VASCOR: 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.
VASCOR
Largest movements
- Cash +€87,196
up €87,196 (+3,626%), from €2,405 to €89,601
mainly Depreciation (+€67,785) and Receivables within one year (+€49,343)
- Tangible fixed assets -€51,421
down €51,421 (-3.3%), from €1.6m to €1.5m
of which Land and buildings: -€64,238
- Receivables within one year -€49,343
down €49,343 (-90.1%), from €54,767 to €5,423
of which Trade receivables: -€51,000
- Tax, wage and social debts +€19,716
up €19,716 (+28.6%), from €69,000 to €88,716
of which Remuneration and social security: +€10,800
- Other debts -€19,439
down €19,439 (-2.3%), from €858,956 to €839,517
- Gross operating margin -€42,762
down €42,762 (-38.1%), from €112,307 to €69,545
- Depreciation +€11,221
up €11,221 (+19.8%), from €56,565 to €67,785
- Taxes -€10,577
no longer reported in 2025 (was €10,577)
- Other operating charges +€1,646
up €1,646 (+47.3%), from €3,484 to €5,130
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 | €1,623,285 | €1,611,603 | -€11,681 | -0.7% |
| Fixed assets | 21/28 | €1,565,543 | €1,514,122 | -€51,421 | -3.3% |
| Tangible fixed assets | 22/27 | €1,565,543 | €1,514,122 | -€51,421 | -3.3% |
| Land and buildings | 22 | €1,562,651 | €1,498,413 | -€64,238 | -4.1% |
| Plant, machinery and equipment | 23 | €2,665 | €4,750 | +€2,085 | +78.3% |
| Furniture and vehicles | 24 | €228 | €10,959 | +€10,732 | +4,717% |
| Current assets | 29/58 | €57,741 | €97,481 | +€39,740 | +68.8% |
| Amounts receivable within one year | 40/41 | €54,767 | €5,423 | -€49,343 | -90.1% |
| Trade receivables | 40 | €51,000 | - | -€51,000 | |
| Other amounts receivable | 41 | €3,767 | €5,423 | +€1,657 | +44.0% |
| Cash at bank and in hand | 54/58 | €2,405 | €89,601 | +€87,196 | +3,626% |
| Deferred charges and accrued income | 490/1 | €570 | €2,457 | +€1,887 | +331% |
| Total equity and liabilities | 10/49 | €1,623,285 | €1,611,603 | -€11,681 | -0.7% |
| Equity | 10/15 | €249,825 | €236,385 | -€13,440 | -5.4% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €229,420 | €215,980 | -€13,440 | -5.9% |
| Amounts payable | 17/49 | €1,373,459 | €1,375,218 | +€1,759 | +0.1% |
| Amounts payable after more than one year | 17 | €230,000 | €230,000 | = | 0.0% |
| Other amounts payable | 178/9 | €230,000 | €230,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,143,459 | €1,145,218 | +€1,759 | +0.2% |
| Trade debts | 44 | €215,503 | €216,985 | +€1,482 | +0.7% |
| Suppliers | 440/4 | €215,503 | €216,985 | +€1,482 | +0.7% |
| Taxes, remuneration and social security | 45 | €69,000 | €88,716 | +€19,716 | +28.6% |
| Taxes | 450/3 | €15,000 | €23,916 | +€8,916 | +59.4% |
| Remuneration and social security | 454/9 | €54,000 | €64,800 | +€10,800 | +20.0% |
| Other amounts payable | 47/48 | €858,956 | €839,517 | -€19,439 | -2.3% |
| Remuneration, social security and pensions | 62 | - | €44 | +€44 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,565 | €67,785 | +€11,221 | +19.8% |
| Other operating charges | 640/8 | €3,484 | €5,130 | +€1,646 | +47.3% |
| Gross operating margin | 9900 | €112,307 | €69,545 | -€42,762 | -38.1% |
| Operating profit (loss) | 9901 | €52,258 | -€3,414 | -€55,672 | |
| Financial income | 75/76B | €74 | €153 | +€79 | +108% |
| Recurring financial income | 75 | €74 | €153 | +€79 | +108% |
| Financial charges | 65/66B | €10,143 | €10,180 | +€37 | +0.4% |
| Recurring financial charges | 65 | €10,143 | €10,180 | +€37 | +0.4% |
| Profit (loss) for the period before taxes | 9903 | €42,189 | -€13,440 | -€55,630 | |
| Income taxes | 67/77 | €10,577 | - | -€10,577 | |
| Profit (loss) for the period | 9904 | €31,613 | -€13,440 | -€45,053 | |
| Profit (loss) for the period to be appropriated | 9905 | €31,613 | -€13,440 | -€45,053 |
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 16 October 2026 via checked.be.