VAHOMA: 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.
VAHOMA
Largest movements
- Receivables within one year +€455,175
up €455,175 (+198%), from €229,864 to €685,039
of which Trade receivables: +€408,214
- Tangible fixed assets +€388,929
up €388,929 (+20.2%), from €1.9m to €2.3m
of which Land and buildings: +€544,416
- Cash -€339,761
down €339,761 (-91.4%), from €371,702 to €31,941
mainly Investment in fixed assets (net) (-€558,586) and Receivables within one year (-€455,175)
- Stocks and contracts -€234,297
no longer reported in 2025 (was €234,297)
- Other debts +€223,388
up €223,388 (+449%), from €49,774 to €273,162
- Debts after one year -€115,064
down €115,064 (-7.0%), from €1.6m to €1.5m
- Reserves +€94,000
up €94,000 (+11.1%), from €846,006 to €940,006
- Trade debts +€79,411
up €79,411 (+844%), from €9,414 to €88,825
- Gross operating margin -€427,022
down €427,022 (-47.8%), from €893,061 to €466,039
- Taxes -€131,666
down €131,666 (-69.0%), from €190,825 to €59,159
- Other operating charges +€54,140
up €54,140 (+144%), from €37,681 to €91,821
- Depreciation -€48,347
down €48,347 (-22.2%), from €218,005 to €169,658
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 | €4,789,128 | €5,034,977 | +€245,849 | +5.1% |
| Fixed assets | 21/28 | €3,925,641 | €4,314,570 | +€388,929 | +9.9% |
| Tangible fixed assets | 22/27 | €1,925,641 | €2,314,570 | +€388,929 | +20.2% |
| Land and buildings | 22 | €1,709,983 | €2,254,399 | +€544,416 | +31.8% |
| Plant, machinery and equipment | 23 | €21,574 | €5,752 | -€15,823 | -73.3% |
| Furniture and vehicles | 24 | €194,084 | €54,419 | -€139,665 | -72.0% |
| Financial fixed assets | 28 | €2,000,000 | €2,000,000 | = | 0.0% |
| Current assets | 29/58 | €863,487 | €720,407 | -€143,080 | -16.6% |
| Stocks and contracts in progress | 3 | €234,297 | - | -€234,297 | |
| Stocks | 30/36 | €234,297 | - | -€234,297 | |
| Amounts receivable within one year | 40/41 | €229,864 | €685,039 | +€455,175 | +198% |
| Trade receivables | 40 | €26,824 | €435,039 | +€408,214 | +1,522% |
| Other amounts receivable | 41 | €203,040 | €250,000 | +€46,960 | +23.1% |
| Cash at bank and in hand | 54/58 | €371,702 | €31,941 | -€339,761 | -91.4% |
| Deferred charges and accrued income | 490/1 | €27,625 | €3,427 | -€24,197 | -87.6% |
| Total equity and liabilities | 10/49 | €4,789,128 | €5,034,977 | +€245,849 | +5.1% |
| Equity | 10/15 | €2,882,885 | €2,977,887 | +€95,002 | +3.3% |
| Contributions | 10/11 | €2,040,000 | €2,040,000 | = | 0.0% |
| Reserves | 13 | €846,006 | €940,006 | +€94,000 | +11.1% |
| Distributable reserves | 133 | €846,006 | €940,006 | +€94,000 | +11.1% |
| Profit (loss) carried forward | 14 | -€3,121 | -€2,119 | +€1,002 | +32.1% |
| Amounts payable | 17/49 | €1,906,243 | €2,057,090 | +€150,846 | +7.9% |
| Amounts payable after more than one year | 17 | €1,640,450 | €1,525,386 | -€115,064 | -7.0% |
| Financial debts | 170/4 | €1,640,450 | €1,525,386 | -€115,064 | -7.0% |
| Amounts payable within one year | 42/48 | €243,390 | €509,900 | +€266,510 | +109% |
| Current portion of amounts payable after more than one year | 42 | €111,869 | €115,064 | +€3,196 | +2.9% |
| Trade debts | 44 | €9,414 | €88,825 | +€79,411 | +844% |
| Suppliers | 440/4 | €9,414 | €88,825 | +€79,411 | +844% |
| Taxes, remuneration and social security | 45 | €72,334 | €32,849 | -€39,484 | -54.6% |
| Taxes | 450/3 | €72,334 | €32,849 | -€39,484 | -54.6% |
| Other amounts payable | 47/48 | €49,774 | €273,162 | +€223,388 | +449% |
| Accrued charges and deferred income | 492/3 | €22,403 | €21,804 | -€599 | -2.7% |
| Non-recurring operating income | 76A | €2,000 | €0 | -€2,000 | -100.0% |
| Remuneration, social security and pensions | 62 | €5,217 | €4,085 | -€1,133 | -21.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €218,005 | €169,658 | -€48,347 | -22.2% |
| Other operating charges | 640/8 | €37,681 | €91,821 | +€54,140 | +144% |
| Gross operating margin | 9900 | €893,061 | €466,039 | -€427,022 | -47.8% |
| Operating profit (loss) | 9901 | €632,158 | €200,476 | -€431,682 | -68.3% |
| Financial income | 75/76B | €2,472 | €8,985 | +€6,513 | +263% |
| Recurring financial income | 75 | €2,472 | €8,985 | +€6,513 | +263% |
| Financial charges | 65/66B | €30,211 | €26,299 | -€3,912 | -12.9% |
| Recurring financial charges | 65 | €30,211 | €26,299 | -€3,912 | -12.9% |
| Profit (loss) for the period before taxes | 9903 | €604,419 | €183,161 | -€421,257 | -69.7% |
| Income taxes | 67/77 | €190,825 | €59,159 | -€131,666 | -69.0% |
| Profit (loss) for the period | 9904 | €413,593 | €124,002 | -€289,591 | -70.0% |
| Profit (loss) for the period to be appropriated | 9905 | €413,593 | €124,002 | -€289,591 | -70.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.