VAMUTRANS: 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.
VAMUTRANS
Largest movements
- Tangible fixed assets +€61,019
up €61,019 (+22.8%), from €267,742 to €328,761
of which Leasing and similar rights: +€109,913
- Cash +€48,607
up €48,607 (+567%), from €8,566 to €57,173
mainly Depreciation (+€83,385) and Debts after one year (+€76,180)
- Receivables within one year +€8,137
up €8,137 (+2.8%), from €288,612 to €296,749
of which Trade receivables: +€48,178
- Debts after one year +€76,180
new in 2025: €76,180
- Reserves +€42,468
up €42,468 (+30.5%), from €139,432 to €181,900
- Other debts -€40,051
down €40,051 (-32.8%), from €122,023 to €81,972
- Current portion of long-term debt +€19,890
new in 2025: €19,890
- Accrued charges and deferred income +€8,742
up €8,742 (+333%), from €2,629 to €11,371
- Gross operating margin +€62,172
up €62,172 (+39.2%), from €158,564 to €220,736
- Depreciation +€47,674
up €47,674 (+133%), from €35,711 to €83,385
- Staff costs -€14,263
down €14,263 (-16.2%), from €87,962 to €73,699
- Financial charges +€6,017
up €6,017 (+698%), from €862 to €6,879
- Taxes +€5,676
up €5,676 (+78.5%), from €7,229 to €12,905
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 | €593,935 | €711,152 | +€117,217 | +19.7% |
| Fixed assets | 21/28 | €278,175 | €339,059 | +€60,884 | +21.9% |
| Tangible fixed assets | 22/27 | €267,742 | €328,761 | +€61,019 | +22.8% |
| Land and buildings | 22 | €39,671 | €32,811 | -€6,860 | -17.3% |
| Plant, machinery and equipment | 23 | €3,114 | €1,355 | -€1,759 | -56.5% |
| Furniture and vehicles | 24 | €224,957 | €184,682 | -€40,275 | -17.9% |
| Leasing and similar rights | 25 | - | €109,913 | +€109,913 | |
| Financial fixed assets | 28 | €10,433 | €10,298 | -€135 | -1.3% |
| Current assets | 29/58 | €315,760 | €372,093 | +€56,333 | +17.8% |
| Amounts receivable within one year | 40/41 | €288,612 | €296,749 | +€8,137 | +2.8% |
| Trade receivables | 40 | €242,595 | €290,773 | +€48,178 | +19.9% |
| Other amounts receivable | 41 | €46,017 | €5,976 | -€40,041 | -87.0% |
| Cash at bank and in hand | 54/58 | €8,566 | €57,173 | +€48,607 | +567% |
| Deferred charges and accrued income | 490/1 | €18,582 | €18,171 | -€411 | -2.2% |
| Total equity and liabilities | 10/49 | €593,935 | €711,152 | +€117,217 | +19.7% |
| Equity | 10/15 | €193,018 | €235,486 | +€42,468 | +22.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €139,432 | €181,900 | +€42,468 | +30.5% |
| Distributable reserves | 133 | €139,432 | €181,900 | +€42,468 | +30.5% |
| Profit (loss) carried forward | 14 | €33,586 | €33,586 | -€0 | 0.0% |
| Amounts payable | 17/49 | €400,917 | €475,666 | +€74,749 | +18.6% |
| Amounts payable after more than one year | 17 | - | €76,180 | +€76,180 | |
| Financial debts | 170/4 | - | €76,180 | +€76,180 | |
| Amounts payable within one year | 42/48 | €398,288 | €388,115 | -€10,173 | -2.6% |
| Current portion of amounts payable after more than one year | 42 | - | €19,890 | +€19,890 | |
| Trade debts | 44 | €265,360 | €269,472 | +€4,112 | +1.5% |
| Suppliers | 440/4 | €265,360 | €269,472 | +€4,112 | +1.5% |
| Taxes, remuneration and social security | 45 | €10,905 | €16,780 | +€5,875 | +53.9% |
| Taxes | 450/3 | €5,578 | €12,255 | +€6,677 | +120% |
| Remuneration and social security | 454/9 | €5,327 | €4,525 | -€802 | -15.1% |
| Other amounts payable | 47/48 | €122,023 | €81,972 | -€40,051 | -32.8% |
| Accrued charges and deferred income | 492/3 | €2,629 | €11,371 | +€8,742 | +333% |
| Non-recurring operating income | 76A | €20,000 | €48,000 | +€28,000 | +140% |
| Remuneration, social security and pensions | 62 | €87,962 | €73,699 | -€14,263 | -16.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,711 | €83,385 | +€47,674 | +133% |
| Other operating charges | 640/8 | €1,781 | €1,400 | -€381 | -21.4% |
| Gross operating margin | 9900 | €158,564 | €220,736 | +€62,172 | +39.2% |
| Operating profit (loss) | 9901 | €33,110 | €62,252 | +€29,142 | +88.0% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €862 | €6,879 | +€6,017 | +698% |
| Recurring financial charges | 65 | €862 | €6,879 | +€6,017 | +698% |
| Profit (loss) for the period before taxes | 9903 | €32,248 | €55,373 | +€23,125 | +71.7% |
| Income taxes | 67/77 | €7,229 | €12,905 | +€5,676 | +78.5% |
| Profit (loss) for the period | 9904 | €25,019 | €42,468 | +€17,449 | +69.7% |
| Profit (loss) for the period to be appropriated | 9905 | €25,019 | €42,468 | +€17,449 | +69.7% |
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 14 October 2026 via checked.be.