V&C EXPERTEN: 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&C EXPERTEN
Largest movements
- Receivables within one year +€61,238
up €61,238 (+82.8%), from €73,998 to €135,236
of which Trade receivables: +€64,813
- Intangible fixed assets -€30,700
down €30,700 (-25.0%), from €122,800 to €92,100
- Cash -€15,781
down €15,781 (-89.8%), from €17,583 to €1,802
mainly Receivables within one year (-€61,238) and Debts after one year (-€51,384)
- Tangible fixed assets -€5,544
down €5,544 (-25.3%), from €21,949 to €16,405
- Debts after one year -€51,384
down €51,384 (-69.4%), from €73,996 to €22,612
- Trade debts +€38,621
up €38,621 (+86.1%), from €44,875 to €83,496
- Current portion of long-term debt +€15,500
up €15,500 (+56.2%), from €27,569 to €43,070
- Short-term financial debts +€7,203
new in 2025: €7,203
- Accrued charges and deferred income +€5,500
new in 2025: €5,500
- Financial charges +€8,811
up €8,811 (+1,004%), from €878 to €9,689
- Gross operating margin -€7,536
down €7,536 (-9.7%), from €78,054 to €70,517
- Taxes -€6,492
down €6,492 (-93.0%), from €6,983 to €491
- Depreciation +€5,316
up €5,316 (+17.2%), from €30,928 to €36,244
- Other operating charges +€1,485
up €1,485 (+95.3%), from €1,557 to €3,042
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 | €241,795 | €248,603 | +€6,808 | +2.8% |
| Fixed assets | 21/28 | €147,299 | €111,055 | -€36,244 | -24.6% |
| Intangible fixed assets | 21 | €122,800 | €92,100 | -€30,700 | -25.0% |
| Tangible fixed assets | 22/27 | €21,949 | €16,405 | -€5,544 | -25.3% |
| Leasing and similar rights | 25 | €21,949 | €16,405 | -€5,544 | -25.3% |
| Financial fixed assets | 28 | €2,550 | €2,550 | = | 0.0% |
| Current assets | 29/58 | €94,496 | €137,549 | +€43,053 | +45.6% |
| Amounts receivable within one year | 40/41 | €73,998 | €135,236 | +€61,238 | +82.8% |
| Trade receivables | 40 | €55,003 | €119,815 | +€64,813 | +118% |
| Other amounts receivable | 41 | €18,995 | €15,420 | -€3,575 | -18.8% |
| Cash at bank and in hand | 54/58 | €17,583 | €1,802 | -€15,781 | -89.8% |
| Deferred charges and accrued income | 490/1 | €2,915 | €511 | -€2,404 | -82.5% |
| Total equity and liabilities | 10/49 | €241,795 | €248,603 | +€6,808 | +2.8% |
| Equity | 10/15 | €52,802 | €53,860 | +€1,058 | +2.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €46,602 | €47,660 | +€1,058 | +2.3% |
| Distributable reserves | 133 | €46,602 | €47,660 | +€1,058 | +2.3% |
| Amounts payable | 17/49 | €188,992 | €194,743 | +€5,751 | +3.0% |
| Amounts payable after more than one year | 17 | €73,996 | €22,612 | -€51,384 | -69.4% |
| Financial debts | 170/4 | €73,996 | €22,612 | -€51,384 | -69.4% |
| Amounts payable within one year | 42/48 | €114,996 | €166,631 | +€51,635 | +44.9% |
| Current portion of amounts payable after more than one year | 42 | €27,569 | €43,070 | +€15,500 | +56.2% |
| Financial debts | 43 | - | €7,203 | +€7,203 | |
| Credit institutions | 430/8 | - | €7,203 | +€7,203 | |
| Trade debts | 44 | €44,875 | €83,496 | +€38,621 | +86.1% |
| Suppliers | 440/4 | €44,875 | €83,496 | +€38,621 | +86.1% |
| Advances received on contracts in progress | 46 | €1,815 | - | -€1,815 | |
| Taxes, remuneration and social security | 45 | €14,843 | €11,908 | -€2,934 | -19.8% |
| Taxes | 450/3 | €14,843 | €11,908 | -€2,934 | -19.8% |
| Other amounts payable | 47/48 | €25,894 | €20,954 | -€4,940 | -19.1% |
| Accrued charges and deferred income | 492/3 | - | €5,500 | +€5,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,928 | €36,244 | +€5,316 | +17.2% |
| Other operating charges | 640/8 | €1,557 | €3,042 | +€1,485 | +95.3% |
| Gross operating margin | 9900 | €78,054 | €70,517 | -€7,536 | -9.7% |
| Operating profit (loss) | 9901 | €45,568 | €31,231 | -€14,337 | -31.5% |
| Financial income | 75/76B | €0 | €6 | +€6 | +2,346% |
| Recurring financial income | 75 | €0 | €6 | +€6 | +2,346% |
| Financial charges | 65/66B | €878 | €9,689 | +€8,811 | +1,004% |
| Recurring financial charges | 65 | €878 | €9,689 | +€8,811 | +1,004% |
| Profit (loss) for the period before taxes | 9903 | €44,691 | €21,548 | -€23,143 | -51.8% |
| Income taxes | 67/77 | €6,983 | €491 | -€6,492 | -93.0% |
| Profit (loss) for the period | 9904 | €37,708 | €21,058 | -€16,651 | -44.2% |
| Profit (loss) for the period to be appropriated | 9905 | €37,708 | €21,058 | -€16,651 | -44.2% |
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 14 October 2026 via checked.be.