V&C SERVICES: 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 SERVICES
Largest movements
- Receivables within one year +€17,218
up €17,218 (+73.7%), from €23,352 to €40,569
of which Trade receivables: +€16,564
- Tangible fixed assets -€13,102
down €13,102 (-5.5%), from €240,138 to €227,036
of which Furniture and vehicles: -€10,693
- Deferred charges and accrued income -€4,472
down €4,472 (-79.4%), from €5,635 to €1,162
- Cash +€2,902
up €2,902, from €0 to €2,902
mainly Net result for the year (+€33,262) and Depreciation (+€21,411)
- Reserves +€28,462
up €28,462 (+45.7%), from €62,321 to €90,783
of which Distributable reserves: +€28,462
- Other debts -€18,528
down €18,528 (-12.1%), from €153,100 to €134,573
- Short-term financial debts -€12,201
down €12,201 (-100.0%), from €12,201 to €0
- Trade debts +€9,762
up €9,762 (+113.9%), from €8,568 to €18,330
- Tax, wage and social debts -€5,030
down €5,030 (-53.6%), from €9,383 to €4,353
- Gross operating margin +€32,472
up €32,472 (+67.0%), from €48,444 to €80,916
- Taxes +€8,463
up €8,463 (+107.3%), from €7,884 to €16,347
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 | €269,724 | €272,270 | +€2,545 | +0.9% |
| Fixed assets | 21/28 | €240,738 | €227,636 | -€13,102 | -5.4% |
| Tangible fixed assets | 22/27 | €240,138 | €227,036 | -€13,102 | -5.5% |
| Land and buildings | 22 | €219,893 | €217,484 | -€2,409 | -1.1% |
| Furniture and vehicles | 24 | €11,245 | €552 | -€10,693 | -95.1% |
| Other tangible fixed assets | 26 | €9,000 | €9,000 | = | 0.0% |
| Financial fixed assets | 28 | €600 | €600 | = | 0.0% |
| Current assets | 29/58 | €28,986 | €44,633 | +€15,647 | +54.0% |
| Amounts receivable within one year | 40/41 | €23,352 | €40,569 | +€17,218 | +73.7% |
| Trade receivables | 40 | €21,198 | €37,762 | +€16,564 | +78.1% |
| Other amounts receivable | 41 | €2,154 | €2,807 | +€653 | +30.3% |
| Cash at bank and in hand | 54/58 | €0 | €2,902 | +€2,902 | |
| Deferred charges and accrued income | 490/1 | €5,635 | €1,162 | -€4,472 | -79.4% |
| Total equity and liabilities | 10/49 | €269,724 | €272,270 | +€2,545 | +0.9% |
| Equity | 10/15 | €80,921 | €109,383 | +€28,462 | +35.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €62,321 | €90,783 | +€28,462 | +45.7% |
| Tax-exempt reserves | 132 | €12,754 | €12,754 | = | 0.0% |
| Distributable reserves | 133 | €49,566 | €78,029 | +€28,462 | +57.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €188,804 | €162,887 | -€25,917 | -13.7% |
| Amounts payable within one year | 42/48 | €183,253 | €157,256 | -€25,997 | -14.2% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €12,201 | €0 | -€12,201 | -100.0% |
| Credit institutions | 430/8 | €12,201 | €0 | -€12,201 | -100.0% |
| Trade debts | 44 | €8,568 | €18,330 | +€9,762 | +113.9% |
| Suppliers | 440/4 | €8,568 | €18,330 | +€9,762 | +113.9% |
| Taxes, remuneration and social security | 45 | €9,383 | €4,353 | -€5,030 | -53.6% |
| Taxes | 450/3 | €9,383 | €4,353 | -€5,030 | -53.6% |
| Other amounts payable | 47/48 | €153,100 | €134,573 | -€18,528 | -12.1% |
| Accrued charges and deferred income | 492/3 | €5,551 | €5,631 | +€80 | +1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,055 | €21,411 | -€644 | -2.9% |
| Other operating charges | 640/8 | €3,962 | €4,114 | +€152 | +3.8% |
| Gross operating margin | 9900 | €48,444 | €80,916 | +€32,472 | +67.0% |
| Operating profit (loss) | 9901 | €22,427 | €55,391 | +€32,964 | +147.0% |
| Financial income | 75/76B | €14 | €41 | +€27 | +201.3% |
| Recurring financial income | 75 | €14 | €41 | +€27 | +201.3% |
| Financial charges | 65/66B | €5,564 | €5,824 | +€259 | +4.7% |
| Recurring financial charges | 65 | €5,564 | €5,824 | +€259 | +4.7% |
| Profit (loss) for the period before taxes | 9903 | €16,877 | €49,609 | +€32,732 | +194.0% |
| Income taxes | 67/77 | €7,884 | €16,347 | +€8,463 | +107.3% |
| Profit (loss) for the period | 9904 | €8,993 | €33,262 | +€24,269 | +269.9% |
| Profit (loss) for the period to be appropriated | 9905 | €8,993 | €33,262 | +€24,269 | +269.9% |
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 8 October 2026 via checked.be.