VÄGSKÄL: 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.
VÄGSKÄL
Largest movements
- Receivables within one year +€148,587
up €148,587 (+280%), from €52,995 to €201,582
of which Other amounts receivable: +€89,318
- Cash -€72,152
down €72,152 (-51.2%), from €140,912 to €68,760
mainly Receivables within one year (-€148,587) and Contributions, distributions and other (-€121,033)
- Other debts +€121,033
up €121,033 (+314%), from €38,500 to €159,533
- Reserves -€37,477
down €37,477 (-14.9%), from €250,792 to €213,315
- Debts after one year -€19,757
down €19,757 (-85.6%), from €23,080 to €3,323
- Tax, wage and social debts +€19,232
up €19,232 (+37.3%), from €51,516 to €70,748
of which Taxes: +€13,732
- Gross operating margin -€38,646
down €38,646 (-24.3%), from €159,020 to €120,374
- Taxes -€10,158
down €10,158 (-20.0%), from €50,701 to €40,543
- Financial charges -€6,232
down €6,232 (-82.7%), from €7,537 to €1,305
- Financial income -€5,698
down €5,698 (-49.9%), from €11,424 to €5,726
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 | €428,700 | €509,781 | +€81,081 | +18.9% |
| Fixed assets | 21/28 | €234,794 | €239,439 | +€4,645 | +2.0% |
| Tangible fixed assets | 22/27 | €1,064 | €709 | -€355 | -33.3% |
| Plant, machinery and equipment | 23 | €1,064 | €709 | -€355 | -33.3% |
| Financial fixed assets | 28 | €233,730 | €238,730 | +€5,000 | +2.1% |
| Current assets | 29/58 | €193,907 | €270,342 | +€76,435 | +39.4% |
| Amounts receivable within one year | 40/41 | €52,995 | €201,582 | +€148,587 | +280% |
| Trade receivables | 40 | €5,982 | €65,251 | +€59,269 | +991% |
| Other amounts receivable | 41 | €47,013 | €136,331 | +€89,318 | +190% |
| Cash at bank and in hand | 54/58 | €140,912 | €68,760 | -€72,152 | -51.2% |
| Total equity and liabilities | 10/49 | €428,700 | €509,781 | +€81,081 | +18.9% |
| Equity | 10/15 | €293,821 | €256,344 | -€37,477 | -12.8% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €250,792 | €213,315 | -€37,477 | -14.9% |
| Distributable reserves | 133 | €250,792 | €213,315 | -€37,477 | -14.9% |
| Profit (loss) carried forward | 14 | €30,529 | €30,529 | = | 0.0% |
| Amounts payable | 17/49 | €134,879 | €253,437 | +€118,558 | +87.9% |
| Amounts payable after more than one year | 17 | €23,080 | €3,323 | -€19,757 | -85.6% |
| Financial debts | 170/4 | €23,080 | €3,323 | -€19,757 | -85.6% |
| Amounts payable within one year | 42/48 | €111,754 | €250,113 | +€138,360 | +124% |
| Current portion of amounts payable after more than one year | 42 | €19,505 | €19,757 | +€251 | +1.3% |
| Trade debts | 44 | €2,232 | €76 | -€2,156 | -96.6% |
| Suppliers | 440/4 | €2,232 | €76 | -€2,156 | -96.6% |
| Taxes, remuneration and social security | 45 | €51,516 | €70,748 | +€19,232 | +37.3% |
| Taxes | 450/3 | €51,516 | €65,248 | +€13,732 | +26.7% |
| Remuneration and social security | 454/9 | - | €5,500 | +€5,500 | |
| Other amounts payable | 47/48 | €38,500 | €159,533 | +€121,033 | +314% |
| Accrued charges and deferred income | 492/3 | €45 | €0 | -€45 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €355 | €355 | +€0 | 0.0% |
| Other operating charges | 640/8 | €1,883 | €342 | -€1,541 | -81.8% |
| Gross operating margin | 9900 | €159,020 | €120,374 | -€38,646 | -24.3% |
| Operating profit (loss) | 9901 | €156,783 | €119,677 | -€37,105 | -23.7% |
| Financial income | 75/76B | €11,424 | €5,726 | -€5,698 | -49.9% |
| Recurring financial income | 75 | €11,424 | €5,726 | -€5,698 | -49.9% |
| Financial charges | 65/66B | €7,537 | €1,305 | -€6,232 | -82.7% |
| Recurring financial charges | 65 | €7,537 | €1,305 | -€6,232 | -82.7% |
| Profit (loss) for the period before taxes | 9903 | €160,669 | €124,098 | -€36,571 | -22.8% |
| Income taxes | 67/77 | €50,701 | €40,543 | -€10,158 | -20.0% |
| Profit (loss) for the period | 9904 | €109,968 | €83,555 | -€26,412 | -24.0% |
| Profit (loss) for the period to be appropriated | 9905 | €109,968 | €83,555 | -€26,412 | -24.0% |
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 17 October 2026 via checked.be.