V.C.S.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.C.S.V.
Largest movements
- Cash +€4,626
up €4,626 (+13.9%), from €33,168 to €37,794
mainly Net result for the year (+€6,302) and Tax, wage and social debts (+€3,206)
- Stocks and contracts +€4,229
up €4,229 (+6.0%), from €70,855 to €75,084
- Deferred charges and accrued income -€2,512
down €2,512 (-84.7%), from €2,967 to €455
- Profit (loss) carried forward +€6,302
up €6,302 (+62.9%), from -€10,016 to -€3,714
- Current portion of long-term debt -€4,550
down €4,550 (-75.1%), from €6,061 to €1,511
- Tax, wage and social debts +€3,206
up €3,206 (+52.3%), from €6,126 to €9,332
of which Remuneration and social security: +€3,777
- Trade debts +€2,899
up €2,899 (+34.9%), from €8,299 to €11,198
- Debts after one year -€1,511
no longer reported in 2025 (was €1,511)
- Staff costs +€3,278
up €3,278 (+14.5%), from €22,664 to €25,942
- Gross operating margin -€1,045
down €1,045 (-3.0%), from €34,425 to €33,380
- Depreciation -€1,025
down €1,025 (-59.0%), from €1,737 to €712
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 | €139,517 | €145,863 | +€6,346 | +4.5% |
| Fixed assets | 21/28 | €5,414 | €4,702 | -€712 | -13.2% |
| Tangible fixed assets | 22/27 | €1,544 | €832 | -€712 | -46.1% |
| Furniture and vehicles | 24 | €561 | - | -€561 | |
| Other tangible fixed assets | 26 | €983 | €832 | -€151 | -15.4% |
| Financial fixed assets | 28 | €3,870 | €3,870 | = | 0.0% |
| Current assets | 29/58 | €134,103 | €141,161 | +€7,058 | +5.3% |
| Amounts receivable after more than one year | 29 | €20,000 | €20,000 | = | 0.0% |
| Other amounts receivable | 291 | €20,000 | €20,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €70,855 | €75,084 | +€4,229 | +6.0% |
| Stocks | 30/36 | €70,855 | €75,084 | +€4,229 | +6.0% |
| Amounts receivable within one year | 40/41 | €7,113 | €7,828 | +€715 | +10.1% |
| Other amounts receivable | 41 | €7,113 | €7,828 | +€715 | +10.1% |
| Cash at bank and in hand | 54/58 | €33,168 | €37,794 | +€4,626 | +13.9% |
| Deferred charges and accrued income | 490/1 | €2,967 | €455 | -€2,512 | -84.7% |
| Total equity and liabilities | 10/49 | €139,517 | €145,863 | +€6,346 | +4.5% |
| Equity | 10/15 | €117,520 | €123,822 | +€6,302 | +5.4% |
| Contributions | 10/11 | €65,000 | €65,000 | = | 0.0% |
| Reserves | 13 | €62,536 | €62,536 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,689 | €4,689 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,689 | €4,689 | = | 0.0% |
| Distributable reserves | 133 | €57,847 | €57,847 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,016 | -€3,714 | +€6,302 | +62.9% |
| Amounts payable | 17/49 | €21,997 | €22,041 | +€44 | +0.2% |
| Amounts payable after more than one year | 17 | €1,511 | - | -€1,511 | |
| Financial debts | 170/4 | €1,511 | - | -€1,511 | |
| Amounts payable within one year | 42/48 | €20,486 | €22,041 | +€1,555 | +7.6% |
| Current portion of amounts payable after more than one year | 42 | €6,061 | €1,511 | -€4,550 | -75.1% |
| Trade debts | 44 | €8,299 | €11,198 | +€2,899 | +34.9% |
| Suppliers | 440/4 | €8,299 | €11,198 | +€2,899 | +34.9% |
| Taxes, remuneration and social security | 45 | €6,126 | €9,332 | +€3,206 | +52.3% |
| Taxes | 450/3 | €2,652 | €2,081 | -€571 | -21.5% |
| Remuneration and social security | 454/9 | €3,474 | €7,251 | +€3,777 | +109% |
| Remuneration, social security and pensions | 62 | €22,664 | €25,942 | +€3,278 | +14.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,737 | €712 | -€1,025 | -59.0% |
| Other operating charges | 640/8 | €62 | €112 | +€50 | +80.6% |
| Non-recurring operating charges | 66A | - | €44 | +€44 | |
| Gross operating margin | 9900 | €34,425 | €33,380 | -€1,045 | -3.0% |
| Operating profit (loss) | 9901 | €9,962 | €6,570 | -€3,392 | -34.0% |
| Financial income | 75/76B | €923 | €1,205 | +€282 | +30.6% |
| Recurring financial income | 75 | €923 | €1,205 | +€282 | +30.6% |
| Financial charges | 65/66B | €1,290 | €1,243 | -€47 | -3.6% |
| Recurring financial charges | 65 | €1,290 | €1,243 | -€47 | -3.6% |
| Profit (loss) for the period before taxes | 9903 | €9,595 | €6,532 | -€3,063 | -31.9% |
| Income taxes | 67/77 | €221 | €230 | +€9 | +4.1% |
| Profit (loss) for the period | 9904 | €9,374 | €6,302 | -€3,072 | -32.8% |
| Profit (loss) for the period to be appropriated | 9905 | €9,374 | €6,302 | -€3,072 | -32.8% |
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 18 October 2026 via checked.be.