Vamas 2.0: 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.
Vamas 2.0
Largest movements
- Intangible fixed assets +€111,050
new in 2025: €111,050
- Cash -€67,638
down €67,638 (-85.3%), from €79,263 to €11,625
mainly Investment in fixed assets (net) (-€111,050) and Accrued charges and deferred income (-€41,517)
- Current investments -€46,953
down €46,953 (-52.2%), from €90,000 to €43,047
- Deferred charges and accrued income -€18,768
down €18,768 (-74.2%), from €25,293 to €6,525
- Receivables within one year -€12,943
down €12,943 (-41.0%), from €31,540 to €18,597
of which Trade receivables: -€27,772
- Accrued charges and deferred income -€41,517
down €41,517 (-96.2%), from €43,155 to €1,637
- Reserves -€33,277
down €33,277 (-21.4%), from €155,506 to €122,230
- Other debts +€30,082
up €30,082 (+1,136%), from €2,648 to €32,730
- Trade debts +€7,636
up €7,636 (+84.0%), from €9,087 to €16,723
- Gross operating margin -€109,465
down €109,465 (-96.3%), from €113,719 to €4,254
- Other operating charges -€20,732
down €20,732 (-97.3%), from €21,297 to €566
- Taxes -€17,571
down €17,571 (-93.1%), from €18,869 to €1,297
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.
Derived cash bridge
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 | €231,574 | €194,455 | -€37,120 | -16.0% |
| Fixed assets | 21/28 | €5,478 | €114,662 | +€109,184 | +1,993% |
| Intangible fixed assets | 21 | - | €111,050 | +€111,050 | |
| Tangible fixed assets | 22/27 | €5,478 | €3,612 | -€1,866 | -34.1% |
| Furniture and vehicles | 24 | €3,660 | €2,194 | -€1,466 | -40.1% |
| Other tangible fixed assets | 26 | €1,817 | €1,417 | -€400 | -22.0% |
| Current assets | 29/58 | €226,096 | €79,793 | -€146,303 | -64.7% |
| Amounts receivable within one year | 40/41 | €31,540 | €18,597 | -€12,943 | -41.0% |
| Trade receivables | 40 | €27,772 | €0 | -€27,772 | -100% |
| Other amounts receivable | 41 | €3,768 | €18,597 | +€14,829 | +394% |
| Current investments | 50/53 | €90,000 | €43,047 | -€46,953 | -52.2% |
| Cash at bank and in hand | 54/58 | €79,263 | €11,625 | -€67,638 | -85.3% |
| Deferred charges and accrued income | 490/1 | €25,293 | €6,525 | -€18,768 | -74.2% |
| Total equity and liabilities | 10/49 | €231,574 | €194,455 | -€37,120 | -16.0% |
| Equity | 10/15 | €174,106 | €140,830 | -€33,277 | -19.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €155,506 | €122,230 | -€33,277 | -21.4% |
| Distributable reserves | 133 | €155,506 | €122,230 | -€33,277 | -21.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €57,468 | €53,625 | -€3,843 | -6.7% |
| Amounts payable within one year | 42/48 | €14,313 | €51,988 | +€37,674 | +263% |
| Trade debts | 44 | €9,087 | €16,723 | +€7,636 | +84.0% |
| Suppliers | 440/4 | €9,087 | €16,723 | +€7,636 | +84.0% |
| Taxes, remuneration and social security | 45 | €2,578 | €2,535 | -€43 | -1.7% |
| Taxes | 450/3 | €2,578 | €2,535 | -€43 | -1.7% |
| Other amounts payable | 47/48 | €2,648 | €32,730 | +€30,082 | +1,136% |
| Accrued charges and deferred income | 492/3 | €43,155 | €1,637 | -€41,517 | -96.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,580 | €1,866 | +€286 | +18.1% |
| Other operating charges | 640/8 | €21,297 | €566 | -€20,732 | -97.3% |
| Gross operating margin | 9900 | €113,719 | €4,254 | -€109,465 | -96.3% |
| Operating profit (loss) | 9901 | €90,841 | €1,822 | -€89,019 | -98.0% |
| Financial income | 75/76B | €1,213 | €1,767 | +€555 | +45.7% |
| Recurring financial income | 75 | €1,213 | €1,767 | +€555 | +45.7% |
| Financial charges | 65/66B | €1,094 | €274 | -€820 | -74.9% |
| Recurring financial charges | 65 | €1,094 | €274 | -€820 | -74.9% |
| Profit (loss) for the period before taxes | 9903 | €90,960 | €3,315 | -€87,645 | -96.4% |
| Income taxes | 67/77 | €18,869 | €1,297 | -€17,571 | -93.1% |
| Profit (loss) for the period | 9904 | €72,091 | €2,018 | -€70,074 | -97.2% |
| Profit (loss) for the period to be appropriated | 9905 | €72,091 | €2,018 | -€70,074 | -97.2% |
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 28 October 2026 via checked.be.