VEGOS: 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.
VEGOS
Largest movements
- Tangible fixed assets -€37,450
down €37,450 (-4.8%), from €788,073 to €750,624
of which Land and buildings: -€34,662
- Profit (loss) carried forward -€53,517
down €53,517 (-9.0%), from -€592,914 to -€646,431
- Other debts +€31,655
up €31,655 (+19.7%), from €160,297 to €191,953
- Debts after one year -€28,545
down €28,545 (-7.6%), from €374,692 to €346,148
- Gross operating margin -€12,558
down €12,558, from €5,754 to -€6,804
- Financial charges -€354
down €354 (-5.1%), from €6,969 to €6,614
- Taxes -€315
down €315 (-56.0%), from €562 to €247
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 | €811,847 | €761,980 | -€49,867 | -6.1% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €788,073 | €750,624 | -€37,450 | -4.8% |
| Tangible fixed assets | 22/27 | €788,073 | €750,624 | -€37,450 | -4.8% |
| Land and buildings | 22 | €776,871 | €742,210 | -€34,662 | -4.5% |
| Plant, machinery and equipment | 23 | €11,202 | €8,414 | -€2,788 | -24.9% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Current assets | 29/58 | €23,773 | €11,356 | -€12,417 | -52.2% |
| Amounts receivable within one year | 40/41 | €5,436 | €3,184 | -€2,252 | -41.4% |
| Trade receivables | 40 | €1,418 | €1,993 | +€575 | +40.5% |
| Other amounts receivable | 41 | €4,018 | €1,191 | -€2,827 | -70.4% |
| Current investments | 50/53 | €60 | €60 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €10,947 | €4,623 | -€6,324 | -57.8% |
| Deferred charges and accrued income | 490/1 | €7,330 | €3,489 | -€3,841 | -52.4% |
| Total equity and liabilities | 10/49 | €811,847 | €761,980 | -€49,867 | -6.1% |
| Equity | 10/15 | €247,986 | €194,469 | -€53,517 | -21.6% |
| Contributions | 10/11 | €840,900 | €840,900 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€592,914 | -€646,431 | -€53,517 | -9.0% |
| Amounts payable | 17/49 | €563,861 | €567,511 | +€3,650 | +0.6% |
| Amounts payable after more than one year | 17 | €374,692 | €346,148 | -€28,545 | -7.6% |
| Financial debts | 170/4 | €374,692 | €346,148 | -€28,545 | -7.6% |
| Amounts payable within one year | 42/48 | €189,169 | €221,364 | +€32,195 | +17.0% |
| Current portion of amounts payable after more than one year | 42 | €28,171 | €28,545 | +€374 | +1.3% |
| Trade debts | 44 | €670 | €485 | -€185 | -27.6% |
| Suppliers | 440/4 | €670 | €485 | -€185 | -27.6% |
| Taxes, remuneration and social security | 45 | €30 | €382 | +€351 | +1160.9% |
| Taxes | 450/3 | €30 | €382 | +€351 | +1160.9% |
| Other amounts payable | 47/48 | €160,297 | €191,953 | +€31,655 | +19.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,399 | €37,450 | +€50 | +0.1% |
| Other operating charges | 640/8 | €2,341 | €2,402 | +€61 | +2.6% |
| Gross operating margin | 9900 | €5,754 | -€6,804 | -€12,558 | |
| Operating profit (loss) | 9901 | -€33,986 | -€46,656 | -€12,669 | -37.3% |
| Financial charges | 65/66B | €6,969 | €6,614 | -€354 | -5.1% |
| Recurring financial charges | 65 | €6,969 | €6,614 | -€354 | -5.1% |
| Profit (loss) for the period before taxes | 9903 | -€40,955 | -€53,270 | -€12,315 | -30.1% |
| Income taxes | 67/77 | €562 | €247 | -€315 | -56.0% |
| Profit (loss) for the period | 9904 | -€41,517 | -€53,517 | -€12,000 | -28.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€41,517 | -€53,517 | -€12,000 | -28.9% |
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 5 October 2026 via checked.be.