VAGON: 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.
VAGON
Largest movements
- Deferred charges and accrued income +€14,122
up €14,122 (+1476.6%), from €956 to €15,079
- Cash -€12,591
down €12,591 (-22.3%), from €56,458 to €43,867
mainly Deferred charges and accrued income (-€14,122) and Receivables within one year (-€10,819)
- Receivables within one year +€10,819
up €10,819 (+97.2%), from €11,126 to €21,945
of which Trade receivables: +€10,536
- Tangible fixed assets -€4,287
down €4,287 (-83.9%), from €5,106 to €820
- Reserves +€12,214
up €12,214 (+19.8%), from €61,561 to €73,775
- Other debts -€4,003
down €4,003 (-86.1%), from €4,651 to €648
- Gross operating margin -€21,425
down €21,425 (-50.9%), from €42,076 to €20,651
- Taxes -€5,256
down €5,256 (-48.4%), from €10,857 to €5,600
- Depreciation -€3,645
down €3,645 (-95.7%), from €3,807 to €162
From the 2025 result to the 2026 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.
Cash bridge derived
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €73,646 | €81,710 | +€8,064 | +10.9% |
| Fixed assets | 21/28 | €5,106 | €820 | -€4,287 | -83.9% |
| Tangible fixed assets | 22/27 | €5,106 | €820 | -€4,287 | -83.9% |
| Furniture and vehicles | 24 | €5,106 | €820 | -€4,287 | -83.9% |
| Current assets | 29/58 | €68,540 | €80,891 | +€12,351 | +18.0% |
| Amounts receivable within one year | 40/41 | €11,126 | €21,945 | +€10,819 | +97.2% |
| Trade receivables | 40 | €9,464 | €20,000 | +€10,536 | +111.3% |
| Other amounts receivable | 41 | €1,662 | €1,945 | +€283 | +17.0% |
| Cash at bank and in hand | 54/58 | €56,458 | €43,867 | -€12,591 | -22.3% |
| Deferred charges and accrued income | 490/1 | €956 | €15,079 | +€14,122 | +1476.6% |
| Total equity and liabilities | 10/49 | €73,646 | €81,710 | +€8,064 | +10.9% |
| Equity | 10/15 | €67,761 | €79,975 | +€12,214 | +18.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €61,561 | €73,775 | +€12,214 | +19.8% |
| Distributable reserves | 133 | €61,561 | €73,775 | +€12,214 | +19.8% |
| Amounts payable | 17/49 | €5,885 | €1,735 | -€4,150 | -70.5% |
| Amounts payable within one year | 42/48 | €5,885 | €1,735 | -€4,150 | -70.5% |
| Trade debts | 44 | €1,056 | €1,087 | +€31 | +2.9% |
| Suppliers | 440/4 | €1,056 | €1,087 | +€31 | +2.9% |
| Taxes, remuneration and social security | 45 | €178 | €0 | -€178 | -100.0% |
| Taxes | 450/3 | €178 | €0 | -€178 | -100.0% |
| Other amounts payable | 47/48 | €4,651 | €648 | -€4,003 | -86.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,807 | €162 | -€3,645 | -95.7% |
| Other operating charges | 640/8 | €1,224 | €942 | -€282 | -23.0% |
| Non-recurring operating charges | 66A | - | €874 | +€874 | |
| Gross operating margin | 9900 | €42,076 | €20,651 | -€21,425 | -50.9% |
| Operating profit (loss) | 9901 | €37,045 | €18,673 | -€18,372 | -49.6% |
| Financial income | 75/76B | €29 | €0 | -€29 | -100.0% |
| Recurring financial income | 75 | €29 | €0 | -€29 | -100.0% |
| Financial charges | 65/66B | €836 | €858 | +€23 | +2.7% |
| Recurring financial charges | 65 | €836 | €858 | +€23 | +2.7% |
| Profit (loss) for the period before taxes | 9903 | €36,238 | €17,814 | -€18,424 | -50.8% |
| Income taxes | 67/77 | €10,857 | €5,600 | -€5,256 | -48.4% |
| Profit (loss) for the period | 9904 | €25,381 | €12,214 | -€13,167 | -51.9% |
| Profit (loss) for the period to be appropriated | 9905 | €25,381 | €12,214 | -€13,167 | -51.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.