VAPACK: 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.
VAPACK
Largest movements
- Cash +€10,568
up €10,568 (+33.6%), from €31,475 to €42,044
mainly Depreciation (+€7,878) and Net result for the year (+€5,878)
- Tangible fixed assets -€7,878
down €7,878 (-66.7%), from €11,817 to €3,939
- Stocks and contracts -€2,364
down €2,364 (-9.7%), from €24,246 to €21,882
- Trade debts -€7,386
down €7,386 (-56.9%), from €12,990 to €5,605
- Profit (loss) carried forward +€5,878
up €5,878 (+15.3%), from -€38,539 to -€32,660
- Other debts +€2,840
up €2,840 (+12.8%), from €22,136 to €24,976
- Gross operating margin +€5,591
up €5,591 (+50.8%), from €10,995 to €16,586
- Depreciation -€363
down €363 (-4.4%), from €8,241 to €7,878
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 | €81,425 | €81,938 | +€514 | +0.6% |
| Fixed assets | 21/28 | €11,817 | €3,939 | -€7,878 | -66.7% |
| Tangible fixed assets | 22/27 | €11,817 | €3,939 | -€7,878 | -66.7% |
| Furniture and vehicles | 24 | €11,817 | €3,939 | -€7,878 | -66.7% |
| Current assets | 29/58 | €69,608 | €77,999 | +€8,391 | +12.1% |
| Stocks and contracts in progress | 3 | €24,246 | €21,882 | -€2,364 | -9.7% |
| Stocks | 30/36 | €24,246 | €21,882 | -€2,364 | -9.7% |
| Amounts receivable within one year | 40/41 | €11,387 | €11,573 | +€187 | +1.6% |
| Trade receivables | 40 | €11,387 | €11,573 | +€187 | +1.6% |
| Cash at bank and in hand | 54/58 | €31,475 | €42,044 | +€10,568 | +33.6% |
| Deferred charges and accrued income | 490/1 | €2,500 | €2,500 | = | 0.0% |
| Total equity and liabilities | 10/49 | €81,425 | €81,938 | +€514 | +0.6% |
| Equity | 10/15 | €43,940 | €49,819 | +€5,878 | +13.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Capital | 10 | €18,592 | €18,592 | = | 0.0% |
| Issued capital | 100 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €63,887 | €63,887 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Legal reserve | 130 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €62,028 | €62,028 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€38,539 | -€32,660 | +€5,878 | +15.3% |
| Amounts payable | 17/49 | €37,484 | €32,119 | -€5,365 | -14.3% |
| Amounts payable within one year | 42/48 | €37,484 | €32,119 | -€5,365 | -14.3% |
| Trade debts | 44 | €12,990 | €5,605 | -€7,386 | -56.9% |
| Suppliers | 440/4 | €12,990 | €5,605 | -€7,386 | -56.9% |
| Taxes, remuneration and social security | 45 | €2,357 | €1,538 | -€819 | -34.7% |
| Taxes | 450/3 | €2,357 | €1,538 | -€819 | -34.7% |
| Other amounts payable | 47/48 | €22,136 | €24,976 | +€2,840 | +12.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,241 | €7,878 | -€363 | -4.4% |
| Other operating charges | 640/8 | €2,959 | €2,855 | -€104 | -3.5% |
| Gross operating margin | 9900 | €10,995 | €16,586 | +€5,591 | +50.8% |
| Operating profit (loss) | 9901 | -€204 | €5,854 | +€6,058 | |
| Financial charges | 65/66B | €114 | -€24 | -€138 | |
| Recurring financial charges | 65 | €114 | -€24 | -€138 | |
| Profit (loss) for the period before taxes | 9903 | -€318 | €5,878 | +€6,197 | |
| Profit (loss) for the period | 9904 | -€318 | €5,878 | +€6,197 | |
| Profit (loss) for the period to be appropriated | 9905 | -€318 | €5,878 | +€6,197 |
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.