VEGA TRADING: 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 TRADING
Largest movements
- Current investments +€267,469
up €267,469 (+33.9%), from €788,605 to €1.1m
- Receivables within one year +€111,287
up €111,287 (+216%), from €51,545 to €162,832
of which Trade receivables: +€102,773
- Cash -€108,357
down €108,357 (-70.8%), from €153,146 to €44,789
mainly Current investments (-€267,469) and Trade debts (-€114,479)
- Tangible fixed assets -€18,288
down €18,288 (-22.8%), from €80,169 to €61,881
of which Furniture and vehicles: -€16,828
- Reserves +€345,635
up €345,635 (+37.5%), from €921,831 to €1.3m
- Trade debts -€114,479
down €114,479 (-88.0%), from €130,112 to €15,633
- Tax, wage and social debts +€24,149
up €24,149 (+157%), from €15,401 to €39,550
of which Taxes: +€17,696
- Gross operating margin +€364,408
up €364,408 (+121%), from €300,467 to €664,875
- Taxes +€100,510
up €100,510 (+140%), from €72,039 to €172,549
- Staff costs +€51,352
up €51,352 (+79.3%), from €64,761 to €116,114
- Depreciation +€8,129
up €8,129 (+80.0%), from €10,159 to €18,288
- Financial charges +€8,100
up €8,100 (+208%), from €3,901 to €12,001
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 | €1,086,314 | €1,341,416 | +€255,101 | +23.5% |
| Fixed assets | 21/28 | €80,169 | €61,881 | -€18,288 | -22.8% |
| Tangible fixed assets | 22/27 | €80,169 | €61,881 | -€18,288 | -22.8% |
| Plant, machinery and equipment | 23 | €5,465 | €4,304 | -€1,161 | -21.2% |
| Furniture and vehicles | 24 | €74,405 | €57,577 | -€16,828 | -22.6% |
| Other tangible fixed assets | 26 | €300 | €0 | -€300 | -100% |
| Current assets | 29/58 | €1,006,145 | €1,279,535 | +€273,390 | +27.2% |
| Stocks and contracts in progress | 3 | €650 | €650 | = | 0.0% |
| Stocks | 30/36 | €650 | €650 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €51,545 | €162,832 | +€111,287 | +216% |
| Trade receivables | 40 | €40,037 | €142,810 | +€102,773 | +257% |
| Other amounts receivable | 41 | €11,508 | €20,022 | +€8,513 | +74.0% |
| Current investments | 50/53 | €788,605 | €1,056,074 | +€267,469 | +33.9% |
| Cash at bank and in hand | 54/58 | €153,146 | €44,789 | -€108,357 | -70.8% |
| Deferred charges and accrued income | 490/1 | €12,199 | €15,190 | +€2,991 | +24.5% |
| Total equity and liabilities | 10/49 | €1,086,314 | €1,341,416 | +€255,101 | +23.5% |
| Equity | 10/15 | €940,423 | €1,286,058 | +€345,635 | +36.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €921,831 | €1,267,466 | +€345,635 | +37.5% |
| Distributable reserves | 133 | €921,831 | €1,267,466 | +€345,635 | +37.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €145,892 | €55,358 | -€90,534 | -62.1% |
| Amounts payable within one year | 42/48 | €145,892 | €55,358 | -€90,534 | -62.1% |
| Financial debts | 43 | €378 | €175 | -€204 | -53.9% |
| Credit institutions | 430/8 | €378 | €175 | -€204 | -53.9% |
| Trade debts | 44 | €130,112 | €15,633 | -€114,479 | -88.0% |
| Suppliers | 440/4 | €130,112 | €15,633 | -€114,479 | -88.0% |
| Taxes, remuneration and social security | 45 | €15,401 | €39,550 | +€24,149 | +157% |
| Taxes | 450/3 | €1,506 | €19,202 | +€17,696 | +1,175% |
| Remuneration and social security | 454/9 | €13,895 | €20,348 | +€6,453 | +46.4% |
| Non-recurring operating income | 76A | €6,756 | €0 | -€6,756 | -100% |
| Remuneration, social security and pensions | 62 | €64,761 | €116,114 | +€51,352 | +79.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,159 | €18,288 | +€8,129 | +80.0% |
| Other operating charges | 640/8 | €1,246 | €2,126 | +€880 | +70.6% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €300,467 | €664,875 | +€364,408 | +121% |
| Operating profit (loss) | 9901 | €224,300 | €528,347 | +€304,047 | +136% |
| Financial income | 75/76B | €15,673 | €22,521 | +€6,848 | +43.7% |
| Recurring financial income | 75 | €15,673 | €22,521 | +€6,848 | +43.7% |
| Financial charges | 65/66B | €3,901 | €12,001 | +€8,100 | +208% |
| Recurring financial charges | 65 | €3,901 | €12,001 | +€8,100 | +208% |
| Profit (loss) for the period before taxes | 9903 | €236,072 | €538,867 | +€302,795 | +128% |
| Income taxes | 67/77 | €72,039 | €172,549 | +€100,510 | +140% |
| Profit (loss) for the period | 9904 | €164,033 | €366,318 | +€202,285 | +123% |
| Profit (loss) for the period to be appropriated | 9905 | €164,033 | €366,318 | +€202,285 | +123% |
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 25 October 2026 via checked.be.