Vegora: what changed
Two fiscal 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.
Vegora
Largest movements
- Cash -€8,657
down €8,657 (-18.2%), from €47,538 to €38,881
mainly Net result for the year (-€15,522) and Provisions (-€1,372)
- Tangible fixed assets -€8,234
down €8,234 (-6.1%), from €135,620 to €127,386
of which Land and buildings: -€7,173
- Profit (loss) carried forward -€11,406
down €11,406 (-24.6%), from -€46,438 to -€57,845
- Reserves -€4,116
down €4,116 (-5.2%), from €79,044 to €74,928
of which Tax-exempt reserves: -€4,116
- Gross operating margin +€15,728
up €15,728 (+77.2%), from -€20,364 to -€4,636
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.
Cash bridge derived
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 | €187,621 | €171,022 | -€16,599 | -8.8% |
| Fixed assets | 21/28 | €135,620 | €127,386 | -€8,234 | -6.1% |
| Tangible fixed assets | 22/27 | €135,620 | €127,386 | -€8,234 | -6.1% |
| Land and buildings | 22 | €132,696 | €125,523 | -€7,173 | -5.4% |
| Plant, machinery and equipment | 23 | €2,129 | €1,450 | -€679 | -31.9% |
| Furniture and vehicles | 24 | €796 | €414 | -€382 | -48.0% |
| Current assets | 29/58 | €52,001 | €43,636 | -€8,365 | -16.1% |
| Amounts receivable within one year | 40/41 | €4,013 | €4,754 | +€741 | +18.5% |
| Trade receivables | 40 | - | €142 | +€142 | |
| Other amounts receivable | 41 | €4,013 | €4,612 | +€599 | +14.9% |
| Cash at bank and in hand | 54/58 | €47,538 | €38,881 | -€8,657 | -18.2% |
| Deferred charges and accrued income | 490/1 | €450 | €0 | -€450 | -100.0% |
| Total equity and liabilities | 10/49 | €187,621 | €171,022 | -€16,599 | -8.8% |
| Equity | 10/15 | €94,579 | €79,057 | -€15,522 | -16.4% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €79,044 | €74,928 | -€4,116 | -5.2% |
| Non-distributable reserves | 130/1 | €7,015 | €7,015 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Reserves not available under the articles | 1311 | €818 | €818 | = | 0.0% |
| Tax-exempt reserves | 132 | €72,029 | €67,913 | -€4,116 | -5.7% |
| Profit (loss) carried forward | 14 | -€46,438 | -€57,845 | -€11,406 | -24.6% |
| Provisions and deferred taxes | 16 | €17,728 | €16,356 | -€1,372 | -7.7% |
| Deferred taxes | 168 | €17,728 | €16,356 | -€1,372 | -7.7% |
| Amounts payable | 17/49 | €75,313 | €75,609 | +€296 | +0.4% |
| Amounts payable within one year | 42/48 | €162 | €58 | -€104 | -64.0% |
| Trade debts | 44 | €162 | €58 | -€104 | -64.0% |
| Suppliers | 440/4 | €162 | €58 | -€104 | -64.0% |
| Accrued charges and deferred income | 492/3 | €75,151 | €75,551 | +€400 | +0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,241 | €8,234 | -€8 | -0.1% |
| Other operating charges | 640/8 | €3,945 | €4,067 | +€122 | +3.1% |
| Gross operating margin | 9900 | -€20,364 | -€4,636 | +€15,728 | +77.2% |
| Operating profit (loss) | 9901 | -€32,550 | -€16,936 | +€15,614 | +48.0% |
| Financial income | 75/76B | €143 | €225 | +€82 | +57.3% |
| Recurring financial income | 75 | €143 | €225 | +€82 | +57.3% |
| Financial charges | 65/66B | €204 | €183 | -€21 | -10.3% |
| Recurring financial charges | 65 | €204 | €183 | -€21 | -10.3% |
| Profit (loss) for the period before taxes | 9903 | -€32,611 | -€16,895 | +€15,717 | +48.2% |
| Transfer from deferred taxes | 780 | €1,372 | €1,372 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€31,239 | -€15,522 | +€15,717 | +50.3% |
| Transfer from tax-exempt reserves | 789 | €4,116 | €4,116 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€27,123 | -€11,406 | +€15,717 | +57.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.