VAMAM: 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.
VAMAM
Largest movements
- Receivables within one year +€2,139
up €2,139 (+2.3%), from €94,903 to €97,043
of which Other amounts receivable: +€2,139
- Profit (loss) carried forward +€2,580
up €2,580 (+4.8%), from €53,993 to €56,573
- Financial charges -€24,565
down €24,565 (-99.8%), from €24,624 to €59
of which Non-recurring financial charges: -€18,946
- Gross operating margin -€16,327
down €16,327, from €14,061 to -€2,265
- Staff costs -€3,938
no longer reported in 2025 (was €3,938)
- Other operating charges -€1,348
down €1,348 (-89.7%), from €1,503 to €155
- Financial income -€779
down €779 (-13.3%), from €5,839 to €5,060
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 | €95,050 | €97,285 | +€2,235 | +2.4% |
| Formation expenses | 20 | - | €0 | = | |
| Current assets | 29/58 | €95,050 | €97,285 | +€2,235 | +2.4% |
| Amounts receivable within one year | 40/41 | €94,903 | €97,043 | +€2,139 | +2.3% |
| Trade receivables | 40 | €1,158 | €1,158 | = | 0.0% |
| Other amounts receivable | 41 | €93,745 | €95,884 | +€2,139 | +2.3% |
| Cash at bank and in hand | 54/58 | €147 | €242 | +€95 | +65.1% |
| Total equity and liabilities | 10/49 | €95,050 | €97,285 | +€2,235 | +2.4% |
| Equity | 10/15 | €92,053 | €94,633 | +€2,580 | +2.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | - | -€6,200 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Uncalled capital | 101 | €12,400 | - | -€12,400 | |
| Reserves | 13 | €31,860 | €31,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | - | €1,860 | +€1,860 | |
| Distributable reserves | 133 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €53,993 | €56,573 | +€2,580 | +4.8% |
| Amounts payable | 17/49 | €2,997 | €2,652 | -€346 | -11.5% |
| Amounts payable within one year | 42/48 | €2,997 | €2,652 | -€346 | -11.5% |
| Trade debts | 44 | €2,881 | €2,652 | -€229 | -8.0% |
| Suppliers | 440/4 | €2,881 | €2,652 | -€229 | -8.0% |
| Taxes, remuneration and social security | 45 | €116 | - | -€116 | |
| Taxes | 450/3 | €116 | - | -€116 | |
| Non-recurring operating income | 76A | €83 | - | -€83 | |
| Remuneration, social security and pensions | 62 | €3,938 | - | -€3,938 | |
| Other operating charges | 640/8 | €1,503 | €155 | -€1,348 | -89.7% |
| Non-recurring operating charges | 66A | €532 | - | -€532 | |
| Gross operating margin | 9900 | €14,061 | -€2,265 | -€16,327 | |
| Operating profit (loss) | 9901 | €8,089 | -€2,420 | -€10,509 | |
| Financial income | 75/76B | €5,839 | €5,060 | -€779 | -13.3% |
| Recurring financial income | 75 | €5,839 | €5,060 | -€779 | -13.3% |
| Financial charges | 65/66B | €24,624 | €59 | -€24,565 | -99.8% |
| Recurring financial charges | 65 | €5,677 | €59 | -€5,618 | -99.0% |
| Non-recurring financial charges | 66B | €18,946 | - | -€18,946 | |
| Profit (loss) for the period before taxes | 9903 | -€10,696 | €2,580 | +€13,277 | |
| Income taxes | 67/77 | €116 | - | -€116 | |
| Profit (loss) for the period | 9904 | -€10,813 | €2,580 | +€13,393 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,813 | €2,580 | +€13,393 |
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 6 October 2026 via checked.be.