Vaigo: 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.
Vaigo
Largest movements
- Cash +€303,231
up €303,231 (+274%), from €110,851 to €414,082
mainly Debts after one year (+€490,808) and Contributions, distributions and other (+€370,000)
- Intangible fixed assets +€258,644
up €258,644 (+4,163%), from €6,213 to €264,857
- Receivables within one year -€103,405
down €103,405 (-67.1%), from €154,173 to €50,768
of which Trade receivables: -€85,502
- Deferred charges and accrued income +€26,882
up €26,882 (+74.1%), from €36,290 to €63,173
- Formation expenses +€17,705
new in 2025: €17,705
- Debts after one year +€490,808
new in 2025: €490,808
- Contributions +€370,000
up €370,000 (+1,233%), from €30,000 to €400,000
- Profit (loss) carried forward -€319,747
down €319,747 (-1,838%), from -€17,395 to -€337,142
- Accrued charges and deferred income -€18,382
down €18,382 (-51.3%), from €35,815 to €17,433
- Trade debts -€12,660
down €12,660 (-9.5%), from €133,213 to €120,552
- Gross operating margin -€1.2m
down €1.2m (-70.2%), from €1.7m to €500,987
- Staff costs +€412,048
up €412,048 (+109%), from €379,581 to €791,629
- Taxes -€313,264
down €313,264, from €313,245 to -€19
- Depreciation -€18,824
down €18,824 (-70.1%), from €26,836 to €8,012
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 | €309,572 | €825,081 | +€515,509 | +167% |
| Formation expenses | 20 | - | €17,705 | +€17,705 | |
| Fixed assets | 21/28 | €8,258 | €279,353 | +€271,096 | +3,283% |
| Intangible fixed assets | 21 | €6,213 | €264,857 | +€258,644 | +4,163% |
| Tangible fixed assets | 22/27 | €953 | €13,255 | +€12,302 | +1,291% |
| Plant, machinery and equipment | 23 | €953 | €10,760 | +€9,807 | +1,029% |
| Furniture and vehicles | 24 | €0 | €2,495 | +€2,495 | |
| Financial fixed assets | 28 | €1,092 | €1,242 | +€150 | +13.7% |
| Current assets | 29/58 | €301,315 | €528,023 | +€226,708 | +75.2% |
| Amounts receivable within one year | 40/41 | €154,173 | €50,768 | -€103,405 | -67.1% |
| Trade receivables | 40 | €120,982 | €35,480 | -€85,502 | -70.7% |
| Other amounts receivable | 41 | €33,191 | €15,288 | -€17,903 | -53.9% |
| Cash at bank and in hand | 54/58 | €110,851 | €414,082 | +€303,231 | +274% |
| Deferred charges and accrued income | 490/1 | €36,290 | €63,173 | +€26,882 | +74.1% |
| Total equity and liabilities | 10/49 | €309,572 | €825,081 | +€515,509 | +167% |
| Equity | 10/15 | €12,605 | €62,858 | +€50,253 | +399% |
| Contributions | 10/11 | €30,000 | €400,000 | +€370,000 | +1,233% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€17,395 | -€337,142 | -€319,747 | -1,838% |
| Amounts payable | 17/49 | €296,967 | €762,223 | +€465,256 | +157% |
| Amounts payable after more than one year | 17 | - | €490,808 | +€490,808 | |
| Financial debts | 170/4 | - | €490,808 | +€490,808 | |
| Amounts payable within one year | 42/48 | €261,153 | €253,982 | -€7,170 | -2.7% |
| Current portion of amounts payable after more than one year | 42 | €0 | €9,192 | +€9,192 | |
| Trade debts | 44 | €133,213 | €120,552 | -€12,660 | -9.5% |
| Suppliers | 440/4 | €133,213 | €120,552 | -€12,660 | -9.5% |
| Taxes, remuneration and social security | 45 | €127,940 | €124,238 | -€3,702 | -2.9% |
| Taxes | 450/3 | €77,818 | €19,603 | -€58,215 | -74.8% |
| Remuneration and social security | 454/9 | €50,122 | €104,635 | +€54,513 | +109% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €35,815 | €17,433 | -€18,382 | -51.3% |
| Non-recurring operating income | 76A | €1,264,933 | €314 | -€1.3m | -100.0% |
| Remuneration, social security and pensions | 62 | €379,581 | €791,629 | +€412,048 | +109% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,836 | €8,012 | -€18,824 | -70.1% |
| Other operating charges | 640/8 | €387 | €2,073 | +€1,685 | +435% |
| Non-recurring operating charges | 66A | €21,984 | €385 | -€21,599 | -98.2% |
| Gross operating margin | 9900 | €1,679,106 | €500,987 | -€1.2m | -70.2% |
| Operating profit (loss) | 9901 | €1,250,318 | -€301,112 | -€1.6m | |
| Financial income | 75/76B | €139 | €18 | -€121 | -86.8% |
| Recurring financial income | 75 | €139 | €18 | -€121 | -86.8% |
| Financial charges | 65/66B | €5,918 | €18,673 | +€12,755 | +216% |
| Recurring financial charges | 65 | €5,918 | €18,673 | +€12,755 | +216% |
| Profit (loss) for the period before taxes | 9903 | €1,244,539 | -€319,766 | -€1.6m | |
| Income taxes | 67/77 | €313,245 | -€19 | -€313,264 | |
| Profit (loss) for the period | 9904 | €931,294 | -€319,747 | -€1.3m | |
| Profit (loss) for the period to be appropriated | 9905 | €931,294 | -€319,747 | -€1.3m |
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 20 October 2026 via checked.be.