VAHIDA: 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.
VAHIDA
Largest movements
- Cash +€25,424
up €25,424 (+130.0%), from €19,553 to €44,977
mainly Net result for the year (+€51,099) and Depreciation (+€26,892)
- Tangible fixed assets -€24,392
down €24,392 (-5.7%), from €425,894 to €401,502
of which Other tangible fixed assets: -€14,558
- Receivables within one year +€21,920
up €21,920 (+45.5%), from €48,165 to €70,085
of which Trade receivables: +€24,075
- Reserves +€38,114
up €38,114 (+15.2%), from €250,812 to €288,926
of which Distributable reserves: +€40,000
- Debts after one year -€17,973
down €17,973 (-32.1%), from €56,060 to €38,087
- Gross operating margin +€39,427
up €39,427 (+62.9%), from €62,681 to €102,108
- Taxes +€11,508
up €11,508 (+134.8%), from €8,535 to €20,042
- Financial income -€1,370
down €1,370 (-35.8%), from €3,825 to €2,455
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 | €506,736 | €530,411 | +€23,676 | +4.7% |
| Fixed assets | 21/28 | €425,894 | €401,502 | -€24,392 | -5.7% |
| Tangible fixed assets | 22/27 | €425,894 | €401,502 | -€24,392 | -5.7% |
| Land and buildings | 22 | €299,038 | €289,688 | -€9,350 | -3.1% |
| Furniture and vehicles | 24 | €845 | €361 | -€484 | -57.3% |
| Other tangible fixed assets | 26 | €126,011 | €111,453 | -€14,558 | -11.6% |
| Current assets | 29/58 | €80,842 | €128,909 | +€48,067 | +59.5% |
| Amounts receivable within one year | 40/41 | €48,165 | €70,085 | +€21,920 | +45.5% |
| Trade receivables | 40 | €39,359 | €63,434 | +€24,075 | +61.2% |
| Other amounts receivable | 41 | €8,806 | €6,651 | -€2,155 | -24.5% |
| Current investments | 50/53 | €9,549 | €10,971 | +€1,422 | +14.9% |
| Cash at bank and in hand | 54/58 | €19,553 | €44,977 | +€25,424 | +130.0% |
| Deferred charges and accrued income | 490/1 | €3,575 | €2,877 | -€698 | -19.5% |
| Total equity and liabilities | 10/49 | €506,736 | €530,411 | +€23,676 | +4.7% |
| Equity | 10/15 | €380,688 | €421,787 | +€41,099 | +10.8% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €250,812 | €288,926 | +€38,114 | +15.2% |
| Tax-exempt reserves | 132 | €60,105 | €58,219 | -€1,886 | -3.1% |
| Distributable reserves | 133 | €190,707 | €230,707 | +€40,000 | +21.0% |
| Profit (loss) carried forward | 14 | €109,416 | €112,401 | +€2,985 | +2.7% |
| Provisions and deferred taxes | 16 | €20,035 | €19,406 | -€629 | -3.1% |
| Deferred taxes | 168 | €20,035 | €19,406 | -€629 | -3.1% |
| Amounts payable | 17/49 | €106,013 | €89,218 | -€16,795 | -15.8% |
| Amounts payable after more than one year | 17 | €56,060 | €38,087 | -€17,973 | -32.1% |
| Financial debts | 170/4 | €56,060 | €38,087 | -€17,973 | -32.1% |
| Amounts payable within one year | 42/48 | €49,393 | €50,180 | +€787 | +1.6% |
| Current portion of amounts payable after more than one year | 42 | €17,296 | €17,973 | +€678 | +3.9% |
| Trade debts | 44 | €3,380 | €2,503 | -€877 | -25.9% |
| Suppliers | 440/4 | €3,380 | €2,503 | -€877 | -25.9% |
| Taxes, remuneration and social security | 45 | €16,967 | €20,204 | +€3,237 | +19.1% |
| Taxes | 450/3 | €16,967 | €19,113 | +€2,145 | +12.6% |
| Remuneration and social security | 454/9 | - | €1,091 | +€1,091 | |
| Other amounts payable | 47/48 | €11,750 | €9,500 | -€2,250 | -19.1% |
| Accrued charges and deferred income | 492/3 | €560 | €951 | +€391 | +69.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,200 | €26,892 | +€692 | +2.6% |
| Other operating charges | 640/8 | €4,481 | €4,532 | +€51 | +1.1% |
| Gross operating margin | 9900 | €62,681 | €102,108 | +€39,427 | +62.9% |
| Operating profit (loss) | 9901 | €32,000 | €70,685 | +€38,684 | +120.9% |
| Financial income | 75/76B | €3,825 | €2,455 | -€1,370 | -35.8% |
| Recurring financial income | 75 | €3,825 | €2,455 | -€1,370 | -35.8% |
| Financial charges | 65/66B | €3,187 | €2,627 | -€560 | -17.6% |
| Recurring financial charges | 65 | €3,187 | €2,627 | -€560 | -17.6% |
| Profit (loss) for the period before taxes | 9903 | €32,639 | €70,513 | +€37,874 | +116.0% |
| Transfer from deferred taxes | 780 | €629 | €629 | = | 0.0% |
| Income taxes | 67/77 | €8,535 | €20,042 | +€11,508 | +134.8% |
| Profit (loss) for the period | 9904 | €24,732 | €51,099 | +€26,367 | +106.6% |
| Transfer from tax-exempt reserves | 789 | €1,886 | €1,886 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €26,618 | €52,985 | +€26,367 | +99.1% |
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.