VASSO: 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.
VASSO
Largest movements
- Receivables within one year -€15,035
down €15,035 (-35.0%), from €42,896 to €27,862
- Cash +€5,137
up €5,137 (+69.6%), from €7,380 to €12,516
mainly Receivables within one year (+€15,035) and Depreciation (+€4,098)
- Tangible fixed assets -€4,098
down €4,098 (-9.8%), from €41,962 to €37,865
of which Land and buildings: -€4,098
- Trade debts -€7,664
down €7,664 (-21.1%), from €36,265 to €28,601
- Other debts -€2,620
down €2,620 (-8.5%), from €30,742 to €28,122
- Debts after one year -€2,000
no longer reported in 2025 (was €2,000)
- Current portion of long-term debt -€1,639
no longer reported in 2025 (was €1,639)
- Profit (loss) carried forward +€1,216
up €1,216 (+5.1%), from -€23,708 to -€22,492
- Gross operating margin +€15,863
up €15,863, from -€6,414 to €9,449
- Financial charges -€547
down €547 (-42.6%), from €1,284 to €737
- Taxes +€461
new in 2025: €461
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 | €107,582 | €93,783 | -€13,798 | -12.8% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €41,962 | €37,865 | -€4,098 | -9.8% |
| Tangible fixed assets | 22/27 | €41,962 | €37,865 | -€4,098 | -9.8% |
| Land and buildings | 22 | €41,962 | €37,865 | -€4,098 | -9.8% |
| Plant, machinery and equipment | 23 | - | €0 | = | |
| Furniture and vehicles | 24 | - | €0 | = | |
| Current assets | 29/58 | €65,619 | €55,919 | -€9,701 | -14.8% |
| Stocks and contracts in progress | 3 | €15,343 | €15,343 | = | 0.0% |
| Stocks | 30/36 | €15,343 | €15,343 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €42,896 | €27,862 | -€15,035 | -35.0% |
| Trade receivables | 40 | €42,896 | €27,862 | -€15,035 | -35.0% |
| Cash at bank and in hand | 54/58 | €7,380 | €12,516 | +€5,137 | +69.6% |
| Deferred charges and accrued income | 490/1 | - | €198 | +€198 | |
| Total equity and liabilities | 10/49 | €107,582 | €93,783 | -€13,798 | -12.8% |
| Equity | 10/15 | €34,901 | €36,117 | +€1,216 | +3.5% |
| Contributions | 10/11 | €15,625 | €15,625 | = | 0.0% |
| Reserves | 13 | €42,984 | €42,984 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €41,124 | €41,124 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€23,708 | -€22,492 | +€1,216 | +5.1% |
| Amounts payable | 17/49 | €72,681 | €57,666 | -€15,015 | -20.7% |
| Amounts payable after more than one year | 17 | €2,000 | - | -€2,000 | |
| Financial debts | 170/4 | €2,000 | - | -€2,000 | |
| Amounts payable within one year | 42/48 | €70,681 | €57,666 | -€13,015 | -18.4% |
| Current portion of amounts payable after more than one year | 42 | €1,639 | - | -€1,639 | |
| Trade debts | 44 | €36,265 | €28,601 | -€7,664 | -21.1% |
| Suppliers | 440/4 | €36,265 | €28,601 | -€7,664 | -21.1% |
| Taxes, remuneration and social security | 45 | €2,035 | €943 | -€1,092 | -53.7% |
| Taxes | 450/3 | €2,035 | €943 | -€1,092 | -53.7% |
| Other amounts payable | 47/48 | €30,742 | €28,122 | -€2,620 | -8.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,098 | €4,098 | = | 0.0% |
| Other operating charges | 640/8 | €3,007 | €2,936 | -€71 | -2.4% |
| Gross operating margin | 9900 | -€6,414 | €9,449 | +€15,863 | |
| Operating profit (loss) | 9901 | -€13,519 | €2,414 | +€15,934 | |
| Financial income | 75/76B | €36 | €0 | -€36 | -99.9% |
| Recurring financial income | 75 | €36 | €0 | -€36 | -99.9% |
| Financial charges | 65/66B | €1,284 | €737 | -€547 | -42.6% |
| Recurring financial charges | 65 | €1,284 | €737 | -€547 | -42.6% |
| Profit (loss) for the period before taxes | 9903 | -€14,767 | €1,678 | +€16,445 | |
| Income taxes | 67/77 | - | €461 | +€461 | |
| Profit (loss) for the period | 9904 | -€14,767 | €1,216 | +€15,983 | |
| Profit (loss) for the period to be appropriated | 9905 | -€14,767 | €1,216 | +€15,983 |
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 29 September 2026 via checked.be.