Stephanie VdV: 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.
Stephanie VdV
Largest movements
- Receivables within one year +€2,787
up €2,787 (+39.4%), from €7,067 to €9,854
- Cash -€2,773
down €2,773 (-38.2%), from €7,251 to €4,478
mainly Investment in fixed assets (net) (-€3,207) and Receivables within one year (-€2,787)
- Tangible fixed assets +€2,772
new in 2025: €2,772
- Deferred charges and accrued income -€1,345
down €1,345 (-97.3%), from €1,382 to €37
- Tax, wage and social debts +€2,548
up €2,548 (+95.2%), from €2,676 to €5,224
- Other debts -€1,578
down €1,578 (-64.2%), from €2,459 to €881
- Profit (loss) carried forward +€1,241
up €1,241 (+34.8%), from €3,563 to €4,805
- Trade debts -€1,116
down €1,116 (-31.1%), from €3,585 to €2,469
- Accrued charges and deferred income +€345
up €345 (+24.3%), from €1,417 to €1,761
- Gross operating margin -€2,429
down €2,429 (-28.7%), from €8,468 to €6,039
- Depreciation +€435
new in 2025: €435
- Financial charges -€364
down €364 (-85.8%), from €424 to €60
- Taxes -€128
down €128 (-4.8%), from €2,676 to €2,548
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 | €15,700 | €17,140 | +€1,440 | +9.2% |
| Fixed assets | 21/28 | - | €2,772 | +€2,772 | |
| Tangible fixed assets | 22/27 | - | €2,772 | +€2,772 | |
| Furniture and vehicles | 24 | - | €2,772 | +€2,772 | |
| Current assets | 29/58 | €15,700 | €14,368 | -€1,332 | -8.5% |
| Amounts receivable within one year | 40/41 | €7,067 | €9,854 | +€2,787 | +39.4% |
| Other amounts receivable | 41 | €7,067 | €9,854 | +€2,787 | +39.4% |
| Cash at bank and in hand | 54/58 | €7,251 | €4,478 | -€2,773 | -38.2% |
| Deferred charges and accrued income | 490/1 | €1,382 | €37 | -€1,345 | -97.3% |
| Total equity and liabilities | 10/49 | €15,700 | €17,140 | +€1,440 | +9.2% |
| Equity | 10/15 | €5,563 | €6,805 | +€1,241 | +22.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,563 | €4,805 | +€1,241 | +34.8% |
| Amounts payable | 17/49 | €10,137 | €10,335 | +€198 | +2.0% |
| Amounts payable within one year | 42/48 | €8,720 | €8,574 | -€146 | -1.7% |
| Trade debts | 44 | €3,585 | €2,469 | -€1,116 | -31.1% |
| Suppliers | 440/4 | €3,585 | €2,469 | -€1,116 | -31.1% |
| Taxes, remuneration and social security | 45 | €2,676 | €5,224 | +€2,548 | +95.2% |
| Taxes | 450/3 | €2,676 | €5,224 | +€2,548 | +95.2% |
| Other amounts payable | 47/48 | €2,459 | €881 | -€1,578 | -64.2% |
| Accrued charges and deferred income | 492/3 | €1,417 | €1,761 | +€345 | +24.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €435 | +€435 | |
| Other operating charges | 640/8 | €947 | €922 | -€25 | -2.6% |
| Gross operating margin | 9900 | €8,468 | €6,039 | -€2,429 | -28.7% |
| Operating profit (loss) | 9901 | €7,521 | €4,682 | -€2,839 | -37.7% |
| Financial charges | 65/66B | €424 | €60 | -€364 | -85.8% |
| Recurring financial charges | 65 | €424 | €60 | -€364 | -85.8% |
| Profit (loss) for the period before taxes | 9903 | €7,098 | €4,622 | -€2,476 | -34.9% |
| Income taxes | 67/77 | €2,676 | €2,548 | -€128 | -4.8% |
| Profit (loss) for the period | 9904 | €4,422 | €2,074 | -€2,348 | -53.1% |
| Profit (loss) for the period to be appropriated | 9905 | €4,422 | €2,074 | -€2,348 | -53.1% |
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 23 October 2026 via checked.be.