VAMODIS: 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.
VAMODIS
Largest movements
- Financial fixed assets +€612,309
up €612,309 (+306,154%), from €200 to €612,509
- Current investments -€400,000
down €400,000 (-100%), from €400,000 to €0
- Cash -€218,425
down €218,425 (-32.9%), from €664,009 to €445,584
mainly Investment in fixed assets (net) (-€734,593) and Contributions, distributions and other (-€350,000)
- Tangible fixed assets -€200,174
down €200,174 (-9.3%), from €2.2m to €2.0m
of which Other tangible fixed assets: -€156,655
- Profit (loss) carried forward +€1.4m
up €1.4m (+231%), from €589,092 to €1.9m
- Reserves -€1.3m
down €1.3m (-91.4%), from €1.4m to €122,465
of which Distributable reserves: -€1.3m
- Tax, wage and social debts -€225,153
down €225,153 (-49.3%), from €456,616 to €231,463
of which Taxes: -€213,490
- Other debts +€163,108
up €163,108 (+85.0%), from €191,820 to €354,928
- Trade debts -€88,559
down €88,559 (-6.7%), from €1.3m to €1.2m
- Taxes -€71,022
down €71,022 (-33.2%), from €213,641 to €142,618
- Gross operating margin -€59,031
down €59,031 (-2.5%), from €2.3m to €2.3m
- Staff costs +€46,566
up €46,566 (+3.7%), from €1.3m to €1.3m
- Depreciation +€27,239
up €27,239 (+9.2%), from €295,219 to €322,458
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 | €4,221,466 | €4,041,789 | -€179,676 | -4.3% |
| Fixed assets | 21/28 | €2,158,128 | €2,570,264 | +€412,135 | +19.1% |
| Tangible fixed assets | 22/27 | €2,157,928 | €1,957,755 | -€200,174 | -9.3% |
| Plant, machinery and equipment | 23 | €683,839 | €558,771 | -€125,068 | -18.3% |
| Furniture and vehicles | 24 | €32,388 | €113,937 | +€81,549 | +252% |
| Other tangible fixed assets | 26 | €1,441,701 | €1,285,046 | -€156,655 | -10.9% |
| Financial fixed assets | 28 | €200 | €612,509 | +€612,309 | +306,154% |
| Current assets | 29/58 | €2,063,337 | €1,471,526 | -€591,812 | -28.7% |
| Stocks and contracts in progress | 3 | €774,974 | €800,051 | +€25,077 | +3.2% |
| Stocks | 30/36 | €774,974 | €800,051 | +€25,077 | +3.2% |
| Amounts receivable within one year | 40/41 | €205,596 | €213,912 | +€8,316 | +4.0% |
| Trade receivables | 40 | €205,596 | €178,134 | -€27,462 | -13.4% |
| Other amounts receivable | 41 | - | €35,778 | +€35,778 | |
| Current investments | 50/53 | €400,000 | €0 | -€400,000 | -100% |
| Cash at bank and in hand | 54/58 | €664,009 | €445,584 | -€218,425 | -32.9% |
| Deferred charges and accrued income | 490/1 | €18,759 | €11,979 | -€6,780 | -36.1% |
| Total equity and liabilities | 10/49 | €4,221,466 | €4,041,789 | -€179,676 | -4.3% |
| Equity | 10/15 | €2,131,556 | €2,195,784 | +€64,228 | +3.0% |
| Contributions | 10/11 | €124,000 | €124,000 | = | 0.0% |
| Capital | 10 | €124,000 | €124,000 | = | 0.0% |
| Issued capital | 100 | €124,000 | €124,000 | = | 0.0% |
| Reserves | 13 | €1,418,465 | €122,465 | -€1.3m | -91.4% |
| Non-distributable reserves | 130/1 | €12,400 | €12,400 | = | 0.0% |
| Legal reserve | 130 | €12,400 | €12,400 | = | 0.0% |
| Tax-exempt reserves | 132 | €110,065 | €110,065 | = | 0.0% |
| Distributable reserves | 133 | €1,296,000 | €0 | -€1.3m | -100% |
| Profit (loss) carried forward | 14 | €589,092 | €1,949,320 | +€1.4m | +231% |
| Amounts payable | 17/49 | €2,089,909 | €1,846,005 | -€243,904 | -11.7% |
| Amounts payable after more than one year | 17 | €24,985 | €9,344 | -€15,641 | -62.6% |
| Financial debts | 170/4 | €24,985 | €9,344 | -€15,641 | -62.6% |
| Amounts payable within one year | 42/48 | €2,064,924 | €1,836,661 | -€228,264 | -11.1% |
| Current portion of amounts payable after more than one year | 42 | €93,301 | €15,641 | -€77,660 | -83.2% |
| Trade debts | 44 | €1,323,188 | €1,234,629 | -€88,559 | -6.7% |
| Suppliers | 440/4 | €1,323,188 | €1,234,629 | -€88,559 | -6.7% |
| Taxes, remuneration and social security | 45 | €456,616 | €231,463 | -€225,153 | -49.3% |
| Taxes | 450/3 | €260,428 | €46,937 | -€213,490 | -82.0% |
| Remuneration and social security | 454/9 | €196,189 | €184,526 | -€11,663 | -5.9% |
| Other amounts payable | 47/48 | €191,820 | €354,928 | +€163,108 | +85.0% |
| Non-recurring operating income | 76A | €1,740 | €0 | -€1,740 | -100% |
| Remuneration, social security and pensions | 62 | €1,266,657 | €1,313,223 | +€46,566 | +3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €295,219 | €322,458 | +€27,239 | +9.2% |
| Other operating charges | 640/8 | €91,961 | €73,345 | -€18,616 | -20.2% |
| Non-recurring operating charges | 66A | €1,577 | €0 | -€1,577 | -100% |
| Gross operating margin | 9900 | €2,332,260 | €2,273,229 | -€59,031 | -2.5% |
| Operating profit (loss) | 9901 | €676,846 | €564,203 | -€112,643 | -16.6% |
| Financial income | 75/76B | €9,056 | €5,215 | -€3,841 | -42.4% |
| Recurring financial income | 75 | €9,056 | €5,215 | -€3,841 | -42.4% |
| Financial charges | 65/66B | €18,058 | €12,572 | -€5,487 | -30.4% |
| Recurring financial charges | 65 | €18,058 | €12,572 | -€5,487 | -30.4% |
| Profit (loss) for the period before taxes | 9903 | €667,844 | €556,846 | -€110,997 | -16.6% |
| Income taxes | 67/77 | €213,641 | €142,618 | -€71,022 | -33.2% |
| Profit (loss) for the period | 9904 | €454,203 | €414,228 | -€39,975 | -8.8% |
| Profit (loss) for the period to be appropriated | 9905 | €454,203 | €414,228 | -€39,975 | -8.8% |
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 17 October 2026 via checked.be.