VECTIGALIA: 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.
VECTIGALIA
Largest movements
- Tangible fixed assets -€13,114
down €13,114 (-8.0%), from €164,618 to €151,503
of which Land and buildings: -€6,925
- Cash -€2,981
down €2,981 (-9.3%), from €32,125 to €29,144
mainly Contributions, distributions and other (-€21,800) and Debts after one year (-€10,754)
- Receivables within one year +€2,451
up €2,451 (+35.3%), from €6,937 to €9,388
of which Trade receivables: +€2,942
- Reserves -€13,997
down €13,997 (-16.0%), from €87,685 to €73,688
- Debts after one year -€10,754
down €10,754 (-10.2%), from €105,884 to €95,130
- Other debts +€10,555
up €10,555 (+191%), from €5,524 to €16,079
- Gross operating margin +€4,432
up €4,432 (+16.9%), from €26,215 to €30,647
- Financial income -€3,111
down €3,111 (-74.9%), from €4,152 to €1,041
- Taxes +€1,354
up €1,354 (+40.8%), from €3,320 to €4,674
- Financial charges -€385
down €385 (-8.0%), from €4,815 to €4,430
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 | €233,680 | €220,035 | -€13,644 | -5.8% |
| Fixed assets | 21/28 | €164,618 | €151,503 | -€13,114 | -8.0% |
| Tangible fixed assets | 22/27 | €164,618 | €151,503 | -€13,114 | -8.0% |
| Land and buildings | 22 | €149,994 | €143,070 | -€6,925 | -4.6% |
| Plant, machinery and equipment | 23 | €608 | €362 | -€246 | -40.5% |
| Furniture and vehicles | 24 | €14,016 | €8,072 | -€5,944 | -42.4% |
| Current assets | 29/58 | €69,062 | €68,532 | -€530 | -0.8% |
| Amounts receivable within one year | 40/41 | €6,937 | €9,388 | +€2,451 | +35.3% |
| Trade receivables | 40 | €5,840 | €8,782 | +€2,942 | +50.4% |
| Other amounts receivable | 41 | €1,097 | €607 | -€490 | -44.7% |
| Current investments | 50/53 | €30,000 | €30,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €32,125 | €29,144 | -€2,981 | -9.3% |
| Total equity and liabilities | 10/49 | €233,680 | €220,035 | -€13,644 | -5.8% |
| Equity | 10/15 | €106,235 | €92,238 | -€13,997 | -13.2% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €87,685 | €73,688 | -€13,997 | -16.0% |
| Distributable reserves | 133 | €87,685 | €73,688 | -€13,997 | -16.0% |
| Amounts payable | 17/49 | €127,445 | €127,797 | +€352 | +0.3% |
| Amounts payable after more than one year | 17 | €105,884 | €95,130 | -€10,754 | -10.2% |
| Financial debts | 170/4 | €105,884 | €95,130 | -€10,754 | -10.2% |
| Amounts payable within one year | 42/48 | €21,173 | €32,267 | +€11,094 | +52.4% |
| Current portion of amounts payable after more than one year | 42 | €10,353 | €10,754 | +€402 | +3.9% |
| Trade debts | 44 | €384 | €75 | -€309 | -80.5% |
| Suppliers | 440/4 | €384 | €75 | -€309 | -80.5% |
| Taxes, remuneration and social security | 45 | €4,912 | €5,359 | +€446 | +9.1% |
| Taxes | 450/3 | €4,912 | €5,359 | +€446 | +9.1% |
| Other amounts payable | 47/48 | €5,524 | €16,079 | +€10,555 | +191% |
| Accrued charges and deferred income | 492/3 | €387 | €400 | +€12 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,218 | €13,114 | -€103 | -0.8% |
| Other operating charges | 640/8 | €1,672 | €1,665 | -€7 | -0.4% |
| Gross operating margin | 9900 | €26,215 | €30,647 | +€4,432 | +16.9% |
| Operating profit (loss) | 9901 | €11,326 | €15,867 | +€4,541 | +40.1% |
| Financial income | 75/76B | €4,152 | €1,041 | -€3,111 | -74.9% |
| Recurring financial income | 75 | €4,152 | €1,041 | -€3,111 | -74.9% |
| Financial charges | 65/66B | €4,815 | €4,430 | -€385 | -8.0% |
| Recurring financial charges | 65 | €4,815 | €4,430 | -€385 | -8.0% |
| Profit (loss) for the period before taxes | 9903 | €10,663 | €12,477 | +€1,815 | +17.0% |
| Income taxes | 67/77 | €3,320 | €4,674 | +€1,354 | +40.8% |
| Profit (loss) for the period | 9904 | €7,343 | €7,803 | +€460 | +6.3% |
| Profit (loss) for the period to be appropriated | 9905 | €7,343 | €7,803 | +€460 | +6.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.