VAMOVAR: 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.
What changed
VAMOVAR
NACE 01.461, Pig breeding farms
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€343,471
2024 · €591,551-€248,079
Equity
€2.0m
2024 · €1.6m+€343,471
Cash
€853,544
2024 · €707,367+€146,178
Balance sheet total
€6.2m
2024 · €6.3m-€85,878
Largest movements
Assets
- Current investments -€250,000
down €250,000 (-100%), from €250,000 to €0
- Receivables within one year -€188,261
down €188,261 (-46.3%), from €406,251 to €217,989
of which Trade receivables: -€152,544
- Cash +€146,178
up €146,178 (+20.7%), from €707,367 to €853,544
mainly Depreciation (+€445,297) and Net result for the year (+€343,471)
- Stocks and contracts +€133,663
up €133,663 (+12.7%), from €1.1m to €1.2m
- Deferred charges and accrued income +€129,381
up €129,381 (+1,129%), from €11,464 to €140,845
Equity and liabilities
- Reserves +€343,471
up €343,471 (+25.8%), from €1.3m to €1.7m
of which Distributable reserves: +€301,903
- Debts after one year -€335,093
down €335,093 (-9.1%), from €3.7m to €3.4m
Income statement
- Gross operating margin -€336,143
down €336,143 (-23.7%), from €1.4m to €1.1m
- Taxes -€135,188
down €135,188 (-52.1%), from €259,345 to €124,157
- Depreciation +€39,265
up €39,265 (+9.7%), from €406,033 to €445,297
- Financial charges +€21,958
up €21,958 (+24.8%), from €88,679 to €110,638
- Other operating charges -€15,570
down €15,570 (-34.7%), from €44,866 to €29,296
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
€591,551
Gross operating margin
-€336,143
Staff costs
+€2,286
Depreciation
-€39,265
Other operating charges
+€15,570
Other operating items
-€3,000
Financial income
+€3,885
Financial charges
-€21,958
Taxes
+€135,188
Deferred taxes and other
-€4,643
Result 2025
€343,471
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€669,730
Investment
-€138,460
Financing
-€385,093
Cash 2024
€707,367
From operations (derived)
+€669,730
Net result for the year
+€343,471
Depreciation
+€445,297
Stocks and contracts
-€133,663
Receivables within one year
+€188,261
Deferred charges and accrued income
-€129,381
Provisions
+€10,392
Trade debts
-€47,969
Tax, wage and social debts
-€4,746
Other debts
-€13,234
Accrued charges and deferred income
+€11,300
Investment (derived)
-€138,460
Investment in fixed assets (net)
-€388,460
Current investments
+€250,000
Financing
-€385,093
Debts after one year
-€335,093
Current portion of long-term debt
-€50,000
Cash 2025
€853,544
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,314,412 | €6,228,535 | -€85,878 | -1.4% |
| Fixed assets | 21/28 | €3,889,107 | €3,832,269 | -€56,838 | -1.5% |
| Intangible fixed assets | 21 | €12,090 | €16,342 | +€4,253 | +35.2% |
| Tangible fixed assets | 22/27 | €3,877,017 | €3,815,927 | -€61,090 | -1.6% |
| Land and buildings | 22 | €3,682,293 | €3,398,800 | -€283,493 | -7.7% |
| Plant, machinery and equipment | 23 | €103,525 | €204,492 | +€100,968 | +97.5% |
| Furniture and vehicles | 24 | €91,200 | €212,634 | +€121,435 | +133% |
| Current assets | 29/58 | €2,425,305 | €2,396,265 | -€29,040 | -1.2% |
| Stocks and contracts in progress | 3 | €1,050,224 | €1,183,887 | +€133,663 | +12.7% |
| Stocks | 30/36 | €1,050,224 | €1,183,887 | +€133,663 | +12.7% |
| Amounts receivable within one year | 40/41 | €406,251 | €217,989 | -€188,261 | -46.3% |
| Trade receivables | 40 | €212,491 | €59,947 | -€152,544 | -71.8% |
| Other amounts receivable | 41 | €193,759 | €158,042 | -€35,717 | -18.4% |
| Current investments | 50/53 | €250,000 | €0 | -€250,000 | -100% |
| Cash at bank and in hand | 54/58 | €707,367 | €853,544 | +€146,178 | +20.7% |
| Deferred charges and accrued income | 490/1 | €11,464 | €140,845 | +€129,381 | +1,129% |
| Total equity and liabilities | 10/49 | €6,314,412 | €6,228,535 | -€85,878 | -1.4% |
| Equity | 10/15 | €1,632,855 | €1,976,326 | +€343,471 | +21.0% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €1,332,855 | €1,676,326 | +€343,471 | +25.8% |
| Tax-exempt reserves | 132 | €22,997 | €64,565 | +€41,568 | +181% |
| Distributable reserves | 133 | €1,309,858 | €1,611,761 | +€301,903 | +23.0% |
| Provisions and deferred taxes | 16 | €5,749 | €16,141 | +€10,392 | +181% |
| Deferred taxes | 168 | €5,749 | €16,141 | +€10,392 | +181% |
| Amounts payable | 17/49 | €4,675,808 | €4,236,067 | -€439,741 | -9.4% |
| Amounts payable after more than one year | 17 | €3,696,751 | €3,361,658 | -€335,093 | -9.1% |
| Financial debts | 170/4 | €3,696,751 | €3,361,658 | -€335,093 | -9.1% |
| Amounts payable within one year | 42/48 | €962,060 | €846,111 | -€115,949 | -12.1% |
| Current portion of amounts payable after more than one year | 42 | €385,093 | €335,093 | -€50,000 | -13.0% |
| Trade debts | 44 | €154,013 | €106,044 | -€47,969 | -31.1% |
| Suppliers | 440/4 | €154,013 | €106,044 | -€47,969 | -31.1% |
| Taxes, remuneration and social security | 45 | €16,593 | €11,847 | -€4,746 | -28.6% |
| Taxes | 450/3 | €14,738 | €9,367 | -€5,371 | -36.4% |
| Remuneration and social security | 454/9 | €1,855 | €2,480 | +€626 | +33.7% |
| Other amounts payable | 47/48 | €406,361 | €393,127 | -€13,234 | -3.3% |
| Accrued charges and deferred income | 492/3 | €16,997 | €28,298 | +€11,300 | +66.5% |
| Non-recurring operating income | 76A | €30,000 | €64,000 | +€34,000 | +113% |
| Remuneration, social security and pensions | 62 | €34,595 | €32,309 | -€2,286 | -6.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €406,033 | €445,297 | +€39,265 | +9.7% |
| Other operating charges | 640/8 | €44,866 | €29,296 | -€15,570 | -34.7% |
| Non-recurring operating charges | 66A | €0 | €3,000 | +€3,000 | |
| Gross operating margin | 9900 | €1,419,561 | €1,083,418 | -€336,143 | -23.7% |
| Operating profit (loss) | 9901 | €934,067 | €573,515 | -€360,552 | -38.6% |
| Financial income | 75/76B | €11,258 | €15,143 | +€3,885 | +34.5% |
| Recurring financial income | 75 | €11,258 | €15,143 | +€3,885 | +34.5% |
| Financial charges | 65/66B | €88,679 | €110,638 | +€21,958 | +24.8% |
| Recurring financial charges | 65 | €88,679 | €110,638 | +€21,958 | +24.8% |
| Profit (loss) for the period before taxes | 9903 | €856,645 | €478,020 | -€378,625 | -44.2% |
| Transfer from deferred taxes | 780 | €251 | €2,408 | +€2,157 | +861% |
| Transfer to deferred taxes | 680 | €6,000 | €12,800 | +€6,800 | +113% |
| Income taxes | 67/77 | €259,345 | €124,157 | -€135,188 | -52.1% |
| Profit (loss) for the period | 9904 | €591,551 | €343,471 | -€248,079 | -41.9% |
| Transfer from tax-exempt reserves | 789 | €1,003 | €9,632 | +€8,629 | +861% |
| Transfer to tax-exempt reserves | 689 | €24,000 | €51,200 | +€27,200 | +113% |
| Profit (loss) for the period to be appropriated | 9905 | €568,553 | €301,903 | -€266,650 | -46.9% |
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 18 October 2026 via checked.be.