VAULT ENTERPRISE: 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.
VAULT ENTERPRISE
Largest movements
- Tangible fixed assets -€8,265
down €8,265 (-25.5%), from €32,459 to €24,194
of which Land and buildings: -€5,208
- Deferred charges and accrued income -€5,650
down €5,650 (-100%), from €5,650 to €0
- Receivables within one year +€2,149
up €2,149 (+239%), from €898 to €3,047
of which Trade receivables: +€3,047
- Stocks and contracts -€1,541
down €1,541 (-8.5%), from €18,220 to €16,679
- Debts after one year -€14,656
down €14,656 (-49.5%), from €29,579 to €14,923
- Profit (loss) carried forward -€14,241
down €14,241 (-16.3%), from -€87,281 to -€101,522
- Tax, wage and social debts +€13,641
up €13,641 (+42.0%), from €32,449 to €46,090
of which Remuneration and social security: +€15,322
- Short-term financial debts +€4,498
up €4,498 (+167%), from €2,696 to €7,194
of which Other loans: +€2,470
- Current portion of long-term debt +€2,917
up €2,917 (+29.8%), from €9,778 to €12,696
- Staff costs -€34,098
down €34,098 (-71.0%), from €48,045 to €13,947
- Gross operating margin +€27,771
up €27,771, from -€12,845 to €14,926
- Financial charges -€1,324
down €1,324 (-18.7%), from €7,088 to €5,764
- Other operating charges -€677
down €677 (-34.3%), from €1,973 to €1,296
- Depreciation -€478
down €478 (-5.5%), from €8,735 to €8,256
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.
Derived cash bridge
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 | €57,275 | €44,239 | -€13,036 | -22.8% |
| Fixed assets | 21/28 | €32,459 | €24,194 | -€8,265 | -25.5% |
| Tangible fixed assets | 22/27 | €32,459 | €24,194 | -€8,265 | -25.5% |
| Land and buildings | 22 | €24,107 | €18,899 | -€5,208 | -21.6% |
| Plant, machinery and equipment | 23 | €8,343 | €5,295 | -€3,049 | -36.5% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Other tangible fixed assets | 26 | €9 | €0 | -€9 | -100% |
| Current assets | 29/58 | €24,816 | €20,045 | -€4,771 | -19.2% |
| Stocks and contracts in progress | 3 | €18,220 | €16,679 | -€1,541 | -8.5% |
| Stocks | 30/36 | €18,220 | €16,679 | -€1,541 | -8.5% |
| Amounts receivable within one year | 40/41 | €898 | €3,047 | +€2,149 | +239% |
| Trade receivables | 40 | €0 | €3,047 | +€3,047 | |
| Other amounts receivable | 41 | €898 | €0 | -€898 | -100% |
| Cash at bank and in hand | 54/58 | €48 | €319 | +€271 | +563% |
| Deferred charges and accrued income | 490/1 | €5,650 | €0 | -€5,650 | -100% |
| Total equity and liabilities | 10/49 | €57,275 | €44,239 | -€13,036 | -22.8% |
| Equity | 10/15 | -€58,935 | -€73,176 | -€14,241 | -24.2% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €27,346 | €27,346 | = | 0.0% |
| Distributable reserves | 133 | €27,346 | €27,346 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€87,281 | -€101,522 | -€14,241 | -16.3% |
| Amounts payable | 17/49 | €116,209 | €117,415 | +€1,206 | +1.0% |
| Amounts payable after more than one year | 17 | €29,579 | €14,923 | -€14,656 | -49.5% |
| Financial debts | 170/4 | €29,579 | €14,923 | -€14,656 | -49.5% |
| Amounts payable within one year | 42/48 | €83,724 | €102,492 | +€18,768 | +22.4% |
| Current portion of amounts payable after more than one year | 42 | €9,778 | €12,696 | +€2,917 | +29.8% |
| Financial debts | 43 | €2,696 | €7,194 | +€4,498 | +167% |
| Credit institutions | 430/8 | €2,696 | €4,724 | +€2,028 | +75.2% |
| Other loans | 439 | - | €2,470 | +€2,470 | |
| Trade debts | 44 | €12,220 | €9,832 | -€2,388 | -19.5% |
| Suppliers | 440/4 | €12,220 | €9,832 | -€2,388 | -19.5% |
| Taxes, remuneration and social security | 45 | €32,449 | €46,090 | +€13,641 | +42.0% |
| Taxes | 450/3 | €4,670 | €2,989 | -€1,681 | -36.0% |
| Remuneration and social security | 454/9 | €27,779 | €43,101 | +€15,322 | +55.2% |
| Other amounts payable | 47/48 | €26,580 | €26,681 | +€100 | +0.4% |
| Accrued charges and deferred income | 492/3 | €2,906 | €0 | -€2,906 | -100% |
| Remuneration, social security and pensions | 62 | €48,045 | €13,947 | -€34,098 | -71.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,735 | €8,256 | -€478 | -5.5% |
| Other operating charges | 640/8 | €1,973 | €1,296 | -€677 | -34.3% |
| Gross operating margin | 9900 | -€12,845 | €14,926 | +€27,771 | |
| Operating profit (loss) | 9901 | -€71,598 | -€8,573 | +€63,024 | +88.0% |
| Financial income | 75/76B | €632 | €237 | -€395 | -62.5% |
| Recurring financial income | 75 | €632 | €237 | -€395 | -62.5% |
| Financial charges | 65/66B | €7,088 | €5,764 | -€1,324 | -18.7% |
| Recurring financial charges | 65 | €7,088 | €5,764 | -€1,324 | -18.7% |
| Profit (loss) for the period before taxes | 9903 | -€78,054 | -€14,101 | +€63,953 | +81.9% |
| Income taxes | 67/77 | €140 | €141 | +€1 | +1.0% |
| Profit (loss) for the period | 9904 | -€78,194 | -€14,241 | +€63,952 | +81.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€78,194 | -€14,241 | +€63,952 | +81.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.