VARGAS L.A.: what changed
VARGAS L.A.
Largest movements
- Cash -€54,291
down €54,291 (-44.2%), from €122,831 to €68,540
mainly Tax, wage and social debts (-€34,916) and Receivables within one year (-€26,808)
- Receivables within one year +€26,808
up €26,808 (+56.4%), from €47,492 to €74,300
of which Other amounts receivable: +€37,441
- Tangible fixed assets -€8,946
down €8,946 (-30.7%), from €29,179 to €20,233
of which Furniture and vehicles: -€8,167
- Tax, wage and social debts -€34,916
down €34,916 (-68.8%), from €50,715 to €15,799
of which Taxes: -€33,316
- Trade debts +€13,878
up €13,878 (+153%), from €9,081 to €22,959
- Accrued charges and deferred income -€9,207
no longer reported in 2025 (was €9,207)
- Debts after one year -€6,268
down €6,268 (-38.2%), from €16,424 to €10,156
- Gross operating margin -€74,776
down €74,776 (-86.0%), from €86,923 to €12,147
- Taxes -€23,360
down €23,360 (-94.7%), from €24,667 to €1,307
- Depreciation -€3,594
down €3,594 (-28.7%), from €12,540 to €8,946
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €201,030 | €164,733 | -€36,297 | -18.1% |
| Fixed assets | 21/28 | €29,220 | €20,274 | -€8,946 | -30.6% |
| Tangible fixed assets | 22/27 | €29,179 | €20,233 | -€8,946 | -30.7% |
| Plant, machinery and equipment | 23 | €2,052 | €1,273 | -€779 | -38.0% |
| Furniture and vehicles | 24 | €27,127 | €18,960 | -€8,167 | -30.1% |
| Financial fixed assets | 28 | €41 | €41 | = | 0.0% |
| Current assets | 29/58 | €171,810 | €144,459 | -€27,351 | -15.9% |
| Amounts receivable within one year | 40/41 | €47,492 | €74,300 | +€26,808 | +56.4% |
| Trade receivables | 40 | €47,114 | €36,481 | -€10,633 | -22.6% |
| Other amounts receivable | 41 | €378 | €37,819 | +€37,441 | +9,905% |
| Cash at bank and in hand | 54/58 | €122,831 | €68,540 | -€54,291 | -44.2% |
| Deferred charges and accrued income | 490/1 | €1,487 | €1,619 | +€132 | +8.9% |
| Total equity and liabilities | 10/49 | €201,030 | €164,733 | -€36,297 | -18.1% |
| Equity | 10/15 | €108,356 | €109,310 | +€954 | +0.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €92,034 | €92,034 | = | 0.0% |
| Non-distributable reserves | 130/1 | €34 | €34 | = | 0.0% |
| Reserves not available under the articles | 1311 | €34 | €34 | = | 0.0% |
| Distributable reserves | 133 | €92,000 | €92,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,122 | €11,076 | +€954 | +9.4% |
| Amounts payable | 17/49 | €92,674 | €55,423 | -€37,251 | -40.2% |
| Amounts payable after more than one year | 17 | €16,424 | €10,156 | -€6,268 | -38.2% |
| Financial debts | 170/4 | €16,424 | €10,156 | -€6,268 | -38.2% |
| Amounts payable within one year | 42/48 | €67,043 | €45,267 | -€21,776 | -32.5% |
| Current portion of amounts payable after more than one year | 42 | €7,245 | €6,509 | -€736 | -10.2% |
| Trade debts | 44 | €9,081 | €22,959 | +€13,878 | +153% |
| Suppliers | 440/4 | €9,081 | €22,959 | +€13,878 | +153% |
| Taxes, remuneration and social security | 45 | €50,715 | €15,799 | -€34,916 | -68.8% |
| Taxes | 450/3 | €49,115 | €15,799 | -€33,316 | -67.8% |
| Remuneration and social security | 454/9 | €1,600 | - | -€1,600 | |
| Other amounts payable | 47/48 | €2 | - | -€2 | |
| Accrued charges and deferred income | 492/3 | €9,207 | - | -€9,207 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,540 | €8,946 | -€3,594 | -28.7% |
| Other operating charges | 640/8 | €116 | - | -€116 | |
| Non-recurring operating charges | 66A | €412 | - | -€412 | |
| Gross operating margin | 9900 | €86,923 | €12,147 | -€74,776 | -86.0% |
| Operating profit (loss) | 9901 | €73,855 | €3,201 | -€70,654 | -95.7% |
| Financial income | 75/76B | - | €12 | +€12 | |
| Recurring financial income | 75 | - | €12 | +€12 | |
| Financial charges | 65/66B | €836 | €952 | +€116 | +13.9% |
| Recurring financial charges | 65 | €836 | €952 | +€116 | +13.9% |
| Profit (loss) for the period before taxes | 9903 | €73,019 | €2,261 | -€70,758 | -96.9% |
| Income taxes | 67/77 | €24,667 | €1,307 | -€23,360 | -94.7% |
| Profit (loss) for the period | 9904 | €48,352 | €954 | -€47,398 | -98.0% |
| Profit (loss) for the period to be appropriated | 9905 | €48,352 | €954 | -€47,398 | -98.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 May 2024 and 31 May 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.