VAMOS: 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.
VAMOS
Largest movements
- Current investments -€77,007
down €77,007 (-25.2%), from €305,381 to €228,374
- Cash -€55,118
down €55,118 (-34.4%), from €160,027 to €104,909
mainly Contributions, distributions and other (-€159,284) and Investment in fixed assets (net) (-€37,004)
- Reserves -€71,686
down €71,686 (-25.1%), from €285,276 to €213,590
of which Distributable reserves: -€71,686
- Other debts -€34,771
down €34,771 (-39.8%), from €87,447 to €52,676
- Debts after one year -€17,667
down €17,667 (-50.0%), from €35,332 to €17,665
- Tax, wage and social debts -€9,494
down €9,494 (-18.8%), from €50,415 to €40,921
of which Taxes: -€11,243
- Financial income +€49,285
up €49,285 (+492.5%), from €10,007 to €59,292
- Gross operating margin -€27,549
down €27,549 (-15.9%), from €173,702 to €146,153
- Taxes +€4,641
up €4,641 (+13.1%), from €35,482 to €40,123
- Depreciation +€2,618
up €2,618 (+7.6%), from €34,527 to €37,146
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 | €745,498 | €610,775 | -€134,723 | -18.1% |
| Fixed assets | 21/28 | €209,397 | €209,256 | -€142 | -0.1% |
| Tangible fixed assets | 22/27 | €209,397 | €209,256 | -€142 | -0.1% |
| Land and buildings | 22 | €81,928 | €70,224 | -€11,704 | -14.3% |
| Plant, machinery and equipment | 23 | €9,368 | €18,483 | +€9,115 | +97.3% |
| Furniture and vehicles | 24 | €4,674 | €24,309 | +€19,635 | +420.1% |
| Other tangible fixed assets | 26 | €113,427 | €96,239 | -€17,187 | -15.2% |
| Current assets | 29/58 | €536,101 | €401,520 | -€134,581 | -25.1% |
| Amounts receivable after more than one year | 29 | €43,210 | €43,215 | +€5 | 0.0% |
| Other amounts receivable | 291 | €43,210 | €43,215 | +€5 | 0.0% |
| Stocks and contracts in progress | 3 | €5,709 | €4,301 | -€1,408 | -24.7% |
| Stocks | 30/36 | €5,709 | €4,301 | -€1,408 | -24.7% |
| Amounts receivable within one year | 40/41 | €18,772 | €19,253 | +€481 | +2.6% |
| Trade receivables | 40 | €18,752 | €19,237 | +€485 | +2.6% |
| Other amounts receivable | 41 | €20 | €16 | -€4 | -18.0% |
| Current investments | 50/53 | €305,381 | €228,374 | -€77,007 | -25.2% |
| Cash at bank and in hand | 54/58 | €160,027 | €104,909 | -€55,118 | -34.4% |
| Deferred charges and accrued income | 490/1 | €3,002 | €1,467 | -€1,535 | -51.1% |
| Total equity and liabilities | 10/49 | €745,498 | €610,775 | -€134,723 | -18.1% |
| Equity | 10/15 | €518,377 | €446,691 | -€71,686 | -13.8% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €285,276 | €213,590 | -€71,686 | -25.1% |
| Tax-exempt reserves | 132 | €120 | €120 | = | 0.0% |
| Distributable reserves | 133 | €285,155 | €213,470 | -€71,686 | -25.1% |
| Profit (loss) carried forward | 14 | €212,641 | €212,641 | = | 0.0% |
| Amounts payable | 17/49 | €227,122 | €164,084 | -€63,037 | -27.8% |
| Amounts payable after more than one year | 17 | €35,332 | €17,665 | -€17,667 | -50.0% |
| Financial debts | 170/4 | €35,332 | €17,665 | -€17,667 | -50.0% |
| Amounts payable within one year | 42/48 | €191,790 | €144,596 | -€47,194 | -24.6% |
| Current portion of amounts payable after more than one year | 42 | €17,667 | €17,667 | = | 0.0% |
| Financial debts | 43 | €866 | €1,750 | +€884 | +102.0% |
| Credit institutions | 430/8 | €866 | - | -€866 | |
| Other loans | 439 | - | €1,750 | +€1,750 | |
| Trade debts | 44 | €35,394 | €31,582 | -€3,812 | -10.8% |
| Suppliers | 440/4 | €35,394 | €31,582 | -€3,812 | -10.8% |
| Taxes, remuneration and social security | 45 | €50,415 | €40,921 | -€9,494 | -18.8% |
| Taxes | 450/3 | €46,640 | €35,396 | -€11,243 | -24.1% |
| Remuneration and social security | 454/9 | €3,776 | €5,525 | +€1,749 | +46.3% |
| Other amounts payable | 47/48 | €87,447 | €52,676 | -€34,771 | -39.8% |
| Accrued charges and deferred income | 492/3 | - | €1,823 | +€1,823 | |
| Non-recurring operating income | 76A | €4,950 | - | -€4,950 | |
| Remuneration, social security and pensions | 62 | €33,138 | €34,330 | +€1,193 | +3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,527 | €37,146 | +€2,618 | +7.6% |
| Other operating charges | 640/8 | €1,349 | €1,873 | +€524 | +38.9% |
| Gross operating margin | 9900 | €173,702 | €146,153 | -€27,549 | -15.9% |
| Operating profit (loss) | 9901 | €104,687 | €72,803 | -€31,884 | -30.5% |
| Financial income | 75/76B | €10,007 | €59,292 | +€49,285 | +492.5% |
| Recurring financial income | 75 | €10,007 | €59,292 | +€49,285 | +492.5% |
| Financial charges | 65/66B | €5,599 | €4,375 | -€1,224 | -21.9% |
| Recurring financial charges | 65 | €5,599 | €4,375 | -€1,224 | -21.9% |
| Profit (loss) for the period before taxes | 9903 | €109,095 | €127,721 | +€18,625 | +17.1% |
| Income taxes | 67/77 | €35,482 | €40,123 | +€4,641 | +13.1% |
| Profit (loss) for the period | 9904 | €73,614 | €87,598 | +€13,984 | +19.0% |
| Profit (loss) for the period to be appropriated | 9905 | €73,614 | €87,598 | +€13,984 | +19.0% |
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 29 September 2026 via checked.be.