VAYO: 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.
VAYO
Largest movements
- Receivables within one year +€25,263
up €25,263 (+47.1%), from €53,653 to €78,917
of which Trade receivables: +€25,263
- Tangible fixed assets -€10,920
down €10,920 (-23.6%), from €46,368 to €35,448
of which Furniture and vehicles: -€9,213
- Current investments +€7,457
up €7,457 (+25.5%), from €29,235 to €36,692
- Intangible fixed assets -€4,083
down €4,083 (-22.2%), from €18,371 to €14,289
- Cash -€3,411
down €3,411 (-15.4%), from €22,125 to €18,714
mainly Trade debts (-€36,131) and Contributions, distributions and other (-€35,976)
- Reserves -€43,567
down €43,567 (-42.2%), from €103,136 to €59,569
- Trade debts -€36,131
down €36,131 (-92.3%), from €39,139 to €3,008
- Other debts +€34,396
up €34,396 (+2178.1%), from €1,579 to €35,976
- Short-term financial debts +€29,500
up €29,500, from €0 to €29,500
- Debts after one year +€25,475
up €25,475 (+2128.3%), from €1,197 to €26,672
- Gross operating margin -€99,181
down €99,181 (-88.2%), from €112,405 to €13,224
- Depreciation +€11,220
up €11,220 (+296.6%), from €3,783 to €15,003
- Financial charges +€4,091
up €4,091 (+534.0%), from €766 to €4,857
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 | €171,962 | €187,800 | +€15,838 | +9.2% |
| Fixed assets | 21/28 | €64,739 | €50,436 | -€14,303 | -22.1% |
| Intangible fixed assets | 21 | €18,371 | €14,289 | -€4,083 | -22.2% |
| Tangible fixed assets | 22/27 | €46,368 | €35,448 | -€10,920 | -23.6% |
| Plant, machinery and equipment | 23 | €3,058 | €1,352 | -€1,707 | -55.8% |
| Furniture and vehicles | 24 | €43,309 | €34,096 | -€9,213 | -21.3% |
| Financial fixed assets | 28 | €0 | €700 | +€700 | |
| Current assets | 29/58 | €107,223 | €137,364 | +€30,141 | +28.1% |
| Amounts receivable within one year | 40/41 | €53,653 | €78,917 | +€25,263 | +47.1% |
| Trade receivables | 40 | €48,653 | €73,917 | +€25,263 | +51.9% |
| Other amounts receivable | 41 | €5,000 | €5,000 | = | 0.0% |
| Current investments | 50/53 | €29,235 | €36,692 | +€7,457 | +25.5% |
| Cash at bank and in hand | 54/58 | €22,125 | €18,714 | -€3,411 | -15.4% |
| Deferred charges and accrued income | 490/1 | €2,209 | €3,041 | +€832 | +37.6% |
| Total equity and liabilities | 10/49 | €171,962 | €187,800 | +€15,838 | +9.2% |
| Equity | 10/15 | €121,736 | €78,169 | -€43,567 | -35.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €103,136 | €59,569 | -€43,567 | -42.2% |
| Distributable reserves | 133 | €103,136 | €59,569 | -€43,567 | -42.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €50,226 | €109,631 | +€59,406 | +118.3% |
| Amounts payable after more than one year | 17 | €1,197 | €26,672 | +€25,475 | +2128.3% |
| Financial debts | 170/4 | €1,197 | €26,672 | +€25,475 | +2128.3% |
| Amounts payable within one year | 42/48 | €49,029 | €82,959 | +€33,930 | +69.2% |
| Current portion of amounts payable after more than one year | 42 | €2,524 | €9,841 | +€7,316 | +289.8% |
| Financial debts | 43 | €0 | €29,500 | +€29,500 | |
| Credit institutions | 430/8 | €0 | €29,500 | +€29,500 | |
| Trade debts | 44 | €39,139 | €3,008 | -€36,131 | -92.3% |
| Suppliers | 440/4 | €39,139 | €3,008 | -€36,131 | -92.3% |
| Taxes, remuneration and social security | 45 | €5,786 | €4,635 | -€1,151 | -19.9% |
| Taxes | 450/3 | €1,186 | €4,635 | +€3,449 | +290.7% |
| Remuneration and social security | 454/9 | €4,600 | €0 | -€4,600 | -100.0% |
| Other amounts payable | 47/48 | €1,579 | €35,976 | +€34,396 | +2178.1% |
| Non-recurring operating income | 76A | €110,206 | €0 | -€110,206 | -100.0% |
| Remuneration, social security and pensions | 62 | €28 | €0 | -€28 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,783 | €15,003 | +€11,220 | +296.6% |
| Other operating charges | 640/8 | €801 | €1,034 | +€232 | +29.0% |
| Gross operating margin | 9900 | €112,405 | €13,224 | -€99,181 | -88.2% |
| Operating profit (loss) | 9901 | €107,793 | -€2,812 | -€110,605 | |
| Financial income | 75/76B | €135 | €368 | +€233 | +173.2% |
| Recurring financial income | 75 | €135 | €368 | +€233 | +173.2% |
| Financial charges | 65/66B | €766 | €4,857 | +€4,091 | +534.0% |
| Recurring financial charges | 65 | €766 | €4,857 | +€4,091 | +534.0% |
| Profit (loss) for the period before taxes | 9903 | €107,161 | -€7,302 | -€114,463 | |
| Income taxes | 67/77 | €81 | €290 | +€209 | +257.9% |
| Profit (loss) for the period | 9904 | €107,080 | -€7,592 | -€114,672 | |
| Profit (loss) for the period to be appropriated | 9905 | €107,080 | -€7,592 | -€114,672 |
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 9 October 2026 via checked.be.