VAMUTEC: 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.
VAMUTEC
Largest movements
- Receivables within one year +€93,354
up €93,354 (+31.4%), from €296,963 to €390,317
of which Trade receivables: +€114,860
- Tangible fixed assets +€46,749
up €46,749 (+487.1%), from €9,597 to €56,346
of which Furniture and vehicles: +€34,558
- Cash -€33,446
down €33,446 (-46.2%), from €72,351 to €38,905
mainly Receivables within one year (-€93,354) and Investment in fixed assets (net) (-€62,758)
- Reserves +€70,493
up €70,493 (+25.8%), from €272,928 to €343,421
- Debts after one year +€33,207
new in 2025: €33,207
- Trade debts -€9,965
down €9,965 (-48.9%), from €20,361 to €10,397
- Current portion of long-term debt +€8,468
up €8,468 (+926.6%), from €914 to €9,381
- Other debts +€6,113
up €6,113 (+10.9%), from €55,857 to €61,970
- Gross operating margin +€14,043
up €14,043 (+13.8%), from €101,500 to €115,544
- Depreciation +€7,878
up €7,878 (+96.9%), from €8,131 to €16,009
- Other operating charges +€1,727
up €1,727 (+147.9%), from €1,168 to €2,894
- Staff costs -€1,415
no longer reported in 2025 (was €1,415)
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 | €387,897 | €495,203 | +€107,306 | +27.7% |
| Fixed assets | 21/28 | €9,597 | €56,346 | +€46,749 | +487.1% |
| Tangible fixed assets | 22/27 | €9,597 | €56,346 | +€46,749 | +487.1% |
| Plant, machinery and equipment | 23 | €2,017 | €4,139 | +€2,122 | +105.2% |
| Furniture and vehicles | 24 | €6,761 | €41,318 | +€34,558 | +511.1% |
| Other tangible fixed assets | 26 | €819 | €10,889 | +€10,070 | +1229.5% |
| Current assets | 29/58 | €378,300 | €438,857 | +€60,557 | +16.0% |
| Stocks and contracts in progress | 3 | €8,985 | €9,635 | +€650 | +7.2% |
| Stocks | 30/36 | €8,985 | €9,635 | +€650 | +7.2% |
| Amounts receivable within one year | 40/41 | €296,963 | €390,317 | +€93,354 | +31.4% |
| Trade receivables | 40 | €264,089 | €378,949 | +€114,860 | +43.5% |
| Other amounts receivable | 41 | €32,874 | €11,368 | -€21,506 | -65.4% |
| Cash at bank and in hand | 54/58 | €72,351 | €38,905 | -€33,446 | -46.2% |
| Total equity and liabilities | 10/49 | €387,897 | €495,203 | +€107,306 | +27.7% |
| Equity | 10/15 | €291,528 | €362,021 | +€70,493 | +24.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €272,928 | €343,421 | +€70,493 | +25.8% |
| Distributable reserves | 133 | €272,928 | €343,421 | +€70,493 | +25.8% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €96,369 | €133,182 | +€36,813 | +38.2% |
| Amounts payable after more than one year | 17 | - | €33,207 | +€33,207 | |
| Financial debts | 170/4 | - | €33,207 | +€33,207 | |
| Amounts payable within one year | 42/48 | €88,082 | €87,688 | -€394 | -0.4% |
| Current portion of amounts payable after more than one year | 42 | €914 | €9,381 | +€8,468 | +926.6% |
| Trade debts | 44 | €20,361 | €10,397 | -€9,965 | -48.9% |
| Suppliers | 440/4 | €20,361 | €10,397 | -€9,965 | -48.9% |
| Taxes, remuneration and social security | 45 | €10,950 | €5,940 | -€5,009 | -45.7% |
| Taxes | 450/3 | €10,815 | €5,806 | -€5,009 | -46.3% |
| Remuneration and social security | 454/9 | €134 | €134 | = | 0.0% |
| Other amounts payable | 47/48 | €55,857 | €61,970 | +€6,113 | +10.9% |
| Accrued charges and deferred income | 492/3 | €8,288 | €12,288 | +€4,000 | +48.3% |
| Remuneration, social security and pensions | 62 | €1,415 | - | -€1,415 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,131 | €16,009 | +€7,878 | +96.9% |
| Other operating charges | 640/8 | €1,168 | €2,894 | +€1,727 | +147.9% |
| Gross operating margin | 9900 | €101,500 | €115,544 | +€14,043 | +13.8% |
| Operating profit (loss) | 9901 | €90,787 | €96,640 | +€5,854 | +6.4% |
| Financial income | 75/76B | €646 | €641 | -€5 | -0.7% |
| Recurring financial income | 75 | €646 | €641 | -€5 | -0.7% |
| Financial charges | 65/66B | €5,030 | €4,766 | -€263 | -5.2% |
| Recurring financial charges | 65 | €5,030 | €4,766 | -€263 | -5.2% |
| Profit (loss) for the period before taxes | 9903 | €86,403 | €92,515 | +€6,112 | +7.1% |
| Income taxes | 67/77 | €21,093 | €22,022 | +€929 | +4.4% |
| Profit (loss) for the period | 9904 | €65,310 | €70,493 | +€5,183 | +7.9% |
| Profit (loss) for the period to be appropriated | 9905 | €65,310 | €70,493 | +€5,183 | +7.9% |
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 12 October 2026 via checked.be.