VATELO: 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.
VATELO
Largest movements
- Cash +€9,637
up €9,637 (+21.6%), from €44,691 to €54,328
mainly Net result for the year (+€6,101) and Depreciation (+€3,457)
- Tangible fixed assets -€3,457
down €3,457 (-6.0%), from €57,399 to €53,943
- Reserves +€6,101
up €6,101 (+17.7%), from €34,446 to €40,547
- Gross operating margin +€432
up €432 (+3.3%), from €13,169 to €13,601
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 | €102,191 | €108,325 | +€6,135 | +6.0% |
| Fixed assets | 21/28 | €57,399 | €53,943 | -€3,457 | -6.0% |
| Tangible fixed assets | 22/27 | €57,399 | €53,943 | -€3,457 | -6.0% |
| Land and buildings | 22 | €57,399 | €53,943 | -€3,457 | -6.0% |
| Current assets | 29/58 | €44,791 | €54,383 | +€9,591 | +21.4% |
| Amounts receivable within one year | 40/41 | €55 | €0 | -€55 | -100.0% |
| Other amounts receivable | 41 | €55 | €0 | -€55 | -100.0% |
| Cash at bank and in hand | 54/58 | €44,691 | €54,328 | +€9,637 | +21.6% |
| Deferred charges and accrued income | 490/1 | €45 | €54 | +€10 | +21.4% |
| Total equity and liabilities | 10/49 | €102,191 | €108,325 | +€6,135 | +6.0% |
| Equity | 10/15 | €53,038 | €59,139 | +€6,101 | +11.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €34,446 | €40,547 | +€6,101 | +17.7% |
| Distributable reserves | 133 | €34,446 | €40,547 | +€6,101 | +17.7% |
| Amounts payable | 17/49 | €49,153 | €49,186 | +€34 | +0.1% |
| Amounts payable within one year | 42/48 | €48,427 | €48,460 | +€34 | +0.1% |
| Taxes, remuneration and social security | 45 | €0 | €34 | +€34 | |
| Taxes | 450/3 | €0 | €34 | +€34 | |
| Other amounts payable | 47/48 | €48,427 | €48,427 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €726 | €726 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,457 | €3,457 | = | 0.0% |
| Other operating charges | 640/8 | €1,779 | €1,834 | +€55 | +3.1% |
| Gross operating margin | 9900 | €13,169 | €13,601 | +€432 | +3.3% |
| Operating profit (loss) | 9901 | €7,934 | €8,311 | +€377 | +4.8% |
| Financial charges | 65/66B | €153 | €176 | +€23 | +14.9% |
| Recurring financial charges | 65 | €153 | €176 | +€23 | +14.9% |
| Profit (loss) for the period before taxes | 9903 | €7,780 | €8,135 | +€354 | +4.6% |
| Income taxes | 67/77 | €1,945 | €2,034 | +€89 | +4.6% |
| Profit (loss) for the period | 9904 | €5,835 | €6,101 | +€266 | +4.6% |
| Profit (loss) for the period to be appropriated | 9905 | €5,835 | €6,101 | +€266 | +4.6% |
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 5 October 2026 via checked.be.