V-C-T: 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-T
Largest movements
- Receivables within one year +€45,568
up €45,568 (+335%), from €13,590 to €59,158
of which Trade receivables: +€24,080
- Tangible fixed assets +€18,075
up €18,075 (+4.4%), from €407,476 to €425,551
of which Furniture and vehicles: +€26,127
- Reserves +€80,000
up €80,000 (+6,724%), from €1,190 to €81,190
of which Distributable reserves: +€80,000
- Accrued charges and deferred income +€22,420
up €22,420 (+22.1%), from €101,588 to €124,008
- Tax, wage and social debts -€18,470
no longer reported in 2025 (was €18,470)
of which Taxes: -€9,331
- Debts after one year -€14,942
down €14,942 (-7.9%), from €190,342 to €175,400
- Trade debts -€12,875
down €12,875 (-7.6%), from €169,538 to €156,663
- Purchases and services +€137,177
up €137,177 (+25.1%), from €545,470 to €682,647
- Turnover +€99,534
up €99,534 (+10.0%), from €995,463 to €1.1m
- Gross operating margin -€37,643
down €37,643 (-8.4%), from €449,993 to €412,349
- Staff costs -€20,593
down €20,593 (-7.6%), from €271,450 to €250,857
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 | €801,005 | €870,846 | +€69,841 | +8.7% |
| Fixed assets | 21/28 | €407,751 | €426,155 | +€18,404 | +4.5% |
| Tangible fixed assets | 22/27 | €407,476 | €425,551 | +€18,075 | +4.4% |
| Land and buildings | 22 | €365,869 | €357,816 | -€8,052 | -2.2% |
| Furniture and vehicles | 24 | €41,607 | €67,734 | +€26,127 | +62.8% |
| Financial fixed assets | 28 | €275 | €604 | +€329 | +120% |
| Current assets | 29/58 | €393,254 | €444,691 | +€51,436 | +13.1% |
| Stocks and contracts in progress | 3 | €5,500 | €5,500 | = | 0.0% |
| Stocks | 30/36 | €5,500 | €5,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €13,590 | €59,158 | +€45,568 | +335% |
| Trade receivables | 40 | - | €24,080 | +€24,080 | |
| Other amounts receivable | 41 | €13,590 | €35,078 | +€21,487 | +158% |
| Cash at bank and in hand | 54/58 | €374,164 | €380,033 | +€5,868 | +1.6% |
| Total equity and liabilities | 10/49 | €801,005 | €870,846 | +€69,841 | +8.7% |
| Equity | 10/15 | €243,445 | €334,803 | +€91,358 | +37.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,190 | €81,190 | +€80,000 | +6,724% |
| Non-distributable reserves | 130/1 | €1,190 | €1,190 | = | 0.0% |
| Other | 1319 | €1,190 | €1,190 | = | 0.0% |
| Distributable reserves | 133 | - | €80,000 | +€80,000 | |
| Profit (loss) carried forward | 14 | €223,655 | €235,013 | +€11,358 | +5.1% |
| Amounts payable | 17/49 | €557,560 | €536,043 | -€21,517 | -3.9% |
| Amounts payable after more than one year | 17 | €190,342 | €175,400 | -€14,942 | -7.9% |
| Financial debts | 170/4 | €190,342 | €175,400 | -€14,942 | -7.9% |
| Amounts payable within one year | 42/48 | €265,631 | €236,635 | -€28,995 | -10.9% |
| Current portion of amounts payable after more than one year | 42 | €15,092 | €15,313 | +€221 | +1.5% |
| Trade debts | 44 | €169,538 | €156,663 | -€12,875 | -7.6% |
| Suppliers | 440/4 | €169,538 | €156,663 | -€12,875 | -7.6% |
| Advances received on contracts in progress | 46 | €1,050 | €1,050 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €18,470 | - | -€18,470 | |
| Taxes | 450/3 | €9,331 | - | -€9,331 | |
| Remuneration and social security | 454/9 | €9,139 | - | -€9,139 | |
| Other amounts payable | 47/48 | €61,481 | €63,609 | +€2,128 | +3.5% |
| Accrued charges and deferred income | 492/3 | €101,588 | €124,008 | +€22,420 | +22.1% |
| Turnover | 70 | €995,463 | €1,094,997 | +€99,534 | +10.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €545,470 | €682,647 | +€137,177 | +25.1% |
| Remuneration, social security and pensions | 62 | €271,450 | €250,857 | -€20,593 | -7.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,204 | €29,434 | +€2,230 | +8.2% |
| Other operating charges | 640/8 | €2,565 | €3,865 | +€1,300 | +50.7% |
| Non-recurring operating charges | 66A | €2,404 | - | -€2,404 | |
| Gross operating margin | 9900 | €449,993 | €412,349 | -€37,643 | -8.4% |
| Operating profit (loss) | 9901 | €146,371 | €128,194 | -€18,177 | -12.4% |
| Financial charges | 65/66B | €3,388 | €3,336 | -€52 | -1.5% |
| Recurring financial charges | 65 | €3,388 | €3,336 | -€52 | -1.5% |
| Profit (loss) for the period before taxes | 9903 | €142,982 | €124,858 | -€18,125 | -12.7% |
| Income taxes | 67/77 | €28,500 | €30,500 | +€2,000 | +7.0% |
| Profit (loss) for the period | 9904 | €114,482 | €94,358 | -€20,125 | -17.6% |
| Profit (loss) for the period to be appropriated | 9905 | €114,482 | €94,358 | -€20,125 | -17.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.