VASCORTH: 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.
VASCORTH
Largest movements
- Tangible fixed assets -€25,606
down €25,606 (-7.5%), from €342,939 to €317,333
of which Land and buildings: -€23,925
- Receivables within one year +€7,317
new in 2024: €7,317
- Cash +€5,303
up €5,303 (+153%), from €3,465 to €8,769
mainly Depreciation (+€27,817) and Trade debts (+€4,465)
- Debts after one year -€14,482
no longer reported in 2024 (was €14,482)
- Current portion of long-term debt -€6,052
no longer reported in 2024 (was €6,052)
- Trade debts +€4,465
up €4,465 (+132%), from €3,379 to €7,844
- Gross operating margin +€9,766
up €9,766 (+25.7%), from €38,026 to €47,793
- Financial charges -€1,331
down €1,331 (-51.2%), from €2,600 to €1,269
- Staff costs -€965
down €965 (-7.4%), from €13,119 to €12,154
- Depreciation -€528
down €528 (-1.9%), from €28,346 to €27,817
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €358,522 | €344,173 | -€14,349 | -4.0% |
| Fixed assets | 21/28 | €343,413 | €317,807 | -€25,606 | -7.5% |
| Tangible fixed assets | 22/27 | €342,939 | €317,333 | -€25,606 | -7.5% |
| Land and buildings | 22 | €333,870 | €309,945 | -€23,925 | -7.2% |
| Furniture and vehicles | 24 | €9,069 | €7,388 | -€1,681 | -18.5% |
| Financial fixed assets | 28 | €474 | €474 | = | 0.0% |
| Current assets | 29/58 | €15,109 | €26,366 | +€11,258 | +74.5% |
| Amounts receivable within one year | 40/41 | - | €7,317 | +€7,317 | |
| Other amounts receivable | 41 | - | €7,317 | +€7,317 | |
| Cash at bank and in hand | 54/58 | €3,465 | €8,769 | +€5,303 | +153% |
| Deferred charges and accrued income | 490/1 | €11,644 | €10,280 | -€1,363 | -11.7% |
| Total equity and liabilities | 10/49 | €358,522 | €344,173 | -€14,349 | -4.0% |
| Equity | 10/15 | €323,723 | €326,753 | +€3,030 | +0.9% |
| Contributions | 10/11 | €185,025 | €185,025 | = | 0.0% |
| Capital | 10 | €185,025 | €185,025 | = | 0.0% |
| Issued capital | 100 | €185,025 | €185,025 | = | 0.0% |
| Reserves | 13 | €138,698 | €141,728 | +€3,030 | +2.2% |
| Non-distributable reserves | 130/1 | €18,503 | €18,503 | = | 0.0% |
| Legal reserve | 130 | €18,503 | €18,503 | = | 0.0% |
| Tax-exempt reserves | 132 | €47,817 | €47,817 | = | 0.0% |
| Distributable reserves | 133 | €72,379 | €75,408 | +€3,030 | +4.2% |
| Amounts payable | 17/49 | €34,798 | €17,420 | -€17,378 | -49.9% |
| Amounts payable after more than one year | 17 | €14,482 | - | -€14,482 | |
| Other amounts payable | 178/9 | €14,482 | - | -€14,482 | |
| Amounts payable within one year | 42/48 | €17,276 | €17,420 | +€144 | +0.8% |
| Current portion of amounts payable after more than one year | 42 | €6,052 | - | -€6,052 | |
| Trade debts | 44 | €3,379 | €7,844 | +€4,465 | +132% |
| Suppliers | 440/4 | €3,379 | €7,844 | +€4,465 | +132% |
| Taxes, remuneration and social security | 45 | €4,825 | €4,662 | -€163 | -3.4% |
| Taxes | 450/3 | €467 | €226 | -€241 | -51.7% |
| Remuneration and social security | 454/9 | €4,357 | €4,436 | +€78 | +1.8% |
| Other amounts payable | 47/48 | €3,020 | €4,915 | +€1,895 | +62.7% |
| Accrued charges and deferred income | 492/3 | €3,040 | - | -€3,040 | |
| Remuneration, social security and pensions | 62 | €13,119 | €12,154 | -€965 | -7.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,346 | €27,817 | -€528 | -1.9% |
| Other operating charges | 640/8 | €3,269 | €3,340 | +€71 | +2.2% |
| Gross operating margin | 9900 | €38,026 | €47,793 | +€9,766 | +25.7% |
| Operating profit (loss) | 9901 | -€6,708 | €4,481 | +€11,189 | |
| Financial income | 75/76B | €0 | €1 | +€0 | +89.3% |
| Recurring financial income | 75 | €0 | €1 | +€0 | +89.3% |
| Financial charges | 65/66B | €2,600 | €1,269 | -€1,331 | -51.2% |
| Recurring financial charges | 65 | €2,600 | €1,269 | -€1,331 | -51.2% |
| Profit (loss) for the period before taxes | 9903 | -€9,307 | €3,212 | +€12,520 | |
| Income taxes | 67/77 | €226 | €183 | -€43 | -19.1% |
| Profit (loss) for the period | 9904 | -€9,533 | €3,030 | +€12,563 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,533 | €3,030 | +€12,563 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.