VASCOM: 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.
VASCOM
Largest movements
- Cash -€29,002
down €29,002 (-33.5%), from €86,628 to €57,626
mainly Current investments (-€25,007) and Receivables within one year (-€23,272)
- Current investments +€25,007
up €25,007 (+22.2%), from €112,519 to €137,526
- Receivables within one year +€23,272
up €23,272 (+13.5%), from €172,710 to €195,983
of which Trade receivables: +€21,436
- Stocks and contracts -€6,850
down €6,850 (-42.7%), from €16,031 to €9,181
- Profit (loss) carried forward +€14,806
up €14,806 (+11.6%), from €127,180 to €141,986
- Financial income -€12,779
down €12,779 (-84.3%), from €15,164 to €2,384
- Taxes -€4,342
down €4,342 (-47.4%), from €9,170 to €4,827
- Financial charges +€901
up €901 (+329%), from €274 to €1,175
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 | €397,029 | €410,232 | +€13,203 | +3.3% |
| Fixed assets | 21/28 | €6,811 | €6,955 | +€144 | +2.1% |
| Tangible fixed assets | 22/27 | €6,811 | €6,955 | +€144 | +2.1% |
| Plant, machinery and equipment | 23 | - | €858 | +€858 | |
| Furniture and vehicles | 24 | €6,811 | €6,098 | -€714 | -10.5% |
| Current assets | 29/58 | €390,218 | €403,277 | +€13,059 | +3.3% |
| Stocks and contracts in progress | 3 | €16,031 | €9,181 | -€6,850 | -42.7% |
| Contracts in progress | 37 | €16,031 | €9,181 | -€6,850 | -42.7% |
| Amounts receivable within one year | 40/41 | €172,710 | €195,983 | +€23,272 | +13.5% |
| Trade receivables | 40 | €151,342 | €172,778 | +€21,436 | +14.2% |
| Other amounts receivable | 41 | €21,368 | €23,204 | +€1,836 | +8.6% |
| Current investments | 50/53 | €112,519 | €137,526 | +€25,007 | +22.2% |
| Cash at bank and in hand | 54/58 | €86,628 | €57,626 | -€29,002 | -33.5% |
| Deferred charges and accrued income | 490/1 | €2,330 | €2,962 | +€632 | +27.1% |
| Total equity and liabilities | 10/49 | €397,029 | €410,232 | +€13,203 | +3.3% |
| Equity | 10/15 | €382,674 | €397,480 | +€14,806 | +3.9% |
| Contributions | 10/11 | €96,760 | €96,760 | = | 0.0% |
| Reserves | 13 | €158,734 | €158,734 | = | 0.0% |
| Distributable reserves | 133 | €158,734 | €158,734 | = | 0.0% |
| Profit (loss) carried forward | 14 | €127,180 | €141,986 | +€14,806 | +11.6% |
| Amounts payable | 17/49 | €14,355 | €12,752 | -€1,603 | -11.2% |
| Amounts payable within one year | 42/48 | €14,355 | €12,752 | -€1,603 | -11.2% |
| Financial debts | 43 | €4,739 | €4,750 | +€11 | +0.2% |
| Credit institutions | 430/8 | €4,739 | €4,750 | +€11 | +0.2% |
| Trade debts | 44 | €811 | €844 | +€34 | +4.1% |
| Suppliers | 440/4 | €811 | €844 | +€34 | +4.1% |
| Taxes, remuneration and social security | 45 | €4,669 | €6,545 | +€1,876 | +40.2% |
| Taxes | 450/3 | €4,669 | €6,198 | +€1,529 | +32.8% |
| Remuneration and social security | 454/9 | - | €347 | +€347 | |
| Other amounts payable | 47/48 | €4,137 | €612 | -€3,525 | -85.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €714 | €889 | +€175 | +24.6% |
| Other operating charges | 640/8 | €549 | €695 | +€146 | +26.5% |
| Gross operating margin | 9900 | €20,092 | €20,009 | -€83 | -0.4% |
| Operating profit (loss) | 9901 | €18,829 | €18,425 | -€404 | -2.1% |
| Financial income | 75/76B | €15,164 | €2,384 | -€12,779 | -84.3% |
| Recurring financial income | 75 | €15,164 | €2,384 | -€12,779 | -84.3% |
| Financial charges | 65/66B | €274 | €1,175 | +€901 | +329% |
| Recurring financial charges | 65 | €274 | €1,175 | +€901 | +329% |
| Profit (loss) for the period before taxes | 9903 | €33,718 | €19,634 | -€14,084 | -41.8% |
| Income taxes | 67/77 | €9,170 | €4,827 | -€4,342 | -47.4% |
| Profit (loss) for the period | 9904 | €24,549 | €14,806 | -€9,742 | -39.7% |
| Profit (loss) for the period to be appropriated | 9905 | €24,549 | €14,806 | -€9,742 | -39.7% |
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 31 October 2026 via checked.be.