VAHEWO: 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.
VAHEWO
Largest movements
- Cash +€16,203
up €16,203 (+71.3%), from €22,728 to €38,931
mainly Net result for the year (+€22,283) and Trade debts (+€2,117)
- Tangible fixed assets +€736
new in 2025: €736
- Profit (loss) carried forward +€11,450
up €11,450 (+122%), from €9,348 to €20,798
- Reserves +€10,000
up €10,000 (+200%), from €5,000 to €15,000
- Tax, wage and social debts -€5,829
down €5,829 (-52.4%), from €11,123 to €5,294
of which Taxes: -€5,030
- Trade debts +€2,117
up €2,117 (+1,764%), from €120 to €2,237
- Accrued charges and deferred income -€1,082
no longer reported in 2025 (was €1,082)
- Gross operating margin +€28,933
up €28,933 (+1,638%), from €1,766 to €30,699
- Financial income -€20,507
no longer reported in 2025 (was €20,507)
of which Financial income: -€20,507
- Taxes +€1,283
up €1,283 (+20.7%), from €6,192 to €7,475
- Other operating charges -€403
down €403 (-46.4%), from €868 to €465
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 | €29,915 | €46,831 | +€16,916 | +56.5% |
| Fixed assets | 21/28 | - | €736 | +€736 | |
| Tangible fixed assets | 22/27 | - | €736 | +€736 | |
| Furniture and vehicles | 24 | - | €736 | +€736 | |
| Current assets | 29/58 | €29,915 | €46,095 | +€16,180 | +54.1% |
| Cash at bank and in hand | 54/58 | €22,728 | €38,931 | +€16,203 | +71.3% |
| Deferred charges and accrued income | 490/1 | €7,187 | €7,164 | -€23 | -0.3% |
| Total equity and liabilities | 10/49 | €29,915 | €46,831 | +€16,916 | +56.5% |
| Equity | 10/15 | €14,448 | €35,898 | +€21,450 | +148% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €5,000 | €15,000 | +€10,000 | +200% |
| Distributable reserves | 133 | €5,000 | €15,000 | +€10,000 | +200% |
| Profit (loss) carried forward | 14 | €9,348 | €20,798 | +€11,450 | +122% |
| Amounts payable | 17/49 | €15,467 | €10,933 | -€4,534 | -29.3% |
| Amounts payable within one year | 42/48 | €14,385 | €10,933 | -€3,452 | -24.0% |
| Trade debts | 44 | €120 | €2,237 | +€2,117 | +1,764% |
| Suppliers | 440/4 | €120 | €2,237 | +€2,117 | +1,764% |
| Taxes, remuneration and social security | 45 | €11,123 | €5,294 | -€5,829 | -52.4% |
| Taxes | 450/3 | €8,021 | €2,991 | -€5,030 | -62.7% |
| Remuneration and social security | 454/9 | €3,102 | €2,303 | -€799 | -25.8% |
| Other amounts payable | 47/48 | €3,142 | €3,402 | +€260 | +8.3% |
| Accrued charges and deferred income | 492/3 | €1,082 | - | -€1,082 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €253 | +€253 | |
| Other operating charges | 640/8 | €868 | €465 | -€403 | -46.4% |
| Gross operating margin | 9900 | €1,766 | €30,699 | +€28,933 | +1,638% |
| Operating profit (loss) | 9901 | €898 | €29,981 | +€29,083 | +3,239% |
| Financial income | 75/76B | €20,507 | - | -€20,507 | |
| Recurring financial income | 75 | €20,507 | - | -€20,507 | |
| Non-recurring financial income | 76B | €20,507 | - | -€20,507 | |
| Financial charges | 65/66B | €6 | €223 | +€217 | +3,617% |
| Recurring financial charges | 65 | €6 | €223 | +€217 | +3,617% |
| Profit (loss) for the period before taxes | 9903 | €21,399 | €29,758 | +€8,359 | +39.1% |
| Income taxes | 67/77 | €6,192 | €7,475 | +€1,283 | +20.7% |
| Profit (loss) for the period | 9904 | €15,207 | €22,283 | +€7,076 | +46.5% |
| Profit (loss) for the period to be appropriated | 9905 | €15,207 | €22,283 | +€7,076 | +46.5% |
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 13 October 2026 via checked.be.