VAMA: 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.
VAMA
Largest movements
- Receivables within one year +€11,987
up €11,987 (+7.2%), from €165,661 to €177,648
- Tangible fixed assets -€11,030
down €11,030 (-10.7%), from €103,337 to €92,307
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€1,312
down €1,312 (-21.2%), from €6,189 to €4,876
- Financial income -€682
down €682 (-7.9%), from €8,669 to €7,987
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 | €290,410 | €290,664 | +€254 | +0.1% |
| Fixed assets | 21/28 | €103,337 | €92,307 | -€11,030 | -10.7% |
| Tangible fixed assets | 22/27 | €103,337 | €92,307 | -€11,030 | -10.7% |
| Land and buildings | 22 | €103,337 | €92,307 | -€11,030 | -10.7% |
| Current assets | 29/58 | €187,073 | €198,356 | +€11,284 | +6.0% |
| Amounts receivable within one year | 40/41 | €165,661 | €177,648 | +€11,987 | +7.2% |
| Other amounts receivable | 41 | €165,661 | €177,648 | +€11,987 | +7.2% |
| Cash at bank and in hand | 54/58 | €21,412 | €20,709 | -€703 | -3.3% |
| Total equity and liabilities | 10/49 | €290,410 | €290,664 | +€254 | +0.1% |
| Equity | 10/15 | €290,224 | €290,476 | +€252 | +0.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €222,024 | €222,276 | +€252 | +0.1% |
| Amounts payable | 17/49 | €186 | €188 | +€2 | +1.1% |
| Amounts payable within one year | 42/48 | €186 | €188 | +€2 | +1.1% |
| Trade debts | 44 | €186 | €188 | +€2 | +1.1% |
| Suppliers | 440/4 | €186 | €188 | +€2 | +1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,030 | €11,030 | = | 0.0% |
| Other operating charges | 640/8 | €1,552 | €1,536 | -€15 | -1.0% |
| Gross operating margin | 9900 | €6,189 | €4,876 | -€1,312 | -21.2% |
| Operating profit (loss) | 9901 | -€6,393 | -€7,690 | -€1,297 | -20.3% |
| Financial income | 75/76B | €8,669 | €7,987 | -€682 | -7.9% |
| Recurring financial income | 75 | €8,669 | €7,987 | -€682 | -7.9% |
| Financial charges | 65/66B | €45 | €45 | = | 0.0% |
| Recurring financial charges | 65 | €45 | €45 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €2,231 | €252 | -€1,979 | -88.7% |
| Profit (loss) for the period | 9904 | €2,231 | €252 | -€1,979 | -88.7% |
| Profit (loss) for the period to be appropriated | 9905 | €2,231 | €252 | -€1,979 | -88.7% |
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 9 October 2026 via checked.be.