VAZAPEVO: 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.
VAZAPEVO
Largest movements
- Cash +€21,160
up €21,160 (+59.7%), from €35,471 to €56,632
mainly Net result for the year (+€23,640) and Trade debts (+€1,363)
- Profit (loss) carried forward +€23,640
up €23,640 (+57.8%), from €40,908 to €64,548
- Tax, wage and social debts -€4,088
down €4,088 (-32.6%), from €12,528 to €8,439
- Trade debts +€1,363
up €1,363 (+2,451%), from €56 to €1,419
- Other debts +€1,092
up €1,092 (+77.9%), from €1,401 to €2,493
- Gross operating margin +€3,822
up €3,822 (+14.2%), from €26,904 to €30,726
- Taxes +€442
up €442 (+8.0%), from €5,546 to €5,987
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 | €55,892 | €77,899 | +€22,007 | +39.4% |
| Fixed assets | 21/28 | €13,221 | €13,086 | -€135 | -1.0% |
| Tangible fixed assets | 22/27 | €221 | €86 | -€135 | -61.0% |
| Furniture and vehicles | 24 | €221 | €86 | -€135 | -61.0% |
| Financial fixed assets | 28 | €13,000 | €13,000 | = | 0.0% |
| Current assets | 29/58 | €42,671 | €64,813 | +€22,142 | +51.9% |
| Amounts receivable within one year | 40/41 | €6,937 | €7,709 | +€772 | +11.1% |
| Trade receivables | 40 | €6,937 | €7,697 | +€759 | +10.9% |
| Other amounts receivable | 41 | - | €13 | +€13 | |
| Cash at bank and in hand | 54/58 | €35,471 | €56,632 | +€21,160 | +59.7% |
| Deferred charges and accrued income | 490/1 | €263 | €472 | +€210 | +79.8% |
| Total equity and liabilities | 10/49 | €55,892 | €77,899 | +€22,007 | +39.4% |
| Equity | 10/15 | €41,908 | €65,548 | +€23,640 | +56.4% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €40,908 | €64,548 | +€23,640 | +57.8% |
| Amounts payable | 17/49 | €13,984 | €12,351 | -€1,633 | -11.7% |
| Amounts payable within one year | 42/48 | €13,984 | €12,351 | -€1,633 | -11.7% |
| Trade debts | 44 | €56 | €1,419 | +€1,363 | +2,451% |
| Suppliers | 440/4 | €56 | €1,419 | +€1,363 | +2,451% |
| Taxes, remuneration and social security | 45 | €12,528 | €8,439 | -€4,088 | -32.6% |
| Taxes | 450/3 | €12,528 | €8,439 | -€4,088 | -32.6% |
| Other amounts payable | 47/48 | €1,401 | €2,493 | +€1,092 | +77.9% |
| Remuneration, social security and pensions | 62 | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €135 | €135 | = | 0.0% |
| Other operating charges | 640/8 | €559 | €718 | +€159 | +28.5% |
| Gross operating margin | 9900 | €26,904 | €30,726 | +€3,822 | +14.2% |
| Operating profit (loss) | 9901 | €26,211 | €29,873 | +€3,662 | +14.0% |
| Financial charges | 65/66B | €142 | €246 | +€104 | +72.9% |
| Recurring financial charges | 65 | €142 | €246 | +€104 | +72.9% |
| Profit (loss) for the period before taxes | 9903 | €26,069 | €29,628 | +€3,559 | +13.7% |
| Income taxes | 67/77 | €5,546 | €5,987 | +€442 | +8.0% |
| Profit (loss) for the period | 9904 | €20,523 | €23,640 | +€3,117 | +15.2% |
| Profit (loss) for the period to be appropriated | 9905 | €20,523 | €23,640 | +€3,117 | +15.2% |
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 21 October 2026 via checked.be.