VAMAC - INVEST: what changed
VAMAC - INVEST
Largest movements
- Cash -€243,294
down €243,294 (-99.5%), from €244,552 to €1,258
mainly Contributions, distributions and other (-€200,000) and Receivables within one year (-€122,022)
- Receivables within one year +€122,022
up €122,022 (+520%), from €23,470 to €145,492
of which Trade receivables: +€121,000
- Reserves -€137,274
down €137,274 (-10.6%), from €1.3m to €1.2m
- Financial income -€209,163
down €209,163 (-99.4%), from €210,448 to €1,285
- Gross operating margin +€94,338
up €94,338, from -€2,246 to €92,093
- Financial charges +€53,830
up €53,830, from -€53,690 to €140
- Taxes +€8,943
up €8,943 (+43.8%), from €20,421 to €29,364
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,334,751 | €1,213,461 | -€121,290 | -9.1% |
| Fixed assets | 21/28 | €1,066,200 | €1,066,200 | = | 0.0% |
| Financial fixed assets | 28 | €1,066,200 | €1,066,200 | = | 0.0% |
| Current assets | 29/58 | €268,551 | €147,261 | -€121,290 | -45.2% |
| Amounts receivable within one year | 40/41 | €23,470 | €145,492 | +€122,022 | +520% |
| Trade receivables | 40 | - | €121,000 | +€121,000 | |
| Other amounts receivable | 41 | €23,470 | €24,492 | +€1,022 | +4.4% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €244,552 | €1,258 | -€243,294 | -99.5% |
| Deferred charges and accrued income | 490/1 | €528 | €510 | -€18 | -3.4% |
| Total equity and liabilities | 10/49 | €1,334,751 | €1,213,461 | -€121,290 | -9.1% |
| Equity | 10/15 | €1,319,576 | €1,182,302 | -€137,274 | -10.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | - | -€18,600 | |
| Other | 1109/19 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €1,300,976 | €1,163,702 | -€137,274 | -10.6% |
| Distributable reserves | 133 | €1,300,976 | €1,163,702 | -€137,274 | -10.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €15,175 | €31,159 | +€15,984 | +105% |
| Amounts payable within one year | 42/48 | €15,175 | €31,159 | +€15,984 | +105% |
| Trade debts | 44 | €38 | €336 | +€298 | +789% |
| Suppliers | 440/4 | €38 | €336 | +€298 | +789% |
| Taxes, remuneration and social security | 45 | €15,118 | €25,804 | +€10,686 | +70.7% |
| Taxes | 450/3 | €15,118 | €22,735 | +€7,617 | +50.4% |
| Remuneration and social security | 454/9 | - | €3,069 | +€3,069 | |
| Other amounts payable | 47/48 | €19 | €5,019 | +€5,000 | +26,001% |
| Other operating charges | 640/8 | €1,115 | €1,148 | +€34 | +3.0% |
| Gross operating margin | 9900 | -€2,246 | €92,093 | +€94,338 | |
| Operating profit (loss) | 9901 | -€3,360 | €90,945 | +€94,305 | |
| Financial income | 75/76B | €210,448 | €1,285 | -€209,163 | -99.4% |
| Recurring financial income | 75 | €210,448 | €1,285 | -€209,163 | -99.4% |
| Financial charges | 65/66B | -€53,690 | €140 | +€53,830 | |
| Recurring financial charges | 65 | -€53,690 | €140 | +€53,830 | |
| Profit (loss) for the period before taxes | 9903 | €260,778 | €92,090 | -€168,689 | -64.7% |
| Income taxes | 67/77 | €20,421 | €29,364 | +€8,943 | +43.8% |
| Profit (loss) for the period | 9904 | €240,358 | €62,726 | -€177,631 | -73.9% |
| Profit (loss) for the period to be appropriated | 9905 | €240,358 | €62,726 | -€177,631 | -73.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.