Vaja: 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.
Vaja
Largest movements
- Receivables after one year -€76,749
down €76,749 (-88.5%), from €86,749 to €10,000
- Receivables within one year -€40,150
down €40,150 (-31.5%), from €127,283 to €87,133
of which Trade receivables: -€58,696
- Cash +€22,941
up €22,941 (+35.2%), from €65,111 to €88,053
mainly Receivables after one year (+€76,749) and Depreciation (+€41,619)
- Tangible fixed assets -€13,084
down €13,084 (-3.7%), from €351,934 to €338,850
of which Land and buildings: -€11,137
- Stocks and contracts +€11,176
up €11,176 (+38.7%), from €28,849 to €40,025
- Reserves -€89,669
down €89,669 (-29.0%), from €309,475 to €219,806
of which Distributable reserves: -€89,669
- Debts after one year -€34,532
down €34,532 (-31.3%), from €110,427 to €75,895
- Short-term financial debts +€24,316
up €24,316 (+42.7%), from €56,888 to €81,203
- Trade debts +€15,465
up €15,465 (+13.2%), from €117,505 to €132,970
- Current portion of long-term debt -€7,428
down €7,428 (-17.6%), from €42,126 to €34,698
- Gross operating margin -€60,284
down €60,284 (-10.8%), from €559,442 to €499,158
- Staff costs +€15,098
up €15,098 (+4.1%), from €366,766 to €381,864
- Taxes -€6,252
down €6,252 (-18.4%), from €33,892 to €27,640
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 | €707,935 | €602,707 | -€105,228 | -14.9% |
| Fixed assets | 21/28 | €388,633 | €368,026 | -€20,607 | -5.3% |
| Intangible fixed assets | 21 | €36,699 | €29,176 | -€7,524 | -20.5% |
| Tangible fixed assets | 22/27 | €351,934 | €338,850 | -€13,084 | -3.7% |
| Land and buildings | 22 | €304,173 | €293,036 | -€11,137 | -3.7% |
| Plant, machinery and equipment | 23 | €37,598 | €35,153 | -€2,445 | -6.5% |
| Furniture and vehicles | 24 | €10,162 | €10,660 | +€498 | +4.9% |
| Current assets | 29/58 | €319,302 | €234,682 | -€84,621 | -26.5% |
| Amounts receivable after more than one year | 29 | €86,749 | €10,000 | -€76,749 | -88.5% |
| Other amounts receivable | 291 | €86,749 | €10,000 | -€76,749 | -88.5% |
| Stocks and contracts in progress | 3 | €28,849 | €40,025 | +€11,176 | +38.7% |
| Stocks | 30/36 | €28,849 | €40,025 | +€11,176 | +38.7% |
| Amounts receivable within one year | 40/41 | €127,283 | €87,133 | -€40,150 | -31.5% |
| Trade receivables | 40 | €71,162 | €12,466 | -€58,696 | -82.5% |
| Other amounts receivable | 41 | €56,122 | €74,667 | +€18,546 | +33.0% |
| Cash at bank and in hand | 54/58 | €65,111 | €88,053 | +€22,941 | +35.2% |
| Deferred charges and accrued income | 490/1 | €11,309 | €9,471 | -€1,838 | -16.3% |
| Total equity and liabilities | 10/49 | €707,935 | €602,707 | -€105,228 | -14.9% |
| Equity | 10/15 | €328,100 | €238,431 | -€89,669 | -27.3% |
| Contributions | 10/11 | €18,626 | €18,626 | = | 0.0% |
| Reserves | 13 | €309,475 | €219,806 | -€89,669 | -29.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €290,725 | €201,056 | -€89,669 | -30.8% |
| Amounts payable | 17/49 | €379,835 | €364,276 | -€15,559 | -4.1% |
| Amounts payable after more than one year | 17 | €110,427 | €75,895 | -€34,532 | -31.3% |
| Financial debts | 170/4 | €110,427 | €75,895 | -€34,532 | -31.3% |
| Amounts payable within one year | 42/48 | €263,373 | €288,381 | +€25,008 | +9.5% |
| Current portion of amounts payable after more than one year | 42 | €42,126 | €34,698 | -€7,428 | -17.6% |
| Financial debts | 43 | €56,888 | €81,203 | +€24,316 | +42.7% |
| Credit institutions | 430/8 | €56,888 | €81,203 | +€24,316 | +42.7% |
| Trade debts | 44 | €117,505 | €132,970 | +€15,465 | +13.2% |
| Suppliers | 440/4 | €117,505 | €132,970 | +€15,465 | +13.2% |
| Taxes, remuneration and social security | 45 | €44,769 | €37,425 | -€7,344 | -16.4% |
| Taxes | 450/3 | €14,257 | €2,848 | -€11,408 | -80.0% |
| Remuneration and social security | 454/9 | €30,512 | €34,577 | +€4,064 | +13.3% |
| Other amounts payable | 47/48 | €2,085 | €2,085 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €6,036 | - | -€6,036 | |
| Remuneration, social security and pensions | 62 | €366,766 | €381,864 | +€15,098 | +4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,910 | €41,619 | +€4,709 | +12.8% |
| Other operating charges | 640/8 | €6,528 | €6,929 | +€401 | +6.1% |
| Gross operating margin | 9900 | €559,442 | €499,158 | -€60,284 | -10.8% |
| Operating profit (loss) | 9901 | €149,238 | €68,746 | -€80,492 | -53.9% |
| Financial income | 75/76B | €6,280 | €3,855 | -€2,425 | -38.6% |
| Recurring financial income | 75 | €6,280 | €3,855 | -€2,425 | -38.6% |
| Financial charges | 65/66B | €30,747 | €29,278 | -€1,468 | -4.8% |
| Recurring financial charges | 65 | €30,747 | €29,278 | -€1,468 | -4.8% |
| Profit (loss) for the period before taxes | 9903 | €124,772 | €43,323 | -€81,448 | -65.3% |
| Income taxes | 67/77 | €33,892 | €27,640 | -€6,252 | -18.4% |
| Profit (loss) for the period | 9904 | €90,879 | €15,683 | -€75,196 | -82.7% |
| Profit (loss) for the period to be appropriated | 9905 | €90,879 | €15,683 | -€75,196 | -82.7% |
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 17 October 2026 via checked.be.