VATOP: what changed
VATOP
Largest movements
- Receivables within one year +€15,195
up €15,195 (+36.2%), from €41,916 to €57,110
of which Trade receivables: +€17,137
- Cash -€14,884
down €14,884 (-70.6%), from €21,069 to €6,185
mainly Receivables within one year (-€15,195) and Trade debts (-€5,743)
- Tangible fixed assets -€4,484
down €4,484 (-23.4%), from €19,130 to €14,646
of which Furniture and vehicles: -€4,263
- Trade debts -€5,743
down €5,743 (-30.3%), from €18,947 to €13,203
of which Suppliers: -€6,154
- Profit (loss) carried forward +€5,588
up €5,588 (+10.1%), from €55,286 to €60,875
- Tax, wage and social debts -€4,018
down €4,018 (-75.2%), from €5,346 to €1,328
of which Remuneration and social security: -€5,318
- Gross operating margin -€6,073
down €6,073 (-23.1%), from €26,267 to €20,194
- Depreciation +€4,817
up €4,817 (+163%), from €2,962 to €7,779
- Taxes -€1,639
down €1,639 (-39.7%), from €4,128 to €2,490
- Other operating charges +€400
up €400 (+46.2%), from €866 to €1,267
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €82,115 | €77,941 | -€4,173 | -5.1% |
| Fixed assets | 21/28 | €19,130 | €14,646 | -€4,484 | -23.4% |
| Tangible fixed assets | 22/27 | €19,130 | €14,646 | -€4,484 | -23.4% |
| Plant, machinery and equipment | 23 | €221 | - | -€221 | |
| Furniture and vehicles | 24 | €18,909 | €14,646 | -€4,263 | -22.5% |
| Current assets | 29/58 | €62,985 | €63,295 | +€310 | +0.5% |
| Amounts receivable within one year | 40/41 | €41,916 | €57,110 | +€15,195 | +36.2% |
| Trade receivables | 40 | €39,026 | €56,163 | +€17,137 | +43.9% |
| Other amounts receivable | 41 | €2,890 | €947 | -€1,942 | -67.2% |
| Cash at bank and in hand | 54/58 | €21,069 | €6,185 | -€14,884 | -70.6% |
| Total equity and liabilities | 10/49 | €82,115 | €77,941 | -€4,173 | -5.1% |
| Equity | 10/15 | €57,786 | €63,375 | +€5,588 | +9.7% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €55,286 | €60,875 | +€5,588 | +10.1% |
| Amounts payable | 17/49 | €24,328 | €14,566 | -€9,762 | -40.1% |
| Amounts payable within one year | 42/48 | €24,328 | €14,566 | -€9,762 | -40.1% |
| Trade debts | 44 | €18,947 | €13,203 | -€5,743 | -30.3% |
| Suppliers | 440/4 | €18,947 | €12,793 | -€6,154 | -32.5% |
| Bills of exchange payable | 441 | - | €410 | +€410 | |
| Taxes, remuneration and social security | 45 | €5,346 | €1,328 | -€4,018 | -75.2% |
| Taxes | 450/3 | €28 | €1,328 | +€1,300 | +4,602% |
| Remuneration and social security | 454/9 | €5,318 | - | -€5,318 | |
| Other amounts payable | 47/48 | €35 | €35 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,962 | €7,779 | +€4,817 | +163% |
| Other operating charges | 640/8 | €866 | €1,267 | +€400 | +46.2% |
| Gross operating margin | 9900 | €26,267 | €20,194 | -€6,073 | -23.1% |
| Operating profit (loss) | 9901 | €22,439 | €11,149 | -€11,290 | -50.3% |
| Financial charges | 65/66B | €3,245 | €3,071 | -€174 | -5.4% |
| Recurring financial charges | 65 | €3,245 | €3,071 | -€174 | -5.4% |
| Profit (loss) for the period before taxes | 9903 | €19,194 | €8,078 | -€11,116 | -57.9% |
| Income taxes | 67/77 | €4,128 | €2,490 | -€1,639 | -39.7% |
| Profit (loss) for the period | 9904 | €15,066 | €5,588 | -€9,477 | -62.9% |
| Profit (loss) for the period to be appropriated | 9905 | €15,066 | €5,588 | -€9,477 | -62.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.