287,967 | €310,099 | +€22,133 | +7.7% |
| Amounts payable | 17/49 | €444,555 | €358,171 | -€86,384 | -19.4% |
| Amounts payable within one year | 42/48 | €433,910 | €358,171 | -€75,739 | -17.5% |
| Current portion of amounts payable after more than one year | 42 | €125,000 | €75,000 | -€50,000 | -40.0% |
| Trade debts | 44 | €239,138 | €208,328 | -€30,810 | -12.9% |
| Suppliers | 440/4 | €239,138 | €208,328 | -€30,810 | -12.9% |
| Taxes, remuneration and social security | 45 | €52,272 | €33,027 | -€19,245 | -36.8% |
| Taxes | 450/3 | €31,986 | €14,487 | -€17,499 | -54.7% |
| Remuneration and social security | 454/9 | €20,286 | €18,540 | -€1,746 | -8.6% |
| Other amounts payable | 47/48 | €17,500 | €41,816 | +€24,316 | +139% |
| Accrued charges and deferred income | 492/3 | €10,645 | €0 | -€10,645 | -100% |
| Remuneration, social security and pensions | 62 | €149,353 | €139,897 | -€9,456 | -6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €524 | €3,945 | +€3,421 | +652% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €33,294 | - | -€33,294 | |
| Other operating charges | 640/8 | €3,218 | €6,353 | +€3,136 | +97.5% |
| Gross operating margin | 9900 | €222,946 | €183,512 | -€39,434 | -17.7% |
| Operating profit (loss) | 9901 | €36,556 | €33,316 | -€3,240 | -8.9% |
| Financial income | 75/76B | €1,371 | €6,240 | +€4,869 | +355% |
| Recurring financial income | 75 | €1,371 | €6,240 | +€4,869 | +355% |
| Financial charges | 65/66B | €3,437 | €8,294 | +€4,857 | +141% |
| Recurring financial charges | 65 | €3,437 | €8,294 | +€4,857 | +141% |
| Profit (loss) for the period before taxes | 9903 | €34,491 | €31,262 | -€3,229 | -9.4% |
| Income taxes | 67/77 | €10,349 | €9,129 | -€1,220 | -11.8% |
| Profit (loss) for the period | 9904 | €24,142 | €22,133 | -€2,009 | -8.3% |
| Profit (loss) for the period to be appropriated | 9905 | €24,142 | €22,133 | -€2,009 | -8.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.