VAMOT: 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.
VAMOT
Largest movements
- Cash +€25,948
up €25,948 (+11.3%), from €230,306 to €256,254
mainly Other debts (+€58,581) and Depreciation (+€19,864)
- Tangible fixed assets -€11,250
down €11,250 (-1.9%), from €598,406 to €587,156
- Other debts +€58,581
up €58,581 (+21.1%), from €277,827 to €336,408
- Reserves -€27,254
down €27,254 (-22.1%), from €123,393 to €96,139
of which Distributable reserves: -€27,254
- Accrued charges and deferred income -€20,591
no longer reported in 2026 (was €20,591)
- Gross operating margin -€4,664
down €4,664 (-6.2%), from €74,673 to €70,008
- Financial income -€2,803
down €2,803 (-46.4%), from €6,036 to €3,233
- Financial charges -€2,160
down €2,160 (-10.2%), from €21,185 to €19,025
- Taxes -€1,354
down €1,354 (-16.7%), from €8,128 to €6,774
- Depreciation -€855
down €855 (-4.1%), from €20,720 to €19,864
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €832,087 | €848,007 | +€15,921 | +1.9% |
| Fixed assets | 21/28 | €598,406 | €587,156 | -€11,250 | -1.9% |
| Tangible fixed assets | 22/27 | €598,406 | €587,156 | -€11,250 | -1.9% |
| Land and buildings | 22 | €598,406 | €587,156 | -€11,250 | -1.9% |
| Current assets | 29/58 | €233,680 | €260,851 | +€27,171 | +11.6% |
| Amounts receivable within one year | 40/41 | €683 | €1,189 | +€506 | +74.2% |
| Other amounts receivable | 41 | €683 | €1,189 | +€506 | +74.2% |
| Cash at bank and in hand | 54/58 | €230,306 | €256,254 | +€25,948 | +11.3% |
| Deferred charges and accrued income | 490/1 | €2,692 | €3,409 | +€717 | +26.6% |
| Total equity and liabilities | 10/49 | €832,087 | €848,007 | +€15,921 | +1.9% |
| Equity | 10/15 | €533,161 | €505,907 | -€27,254 | -5.1% |
| Contributions | 10/11 | €409,768 | €409,768 | = | 0.0% |
| Capital | 10 | €409,768 | €409,768 | = | 0.0% |
| Issued capital | 100 | €409,768 | €409,768 | = | 0.0% |
| Reserves | 13 | €123,393 | €96,139 | -€27,254 | -22.1% |
| Non-distributable reserves | 130/1 | €40,977 | €40,977 | = | 0.0% |
| Legal reserve | 130 | €40,977 | €40,977 | = | 0.0% |
| Distributable reserves | 133 | €82,416 | €55,162 | -€27,254 | -33.1% |
| Amounts payable | 17/49 | €298,926 | €342,101 | +€43,175 | +14.4% |
| Amounts payable within one year | 42/48 | €278,335 | €342,101 | +€63,766 | +22.9% |
| Trade debts | 44 | €508 | - | -€508 | |
| Suppliers | 440/4 | €508 | - | -€508 | |
| Taxes, remuneration and social security | 45 | - | €5,693 | +€5,693 | |
| Taxes | 450/3 | - | €5,693 | +€5,693 | |
| Other amounts payable | 47/48 | €277,827 | €336,408 | +€58,581 | +21.1% |
| Accrued charges and deferred income | 492/3 | €20,591 | - | -€20,591 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,720 | €19,864 | -€855 | -4.1% |
| Other operating charges | 640/8 | €13,501 | €13,322 | -€179 | -1.3% |
| Gross operating margin | 9900 | €74,673 | €70,008 | -€4,664 | -6.2% |
| Operating profit (loss) | 9901 | €40,452 | €36,822 | -€3,631 | -9.0% |
| Financial income | 75/76B | €6,036 | €3,233 | -€2,803 | -46.4% |
| Recurring financial income | 75 | €6,036 | €3,233 | -€2,803 | -46.4% |
| Financial charges | 65/66B | €21,185 | €19,025 | -€2,160 | -10.2% |
| Recurring financial charges | 65 | €21,185 | €19,025 | -€2,160 | -10.2% |
| Profit (loss) for the period before taxes | 9903 | €25,303 | €21,030 | -€4,274 | -16.9% |
| Income taxes | 67/77 | €8,128 | €6,774 | -€1,354 | -16.7% |
| Profit (loss) for the period | 9904 | €17,176 | €14,256 | -€2,920 | -17.0% |
| Profit (loss) for the period to be appropriated | 9905 | €17,176 | €14,256 | -€2,920 | -17.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.