VUAR: what changed
VUAR
Largest movements
- Receivables within one year +€66,781
new in 2025: €66,781
of which Trade receivables: +€65,445
- Cash -€7,442
down €7,442 (-61.6%), from €12,083 to €4,641
mainly Receivables within one year (-€66,781) and Debts after one year (-€39,090)
- Profit (loss) carried forward +€82,209
up €82,209, from -€366 to €81,843
- Debts after one year -€39,090
down €39,090 (-15.1%), from €259,625 to €220,535
- Tax, wage and social debts +€24,683
up €24,683 (+623%), from €3,963 to €28,646
- Other debts -€7,937
down €7,937 (-5.8%), from €138,000 to €130,063
- Gross operating margin +€120,920
up €120,920 (+5,921%), from €2,042 to €122,962
- Taxes +€27,446
new in 2025: €27,446
- Financial charges +€10,852
up €10,852 (+525%), from €2,068 to €12,920
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €465,683 | €525,021 | +€59,338 | +12.7% |
| Fixed assets | 21/28 | €453,600 | €453,600 | = | 0.0% |
| Financial fixed assets | 28 | €453,600 | €453,600 | = | 0.0% |
| Current assets | 29/58 | €12,083 | €71,421 | +€59,338 | +491% |
| Amounts receivable within one year | 40/41 | - | €66,781 | +€66,781 | |
| Trade receivables | 40 | - | €65,445 | +€65,445 | |
| Other amounts receivable | 41 | - | €1,336 | +€1,336 | |
| Cash at bank and in hand | 54/58 | €12,083 | €4,641 | -€7,442 | -61.6% |
| Total equity and liabilities | 10/49 | €465,683 | €525,021 | +€59,338 | +12.7% |
| Equity | 10/15 | €19,634 | €101,843 | +€82,209 | +419% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Capital | 10 | €20,000 | €20,000 | = | 0.0% |
| Issued capital | 100 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€366 | €81,843 | +€82,209 | |
| Amounts payable | 17/49 | €446,049 | €423,179 | -€22,870 | -5.1% |
| Amounts payable after more than one year | 17 | €259,625 | €220,535 | -€39,090 | -15.1% |
| Financial debts | 170/4 | €259,625 | €220,535 | -€39,090 | -15.1% |
| Amounts payable within one year | 42/48 | €181,323 | €198,461 | +€17,138 | +9.5% |
| Current portion of amounts payable after more than one year | 42 | €37,340 | €39,090 | +€1,750 | +4.7% |
| Trade debts | 44 | €2,020 | €662 | -€1,358 | -67.2% |
| Suppliers | 440/4 | €2,020 | €662 | -€1,358 | -67.2% |
| Taxes, remuneration and social security | 45 | €3,963 | €28,646 | +€24,683 | +623% |
| Taxes | 450/3 | €3,963 | €28,646 | +€24,683 | +623% |
| Other amounts payable | 47/48 | €138,000 | €130,063 | -€7,937 | -5.8% |
| Accrued charges and deferred income | 492/3 | €5,101 | €4,183 | -€918 | -18.0% |
| Other operating charges | 640/8 | €340 | €387 | +€47 | +13.9% |
| Gross operating margin | 9900 | €2,042 | €122,962 | +€120,920 | +5,921% |
| Operating profit (loss) | 9901 | €1,702 | €122,575 | +€120,873 | +7,102% |
| Financial charges | 65/66B | €2,068 | €12,920 | +€10,852 | +525% |
| Recurring financial charges | 65 | €2,068 | €12,920 | +€10,852 | +525% |
| Profit (loss) for the period before taxes | 9903 | -€366 | €109,655 | +€110,020 | |
| Income taxes | 67/77 | - | €27,446 | +€27,446 | |
| Profit (loss) for the period | 9904 | -€366 | €82,209 | +€82,574 | |
| Profit (loss) for the period to be appropriated | 9905 | -€366 | €82,209 | +€82,574 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.