VASCUMED: 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.
VASCUMED
Largest movements
- Cash -€24,815
down €24,815 (-15.4%), from €160,947 to €136,132
mainly Contributions, distributions and other (-€82,353) and Debts after one year (-€16,760)
- Intangible fixed assets -€9,500
down €9,500 (-100.0%), from €9,500 to €0
- Tangible fixed assets -€7,183
down €7,183 (-5.8%), from €122,847 to €115,665
of which Land and buildings: -€4,701
- Profit (loss) carried forward -€37,203
down €37,203 (-44.9%), from €82,831 to €45,628
- Tax, wage and social debts +€18,734
up €18,734 (+275.5%), from €6,800 to €25,534
of which Taxes: +€18,734
- Debts after one year -€16,760
down €16,760 (-19.6%), from €85,328 to €68,568
- Current portion of long-term debt -€8,190
down €8,190 (-32.8%), from €24,950 to €16,760
- Accrued charges and deferred income +€4,680
new in 2025: €4,680
- Taxes -€7,977
down €7,977 (-33.2%), from €24,016 to €16,040
- Gross operating margin -€3,238
down €3,238 (-3.8%), from €85,445 to €82,207
- Depreciation -€1,732
down €1,732 (-9.2%), from €18,859 to €17,127
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 | €295,134 | €255,488 | -€39,646 | -13.4% |
| Fixed assets | 21/28 | €132,347 | €115,665 | -€16,683 | -12.6% |
| Intangible fixed assets | 21 | €9,500 | €0 | -€9,500 | -100.0% |
| Tangible fixed assets | 22/27 | €122,847 | €115,665 | -€7,183 | -5.8% |
| Land and buildings | 22 | €118,041 | €113,340 | -€4,701 | -4.0% |
| Plant, machinery and equipment | 23 | €2,608 | €749 | -€1,859 | -71.3% |
| Furniture and vehicles | 24 | €2,198 | €1,575 | -€623 | -28.3% |
| Current assets | 29/58 | €162,787 | €139,824 | -€22,963 | -14.1% |
| Amounts receivable within one year | 40/41 | €1,840 | €3,692 | +€1,852 | +100.7% |
| Trade receivables | 40 | €1,840 | €1,854 | +€14 | +0.8% |
| Other amounts receivable | 41 | - | €1,838 | +€1,838 | |
| Cash at bank and in hand | 54/58 | €160,947 | €136,132 | -€24,815 | -15.4% |
| Total equity and liabilities | 10/49 | €295,134 | €255,488 | -€39,646 | -13.4% |
| Equity | 10/15 | €101,686 | €64,482 | -€37,203 | -36.6% |
| Contributions | 10/11 | €18,854 | €18,854 | = | 0.0% |
| Profit (loss) carried forward | 14 | €82,831 | €45,628 | -€37,203 | -44.9% |
| Amounts payable | 17/49 | €193,449 | €191,006 | -€2,443 | -1.3% |
| Amounts payable after more than one year | 17 | €85,328 | €68,568 | -€16,760 | -19.6% |
| Financial debts | 170/4 | €85,328 | €68,568 | -€16,760 | -19.6% |
| Amounts payable within one year | 42/48 | €108,120 | €117,758 | +€9,638 | +8.9% |
| Current portion of amounts payable after more than one year | 42 | €24,950 | €16,760 | -€8,190 | -32.8% |
| Trade debts | 44 | €216 | €910 | +€694 | +322.0% |
| Suppliers | 440/4 | €216 | €910 | +€694 | +322.0% |
| Taxes, remuneration and social security | 45 | €6,800 | €25,534 | +€18,734 | +275.5% |
| Taxes | 450/3 | €3,800 | €22,534 | +€18,734 | +493.0% |
| Remuneration and social security | 454/9 | €3,000 | €3,000 | = | 0.0% |
| Other amounts payable | 47/48 | €76,155 | €74,554 | -€1,601 | -2.1% |
| Accrued charges and deferred income | 492/3 | - | €4,680 | +€4,680 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,859 | €17,127 | -€1,732 | -9.2% |
| Other operating charges | 640/8 | €2,349 | €1,826 | -€523 | -22.3% |
| Non-recurring operating charges | 66A | €886 | €0 | -€886 | -100.0% |
| Gross operating margin | 9900 | €85,445 | €82,207 | -€3,238 | -3.8% |
| Operating profit (loss) | 9901 | €63,351 | €63,255 | -€96 | -0.2% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €2,352 | €2,066 | -€286 | -12.2% |
| Recurring financial charges | 65 | €2,352 | €2,066 | -€286 | -12.2% |
| Profit (loss) for the period before taxes | 9903 | €61,000 | €61,189 | +€190 | +0.3% |
| Income taxes | 67/77 | €24,016 | €16,040 | -€7,977 | -33.2% |
| Profit (loss) for the period | 9904 | €36,983 | €45,150 | +€8,166 | +22.1% |
| Profit (loss) for the period to be appropriated | 9905 | €36,983 | €45,150 | +€8,166 | +22.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.