Vega Systems Management: what changed
Vega Systems Management
Largest movements
- Current investments -€30,000
down €30,000 (-100%), from €30,000 to €0
- Cash +€29,099
up €29,099 (+38.8%), from €74,936 to €104,034
mainly Current investments (+€30,000) and Net result for the year (+€22,264)
- Receivables within one year +€10,478
up €10,478 (+63.8%), from €16,433 to €26,911
of which Trade receivables: +€10,464
- Tangible fixed assets -€4,423
down €4,423 (-8.5%), from €52,274 to €47,851
of which Land and buildings: -€5,772
- Reserves +€22,250
up €22,250 (+18.3%), from €121,299 to €143,549
of which Distributable reserves: +€22,250
- Tax, wage and social debts -€9,608
down €9,608 (-68.2%), from €14,083 to €4,475
of which Taxes: -€9,608
- Trade debts -€6,064
down €6,064 (-59.7%), from €10,165 to €4,101
- Gross operating margin +€3,338
up €3,338 (+7.9%), from €42,185 to €45,522
- Financial income +€1,635
up €1,635 (+629%), from €260 to €1,895
- Taxes +€1,516
up €1,516 (+17.9%), from €8,465 to €9,981
- Depreciation -€791
down €791 (-6.3%), from €12,573 to €11,782
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €176,031 | €182,119 | +€6,088 | +3.5% |
| Fixed assets | 21/28 | €52,394 | €47,971 | -€4,423 | -8.4% |
| Tangible fixed assets | 22/27 | €52,274 | €47,851 | -€4,423 | -8.5% |
| Land and buildings | 22 | €37,074 | €31,301 | -€5,772 | -15.6% |
| Plant, machinery and equipment | 23 | €11,639 | €12,545 | +€907 | +7.8% |
| Furniture and vehicles | 24 | €3,561 | €4,004 | +€443 | +12.4% |
| Financial fixed assets | 28 | €120 | €120 | = | 0.0% |
| Current assets | 29/58 | €123,638 | €134,149 | +€10,511 | +8.5% |
| Amounts receivable within one year | 40/41 | €16,433 | €26,911 | +€10,478 | +63.8% |
| Trade receivables | 40 | €16,433 | €26,896 | +€10,464 | +63.7% |
| Other amounts receivable | 41 | - | €15 | +€15 | |
| Current investments | 50/53 | €30,000 | €0 | -€30,000 | -100% |
| Cash at bank and in hand | 54/58 | €74,936 | €104,034 | +€29,099 | +38.8% |
| Deferred charges and accrued income | 490/1 | €2,269 | €3,203 | +€934 | +41.2% |
| Total equity and liabilities | 10/49 | €176,031 | €182,119 | +€6,088 | +3.5% |
| Equity | 10/15 | €149,956 | €172,220 | +€22,264 | +14.8% |
| Contributions | 10/11 | €6,800 | €6,800 | = | 0.0% |
| Reserves | 13 | €121,299 | €143,549 | +€22,250 | +18.3% |
| Tax-exempt reserves | 132 | €22,480 | €22,480 | = | 0.0% |
| Distributable reserves | 133 | €98,819 | €121,069 | +€22,250 | +22.5% |
| Profit (loss) carried forward | 14 | €21,857 | €21,871 | +€14 | +0.1% |
| Amounts payable | 17/49 | €26,075 | €9,899 | -€16,176 | -62.0% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €25,785 | €9,899 | -€15,885 | -61.6% |
| Current portion of amounts payable after more than one year | 42 | €1,446 | €0 | -€1,446 | -100% |
| Trade debts | 44 | €10,165 | €4,101 | -€6,064 | -59.7% |
| Suppliers | 440/4 | €10,165 | €4,101 | -€6,064 | -59.7% |
| Taxes, remuneration and social security | 45 | €14,083 | €4,475 | -€9,608 | -68.2% |
| Taxes | 450/3 | €12,133 | €2,525 | -€9,608 | -79.2% |
| Remuneration and social security | 454/9 | €1,950 | €1,950 | = | 0.0% |
| Other amounts payable | 47/48 | €91 | €1,323 | +€1,233 | +1,356% |
| Accrued charges and deferred income | 492/3 | €291 | €0 | -€291 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,573 | €11,782 | -€791 | -6.3% |
| Other operating charges | 640/8 | €2,649 | €2,358 | -€291 | -11.0% |
| Gross operating margin | 9900 | €42,185 | €45,522 | +€3,338 | +7.9% |
| Operating profit (loss) | 9901 | €26,962 | €31,382 | +€4,420 | +16.4% |
| Financial income | 75/76B | €260 | €1,895 | +€1,635 | +629% |
| Recurring financial income | 75 | €260 | €1,895 | +€1,635 | +629% |
| Financial charges | 65/66B | €1,455 | €1,032 | -€423 | -29.1% |
| Recurring financial charges | 65 | €1,455 | €1,032 | -€423 | -29.1% |
| Profit (loss) for the period before taxes | 9903 | €25,767 | €32,245 | +€6,478 | +25.1% |
| Income taxes | 67/77 | €8,465 | €9,981 | +€1,516 | +17.9% |
| Profit (loss) for the period | 9904 | €17,302 | €22,264 | +€4,962 | +28.7% |
| Profit (loss) for the period to be appropriated | 9905 | €17,302 | €22,264 | +€4,962 | +28.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.