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
- Receivables within one year +€13,093
up €13,093 (+1,004%), from €1,304 to €14,397
of which Trade receivables: +€11,542
- Cash -€4,129
down €4,129 (-93.6%), from €4,410 to €280
mainly Other debts (-€14,028) and Receivables within one year (-€13,093)
- Tangible fixed assets -€1,780
down €1,780 (-1.5%), from €118,911 to €117,131
of which Land and buildings: -€7,272
- Reserves +€15,536
up €15,536 (+157%), from €9,924 to €25,460
of which Distributable reserves: +€15,536
- Other debts -€14,028
down €14,028 (-29.0%), from €48,322 to €34,294
- Profit (loss) carried forward +€3,992
up €3,992, from -€3,992 to €0
- Tax, wage and social debts +€3,551
up €3,551 (+431%), from €823 to €4,374
- Trade debts -€2,056
down €2,056 (-16.4%), from €12,537 to €10,481
- Gross operating margin +€14,534
up €14,534 (+85.2%), from €17,066 to €31,599
- Taxes +€2,831
up €2,831, from -€1,191 to €1,639
- Depreciation +€738
up €738 (+9.7%), from €7,620 to €8,358
- Other operating charges +€333
up €333 (+23.3%), from €1,432 to €1,765
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 | €126,377 | €132,835 | +€6,458 | +5.1% |
| Fixed assets | 21/28 | €118,911 | €117,131 | -€1,780 | -1.5% |
| Tangible fixed assets | 22/27 | €118,911 | €117,131 | -€1,780 | -1.5% |
| Land and buildings | 22 | €118,625 | €111,353 | -€7,272 | -6.1% |
| Plant, machinery and equipment | 23 | €287 | €0 | -€287 | -100% |
| Furniture and vehicles | 24 | - | €5,779 | +€5,779 | |
| Current assets | 29/58 | €7,465 | €15,703 | +€8,238 | +110% |
| Amounts receivable within one year | 40/41 | €1,304 | €14,397 | +€13,093 | +1,004% |
| Trade receivables | 40 | €1,238 | €12,780 | +€11,542 | +932% |
| Other amounts receivable | 41 | €65 | €1,617 | +€1,551 | +2,379% |
| Cash at bank and in hand | 54/58 | €4,410 | €280 | -€4,129 | -93.6% |
| Deferred charges and accrued income | 490/1 | €1,752 | €1,026 | -€726 | -41.4% |
| Total equity and liabilities | 10/49 | €126,377 | €132,835 | +€6,458 | +5.1% |
| Equity | 10/15 | €55,932 | €75,460 | +€19,528 | +34.9% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €9,924 | €25,460 | +€15,536 | +157% |
| Non-distributable reserves | 130/1 | €5,000 | €5,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,000 | €5,000 | = | 0.0% |
| Distributable reserves | 133 | €4,924 | €20,460 | +€15,536 | +316% |
| Profit (loss) carried forward | 14 | -€3,992 | €0 | +€3,992 | |
| Amounts payable | 17/49 | €70,445 | €57,374 | -€13,070 | -18.6% |
| Amounts payable after more than one year | 17 | €8,225 | €8,225 | = | 0.0% |
| Financial debts | 170/4 | €8,225 | €8,225 | = | 0.0% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €61,682 | €49,149 | -€12,533 | -20.3% |
| Trade debts | 44 | €12,537 | €10,481 | -€2,056 | -16.4% |
| Suppliers | 440/4 | €12,537 | €10,481 | -€2,056 | -16.4% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €823 | €4,374 | +€3,551 | +431% |
| Taxes | 450/3 | €823 | €4,374 | +€3,551 | +431% |
| Other amounts payable | 47/48 | €48,322 | €34,294 | -€14,028 | -29.0% |
| Accrued charges and deferred income | 492/3 | €537 | €0 | -€537 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,620 | €8,358 | +€738 | +9.7% |
| Other operating charges | 640/8 | €1,432 | €1,765 | +€333 | +23.3% |
| Gross operating margin | 9900 | €17,066 | €31,599 | +€14,534 | +85.2% |
| Operating profit (loss) | 9901 | €8,014 | €21,477 | +€13,463 | +168% |
| Financial income | 75/76B | €0 | €0 | -€0 | -28.6% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -28.6% |
| Financial charges | 65/66B | €345 | €309 | -€36 | -10.4% |
| Recurring financial charges | 65 | €345 | €309 | -€36 | -10.4% |
| Profit (loss) for the period before taxes | 9903 | €7,669 | €21,168 | +€13,498 | +176% |
| Income taxes | 67/77 | -€1,191 | €1,639 | +€2,831 | |
| Profit (loss) for the period | 9904 | €8,860 | €19,528 | +€10,668 | +120% |
| Profit (loss) for the period to be appropriated | 9905 | €8,860 | €19,528 | +€10,668 | +120% |
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 17 October 2026 via checked.be.