VASCOFLEC: 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.
VASCOFLEC
Largest movements
- Receivables within one year -€127,223
down €127,223 (-73.5%), from €173,177 to €45,954
of which Other amounts receivable: -€125,562
- Deferred charges and accrued income +€5,250
up €5,250 (+174.0%), from €3,018 to €8,268
- Cash +€2,236
up €2,236, from €0 to €2,236
mainly Receivables within one year (+€127,223) and Trade debts (+€13,545)
- Other debts -€136,530
down €136,530 (-93.4%), from €146,245 to €9,716
- Trade debts +€13,545
up €13,545 (+448.9%), from €3,018 to €16,563
- Reserves +€3,203
up €3,203 (+10.0%), from €31,929 to €35,132
of which Distributable reserves: +€3,203
- Gross operating margin +€6,273
up €6,273 (+90.7%), from €6,915 to €13,188
- Depreciation -€2,224
down €2,224 (-28.6%), from €7,788 to €5,564
- Other operating charges +€315
up €315 (+8.3%), from €3,784 to €4,099
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 | €200,268 | €80,002 | -€120,266 | -60.1% |
| Fixed assets | 21/28 | €24,073 | €23,544 | -€529 | -2.2% |
| Tangible fixed assets | 22/27 | €24,073 | €23,544 | -€529 | -2.2% |
| Land and buildings | 22 | €24,073 | €23,544 | -€529 | -2.2% |
| Current assets | 29/58 | €176,195 | €56,458 | -€119,737 | -68.0% |
| Amounts receivable within one year | 40/41 | €173,177 | €45,954 | -€127,223 | -73.5% |
| Trade receivables | 40 | €1,661 | €0 | -€1,661 | -100.0% |
| Other amounts receivable | 41 | €171,516 | €45,954 | -€125,562 | -73.2% |
| Cash at bank and in hand | 54/58 | €0 | €2,236 | +€2,236 | |
| Deferred charges and accrued income | 490/1 | €3,018 | €8,268 | +€5,250 | +174.0% |
| Total equity and liabilities | 10/49 | €200,268 | €80,002 | -€120,266 | -60.1% |
| Equity | 10/15 | €50,521 | €53,724 | +€3,203 | +6.3% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €31,929 | €35,132 | +€3,203 | +10.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €13,179 | €16,382 | +€3,203 | +24.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €149,747 | €26,279 | -€123,468 | -82.5% |
| Amounts payable within one year | 42/48 | €149,747 | €26,279 | -€123,468 | -82.5% |
| Financial debts | 43 | €354 | €0 | -€354 | -100.0% |
| Credit institutions | 430/8 | €354 | €0 | -€354 | -100.0% |
| Trade debts | 44 | €3,018 | €16,563 | +€13,545 | +448.9% |
| Suppliers | 440/4 | €3,018 | €16,563 | +€13,545 | +448.9% |
| Taxes, remuneration and social security | 45 | €130 | €0 | -€130 | -100.0% |
| Taxes | 450/3 | €130 | €0 | -€130 | -100.0% |
| Other amounts payable | 47/48 | €146,245 | €9,716 | -€136,530 | -93.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,788 | €5,564 | -€2,224 | -28.6% |
| Other operating charges | 640/8 | €3,784 | €4,099 | +€315 | +8.3% |
| Gross operating margin | 9900 | €6,915 | €13,188 | +€6,273 | +90.7% |
| Operating profit (loss) | 9901 | -€4,657 | €3,526 | +€8,183 | |
| Financial income | 75/76B | €20 | €0 | -€20 | -100.0% |
| Recurring financial income | 75 | €20 | €0 | -€20 | -100.0% |
| Financial charges | 65/66B | €306 | €323 | +€17 | +5.7% |
| Recurring financial charges | 65 | €306 | €323 | +€17 | +5.7% |
| Profit (loss) for the period before taxes | 9903 | -€4,943 | €3,203 | +€8,145 | |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€4,943 | €3,203 | +€8,145 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,943 | €3,203 | +€8,145 |
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 30 September 2026 via checked.be.