V-cares: 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-cares
Largest movements
- Cash +€37,751
up €37,751 (+38.6%), from €97,756 to €135,507
mainly Other debts (+€460,080) and Net result for the year (+€113,505)
- Receivables within one year +€27,794
up €27,794 (+173%), from €16,027 to €43,821
of which Trade receivables: +€17,886
- Other debts +€460,080
up €460,080 (+375%), from €122,772 to €582,852
- Reserves -€346,495
down €346,495 (-99.8%), from €347,234 to €739
- Debts after one year -€48,257
down €48,257 (-10.3%), from €470,020 to €421,763
- Gross operating margin -€46,204
down €46,204 (-20.9%), from €221,108 to €174,904
- Financial income -€45,015
no longer reported in 2025 (was €45,015)
- Taxes -€10,957
down €10,957 (-21.5%), from €51,048 to €40,092
- Financial charges -€2,601
down €2,601 (-11.7%), from €22,135 to €19,534
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 | €1,001,153 | €1,067,690 | +€66,536 | +6.6% |
| Fixed assets | 21/28 | €886,897 | €886,703 | -€193 | 0.0% |
| Tangible fixed assets | 22/27 | €339 | €145 | -€193 | -57.1% |
| Furniture and vehicles | 24 | €339 | €145 | -€193 | -57.1% |
| Financial fixed assets | 28 | €886,558 | €886,558 | = | 0.0% |
| Current assets | 29/58 | €114,257 | €180,987 | +€66,730 | +58.4% |
| Amounts receivable within one year | 40/41 | €16,027 | €43,821 | +€27,794 | +173% |
| Trade receivables | 40 | - | €17,886 | +€17,886 | |
| Other amounts receivable | 41 | €16,027 | €25,935 | +€9,908 | +61.8% |
| Cash at bank and in hand | 54/58 | €97,756 | €135,507 | +€37,751 | +38.6% |
| Deferred charges and accrued income | 490/1 | €474 | €1,658 | +€1,184 | +250% |
| Total equity and liabilities | 10/49 | €1,001,153 | €1,067,690 | +€66,536 | +6.6% |
| Equity | 10/15 | €357,234 | €10,739 | -€346,495 | -97.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €347,234 | €739 | -€346,495 | -99.8% |
| Distributable reserves | 133 | €347,234 | €739 | -€346,495 | -99.8% |
| Amounts payable | 17/49 | €643,920 | €1,056,951 | +€413,031 | +64.1% |
| Amounts payable after more than one year | 17 | €470,020 | €421,763 | -€48,257 | -10.3% |
| Financial debts | 170/4 | €470,020 | €421,763 | -€48,257 | -10.3% |
| Amounts payable within one year | 42/48 | €173,900 | €635,046 | +€461,146 | +265% |
| Current portion of amounts payable after more than one year | 42 | €46,635 | €48,257 | +€1,622 | +3.5% |
| Trade debts | 44 | €168 | €711 | +€542 | +322% |
| Suppliers | 440/4 | €168 | €711 | +€542 | +322% |
| Taxes, remuneration and social security | 45 | €4,324 | €3,226 | -€1,098 | -25.4% |
| Taxes | 450/3 | €4,324 | €3,226 | -€1,098 | -25.4% |
| Other amounts payable | 47/48 | €122,772 | €582,852 | +€460,080 | +375% |
| Accrued charges and deferred income | 492/3 | - | €141 | +€141 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €193 | €193 | = | 0.0% |
| Other operating charges | 640/8 | €952 | €1,579 | +€627 | +65.9% |
| Gross operating margin | 9900 | €221,108 | €174,904 | -€46,204 | -20.9% |
| Operating profit (loss) | 9901 | €219,962 | €173,132 | -€46,831 | -21.3% |
| Financial income | 75/76B | €45,015 | - | -€45,015 | |
| Recurring financial income | 75 | €45,015 | - | -€45,015 | |
| Financial charges | 65/66B | €22,135 | €19,534 | -€2,601 | -11.7% |
| Recurring financial charges | 65 | €22,135 | €19,534 | -€2,601 | -11.7% |
| Profit (loss) for the period before taxes | 9903 | €242,842 | €153,597 | -€89,245 | -36.8% |
| Income taxes | 67/77 | €51,048 | €40,092 | -€10,957 | -21.5% |
| Profit (loss) for the period | 9904 | €191,794 | €113,505 | -€78,288 | -40.8% |
| Profit (loss) for the period to be appropriated | 9905 | €191,794 | €113,505 | -€78,288 | -40.8% |
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 21 October 2026 via checked.be.