V & C: what changed
Two fiscal 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 & C
Largest movements
- Cash -€21,307
down €21,307 (-13.9%), from €152,835 to €131,529
mainly Tax, wage and social debts (-€11,771) and Trade debts (-€10,551)
- Tax, wage and social debts -€11,771
down €11,771 (-91.4%), from €12,876 to €1,105
- Trade debts -€10,551
down €10,551 (-8.2%), from €128,498 to €117,947
- Profit (loss) carried forward +€3,036
up €3,036 (+5.0%), from €60,689 to €63,725
- Gross operating margin -€33,446
down €33,446 (-86.7%), from €38,596 to €5,150
- Financial charges -€12,413
down €12,413 (-99.6%), from €12,467 to €54
- Taxes -€5,911
down €5,911 (-84.2%), from €7,017 to €1,105
- Other operating charges +€666
up €666 (+172.0%), from €387 to €1,054
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.
Cash bridge derived
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 | €212,628 | €193,359 | -€19,269 | -9.1% |
| Current assets | 29/58 | €212,628 | €193,359 | -€19,269 | -9.1% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €59,793 | €61,095 | +€1,303 | +2.2% |
| Trade receivables | 40 | €35,672 | €39,908 | +€4,236 | +11.9% |
| Other amounts receivable | 41 | €24,121 | €21,188 | -€2,933 | -12.2% |
| Cash at bank and in hand | 54/58 | €152,835 | €131,529 | -€21,307 | -13.9% |
| Deferred charges and accrued income | 490/1 | - | €735 | +€735 | |
| Total equity and liabilities | 10/49 | €212,628 | €193,359 | -€19,269 | -9.1% |
| Equity | 10/15 | €70,689 | €73,725 | +€3,036 | +4.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €60,689 | €63,725 | +€3,036 | +5.0% |
| Amounts payable | 17/49 | €141,939 | €119,634 | -€22,305 | -15.7% |
| Amounts payable within one year | 42/48 | €141,939 | €119,634 | -€22,305 | -15.7% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €128,498 | €117,947 | -€10,551 | -8.2% |
| Suppliers | 440/4 | €128,498 | €117,947 | -€10,551 | -8.2% |
| Taxes, remuneration and social security | 45 | €12,876 | €1,105 | -€11,771 | -91.4% |
| Taxes | 450/3 | €12,876 | €1,105 | -€11,771 | -91.4% |
| Other amounts payable | 47/48 | €566 | €582 | +€16 | +2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €387 | €1,054 | +€666 | +172.0% |
| Gross operating margin | 9900 | €38,596 | €5,150 | -€33,446 | -86.7% |
| Operating profit (loss) | 9901 | €38,208 | €4,097 | -€34,112 | -89.3% |
| Financial income | 75/76B | €8 | €99 | +€91 | +1155.4% |
| Recurring financial income | 75 | €8 | €99 | +€91 | +1155.4% |
| Financial charges | 65/66B | €12,467 | €54 | -€12,413 | -99.6% |
| Recurring financial charges | 65 | €12,467 | €54 | -€12,413 | -99.6% |
| Profit (loss) for the period before taxes | 9903 | €25,749 | €4,142 | -€21,608 | -83.9% |
| Income taxes | 67/77 | €7,017 | €1,105 | -€5,911 | -84.2% |
| Profit (loss) for the period | 9904 | €18,733 | €3,036 | -€15,696 | -83.8% |
| Profit (loss) for the period to be appropriated | 9905 | €18,733 | €3,036 | -€15,696 | -83.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.