VAMIVA: 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.
VAMIVA
Largest movements
- Tangible fixed assets +€243,762
up €243,762 (+9.8%), from €2.5m to €2.7m
- Cash -€140,621
down €140,621 (-52.2%), from €269,438 to €128,818
mainly Investment in fixed assets (net) (-€515,740) and Net result for the year (-€143,618)
- Receivables within one year -€52,482
down €52,482 (-20.4%), from €257,660 to €205,179
of which Trade receivables: -€36,784
- Stocks and contracts +€45,199
up €45,199 (+31.7%), from €142,561 to €187,760
- Profit (loss) carried forward -€120,908
new in 2025: -€120,908
- Trade debts +€93,705
up €93,705 (+85.8%), from €109,251 to €202,956
- Debts after one year +€63,215
up €63,215 (+5.1%), from €1.2m to €1.3m
- Current portion of long-term debt +€42,596
up €42,596 (+30.4%), from €139,929 to €182,525
- Gross operating margin -€243,361
down €243,361 (-27.0%), from €899,671 to €656,310
- Taxes -€49,415
down €49,415 (-98.3%), from €50,273 to €858
- Depreciation +€48,225
up €48,225 (+21.4%), from €225,054 to €273,278
- Staff costs +€48,148
up €48,148 (+11.5%), from €417,331 to €465,479
- Financial charges +€20,658
up €20,658 (+47.4%), from €43,543 to €64,201
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 | €3,167,130 | €3,254,875 | +€87,745 | +2.8% |
| Fixed assets | 21/28 | €2,490,007 | €2,732,469 | +€242,462 | +9.7% |
| Tangible fixed assets | 22/27 | €2,488,707 | €2,732,469 | +€243,762 | +9.8% |
| Land and buildings | 22 | €1,473,789 | €1,559,307 | +€85,518 | +5.8% |
| Plant, machinery and equipment | 23 | €814,234 | €886,314 | +€72,081 | +8.9% |
| Furniture and vehicles | 24 | €200,684 | €286,848 | +€86,163 | +42.9% |
| Financial fixed assets | 28 | €1,300 | €0 | -€1,300 | -100% |
| Current assets | 29/58 | €677,123 | €522,406 | -€154,717 | -22.8% |
| Stocks and contracts in progress | 3 | €142,561 | €187,760 | +€45,199 | +31.7% |
| Stocks | 30/36 | €142,561 | €187,760 | +€45,199 | +31.7% |
| Amounts receivable within one year | 40/41 | €257,660 | €205,179 | -€52,482 | -20.4% |
| Trade receivables | 40 | €213,996 | €177,212 | -€36,784 | -17.2% |
| Other amounts receivable | 41 | €43,665 | €27,967 | -€15,698 | -36.0% |
| Current investments | 50/53 | €650 | €650 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €269,438 | €128,818 | -€140,621 | -52.2% |
| Deferred charges and accrued income | 490/1 | €6,814 | €0 | -€6,814 | -100% |
| Total equity and liabilities | 10/49 | €3,167,130 | €3,254,875 | +€87,745 | +2.8% |
| Equity | 10/15 | €1,149,626 | €1,027,469 | -€122,156 | -10.6% |
| Contributions | 10/11 | €281,000 | €281,000 | = | 0.0% |
| Reserves | 13 | €750,686 | €727,976 | -€22,710 | -3.0% |
| Non-distributable reserves | 130/1 | €28,100 | €0 | -€28,100 | -100% |
| Reserves not available under the articles | 1311 | €28,100 | €0 | -€28,100 | -100% |
| Distributable reserves | 133 | €722,586 | €727,976 | +€5,390 | +0.7% |
| Profit (loss) carried forward | 14 | - | -€120,908 | -€120,908 | |
| Investment grants | 15 | €117,940 | €139,401 | +€21,462 | +18.2% |
| Provisions and deferred taxes | 16 | €6,207 | €7,337 | +€1,130 | +18.2% |
| Deferred taxes | 168 | €6,207 | €7,337 | +€1,130 | +18.2% |
| Amounts payable | 17/49 | €2,011,296 | €2,220,068 | +€208,772 | +10.4% |
| Amounts payable after more than one year | 17 | €1,236,813 | €1,300,029 | +€63,215 | +5.1% |
| Financial debts | 170/4 | €1,236,813 | €1,300,029 | +€63,215 | +5.1% |
| Amounts payable within one year | 42/48 | €774,324 | €919,260 | +€144,936 | +18.7% |
| Current portion of amounts payable after more than one year | 42 | €139,929 | €182,525 | +€42,596 | +30.4% |
| Financial debts | 43 | €17,654 | €14,583 | -€3,071 | -17.4% |
| Credit institutions | 430/8 | €17,654 | €14,583 | -€3,071 | -17.4% |
| Trade debts | 44 | €109,251 | €202,956 | +€93,705 | +85.8% |
| Suppliers | 440/4 | €109,251 | €202,956 | +€93,705 | +85.8% |
| Taxes, remuneration and social security | 45 | €47,357 | €48,446 | +€1,089 | +2.3% |
| Taxes | 450/3 | €27,198 | €11,731 | -€15,467 | -56.9% |
| Remuneration and social security | 454/9 | €20,160 | €36,716 | +€16,556 | +82.1% |
| Other amounts payable | 47/48 | €460,133 | €470,749 | +€10,616 | +2.3% |
| Accrued charges and deferred income | 492/3 | €158 | €780 | +€621 | +392% |
| Non-recurring operating income | 76A | - | €12,000 | +€12,000 | |
| Remuneration, social security and pensions | 62 | €417,331 | €465,479 | +€48,148 | +11.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €225,054 | €273,278 | +€48,225 | +21.4% |
| Other operating charges | 640/8 | €14,499 | €14,404 | -€95 | -0.7% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €899,671 | €656,310 | -€243,361 | -27.0% |
| Operating profit (loss) | 9901 | €242,788 | -€96,851 | -€339,639 | |
| Financial income | 75/76B | €12,304 | €17,588 | +€5,284 | +42.9% |
| Recurring financial income | 75 | €12,304 | €17,588 | +€5,284 | +42.9% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €43,543 | €64,201 | +€20,658 | +47.4% |
| Recurring financial charges | 65 | €43,543 | €64,201 | +€20,658 | +47.4% |
| Profit (loss) for the period before taxes | 9903 | €211,549 | -€143,463 | -€355,012 | |
| Transfer from deferred taxes | 780 | €407 | €703 | +€296 | +72.8% |
| Income taxes | 67/77 | €50,273 | €858 | -€49,415 | -98.3% |
| Profit (loss) for the period | 9904 | €161,682 | -€143,618 | -€305,300 | |
| Profit (loss) for the period to be appropriated | 9905 | €161,682 | -€143,618 | -€305,300 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.