Vaultspeed: 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.
Vaultspeed
Largest movements
- Cash +€1.5m
up €1.5m (+245%), from €600,007 to €2.1m
mainly Contributions, distributions and other (+€4.6m) and Depreciation (+€1.6m)
- Receivables within one year +€630,431
up €630,431 (+55.7%), from €1.1m to €1.8m
of which Trade receivables: +€850,412
- Contributions +€4.6m
up €4.6m (+23.8%), from €19.3m to €23.9m
of which Contributions outside capital: +€4.2m
- Profit (loss) carried forward -€4.1m
down €4.1m (-23.8%), from -€17.1m to -€21.1m
- Advances received +€1.3m
up €1.3m (+88.0%), from €1.5m to €2.9m
- Trade debts +€315,438
up €315,438 (+51.3%), from €614,788 to €930,225
- Gross operating margin +€765,357
up €765,357 (+30.5%), from -€2.5m to -€1.7m
- Staff costs -€649,980
down €649,980 (-48.9%), from €1.3m to €679,583
- Purchases and services -€604,573
down €604,573 (-8.0%), from €7.5m to €6.9m
- Turnover +€257,604
up €257,604 (+8.5%), from €3.0m to €3.3m
- Depreciation +€207,504
up €207,504 (+15.0%), from €1.4m to €1.6m
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 | €4,511,593 | €6,696,626 | +€2.2m | +48.4% |
| Fixed assets | 21/28 | €2,659,942 | €2,678,252 | +€18,309 | +0.7% |
| Intangible fixed assets | 21 | €2,593,361 | €2,639,216 | +€45,855 | +1.8% |
| Tangible fixed assets | 22/27 | €15,289 | €9,653 | -€5,637 | -36.9% |
| Plant, machinery and equipment | 23 | €13,841 | €650 | -€13,191 | -95.3% |
| Furniture and vehicles | 24 | €1,448 | €9,003 | +€7,554 | +522% |
| Financial fixed assets | 28 | €51,292 | €29,383 | -€21,909 | -42.7% |
| Current assets | 29/58 | €1,851,651 | €4,018,374 | +€2.2m | +117% |
| Amounts receivable within one year | 40/41 | €1,131,073 | €1,761,504 | +€630,431 | +55.7% |
| Trade receivables | 40 | €901,073 | €1,751,485 | +€850,412 | +94.4% |
| Other amounts receivable | 41 | €230,000 | €10,019 | -€219,981 | -95.6% |
| Cash at bank and in hand | 54/58 | €600,007 | €2,070,699 | +€1.5m | +245% |
| Deferred charges and accrued income | 490/1 | €120,571 | €186,171 | +€65,600 | +54.4% |
| Total equity and liabilities | 10/49 | €4,511,593 | €6,696,626 | +€2.2m | +48.4% |
| Equity | 10/15 | €2,244,204 | €2,788,139 | +€543,936 | +24.2% |
| Contributions | 10/11 | €19,301,729 | €23,901,607 | +€4.6m | +23.8% |
| Capital | 10 | €2,284,755 | €2,732,772 | +€448,017 | +19.6% |
| Issued capital | 100 | €2,284,755 | €2,732,772 | +€448,017 | +19.6% |
| Contributions outside capital | 11 | €17,016,974 | €21,168,835 | +€4.2m | +24.4% |
| Share premium | 1100/10 | €17,016,974 | €21,168,835 | +€4.2m | +24.4% |
| Profit (loss) carried forward | 14 | -€17,057,526 | -€21,113,467 | -€4.1m | -23.8% |
| Amounts payable | 17/49 | €2,267,389 | €3,908,486 | +€1.6m | +72.4% |
| Amounts payable within one year | 42/48 | €2,267,389 | €3,896,575 | +€1.6m | +71.9% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €614,788 | €930,225 | +€315,438 | +51.3% |
| Suppliers | 440/4 | €614,788 | €930,225 | +€315,438 | +51.3% |
| Advances received on contracts in progress | 46 | €1,530,850 | €2,878,634 | +€1.3m | +88.0% |
| Taxes, remuneration and social security | 45 | €121,752 | €87,716 | -€34,036 | -28.0% |
| Taxes | 450/3 | €331 | €13,950 | +€13,619 | +4,112% |
| Remuneration and social security | 454/9 | €121,421 | €73,766 | -€47,655 | -39.2% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €0 | €11,912 | +€11,912 | |
| Turnover | 70 | €3,017,730 | €3,275,334 | +€257,604 | +8.5% |
| Goods, raw materials, services and sundry goods | 60/61 | €7,544,656 | €6,940,083 | -€604,573 | -8.0% |
| Remuneration, social security and pensions | 62 | €1,329,562 | €679,583 | -€649,980 | -48.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,382,109 | €1,589,612 | +€207,504 | +15.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €9,382 | €998 | -€8,383 | -89.4% |
| Gross operating margin | 9900 | -€2,511,203 | -€1,745,846 | +€765,357 | +30.5% |
| Operating profit (loss) | 9901 | -€5,232,256 | -€4,016,040 | +€1.2m | +23.2% |
| Financial income | 75/76B | €86,105 | €49,192 | -€36,913 | -42.9% |
| Recurring financial income | 75 | €86,105 | €49,192 | -€36,913 | -42.9% |
| Financial charges | 65/66B | €44,673 | €88,905 | +€44,232 | +99.0% |
| Recurring financial charges | 65 | €44,673 | €88,905 | +€44,232 | +99.0% |
| Profit (loss) for the period before taxes | 9903 | -€5,190,824 | -€4,055,753 | +€1.1m | +21.9% |
| Income taxes | 67/77 | -€429 | €188 | +€618 | |
| Profit (loss) for the period | 9904 | -€5,190,394 | -€4,055,942 | +€1.1m | +21.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,190,394 | -€4,055,942 | +€1.1m | +21.9% |
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 18 October 2026 via checked.be.