VAGUES: 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.
VAGUES
Largest movements
- Tangible fixed assets -€15,965
down €15,965 (-25.0%), from €63,873 to €47,908
- Receivables within one year +€13,117
up €13,117 (+232.9%), from €5,633 to €18,750
of which Trade receivables: +€13,639
- Cash +€1,390
up €1,390 (+5.7%), from €24,249 to €25,640
mainly Depreciation (+€15,965) and Net result for the year (+€2,674)
- Profit (loss) carried forward +€2,674
up €2,674 (+19.7%), from €13,539 to €16,212
- Tax, wage and social debts -€2,160
down €2,160 (-49.1%), from €4,400 to €2,241
of which Taxes: -€2,160
- Other debts -€1,371
down €1,371 (-55.5%), from €2,470 to €1,099
- Gross operating margin +€16,094
up €16,094 (+404.7%), from €3,976 to €20,070
- Taxes -€2,515
down €2,515 (-91.3%), from €2,756 to €241
- Other operating charges -€258
down €258 (-21.6%), from €1,195 to €937
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.
Cash bridge derived
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 | €95,242 | €94,293 | -€949 | -1.0% |
| Fixed assets | 21/28 | €63,873 | €47,908 | -€15,965 | -25.0% |
| Tangible fixed assets | 22/27 | €63,873 | €47,908 | -€15,965 | -25.0% |
| Furniture and vehicles | 24 | €63,873 | €47,908 | -€15,965 | -25.0% |
| Current assets | 29/58 | €31,369 | €46,385 | +€15,016 | +47.9% |
| Amounts receivable within one year | 40/41 | €5,633 | €18,750 | +€13,117 | +232.9% |
| Trade receivables | 40 | €4,572 | €18,211 | +€13,639 | +298.3% |
| Other amounts receivable | 41 | €1,061 | €539 | -€522 | -49.2% |
| Cash at bank and in hand | 54/58 | €24,249 | €25,640 | +€1,390 | +5.7% |
| Deferred charges and accrued income | 490/1 | €1,487 | €1,996 | +€509 | +34.2% |
| Total equity and liabilities | 10/49 | €95,242 | €94,293 | -€949 | -1.0% |
| Equity | 10/15 | €83,944 | €86,617 | +€2,674 | +3.2% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €51,855 | €51,855 | = | 0.0% |
| Distributable reserves | 133 | €51,855 | €51,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,539 | €16,212 | +€2,674 | +19.7% |
| Amounts payable | 17/49 | €11,299 | €7,676 | -€3,623 | -32.1% |
| Amounts payable within one year | 42/48 | €11,299 | €7,676 | -€3,623 | -32.1% |
| Trade debts | 44 | €4,428 | €4,336 | -€92 | -2.1% |
| Suppliers | 440/4 | €4,428 | €4,336 | -€92 | -2.1% |
| Taxes, remuneration and social security | 45 | €4,400 | €2,241 | -€2,160 | -49.1% |
| Taxes | 450/3 | €2,400 | €241 | -€2,160 | -90.0% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | €2,470 | €1,099 | -€1,371 | -55.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,953 | €15,965 | +€12 | +0.1% |
| Other operating charges | 640/8 | €1,195 | €937 | -€258 | -21.6% |
| Gross operating margin | 9900 | €3,976 | €20,070 | +€16,094 | +404.7% |
| Operating profit (loss) | 9901 | -€13,172 | €3,168 | +€16,339 | |
| Financial income | 75/76B | €275 | €116 | -€158 | -57.7% |
| Recurring financial income | 75 | €275 | €116 | -€158 | -57.7% |
| Financial charges | 65/66B | €202 | €369 | +€167 | +82.7% |
| Recurring financial charges | 65 | €202 | €369 | +€167 | +82.7% |
| Profit (loss) for the period before taxes | 9903 | -€13,099 | €2,914 | +€16,013 | |
| Income taxes | 67/77 | €2,756 | €241 | -€2,515 | -91.3% |
| Profit (loss) for the period | 9904 | -€15,855 | €2,674 | +€18,528 | |
| Profit (loss) for the period to be appropriated | 9905 | -€15,855 | €2,674 | +€18,528 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.