VZA Invest: 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.
VZA Invest
Largest movements
- Tangible fixed assets -€40,800
down €40,800 (-3.3%), from €1.2m to €1.2m
- Debts after one year -€70,121
down €70,121 (-8.9%), from €785,947 to €715,826
- Reserves +€45,000
up €45,000 (+45.0%), from €100,000 to €145,000
- Trade debts -€23,951
down €23,951 (-28.8%), from €83,269 to €59,318
- Gross operating margin -€5,213
down €5,213 (-4.2%), from €124,805 to €119,592
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 | €1,273,629 | €1,223,826 | -€49,803 | -3.9% |
| Fixed assets | 21/28 | €1,236,163 | €1,195,363 | -€40,800 | -3.3% |
| Tangible fixed assets | 22/27 | €1,236,163 | €1,195,363 | -€40,800 | -3.3% |
| Land and buildings | 22 | €1,236,163 | €1,195,363 | -€40,800 | -3.3% |
| Current assets | 29/58 | €37,466 | €28,462 | -€9,003 | -24.0% |
| Cash at bank and in hand | 54/58 | €37,466 | €27,898 | -€9,568 | -25.5% |
| Deferred charges and accrued income | 490/1 | - | €564 | +€564 | |
| Total equity and liabilities | 10/49 | €1,273,629 | €1,223,826 | -€49,803 | -3.9% |
| Equity | 10/15 | €111,293 | €154,215 | +€42,923 | +38.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €100,000 | €145,000 | +€45,000 | +45.0% |
| Distributable reserves | 133 | €100,000 | €145,000 | +€45,000 | +45.0% |
| Profit (loss) carried forward | 14 | €5,093 | €3,015 | -€2,077 | -40.8% |
| Amounts payable | 17/49 | €1,162,336 | €1,069,610 | -€92,726 | -8.0% |
| Amounts payable after more than one year | 17 | €785,947 | €715,826 | -€70,121 | -8.9% |
| Financial debts | 170/4 | €785,947 | €715,826 | -€70,121 | -8.9% |
| Amounts payable within one year | 42/48 | €376,390 | €353,785 | -€22,605 | -6.0% |
| Current portion of amounts payable after more than one year | 42 | €69,175 | €70,121 | +€946 | +1.4% |
| Trade debts | 44 | €83,269 | €59,318 | -€23,951 | -28.8% |
| Suppliers | 440/4 | €83,269 | €59,318 | -€23,951 | -28.8% |
| Taxes, remuneration and social security | 45 | €15,919 | €16,154 | +€234 | +1.5% |
| Taxes | 450/3 | €15,919 | €16,154 | +€234 | +1.5% |
| Other amounts payable | 47/48 | €208,026 | €208,192 | +€166 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,800 | €40,800 | = | 0.0% |
| Other operating charges | 640/8 | €7,946 | €8,128 | +€182 | +2.3% |
| Gross operating margin | 9900 | €124,805 | €119,592 | -€5,213 | -4.2% |
| Operating profit (loss) | 9901 | €76,059 | €70,664 | -€5,395 | -7.1% |
| Financial income | 75/76B | €1 | €6 | +€5 | +540% |
| Recurring financial income | 75 | €1 | €6 | +€5 | +540% |
| Financial charges | 65/66B | €12,478 | €11,592 | -€886 | -7.1% |
| Recurring financial charges | 65 | €12,478 | €11,592 | -€886 | -7.1% |
| Profit (loss) for the period before taxes | 9903 | €63,582 | €59,078 | -€4,504 | -7.1% |
| Income taxes | 67/77 | €15,920 | €16,155 | +€235 | +1.5% |
| Profit (loss) for the period | 9904 | €47,662 | €42,923 | -€4,739 | -9.9% |
| Profit (loss) for the period to be appropriated | 9905 | €47,662 | €42,923 | -€4,739 | -9.9% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.