VAFRA: what changed
VAFRA
Largest movements
- Deferred charges and accrued income -€70,275
down €70,275 (-89.1%), from €78,850 to €8,575
- Receivables within one year +€57,403
up €57,403 (+23.2%), from €247,569 to €304,972
of which Other amounts receivable: +€57,403
- Financial fixed assets -€8,700
down €8,700 (-100%), from €8,700 to €0
- Tax, wage and social debts -€17,649
down €17,649 (-100%), from €17,649 to €0
- Financial income -€72,389
down €72,389 (-89.0%), from €81,373 to €8,984
- Financial charges +€8,926
up €8,926 (+14,208%), from €63 to €8,988
- Gross operating margin -€450
down €450 (-20.4%), from -€2,202 to -€2,652
- Other operating charges -€368
down €368 (-40.4%), from €912 to €544
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €335,122 | €313,550 | -€21,572 | -6.4% |
| Fixed assets | 21/28 | €8,700 | €0 | -€8,700 | -100% |
| Financial fixed assets | 28 | €8,700 | €0 | -€8,700 | -100% |
| Current assets | 29/58 | €326,422 | €313,550 | -€12,872 | -3.9% |
| Amounts receivable within one year | 40/41 | €247,569 | €304,972 | +€57,403 | +23.2% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €247,569 | €304,972 | +€57,403 | +23.2% |
| Cash at bank and in hand | 54/58 | €3 | €3 | +€0 | +2.8% |
| Deferred charges and accrued income | 490/1 | €78,850 | €8,575 | -€70,275 | -89.1% |
| Total equity and liabilities | 10/49 | €335,122 | €313,550 | -€21,572 | -6.4% |
| Equity | 10/15 | €316,313 | €313,113 | -€3,200 | -1.0% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €176,491 | €176,491 | = | 0.0% |
| Distributable reserves | 133 | €176,491 | €176,491 | = | 0.0% |
| Profit (loss) carried forward | 14 | €109,822 | €106,622 | -€3,200 | -2.9% |
| Amounts payable | 17/49 | €18,808 | €437 | -€18,372 | -97.7% |
| Amounts payable within one year | 42/48 | €18,808 | €437 | -€18,372 | -97.7% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €750 | €437 | -€313 | -41.8% |
| Suppliers | 440/4 | €750 | €437 | -€313 | -41.8% |
| Taxes, remuneration and social security | 45 | €17,649 | €0 | -€17,649 | -100% |
| Taxes | 450/3 | €17,649 | €0 | -€17,649 | -100% |
| Other amounts payable | 47/48 | €409 | €0 | -€409 | -100% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Other operating charges | 640/8 | €912 | €544 | -€368 | -40.4% |
| Gross operating margin | 9900 | -€2,202 | -€2,652 | -€450 | -20.4% |
| Operating profit (loss) | 9901 | -€3,114 | -€3,196 | -€81 | -2.6% |
| Financial income | 75/76B | €81,373 | €8,984 | -€72,389 | -89.0% |
| Recurring financial income | 75 | €81,373 | €8,984 | -€72,389 | -89.0% |
| Financial charges | 65/66B | €63 | €8,988 | +€8,926 | +14,208% |
| Recurring financial charges | 65 | €63 | €8,988 | +€8,926 | +14,208% |
| Profit (loss) for the period before taxes | 9903 | €78,195 | -€3,200 | -€81,395 | |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €78,195 | -€3,200 | -€81,395 | |
| Profit (loss) for the period to be appropriated | 9905 | €78,195 | -€3,200 | -€81,395 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.