VEGAN WAF: 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.
VEGAN WAF
Largest movements
- Receivables within one year +€38,168
up €38,168 (+55.6%), from €68,586 to €106,754
of which Other amounts receivable: +€35,383
- Cash +€23,990
up €23,990 (+128%), from €18,724 to €42,714
mainly Net result for the year (+€36,416) and Depreciation (+€32,547)
- Tangible fixed assets -€15,696
down €15,696 (-30.2%), from €51,985 to €36,289
of which Plant, machinery and equipment: -€15,758
- Intangible fixed assets -€4,753
down €4,753 (-7.2%), from €65,987 to €61,235
- Profit (loss) carried forward +€36,416
up €36,416 (+21.1%), from €172,476 to €208,892
- Trade debts +€2,707
up €2,707 (+111%), from €2,440 to €5,146
- Staff costs +€15,450
up €15,450 (+126%), from €12,295 to €27,745
- Gross operating margin +€12,395
up €12,395 (+11.8%), from €105,478 to €117,873
- Taxes +€3,079
up €3,079 (+30.7%), from €10,033 to €13,112
- Other operating charges -€2,497
down €2,497 (-40.4%), from €6,175 to €3,678
- Financial charges +€2,143
up €2,143 (+51.4%), from €4,168 to €6,311
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 | €227,897 | €269,157 | +€41,261 | +18.1% |
| Fixed assets | 21/28 | €129,274 | €108,825 | -€20,448 | -15.8% |
| Intangible fixed assets | 21 | €65,987 | €61,235 | -€4,753 | -7.2% |
| Tangible fixed assets | 22/27 | €51,985 | €36,289 | -€15,696 | -30.2% |
| Plant, machinery and equipment | 23 | €33,486 | €17,729 | -€15,758 | -47.1% |
| Furniture and vehicles | 24 | €4,546 | €4,834 | +€288 | +6.3% |
| Other tangible fixed assets | 26 | €13,953 | €13,727 | -€226 | -1.6% |
| Financial fixed assets | 28 | €11,301 | €11,301 | = | 0.0% |
| Current assets | 29/58 | €98,623 | €160,332 | +€61,709 | +62.6% |
| Stocks and contracts in progress | 3 | €9,804 | €10,864 | +€1,060 | +10.8% |
| Stocks | 30/36 | €9,804 | €10,864 | +€1,060 | +10.8% |
| Amounts receivable within one year | 40/41 | €68,586 | €106,754 | +€38,168 | +55.6% |
| Trade receivables | 40 | €5,500 | €8,285 | +€2,785 | +50.6% |
| Other amounts receivable | 41 | €63,086 | €98,469 | +€35,383 | +56.1% |
| Cash at bank and in hand | 54/58 | €18,724 | €42,714 | +€23,990 | +128% |
| Deferred charges and accrued income | 490/1 | €1,509 | - | -€1,509 | |
| Total equity and liabilities | 10/49 | €227,897 | €269,157 | +€41,261 | +18.1% |
| Equity | 10/15 | €178,676 | €215,092 | +€36,416 | +20.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €172,476 | €208,892 | +€36,416 | +21.1% |
| Amounts payable | 17/49 | €49,220 | €54,065 | +€4,845 | +9.8% |
| Amounts payable after more than one year | 17 | €21,313 | €19,323 | -€1,990 | -9.3% |
| Financial debts | 170/4 | €21,313 | €19,323 | -€1,990 | -9.3% |
| Amounts payable within one year | 42/48 | €27,779 | €34,646 | +€6,867 | +24.7% |
| Financial debts | 43 | €1,898 | €1,990 | +€92 | +4.8% |
| Credit institutions | 430/8 | €1,898 | €1,990 | +€92 | +4.8% |
| Trade debts | 44 | €2,440 | €5,146 | +€2,707 | +111% |
| Suppliers | 440/4 | €2,440 | €5,146 | +€2,707 | +111% |
| Taxes, remuneration and social security | 45 | €5,718 | €7,475 | +€1,756 | +30.7% |
| Taxes | 450/3 | €5,093 | €3,431 | -€1,662 | -32.6% |
| Remuneration and social security | 454/9 | €625 | €4,044 | +€3,418 | +547% |
| Other amounts payable | 47/48 | €17,723 | €20,035 | +€2,312 | +13.0% |
| Accrued charges and deferred income | 492/3 | €129 | €97 | -€32 | -24.8% |
| Remuneration, social security and pensions | 62 | €12,295 | €27,745 | +€15,450 | +126% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,679 | €32,547 | -€2,133 | -6.1% |
| Other operating charges | 640/8 | €6,175 | €3,678 | -€2,497 | -40.4% |
| Gross operating margin | 9900 | €105,478 | €117,873 | +€12,395 | +11.8% |
| Operating profit (loss) | 9901 | €52,329 | €53,903 | +€1,574 | +3.0% |
| Financial income | 75/76B | €1,447 | €1,936 | +€489 | +33.8% |
| Recurring financial income | 75 | €1,447 | €1,936 | +€489 | +33.8% |
| Financial charges | 65/66B | €4,168 | €6,311 | +€2,143 | +51.4% |
| Recurring financial charges | 65 | €4,168 | €6,311 | +€2,143 | +51.4% |
| Profit (loss) for the period before taxes | 9903 | €49,608 | €49,528 | -€80 | -0.2% |
| Income taxes | 67/77 | €10,033 | €13,112 | +€3,079 | +30.7% |
| Profit (loss) for the period | 9904 | €39,575 | €36,416 | -€3,159 | -8.0% |
| Profit (loss) for the period to be appropriated | 9905 | €39,575 | €36,416 | -€3,159 | -8.0% |
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 16 October 2026 via checked.be.