VAW.BE: 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.
VAW.BE
Largest movements
- Cash +€131,763
up €131,763 (+139%), from €94,592 to €226,355
mainly Net result for the year (+€179,942) and Other debts (+€114,130)
- Tangible fixed assets +€35,117
up €35,117 (+86.6%), from €40,565 to €75,682
of which Furniture and vehicles: +€39,198
- Other debts +€114,130
up €114,130 (+300%), from €38,020 to €152,150
- Tax, wage and social debts +€56,184
up €56,184 (+1,112%), from €5,052 to €61,236
- Trade debts -€6,289
down €6,289 (-84.4%), from €7,454 to €1,165
- Gross operating margin +€207,284
up €207,284 (+445%), from €46,584 to €253,868
- Taxes +€54,656
up €54,656 (+634%), from €8,628 to €63,284
- Depreciation -€3,910
down €3,910 (-28.6%), from €13,692 to €9,782
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 | €145,895 | €310,863 | +€164,967 | +113% |
| Fixed assets | 21/28 | €41,065 | €76,182 | +€35,117 | +85.5% |
| Tangible fixed assets | 22/27 | €40,565 | €75,682 | +€35,117 | +86.6% |
| Land and buildings | 22 | €17,606 | €15,819 | -€1,786 | -10.1% |
| Plant, machinery and equipment | 23 | €6,670 | €4,375 | -€2,295 | -34.4% |
| Furniture and vehicles | 24 | €16,290 | €55,487 | +€39,198 | +241% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €104,830 | €234,681 | +€129,851 | +124% |
| Amounts receivable within one year | 40/41 | €9,222 | €8,326 | -€896 | -9.7% |
| Trade receivables | 40 | €8,165 | €8,326 | +€161 | +2.0% |
| Other amounts receivable | 41 | €1,057 | - | -€1,057 | |
| Cash at bank and in hand | 54/58 | €94,592 | €226,355 | +€131,763 | +139% |
| Deferred charges and accrued income | 490/1 | €1,016 | - | -€1,016 | |
| Total equity and liabilities | 10/49 | €145,895 | €310,863 | +€164,967 | +113% |
| Equity | 10/15 | €95,370 | €96,312 | +€942 | +1.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €73,000 | €73,000 | = | 0.0% |
| Distributable reserves | 133 | €73,000 | €73,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,170 | €17,112 | +€942 | +5.8% |
| Amounts payable | 17/49 | €50,526 | €214,551 | +€164,025 | +325% |
| Amounts payable within one year | 42/48 | €50,526 | €214,551 | +€164,025 | +325% |
| Trade debts | 44 | €7,454 | €1,165 | -€6,289 | -84.4% |
| Suppliers | 440/4 | €7,454 | €1,165 | -€6,289 | -84.4% |
| Taxes, remuneration and social security | 45 | €5,052 | €61,236 | +€56,184 | +1,112% |
| Taxes | 450/3 | €5,052 | €61,236 | +€56,184 | +1,112% |
| Other amounts payable | 47/48 | €38,020 | €152,150 | +€114,130 | +300% |
| Non-recurring operating income | 76A | - | €7,012 | +€7,012 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,692 | €9,782 | -€3,910 | -28.6% |
| Other operating charges | 640/8 | €1,129 | €591 | -€538 | -47.7% |
| Gross operating margin | 9900 | €46,584 | €253,868 | +€207,284 | +445% |
| Operating profit (loss) | 9901 | €31,763 | €243,495 | +€211,733 | +667% |
| Financial income | 75/76B | €101 | €15 | -€86 | -85.6% |
| Recurring financial income | 75 | €101 | €15 | -€86 | -85.6% |
| Financial charges | 65/66B | €252 | €284 | +€32 | +12.8% |
| Recurring financial charges | 65 | €252 | €284 | +€32 | +12.8% |
| Profit (loss) for the period before taxes | 9903 | €31,612 | €243,226 | +€211,614 | +669% |
| Income taxes | 67/77 | €8,628 | €63,284 | +€54,656 | +634% |
| Profit (loss) for the period | 9904 | €22,984 | €179,942 | +€156,958 | +683% |
| Profit (loss) for the period to be appropriated | 9905 | €22,984 | €179,942 | +€156,958 | +683% |
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 26 October 2026 via checked.be.