VAMACO: 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.
VAMACO
Largest movements
- Receivables within one year -€327,405
down €327,405 (-98.9%), from €330,952 to €3,547
- Deferred charges and accrued income -€220,246
down €220,246 (-100.0%), from €220,246 to €0
- Financial fixed assets -€174,043
down €174,043 (-25.6%), from €679,043 to €505,000
- Receivables after one year +€171,000
up €171,000, from €0 to €171,000
- Reserves -€557,184
down €557,184 (-44.6%), from €1.2m to €691,007
of which Distributable reserves: -€553,989
- Financial charges -€149,593
down €149,593 (-98.0%), from €152,696 to €3,102
of which Non-recurring financial charges: -€152,645
- Financial income -€14,733
down €14,733 (-100.0%), from €14,733 to €0
- Taxes -€3,539
down €3,539 (-100.0%), from €3,539 to €0
- Gross operating margin -€1,769
down €1,769 (-11.5%), from €15,379 to €13,609
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 | €1,600,326 | €1,033,503 | -€566,823 | -35.4% |
| Fixed assets | 21/28 | €1,047,748 | €858,684 | -€189,064 | -18.0% |
| Tangible fixed assets | 22/27 | €368,705 | €353,684 | -€15,021 | -4.1% |
| Land and buildings | 22 | €368,705 | €353,684 | -€15,021 | -4.1% |
| Financial fixed assets | 28 | €679,043 | €505,000 | -€174,043 | -25.6% |
| Current assets | 29/58 | €552,578 | €174,819 | -€377,759 | -68.4% |
| Amounts receivable after more than one year | 29 | €0 | €171,000 | +€171,000 | |
| Other amounts receivable | 291 | €0 | €171,000 | +€171,000 | |
| Amounts receivable within one year | 40/41 | €330,952 | €3,547 | -€327,405 | -98.9% |
| Other amounts receivable | 41 | €330,952 | €3,547 | -€327,405 | -98.9% |
| Cash at bank and in hand | 54/58 | €1,380 | €272 | -€1,108 | -80.3% |
| Deferred charges and accrued income | 490/1 | €220,246 | €0 | -€220,246 | -100.0% |
| Total equity and liabilities | 10/49 | €1,600,326 | €1,033,503 | -€566,823 | -35.4% |
| Equity | 10/15 | €1,310,192 | €753,007 | -€557,184 | -42.5% |
| 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 | €1,248,192 | €691,007 | -€557,184 | -44.6% |
| Non-distributable reserves | 130/1 | €50,818 | €50,818 | = | 0.0% |
| Legal reserve | 130 | €50,818 | €50,818 | = | 0.0% |
| Tax-exempt reserves | 132 | €27,391 | €24,195 | -€3,196 | -11.7% |
| Distributable reserves | 133 | €1,169,983 | €615,994 | -€553,989 | -47.4% |
| Provisions and deferred taxes | 16 | €14,104 | €12,459 | -€1,645 | -11.7% |
| Deferred taxes | 168 | €14,104 | €12,459 | -€1,645 | -11.7% |
| Amounts payable | 17/49 | €276,030 | €268,037 | -€7,993 | -2.9% |
| Amounts payable within one year | 42/48 | €274,646 | €266,672 | -€7,974 | -2.9% |
| Trade debts | 44 | €0 | - | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €3,539 | €0 | -€3,539 | -100.0% |
| Taxes | 450/3 | €3,539 | €0 | -€3,539 | -100.0% |
| Other amounts payable | 47/48 | €271,107 | €266,672 | -€4,435 | -1.6% |
| Accrued charges and deferred income | 492/3 | €1,383 | €1,365 | -€19 | -1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,021 | €15,021 | = | 0.0% |
| Other operating charges | 640/8 | €6,619 | €6,665 | +€47 | +0.7% |
| Non-recurring operating charges | 66A | - | €547,651 | +€547,651 | |
| Gross operating margin | 9900 | €15,379 | €13,609 | -€1,769 | -11.5% |
| Operating profit (loss) | 9901 | -€6,261 | -€555,728 | -€549,466 | -8775.8% |
| Financial income | 75/76B | €14,733 | €0 | -€14,733 | -100.0% |
| Recurring financial income | 75 | €14,733 | €0 | -€14,733 | -100.0% |
| Financial charges | 65/66B | €152,696 | €3,102 | -€149,593 | -98.0% |
| Recurring financial charges | 65 | €51 | €3,102 | +€3,051 | +5982.9% |
| Non-recurring financial charges | 66B | €152,645 | €0 | -€152,645 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | -€144,224 | -€558,830 | -€414,606 | -287.5% |
| Transfer from deferred taxes | 780 | €1,645 | €1,645 | = | 0.0% |
| Income taxes | 67/77 | €3,539 | €0 | -€3,539 | -100.0% |
| Profit (loss) for the period | 9904 | -€146,117 | -€557,184 | -€411,067 | -281.3% |
| Transfer from tax-exempt reserves | 789 | €3,196 | €3,196 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€142,922 | -€553,989 | -€411,067 | -287.6% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.