VAOS: 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.
VAOS
Largest movements
- Receivables within one year +€127,371
up €127,371 (+51.8%), from €246,048 to €373,419
of which Trade receivables: +€83,545
- Cash +€26,564
new in 2025: €26,564
mainly Trade debts (+€140,230) and Net result for the year (+€34,382)
- Trade debts +€140,230
up €140,230 (+262%), from €53,458 to €193,687
of which Suppliers: +€140,373
- Profit (loss) carried forward +€34,382
up €34,382 (+27.0%), from €127,275 to €161,657
- Other debts -€21,498
no longer reported in 2025 (was €21,498)
- Purchases and services +€97,548
up €97,548 (+34.1%), from €285,964 to €383,511
- Turnover +€95,652
up €95,652 (+26.7%), from €357,823 to €453,476
- Other operating charges +€10,756
up €10,756 (+288%), from €3,734 to €14,490
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 | €254,251 | €407,322 | +€153,071 | +60.2% |
| Fixed assets | 21/28 | €6,872 | €6,724 | -€148 | -2.2% |
| Tangible fixed assets | 22/27 | €6,872 | €6,724 | -€148 | -2.2% |
| Plant, machinery and equipment | 23 | €1,325 | €3,395 | +€2,069 | +156% |
| Furniture and vehicles | 24 | €5,547 | €3,329 | -€2,217 | -40.0% |
| Current assets | 29/58 | €247,379 | €400,598 | +€153,219 | +61.9% |
| Amounts receivable within one year | 40/41 | €246,048 | €373,419 | +€127,371 | +51.8% |
| Trade receivables | 40 | €120,810 | €204,355 | +€83,545 | +69.2% |
| Other amounts receivable | 41 | €125,238 | €169,064 | +€43,826 | +35.0% |
| Cash at bank and in hand | 54/58 | - | €26,564 | +€26,564 | |
| Deferred charges and accrued income | 490/1 | €1,331 | €615 | -€716 | -53.8% |
| Total equity and liabilities | 10/49 | €254,251 | €407,322 | +€153,071 | +60.2% |
| Equity | 10/15 | €133,475 | €167,857 | +€34,382 | +25.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €127,275 | €161,657 | +€34,382 | +27.0% |
| Amounts payable | 17/49 | €120,775 | €239,465 | +€118,690 | +98.3% |
| Amounts payable within one year | 42/48 | €120,775 | €239,465 | +€118,690 | +98.3% |
| Financial debts | 43 | €1,579 | €1,579 | = | 0.0% |
| Credit institutions | 430/8 | €1,579 | €1,579 | = | 0.0% |
| Trade debts | 44 | €53,458 | €193,687 | +€140,230 | +262% |
| Suppliers | 440/4 | €53,314 | €193,687 | +€140,373 | +263% |
| Bills of exchange payable | 441 | €143 | - | -€143 | |
| Taxes, remuneration and social security | 45 | €44,241 | €44,199 | -€42 | -0.1% |
| Taxes | 450/3 | €44,241 | €44,199 | -€42 | -0.1% |
| Other amounts payable | 47/48 | €21,498 | - | -€21,498 | |
| Turnover | 70 | €357,823 | €453,476 | +€95,652 | +26.7% |
| Non-recurring operating income | 76A | €7,634 | - | -€7,634 | |
| Goods, raw materials, services and sundry goods | 60/61 | €285,964 | €383,511 | +€97,548 | +34.1% |
| Remuneration, social security and pensions | 62 | €169 | - | -€169 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,444 | €4,408 | -€1,036 | -19.0% |
| Other operating charges | 640/8 | €3,734 | €14,490 | +€10,756 | +288% |
| Gross operating margin | 9900 | €79,493 | €78,903 | -€590 | -0.7% |
| Operating profit (loss) | 9901 | €70,146 | €60,005 | -€10,141 | -14.5% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €3,944 | €7,185 | +€3,241 | +82.2% |
| Recurring financial charges | 65 | €3,944 | €7,185 | +€3,241 | +82.2% |
| Profit (loss) for the period before taxes | 9903 | €66,203 | €52,820 | -€13,383 | -20.2% |
| Income taxes | 67/77 | €19,653 | €18,439 | -€1,214 | -6.2% |
| Profit (loss) for the period | 9904 | €46,550 | €34,382 | -€12,169 | -26.1% |
| Profit (loss) for the period to be appropriated | 9905 | €46,550 | €34,382 | -€12,169 | -26.1% |
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 28 October 2026 via checked.be.