VAGEBOND: 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.
VAGEBOND
Largest movements
- Tangible fixed assets -€11,435
down €11,435 (-12.1%), from €94,604 to €83,169
of which Furniture and vehicles: -€9,978
- Receivables within one year +€8,812
up €8,812 (+138%), from €6,380 to €15,192
of which Trade receivables: +€8,909
- Cash +€8,016
up €8,016 (+28.6%), from €28,057 to €36,073
mainly Depreciation (+€15,802) and Net result for the year (+€14,116)
- Debts after one year -€14,259
down €14,259 (-22.8%), from €62,577 to €48,319
- Profit (loss) carried forward +€14,116
up €14,116 (+22.9%), from -€61,726 to -€47,610
- Other debts +€6,335
up €6,335 (+2,840%), from €223 to €6,558
- Reserves -€6,276
down €6,276 (-6.9%), from €90,433 to €84,158
- Tax, wage and social debts +€4,298
up €4,298 (+949%), from €453 to €4,750
- Gross operating margin +€42,935
up €42,935, from -€12,276 to €30,660
- Financial income +€2,521
up €2,521 (+814%), from €310 to €2,831
of which Non-recurring financial income: +€2,831
- Other operating charges -€428
down €428 (-34.1%), from €1,258 to €829
- Financial charges -€401
down €401 (-13.3%), from €3,012 to €2,611
of which Financial charges: -€401
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 | €134,158 | €140,198 | +€6,040 | +4.5% |
| Fixed assets | 21/28 | €96,404 | €84,969 | -€11,435 | -11.9% |
| Tangible fixed assets | 22/27 | €94,604 | €83,169 | -€11,435 | -12.1% |
| Land and buildings | 22 | €60,655 | €55,769 | -€4,886 | -8.1% |
| Plant, machinery and equipment | 23 | €1,129 | €4,558 | +€3,429 | +304% |
| Furniture and vehicles | 24 | €32,821 | €22,843 | -€9,978 | -30.4% |
| Financial fixed assets | 28 | €1,800 | €1,800 | = | 0.0% |
| Current assets | 29/58 | €37,754 | €55,229 | +€17,475 | +46.3% |
| Amounts receivable within one year | 40/41 | €6,380 | €15,192 | +€8,812 | +138% |
| Trade receivables | 40 | €3,415 | €12,324 | +€8,909 | +261% |
| Other amounts receivable | 41 | €2,965 | €2,868 | -€97 | -3.3% |
| Cash at bank and in hand | 54/58 | €28,057 | €36,073 | +€8,016 | +28.6% |
| Deferred charges and accrued income | 490/1 | €3,317 | €3,964 | +€646 | +19.5% |
| Total equity and liabilities | 10/49 | €134,158 | €140,198 | +€6,040 | +4.5% |
| Equity | 10/15 | €48,707 | €56,548 | +€7,841 | +16.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €90,433 | €84,158 | -€6,276 | -6.9% |
| Distributable reserves | 133 | €90,433 | €84,158 | -€6,276 | -6.9% |
| Profit (loss) carried forward | 14 | -€61,726 | -€47,610 | +€14,116 | +22.9% |
| Amounts payable | 17/49 | €85,451 | €83,650 | -€1,800 | -2.1% |
| Amounts payable after more than one year | 17 | €62,577 | €48,319 | -€14,259 | -22.8% |
| Financial debts | 170/4 | €62,577 | €48,319 | -€14,259 | -22.8% |
| Amounts payable within one year | 42/48 | €22,873 | €34,119 | +€11,246 | +49.2% |
| Current portion of amounts payable after more than one year | 42 | €13,764 | €14,259 | +€495 | +3.6% |
| Financial debts | 43 | €1,014 | €1,011 | -€4 | -0.4% |
| Credit institutions | 430/8 | €1,014 | €1,011 | -€4 | -0.4% |
| Trade debts | 44 | €7,419 | €7,541 | +€122 | +1.6% |
| Suppliers | 440/4 | €7,419 | €7,541 | +€122 | +1.6% |
| Taxes, remuneration and social security | 45 | €453 | €4,750 | +€4,298 | +949% |
| Taxes | 450/3 | €453 | €4,750 | +€4,298 | +949% |
| Other amounts payable | 47/48 | €223 | €6,558 | +€6,335 | +2,840% |
| Accrued charges and deferred income | 492/3 | - | €1,213 | +€1,213 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,675 | €15,802 | +€127 | +0.8% |
| Other operating charges | 640/8 | €1,258 | €829 | -€428 | -34.1% |
| Gross operating margin | 9900 | -€12,276 | €30,660 | +€42,935 | |
| Operating profit (loss) | 9901 | -€29,208 | €14,028 | +€43,237 | |
| Financial income | 75/76B | €310 | €2,831 | +€2,521 | +814% |
| Recurring financial income | 75 | €310 | €2,831 | +€2,521 | +814% |
| Non-recurring financial income | 76B | - | €2,831 | +€2,831 | |
| Financial charges | 65/66B | €3,012 | €2,611 | -€401 | -13.3% |
| Recurring financial charges | 65 | €3,012 | €2,611 | -€401 | -13.3% |
| Non-recurring financial charges | 66B | - | €0 | = | |
| Profit (loss) for the period before taxes | 9903 | -€31,910 | €14,248 | +€46,158 | |
| Income taxes | 67/77 | €128 | €132 | +€4 | +3.1% |
| Profit (loss) for the period | 9904 | -€32,038 | €14,116 | +€46,154 | |
| Profit (loss) for the period to be appropriated | 9905 | -€32,038 | €14,116 | +€46,154 |
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 24 October 2026 via checked.be.