VAMAFIN: 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.
VAMAFIN
Largest movements
- Cash +€6,999
up €6,999 (+53.3%), from €13,119 to €20,117
mainly Other debts (+€36,856) and Net result for the year (+€16,658)
- Other debts +€36,856
up €36,856 (+15.4%), from €238,911 to €275,767
- Reserves -€17,601
down €17,601 (-9.4%), from €186,516 to €168,915
- Tax, wage and social debts -€5,540
down €5,540 (-31.6%), from €17,521 to €11,981
of which Taxes: -€6,855
- Gross operating margin -€62,608
down €62,608 (-46.7%), from €133,952 to €71,345
- Staff costs +€35,363
new in 2025: €35,363
- Taxes -€31,046
down €31,046 (-76.7%), from €40,472 to €9,426
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 | €475,708 | €485,755 | +€10,047 | +2.1% |
| Fixed assets | 21/28 | €439,912 | €443,857 | +€3,944 | +0.9% |
| Tangible fixed assets | 22/27 | €412 | €4,357 | +€3,944 | +956.3% |
| Land and buildings | 22 | €412 | €344 | -€69 | -16.7% |
| Furniture and vehicles | 24 | - | €4,013 | +€4,013 | |
| Financial fixed assets | 28 | €439,500 | €439,500 | = | 0.0% |
| Current assets | 29/58 | €35,796 | €41,898 | +€6,102 | +17.0% |
| Stocks and contracts in progress | 3 | €3,165 | €0 | -€3,165 | -100.0% |
| Stocks | 30/36 | €3,165 | €0 | -€3,165 | -100.0% |
| Amounts receivable within one year | 40/41 | €15,131 | €15,714 | +€583 | +3.9% |
| Trade receivables | 40 | €15,125 | €15,125 | = | 0.0% |
| Other amounts receivable | 41 | €6 | €589 | +€583 | +10246.9% |
| Cash at bank and in hand | 54/58 | €13,119 | €20,117 | +€6,999 | +53.3% |
| Deferred charges and accrued income | 490/1 | €4,381 | €6,067 | +€1,686 | +38.5% |
| Total equity and liabilities | 10/49 | €475,708 | €485,755 | +€10,047 | +2.1% |
| Equity | 10/15 | €211,516 | €193,915 | -€17,601 | -8.3% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €186,516 | €168,915 | -€17,601 | -9.4% |
| Distributable reserves | 133 | €186,516 | €168,915 | -€17,601 | -9.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €264,193 | €291,840 | +€27,647 | +10.5% |
| Amounts payable within one year | 42/48 | €260,381 | €288,256 | +€27,875 | +10.7% |
| Trade debts | 44 | €3,950 | €508 | -€3,442 | -87.1% |
| Suppliers | 440/4 | €3,950 | €508 | -€3,442 | -87.1% |
| Taxes, remuneration and social security | 45 | €17,521 | €11,981 | -€5,540 | -31.6% |
| Taxes | 450/3 | €14,751 | €7,895 | -€6,855 | -46.5% |
| Remuneration and social security | 454/9 | €2,770 | €4,086 | +€1,316 | +47.5% |
| Other amounts payable | 47/48 | €238,911 | €275,767 | +€36,856 | +15.4% |
| Accrued charges and deferred income | 492/3 | €3,812 | €3,584 | -€227 | -6.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | - | €35,363 | +€35,363 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69 | €760 | +€692 | +1005.9% |
| Other operating charges | 640/8 | €1,062 | €1,132 | +€70 | +6.5% |
| Gross operating margin | 9900 | €133,952 | €71,345 | -€62,608 | -46.7% |
| Operating profit (loss) | 9901 | €132,821 | €34,090 | -€98,732 | -74.3% |
| Financial income | 75/76B | €0 | €0 | +€0 | +3500.0% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +3500.0% |
| Financial charges | 65/66B | €8,530 | €8,006 | -€524 | -6.1% |
| Recurring financial charges | 65 | €8,530 | €8,006 | -€524 | -6.1% |
| Profit (loss) for the period before taxes | 9903 | €124,292 | €26,084 | -€98,208 | -79.0% |
| Income taxes | 67/77 | €40,472 | €9,426 | -€31,046 | -76.7% |
| Profit (loss) for the period | 9904 | €83,820 | €16,658 | -€67,162 | -80.1% |
| Profit (loss) for the period to be appropriated | 9905 | €83,820 | €16,658 | -€67,162 | -80.1% |
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 10 October 2026 via checked.be.