VAWA: 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.
VAWA
Largest movements
- Receivables within one year +€5,453
up €5,453 (+28.9%), from €18,846 to €24,299
of which Other amounts receivable: +€4,178
- Cash +€2,542
up €2,542 (+209.3%), from €1,214 to €3,757
mainly Net result for the year (+€5,019) and Tax, wage and social debts (+€2,835)
- Reserves +€4,000
new in 2025: €4,000
- Tax, wage and social debts +€2,835
up €2,835 (+206.5%), from €1,373 to €4,208
- Profit (loss) carried forward +€1,019
up €1,019 (+70.9%), from €1,437 to €2,456
- Gross operating margin +€2,235
up €2,235 (+36.4%), from €6,147 to €8,382
- Taxes +€1,286
up €1,286 (+107.2%), from €1,200 to €2,486
- Financial income +€178
up €178 (+18.8%), from €947 to €1,125
- Depreciation +€127
up €127 (+16.6%), from €763 to €890
- Other operating charges +€118
up €118 (+14.3%), from €824 to €942
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 | €22,107 | €30,143 | +€8,036 | +36.4% |
| Fixed assets | 21/28 | €1,897 | €2,088 | +€191 | +10.1% |
| Tangible fixed assets | 22/27 | €1,897 | €2,088 | +€191 | +10.1% |
| Furniture and vehicles | 24 | €1,897 | €2,088 | +€191 | +10.1% |
| Current assets | 29/58 | €20,210 | €28,055 | +€7,845 | +38.8% |
| Amounts receivable within one year | 40/41 | €18,846 | €24,299 | +€5,453 | +28.9% |
| Trade receivables | 40 | - | €1,275 | +€1,275 | |
| Other amounts receivable | 41 | €18,846 | €23,024 | +€4,178 | +22.2% |
| Cash at bank and in hand | 54/58 | €1,214 | €3,757 | +€2,542 | +209.3% |
| Deferred charges and accrued income | 490/1 | €150 | - | -€150 | |
| Total equity and liabilities | 10/49 | €22,107 | €30,143 | +€8,036 | +36.4% |
| Equity | 10/15 | €20,037 | €25,056 | +€5,019 | +25.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | - | €4,000 | +€4,000 | |
| Distributable reserves | 133 | - | €4,000 | +€4,000 | |
| Profit (loss) carried forward | 14 | €1,437 | €2,456 | +€1,019 | +70.9% |
| Amounts payable | 17/49 | €2,069 | €5,087 | +€3,017 | +145.8% |
| Amounts payable within one year | 42/48 | €2,069 | €5,087 | +€3,017 | +145.8% |
| Trade debts | 44 | €697 | €878 | +€182 | +26.1% |
| Suppliers | 440/4 | €697 | €878 | +€182 | +26.1% |
| Taxes, remuneration and social security | 45 | €1,373 | €4,208 | +€2,835 | +206.5% |
| Taxes | 450/3 | €1,373 | €4,208 | +€2,835 | +206.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €763 | €890 | +€127 | +16.6% |
| Other operating charges | 640/8 | €824 | €942 | +€118 | +14.3% |
| Gross operating margin | 9900 | €6,147 | €8,382 | +€2,235 | +36.4% |
| Operating profit (loss) | 9901 | €4,560 | €6,551 | +€1,990 | +43.6% |
| Financial income | 75/76B | €947 | €1,125 | +€178 | +18.8% |
| Recurring financial income | 75 | €947 | €1,125 | +€178 | +18.8% |
| Financial charges | 65/66B | €153 | €170 | +€17 | +11.1% |
| Recurring financial charges | 65 | €153 | €170 | +€17 | +11.1% |
| Profit (loss) for the period before taxes | 9903 | €5,354 | €7,505 | +€2,152 | +40.2% |
| Income taxes | 67/77 | €1,200 | €2,486 | +€1,286 | +107.2% |
| Profit (loss) for the period | 9904 | €4,154 | €5,019 | +€865 | +20.8% |
| Profit (loss) for the period to be appropriated | 9905 | €4,154 | €5,019 | +€865 | +20.8% |
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 8 October 2026 via checked.be.