V AND V: 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.
V AND V
Largest movements
- Tangible fixed assets +€40,107
up €40,107 (+146%), from €27,511 to €67,617
of which Furniture and vehicles: +€47,535
- Cash -€11,839
down €11,839 (-58.9%), from €20,094 to €8,254
mainly Investment in fixed assets (net) (-€50,396) and Net result for the year (-€10,232)
- Receivables within one year +€6,963
up €6,963 (+21.9%), from €31,788 to €38,751
of which Trade receivables: +€7,126
- Deferred charges and accrued income -€4,290
down €4,290 (-79.3%), from €5,412 to €1,122
- Debts after one year +€37,925
new in 2025: €37,925
- Profit (loss) carried forward -€10,232
down €10,232 (-32.7%), from €31,317 to €21,085
- Current portion of long-term debt +€9,415
new in 2025: €9,415
- Trade debts -€9,218
down €9,218 (-43.0%), from €21,456 to €12,237
- Other debts +€4,412
up €4,412 (+86.2%), from €5,117 to €9,530
- Depreciation -€6,015
down €6,015 (-36.9%), from €16,305 to €10,289
- Staff costs +€5,304
up €5,304 (+4.2%), from €126,098 to €131,402
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 | €90,052 | €120,992 | +€30,940 | +34.4% |
| Fixed assets | 21/28 | €27,758 | €67,865 | +€40,107 | +144% |
| Tangible fixed assets | 22/27 | €27,511 | €67,617 | +€40,107 | +146% |
| Land and buildings | 22 | €27,360 | €19,955 | -€7,405 | -27.1% |
| Plant, machinery and equipment | 23 | €23 | - | -€23 | |
| Furniture and vehicles | 24 | €127 | €47,662 | +€47,535 | +37,370% |
| Financial fixed assets | 28 | €248 | €248 | = | 0.0% |
| Current assets | 29/58 | €62,294 | €53,127 | -€9,167 | -14.7% |
| Stocks and contracts in progress | 3 | €5,000 | €5,000 | = | 0.0% |
| Stocks | 30/36 | €5,000 | €5,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €31,788 | €38,751 | +€6,963 | +21.9% |
| Trade receivables | 40 | €29,105 | €36,230 | +€7,126 | +24.5% |
| Other amounts receivable | 41 | €2,683 | €2,520 | -€163 | -6.1% |
| Cash at bank and in hand | 54/58 | €20,094 | €8,254 | -€11,839 | -58.9% |
| Deferred charges and accrued income | 490/1 | €5,412 | €1,122 | -€4,290 | -79.3% |
| Total equity and liabilities | 10/49 | €90,052 | €120,992 | +€30,940 | +34.4% |
| Equity | 10/15 | €53,131 | €42,900 | -€10,232 | -19.3% |
| Contributions | 10/11 | €19,831 | €19,831 | = | 0.0% |
| Reserves | 13 | €1,983 | €1,983 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,983 | €1,983 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,983 | €1,983 | = | 0.0% |
| Profit (loss) carried forward | 14 | €31,317 | €21,085 | -€10,232 | -32.7% |
| Amounts payable | 17/49 | €36,921 | €78,092 | +€41,172 | +112% |
| Amounts payable after more than one year | 17 | - | €37,925 | +€37,925 | |
| Financial debts | 170/4 | - | €37,925 | +€37,925 | |
| Amounts payable within one year | 42/48 | €36,921 | €40,140 | +€3,220 | +8.7% |
| Current portion of amounts payable after more than one year | 42 | - | €9,415 | +€9,415 | |
| Trade debts | 44 | €21,456 | €12,237 | -€9,218 | -43.0% |
| Suppliers | 440/4 | €21,456 | €12,237 | -€9,218 | -43.0% |
| Taxes, remuneration and social security | 45 | €10,348 | €8,958 | -€1,389 | -13.4% |
| Taxes | 450/3 | €3,096 | €1,283 | -€1,813 | -58.6% |
| Remuneration and social security | 454/9 | €7,252 | €7,676 | +€424 | +5.8% |
| Other amounts payable | 47/48 | €5,117 | €9,530 | +€4,412 | +86.2% |
| Accrued charges and deferred income | 492/3 | - | €27 | +€27 | |
| Remuneration, social security and pensions | 62 | €126,098 | €131,402 | +€5,304 | +4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,305 | €10,289 | -€6,015 | -36.9% |
| Other operating charges | 640/8 | €2,060 | €1,911 | -€149 | -7.3% |
| Gross operating margin | 9900 | €134,792 | €135,319 | +€527 | +0.4% |
| Operating profit (loss) | 9901 | -€9,671 | -€8,284 | +€1,387 | +14.3% |
| Financial income | 75/76B | €711 | €126 | -€586 | -82.3% |
| Recurring financial income | 75 | €711 | €126 | -€586 | -82.3% |
| Financial charges | 65/66B | €567 | €1,592 | +€1,025 | +181% |
| Recurring financial charges | 65 | €567 | €1,592 | +€1,025 | +181% |
| Profit (loss) for the period before taxes | 9903 | -€9,527 | -€9,750 | -€223 | -2.3% |
| Income taxes | 67/77 | €511 | €482 | -€30 | -5.8% |
| Profit (loss) for the period | 9904 | -€10,039 | -€10,232 | -€193 | -1.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,039 | -€10,232 | -€193 | -1.9% |
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 26 October 2026 via checked.be.