VAMERO: 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.
What changed
VAMERO
NACE 01.462, Crop and animal production, hunting and related service activities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€160,416
2024 · €63,792+€96,624
Equity
€99,859
2024 · -€94,341+€194,200
Cash
€83,933
2024 · €69,072+€14,862
Balance sheet total
€1.5m
2024 · €1.2m+€323,841
Largest movements
Assets
- Tangible fixed assets +€271,538
up €271,538 (+33.1%), from €821,360 to €1.1m
of which Land and buildings: +€245,450
- Receivables within one year +€126,379
up €126,379 (+446.0%), from €28,339 to €154,718
of which Trade receivables: +€128,833
- Stocks and contracts -€80,250
down €80,250 (-28.1%), from €285,260 to €205,010
Equity and liabilities
- Profit (loss) carried forward +€160,416
up €160,416 (+18.7%), from -€856,841 to -€696,425
- Debts after one year +€93,997
up €93,997 (+15.3%), from €615,384 to €709,382
- Investment grants +€33,784
new in 2025: €33,784
- Current portion of long-term debt +€27,857
up €27,857 (+45.3%), from €61,539 to €89,396
Income statement
- Gross operating margin +€103,069
up €103,069 (+61.9%), from €166,574 to €269,643
- Depreciation +€7,874
up €7,874 (+17.6%), from €44,675 to €52,549
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.
Result 2024
€63,792
Gross operating margin
+€103,069
Depreciation
-€7,874
Other operating charges
-€9
Financial income
-€22
Financial charges
+€1,908
Taxes
-€449
Result 2025
€160,416
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.
From operations
+€183,311
Investment
-€324,088
Financing
+€155,639
Cash 2024
€69,072
From operations (derived)
+€183,311
Net result for the year
+€160,416
Depreciation
+€52,549
Stocks and contracts
+€80,250
Receivables within one year
-€126,379
Deferred charges and accrued income
+€8,688
Trade debts
+€6,187
Tax, wage and social debts
-€10,381
Other debts
+€14,381
Accrued charges and deferred income
-€2,400
Investment (derived)
-€324,088
Investment in fixed assets (net)
-€324,088
Financing
+€155,639
Debts after one year
+€93,997
Current portion of long-term debt
+€27,857
Contributions, distributions and other
+€33,784
Cash 2025
€83,933
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,222,418 | €1,546,259 | +€323,841 | +26.5% |
| Fixed assets | 21/28 | €830,747 | €1,102,286 | +€271,538 | +32.7% |
| Tangible fixed assets | 22/27 | €821,360 | €1,092,898 | +€271,538 | +33.1% |
| Land and buildings | 22 | €736,638 | €982,088 | +€245,450 | +33.3% |
| Plant, machinery and equipment | 23 | €82,451 | €108,801 | +€26,351 | +32.0% |
| Furniture and vehicles | 24 | €2,270 | €2,008 | -€262 | -11.5% |
| Financial fixed assets | 28 | €9,388 | €9,388 | = | 0.0% |
| Current assets | 29/58 | €391,671 | €443,974 | +€52,303 | +13.4% |
| Stocks and contracts in progress | 3 | €285,260 | €205,010 | -€80,250 | -28.1% |
| Stocks | 30/36 | €285,260 | €205,010 | -€80,250 | -28.1% |
| Amounts receivable within one year | 40/41 | €28,339 | €154,718 | +€126,379 | +446.0% |
| Trade receivables | 40 | €24,717 | €153,550 | +€128,833 | +521.2% |
| Other amounts receivable | 41 | €3,622 | €1,168 | -€2,454 | -67.7% |
| Cash at bank and in hand | 54/58 | €69,072 | €83,933 | +€14,862 | +21.5% |
| Deferred charges and accrued income | 490/1 | €9,000 | €312 | -€8,688 | -96.5% |
| Total equity and liabilities | 10/49 | €1,222,418 | €1,546,259 | +€323,841 | +26.5% |
| Equity | 10/15 | -€94,341 | €99,859 | +€194,200 | |
| Contributions | 10/11 | €750,000 | €750,000 | = | 0.0% |
| Capital | 10 | €750,000 | €750,000 | = | 0.0% |
| Issued capital | 100 | €750,000 | €750,000 | = | 0.0% |
| Reserves | 13 | €12,500 | €12,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,500 | €12,500 | = | 0.0% |
| Legal reserve | 130 | €12,500 | €12,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€856,841 | -€696,425 | +€160,416 | +18.7% |
| Investment grants | 15 | - | €33,784 | +€33,784 | |
| Amounts payable | 17/49 | €1,316,759 | €1,446,400 | +€129,641 | +9.8% |
| Amounts payable after more than one year | 17 | €615,384 | €709,382 | +€93,997 | +15.3% |
| Financial debts | 170/4 | €615,384 | €709,382 | +€93,997 | +15.3% |
| Amounts payable within one year | 42/48 | €698,974 | €737,019 | +€38,044 | +5.4% |
| Current portion of amounts payable after more than one year | 42 | €61,539 | €89,396 | +€27,857 | +45.3% |
| Trade debts | 44 | €100,575 | €106,761 | +€6,187 | +6.2% |
| Suppliers | 440/4 | €100,575 | €106,761 | +€6,187 | +6.2% |
| Taxes, remuneration and social security | 45 | €25,718 | €15,337 | -€10,381 | -40.4% |
| Taxes | 450/3 | €25,718 | €15,337 | -€10,381 | -40.4% |
| Other amounts payable | 47/48 | €511,144 | €525,525 | +€14,381 | +2.8% |
| Accrued charges and deferred income | 492/3 | €2,400 | - | -€2,400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,675 | €52,549 | +€7,874 | +17.6% |
| Other operating charges | 640/8 | €12,430 | €12,440 | +€9 | +0.1% |
| Gross operating margin | 9900 | €166,574 | €269,643 | +€103,069 | +61.9% |
| Operating profit (loss) | 9901 | €109,468 | €204,654 | +€95,186 | +87.0% |
| Financial income | 75/76B | €22 | €0 | -€22 | -100.0% |
| Recurring financial income | 75 | €22 | €0 | -€22 | -100.0% |
| Financial charges | 65/66B | €45,698 | €43,790 | -€1,908 | -4.2% |
| Recurring financial charges | 65 | €45,698 | €43,790 | -€1,908 | -4.2% |
| Profit (loss) for the period before taxes | 9903 | €63,792 | €160,864 | +€97,072 | +152.2% |
| Income taxes | 67/77 | - | €449 | +€449 | |
| Profit (loss) for the period | 9904 | €63,792 | €160,416 | +€96,624 | +151.5% |
| Profit (loss) for the period to be appropriated | 9905 | €63,792 | €160,416 | +€96,624 | +151.5% |
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 4 October 2026 via checked.be.