VAJ TECHNICS: 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.
VAJ TECHNICS
Largest movements
- Receivables within one year +€28,646
up €28,646 (+814%), from €3,520 to €32,165
of which Trade receivables: +€30,095
- Cash +€12,677
up €12,677 (+48.8%), from €25,998 to €38,675
mainly Net result for the year (+€23,500) and Trade debts (+€6,114)
- Tangible fixed assets -€1,078
down €1,078 (-52.6%), from €2,050 to €972
of which Plant, machinery and equipment: -€886
- Reserves +€14,320
new in 2025: €14,320
- Profit (loss) carried forward +€9,180
up €9,180 (+45.5%), from €20,170 to €29,350
- Trade debts +€6,114
up €6,114 (+445%), from €1,375 to €7,489
- Tax, wage and social debts +€6,093
up €6,093 (+121%), from €5,043 to €11,136
- Accrued charges and deferred income +€5,820
up €5,820 (+57,454%), from €10 to €5,830
- Gross operating margin +€5,851
up €5,851 (+20.5%), from €28,599 to €34,449
- Taxes +€3,750
up €3,750 (+74.4%), from €5,043 to €8,792
- Other operating charges -€729
down €729 (-54.6%), from €1,336 to €607
- Depreciation -€466
down €466 (-30.2%), from €1,544 to €1,078
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 | €31,568 | €71,939 | +€40,371 | +128% |
| Fixed assets | 21/28 | €2,050 | €972 | -€1,078 | -52.6% |
| Tangible fixed assets | 22/27 | €2,050 | €972 | -€1,078 | -52.6% |
| Plant, machinery and equipment | 23 | €1,702 | €816 | -€886 | -52.0% |
| Furniture and vehicles | 24 | €349 | €156 | -€193 | -55.2% |
| Current assets | 29/58 | €29,518 | €70,967 | +€41,449 | +140% |
| Amounts receivable within one year | 40/41 | €3,520 | €32,165 | +€28,646 | +814% |
| Trade receivables | 40 | €1,756 | €31,850 | +€30,095 | +1,714% |
| Other amounts receivable | 41 | €1,764 | €315 | -€1,449 | -82.1% |
| Cash at bank and in hand | 54/58 | €25,998 | €38,675 | +€12,677 | +48.8% |
| Deferred charges and accrued income | 490/1 | - | €126 | +€126 | |
| Total equity and liabilities | 10/49 | €31,568 | €71,939 | +€40,371 | +128% |
| Equity | 10/15 | €21,670 | €45,170 | +€23,500 | +108% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | - | €14,320 | +€14,320 | |
| Distributable reserves | 133 | - | €14,320 | +€14,320 | |
| Profit (loss) carried forward | 14 | €20,170 | €29,350 | +€9,180 | +45.5% |
| Amounts payable | 17/49 | €9,898 | €26,769 | +€16,871 | +170% |
| Amounts payable within one year | 42/48 | €9,888 | €20,938 | +€11,051 | +112% |
| Trade debts | 44 | €1,375 | €7,489 | +€6,114 | +445% |
| Suppliers | 440/4 | €1,375 | €7,489 | +€6,114 | +445% |
| Taxes, remuneration and social security | 45 | €5,043 | €11,136 | +€6,093 | +121% |
| Taxes | 450/3 | €5,043 | €11,136 | +€6,093 | +121% |
| Other amounts payable | 47/48 | €3,470 | €2,314 | -€1,156 | -33.3% |
| Accrued charges and deferred income | 492/3 | €10 | €5,830 | +€5,820 | +57,454% |
| Non-recurring operating income | 76A | €582 | €0 | -€582 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,544 | €1,078 | -€466 | -30.2% |
| Other operating charges | 640/8 | €1,336 | €607 | -€729 | -54.6% |
| Non-recurring operating charges | 66A | - | €0 | = | |
| Gross operating margin | 9900 | €28,599 | €34,449 | +€5,851 | +20.5% |
| Operating profit (loss) | 9901 | €25,718 | €32,764 | +€7,046 | +27.4% |
| Financial income | 75/76B | €2 | €17 | +€15 | +833% |
| Recurring financial income | 75 | €2 | €17 | +€15 | +833% |
| Financial charges | 65/66B | €508 | €488 | -€19 | -3.8% |
| Recurring financial charges | 65 | €508 | €488 | -€19 | -3.8% |
| Profit (loss) for the period before taxes | 9903 | €25,212 | €32,293 | +€7,080 | +28.1% |
| Income taxes | 67/77 | €5,043 | €8,792 | +€3,750 | +74.4% |
| Profit (loss) for the period | 9904 | €20,170 | €23,500 | +€3,330 | +16.5% |
| Profit (loss) for the period to be appropriated | 9905 | €20,170 | €23,500 | +€3,330 | +16.5% |
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 14 October 2026 via checked.be.