VAPA: 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.
VAPA
Largest movements
- Receivables within one year -€4,243
down €4,243 (-35.2%), from €12,041 to €7,798
of which Trade receivables: -€2,646
- Stocks and contracts -€2,250
down €2,250 (-100.0%), from €2,250 to €0
- Deferred charges and accrued income -€618
down €618 (-79.1%), from €781 to €163
- Cash +€561
up €561 (+33.0%), from €1,701 to €2,262
mainly Receivables within one year (+€4,243) and Other debts (+€3,470)
- Trade debts -€7,385
down €7,385 (-69.7%), from €10,595 to €3,209
- Other debts +€3,470
up €3,470 (+0.6%), from €548,123 to €551,593
- Profit (loss) carried forward -€2,650
down €2,650 (-0.4%), from -€631,737 to -€634,387
- Gross operating margin -€13,501
down €13,501, from €11,681 to -€1,820
- Financial charges -€220
down €220 (-75.8%), from €290 to €70
- Staff costs +€208
up €208, from -€208 to €0
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 | €35,757 | €29,207 | -€6,550 | -18.3% |
| Fixed assets | 21/28 | €18,983 | €18,983 | = | 0.0% |
| Intangible fixed assets | 21 | €218 | €218 | = | 0.0% |
| Tangible fixed assets | 22/27 | €18,765 | €18,765 | = | 0.0% |
| Land and buildings | 22 | €8,000 | €8,000 | = | 0.0% |
| Plant, machinery and equipment | 23 | €10,560 | €10,560 | = | 0.0% |
| Furniture and vehicles | 24 | €205 | €205 | = | 0.0% |
| Current assets | 29/58 | €16,773 | €10,223 | -€6,550 | -39.1% |
| Stocks and contracts in progress | 3 | €2,250 | €0 | -€2,250 | -100.0% |
| Stocks | 30/36 | €2,250 | €0 | -€2,250 | -100.0% |
| Amounts receivable within one year | 40/41 | €12,041 | €7,798 | -€4,243 | -35.2% |
| Trade receivables | 40 | €8,391 | €5,745 | -€2,646 | -31.5% |
| Other amounts receivable | 41 | €3,650 | €2,054 | -€1,596 | -43.7% |
| Cash at bank and in hand | 54/58 | €1,701 | €2,262 | +€561 | +33.0% |
| Deferred charges and accrued income | 490/1 | €781 | €163 | -€618 | -79.1% |
| Total equity and liabilities | 10/49 | €35,757 | €29,207 | -€6,550 | -18.3% |
| Equity | 10/15 | -€564,237 | -€566,887 | -€2,650 | -0.5% |
| Contributions | 10/11 | €67,500 | €67,500 | = | 0.0% |
| Capital | 10 | €67,500 | €67,500 | = | 0.0% |
| Issued capital | 100 | €67,500 | €67,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€631,737 | -€634,387 | -€2,650 | -0.4% |
| Amounts payable | 17/49 | €599,994 | €596,094 | -€3,901 | -0.7% |
| Amounts payable within one year | 42/48 | €560,619 | €556,719 | -€3,901 | -0.7% |
| Trade debts | 44 | €10,595 | €3,209 | -€7,385 | -69.7% |
| Suppliers | 440/4 | €10,595 | €3,209 | -€7,385 | -69.7% |
| Taxes, remuneration and social security | 45 | €1,902 | €1,916 | +€14 | +0.8% |
| Taxes | 450/3 | €1,902 | €1,916 | +€14 | +0.8% |
| Other amounts payable | 47/48 | €548,123 | €551,593 | +€3,470 | +0.6% |
| Accrued charges and deferred income | 492/3 | €39,375 | €39,375 | = | 0.0% |
| Remuneration, social security and pensions | 62 | -€208 | €0 | +€208 | |
| Other operating charges | 640/8 | €724 | €760 | +€36 | +5.0% |
| Gross operating margin | 9900 | €11,681 | -€1,820 | -€13,501 | |
| Operating profit (loss) | 9901 | €11,166 | -€2,579 | -€13,745 | |
| Financial income | 75/76B | €70 | €0 | -€70 | -100.0% |
| Recurring financial income | 75 | €70 | €0 | -€70 | -100.0% |
| Financial charges | 65/66B | €290 | €70 | -€220 | -75.8% |
| Recurring financial charges | 65 | €290 | €70 | -€220 | -75.8% |
| Profit (loss) for the period before taxes | 9903 | €10,946 | -€2,650 | -€13,595 | |
| Profit (loss) for the period | 9904 | €10,946 | -€2,650 | -€13,595 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,946 | -€2,650 | -€13,595 |
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 11 October 2026 via checked.be.