VAQUSO: what changed
Two fiscal 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.
VAQUSO
Largest movements
- Cash -€24,231
down €24,231 (-43.6%), from €55,583 to €31,352
mainly Contributions, distributions and other (-€30,000) and Receivables within one year (-€19,637)
- Receivables within one year +€19,637
up €19,637 (+265.2%), from €7,405 to €27,042
- Tangible fixed assets +€1,414
up €1,414 (+206.6%), from €685 to €2,099
- Trade debts +€12,806
up €12,806 (+1452.1%), from €882 to €13,688
- Other debts -€10,105
down €10,105 (-24.3%), from €41,623 to €31,518
- Profit (loss) carried forward -€3,325
down €3,325 (-93.7%), from €3,547 to €222
- Tax, wage and social debts -€2,963
down €2,963 (-16.9%), from €17,520 to €14,557
- Gross operating margin -€17,682
down €17,682 (-33.1%), from €53,495 to €35,813
- Taxes -€3,483
down €3,483 (-31.9%), from €10,919 to €7,436
- Depreciation +€648
up €648 (+866.2%), from €75 to €723
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 | €63,672 | €60,493 | -€3,179 | -5.0% |
| Fixed assets | 21/28 | €685 | €2,099 | +€1,414 | +206.6% |
| Tangible fixed assets | 22/27 | €685 | €2,099 | +€1,414 | +206.6% |
| Furniture and vehicles | 24 | €685 | €2,099 | +€1,414 | +206.6% |
| Current assets | 29/58 | €62,988 | €58,395 | -€4,593 | -7.3% |
| Amounts receivable within one year | 40/41 | €7,405 | €27,042 | +€19,637 | +265.2% |
| Trade receivables | 40 | €7,405 | €27,042 | +€19,637 | +265.2% |
| Cash at bank and in hand | 54/58 | €55,583 | €31,352 | -€24,231 | -43.6% |
| Total equity and liabilities | 10/49 | €63,672 | €60,493 | -€3,179 | -5.0% |
| Equity | 10/15 | €3,647 | €322 | -€3,325 | -91.2% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,547 | €222 | -€3,325 | -93.7% |
| Amounts payable | 17/49 | €60,025 | €60,171 | +€146 | +0.2% |
| Amounts payable within one year | 42/48 | €60,025 | €59,764 | -€262 | -0.4% |
| Trade debts | 44 | €882 | €13,688 | +€12,806 | +1452.1% |
| Suppliers | 440/4 | €882 | €13,688 | +€12,806 | +1452.1% |
| Taxes, remuneration and social security | 45 | €17,520 | €14,557 | -€2,963 | -16.9% |
| Taxes | 450/3 | €17,520 | €14,557 | -€2,963 | -16.9% |
| Other amounts payable | 47/48 | €41,623 | €31,518 | -€10,105 | -24.3% |
| Accrued charges and deferred income | 492/3 | - | €408 | +€408 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €75 | €723 | +€648 | +866.2% |
| Other operating charges | 640/8 | €451 | €682 | +€230 | +51.1% |
| Gross operating margin | 9900 | €53,495 | €35,813 | -€17,682 | -33.1% |
| Operating profit (loss) | 9901 | €52,969 | €34,409 | -€18,560 | -35.0% |
| Financial charges | 65/66B | €96 | €298 | +€202 | +210.9% |
| Recurring financial charges | 65 | €96 | €298 | +€202 | +210.9% |
| Profit (loss) for the period before taxes | 9903 | €52,873 | €34,111 | -€18,762 | -35.5% |
| Income taxes | 67/77 | €10,919 | €7,436 | -€3,483 | -31.9% |
| Profit (loss) for the period | 9904 | €41,954 | €26,675 | -€15,279 | -36.4% |
| Profit (loss) for the period to be appropriated | 9905 | €41,954 | €26,675 | -€15,279 | -36.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.