VEGA V2A: 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 V2A
Largest movements
- Receivables within one year -€109,996
down €109,996 (-20.7%), from €532,201 to €422,205
of which Trade receivables: -€115,571
- Cash -€14,469
down €14,469 (-45.6%), from €31,738 to €17,269
mainly Trade debts (-€125,833) and Short-term financial debts (-€20,000)
- Tangible fixed assets -€14,384
down €14,384 (-45.6%), from €31,536 to €17,152
of which Other tangible fixed assets: -€12,715
- Trade debts -€125,833
down €125,833 (-30.1%), from €418,659 to €292,826
- Profit (loss) carried forward +€25,269
up €25,269 (+129%), from €19,633 to €44,902
- Short-term financial debts -€20,000
no longer reported in 2025 (was €20,000)
- Tax, wage and social debts -€14,684
down €14,684 (-15.5%), from €94,596 to €79,912
- Gross operating margin +€42,916
up €42,916 (+961%), from €4,464 to €47,380
- Taxes +€3,935
up €3,935 (+2,072%), from €190 to €4,125
- Depreciation -€1,631
down €1,631 (-10.2%), from €16,015 to €14,384
- Financial charges -€479
down €479 (-12.8%), from €3,736 to €3,258
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 | €609,862 | €470,978 | -€138,884 | -22.8% |
| Fixed assets | 21/28 | €39,660 | €25,276 | -€14,384 | -36.3% |
| Tangible fixed assets | 22/27 | €31,536 | €17,152 | -€14,384 | -45.6% |
| Furniture and vehicles | 24 | €2,519 | €850 | -€1,669 | -66.3% |
| Other tangible fixed assets | 26 | €29,017 | €16,302 | -€12,715 | -43.8% |
| Financial fixed assets | 28 | €8,124 | €8,124 | = | 0.0% |
| Current assets | 29/58 | €570,202 | €445,702 | -€124,500 | -21.8% |
| Amounts receivable within one year | 40/41 | €532,201 | €422,205 | -€109,996 | -20.7% |
| Trade receivables | 40 | €532,201 | €416,630 | -€115,571 | -21.7% |
| Other amounts receivable | 41 | - | €5,575 | +€5,575 | |
| Cash at bank and in hand | 54/58 | €31,738 | €17,269 | -€14,469 | -45.6% |
| Deferred charges and accrued income | 490/1 | €6,263 | €6,228 | -€35 | -0.6% |
| Total equity and liabilities | 10/49 | €609,862 | €470,978 | -€138,884 | -22.8% |
| Equity | 10/15 | €39,633 | €64,902 | +€25,269 | +63.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,633 | €44,902 | +€25,269 | +129% |
| Amounts payable | 17/49 | €570,230 | €406,076 | -€164,153 | -28.8% |
| Amounts payable within one year | 42/48 | €565,668 | €405,150 | -€160,518 | -28.4% |
| Financial debts | 43 | €20,000 | - | -€20,000 | |
| Credit institutions | 430/8 | €20,000 | - | -€20,000 | |
| Trade debts | 44 | €418,659 | €292,826 | -€125,833 | -30.1% |
| Suppliers | 440/4 | €418,659 | €292,826 | -€125,833 | -30.1% |
| Taxes, remuneration and social security | 45 | €94,596 | €79,912 | -€14,684 | -15.5% |
| Taxes | 450/3 | €94,596 | €79,912 | -€14,684 | -15.5% |
| Other amounts payable | 47/48 | €32,412 | €32,412 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €4,562 | €926 | -€3,636 | -79.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,015 | €14,384 | -€1,631 | -10.2% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €4,464 | €47,380 | +€42,916 | +961% |
| Operating profit (loss) | 9901 | -€11,938 | €32,596 | +€44,535 | |
| Financial income | 75/76B | €0 | €55 | +€55 | +61,478% |
| Recurring financial income | 75 | €0 | €55 | +€55 | +61,478% |
| Financial charges | 65/66B | €3,736 | €3,258 | -€479 | -12.8% |
| Recurring financial charges | 65 | €3,736 | €3,258 | -€479 | -12.8% |
| Profit (loss) for the period before taxes | 9903 | -€15,675 | €29,394 | +€45,069 | |
| Income taxes | 67/77 | €190 | €4,125 | +€3,935 | +2,072% |
| Profit (loss) for the period | 9904 | -€15,865 | €25,269 | +€41,134 | |
| Profit (loss) for the period to be appropriated | 9905 | -€15,865 | €25,269 | +€41,134 |
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 26 October 2026 via checked.be.