VEGA: 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.
VEGA
Largest movements
- Cash -€35,811
down €35,811 (-33.2%), from €107,904 to €72,093
mainly Debts within one year (-€43,608) and Receivables within one year (-€19,856)
- Receivables within one year +€19,856
up €19,856 (+102.0%), from €19,465 to €39,321
of which Other amounts receivable: +€22,331
- Tangible fixed assets -€7,512
down €7,512 (-45.7%), from €16,442 to €8,931
of which Furniture and vehicles: -€4,538
- Debts within one year -€43,608
down €43,608 (-17.0%), from €256,582 to €212,975
of which Tax, wage and social debts: -€37,703
- Profit (loss) carried forward +€21,168
up €21,168 (+19.9%), from -€106,136 to -€84,967
- Staff costs -€18,172
down €18,172 (-1.2%), from €1.5m to €1.5m
- Gross operating margin +€15,781
up €15,781 (+1.1%), from €1.5m to €1.5m
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 | €152,510 | €129,353 | -€23,158 | -15.2% |
| Fixed assets | 21/28 | €17,442 | €9,931 | -€7,512 | -43.1% |
| Tangible fixed assets | 22/27 | €16,442 | €8,931 | -€7,512 | -45.7% |
| Plant, machinery and equipment | 23 | €8,648 | €5,674 | -€2,974 | -34.4% |
| Furniture and vehicles | 24 | €7,794 | €3,256 | -€4,538 | -58.2% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €135,068 | €119,422 | -€15,646 | -11.6% |
| Amounts receivable within one year | 40/41 | €19,465 | €39,321 | +€19,856 | +102.0% |
| Trade receivables | 40 | €3,964 | €1,489 | -€2,475 | -62.4% |
| Other amounts receivable | 41 | €15,501 | €37,832 | +€22,331 | +144.1% |
| Cash at bank and in hand | 54/58 | €107,904 | €72,093 | -€35,811 | -33.2% |
| Deferred charges and accrued income | 490/1 | €7,698 | €8,008 | +€310 | +4.0% |
| Total equity and liabilities | 10/49 | €152,510 | €129,353 | -€23,158 | -15.2% |
| Equity | 10/15 | -€106,136 | -€84,967 | +€21,168 | +19.9% |
| Profit (loss) carried forward | 14 | -€106,136 | -€84,967 | +€21,168 | +19.9% |
| Amounts payable | 17/49 | €258,646 | €214,320 | -€44,326 | -17.1% |
| Amounts payable within one year | 42/48 | €256,582 | €212,975 | -€43,608 | -17.0% |
| Trade debts | 44 | €7,521 | €8,547 | +€1,027 | +13.6% |
| Suppliers | 440/4 | €7,521 | €8,547 | +€1,027 | +13.6% |
| Taxes, remuneration and social security | 45 | €242,130 | €204,427 | -€37,703 | -15.6% |
| Taxes | 450/3 | €23,028 | €30,474 | +€7,445 | +32.3% |
| Remuneration and social security | 454/9 | €219,102 | €173,954 | -€45,149 | -20.6% |
| Accrued charges and deferred income | 492/3 | €2,064 | €1,345 | -€719 | -34.8% |
| Remuneration, social security and pensions | 62 | €1,475,285 | €1,457,113 | -€18,172 | -1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,512 | €7,512 | +€1,000 | +15.4% |
| Other operating charges | 640/8 | €528 | €539 | +€11 | +2.0% |
| Gross operating margin | 9900 | €1,471,243 | €1,487,023 | +€15,781 | +1.1% |
| Operating profit (loss) | 9901 | -€11,083 | €21,860 | +€32,943 | |
| Financial charges | 65/66B | €913 | €691 | -€222 | -24.3% |
| Recurring financial charges | 65 | €913 | €691 | -€222 | -24.3% |
| Profit (loss) for the period before taxes | 9903 | -€11,996 | €21,168 | +€33,164 | |
| Profit (loss) for the period | 9904 | -€11,996 | €21,168 | +€33,164 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,996 | €21,168 | +€33,164 |
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 11 October 2026 via checked.be.