VAMANA: 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.
VAMANA
Largest movements
- Tangible fixed assets +€43,724
up €43,724 (+49.1%), from €88,969 to €132,693
of which Plant, machinery and equipment: +€45,616
- Cash +€20,871
up €20,871 (+157.3%), from €13,268 to €34,139
mainly Depreciation (+€33,231) and Trade debts (+€27,572)
- Intangible fixed assets -€15,330
down €15,330 (-21.6%), from €70,967 to €55,637
- Stocks and contracts +€7,689
up €7,689 (+52.0%), from €14,791 to €22,480
- Trade debts +€27,572
up €27,572 (+158.8%), from €17,362 to €44,934
- Profit (loss) carried forward +€17,814
up €17,814 (+56.0%), from -€31,811 to -€13,997
- Tax, wage and social debts +€17,253
up €17,253 (+138.0%), from €12,501 to €29,754
of which Taxes: +€14,403
- Debts after one year -€12,070
down €12,070 (-10.5%), from €114,541 to €102,471
- Other debts +€5,468
up €5,468 (+7.4%), from €74,374 to €79,842
- Gross operating margin +€312,110
up €312,110 (+788.4%), from €39,588 to €351,697
- Staff costs +€209,004
up €209,004 (+370.1%), from €56,465 to €265,469
- Financial charges +€27,284
up €27,284 (+550.0%), from €4,961 to €32,244
- Depreciation +€23,595
up €23,595 (+244.9%), from €9,636 to €33,231
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 | €209,242 | €265,839 | +€56,596 | +27.0% |
| Fixed assets | 21/28 | €179,767 | €208,161 | +€28,394 | +15.8% |
| Intangible fixed assets | 21 | €70,967 | €55,637 | -€15,330 | -21.6% |
| Tangible fixed assets | 22/27 | €88,969 | €132,693 | +€43,724 | +49.1% |
| Plant, machinery and equipment | 23 | €60,342 | €105,958 | +€45,616 | +75.6% |
| Furniture and vehicles | 24 | €28,627 | €26,735 | -€1,892 | -6.6% |
| Financial fixed assets | 28 | €19,830 | €19,830 | = | 0.0% |
| Current assets | 29/58 | €29,475 | €57,678 | +€28,202 | +95.7% |
| Stocks and contracts in progress | 3 | €14,791 | €22,480 | +€7,689 | +52.0% |
| Stocks | 30/36 | €14,791 | €22,480 | +€7,689 | +52.0% |
| Amounts receivable within one year | 40/41 | €1,416 | €585 | -€831 | -58.7% |
| Trade receivables | 40 | - | €585 | +€585 | |
| Other amounts receivable | 41 | €1,416 | €0 | -€1,416 | -100.0% |
| Cash at bank and in hand | 54/58 | €13,268 | €34,139 | +€20,871 | +157.3% |
| Deferred charges and accrued income | 490/1 | - | €474 | +€474 | |
| Total equity and liabilities | 10/49 | €209,242 | €265,839 | +€56,596 | +27.0% |
| Equity | 10/15 | -€25,811 | -€7,997 | +€17,814 | +69.0% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€31,811 | -€13,997 | +€17,814 | +56.0% |
| Amounts payable | 17/49 | €235,053 | €273,835 | +€38,782 | +16.5% |
| Amounts payable after more than one year | 17 | €114,541 | €102,471 | -€12,070 | -10.5% |
| Financial debts | 170/4 | €114,541 | €102,471 | -€12,070 | -10.5% |
| Amounts payable within one year | 42/48 | €119,696 | €170,048 | +€50,351 | +42.1% |
| Current portion of amounts payable after more than one year | 42 | €15,459 | €15,518 | +€58 | +0.4% |
| Trade debts | 44 | €17,362 | €44,934 | +€27,572 | +158.8% |
| Suppliers | 440/4 | €17,362 | €44,934 | +€27,572 | +158.8% |
| Taxes, remuneration and social security | 45 | €12,501 | €29,754 | +€17,253 | +138.0% |
| Taxes | 450/3 | - | €14,403 | +€14,403 | |
| Remuneration and social security | 454/9 | €12,501 | €15,350 | +€2,849 | +22.8% |
| Other amounts payable | 47/48 | €74,374 | €79,842 | +€5,468 | +7.4% |
| Accrued charges and deferred income | 492/3 | €816 | €1,317 | +€501 | +61.5% |
| Remuneration, social security and pensions | 62 | €56,465 | €265,469 | +€209,004 | +370.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,636 | €33,231 | +€23,595 | +244.9% |
| Other operating charges | 640/8 | €336 | €2,939 | +€2,603 | +774.8% |
| Gross operating margin | 9900 | €39,588 | €351,697 | +€312,110 | +788.4% |
| Operating profit (loss) | 9901 | -€26,850 | €50,059 | +€76,909 | |
| Financial charges | 65/66B | €4,961 | €32,244 | +€27,284 | +550.0% |
| Recurring financial charges | 65 | €4,961 | €32,244 | +€27,284 | +550.0% |
| Profit (loss) for the period before taxes | 9903 | -€31,811 | €17,814 | +€49,625 | |
| Profit (loss) for the period | 9904 | -€31,811 | €17,814 | +€49,625 | |
| Profit (loss) for the period to be appropriated | 9905 | -€31,811 | €17,814 | +€49,625 |
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 3 October 2026 via checked.be.