V-CLIMA: 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-CLIMA
Largest movements
- Receivables within one year -€142,331
down €142,331 (-36.3%), from €392,546 to €250,215
of which Other amounts receivable: -€177,640
- Stocks and contracts +€56,250
up €56,250 (+26.1%), from €215,450 to €271,700
- Tangible fixed assets -€24,493
down €24,493 (-1.7%), from €1.4m to €1.4m
of which Land and buildings: -€28,746
- Reserves -€188,363
down €188,363 (-28.1%), from €670,225 to €481,862
of which Distributable reserves: -€188,363
- Debts after one year -€182,665
down €182,665 (-17.4%), from €1.0m to €866,651
- Other debts +€137,816
up €137,816 (+43.3%), from €318,390 to €456,206
- Trade debts +€59,210
up €59,210 (+58.3%), from €101,500 to €160,710
- Profit (loss) carried forward +€36,484
up €36,484 (+145%), from €25,090 to €61,574
- Gross operating margin +€206,752
up €206,752 (+13.9%), from €1.5m to €1.7m
- Staff costs +€197,444
up €197,444 (+19.3%), from €1.0m to €1.2m
- Taxes -€23,816
down €23,816 (-43.0%), from €55,360 to €31,544
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 | €2,318,780 | €2,209,894 | -€108,886 | -4.7% |
| Fixed assets | 21/28 | €1,428,209 | €1,394,120 | -€34,089 | -2.4% |
| Intangible fixed assets | 21 | €15,360 | €5,764 | -€9,596 | -62.5% |
| Tangible fixed assets | 22/27 | €1,410,506 | €1,386,013 | -€24,493 | -1.7% |
| Land and buildings | 22 | €1,317,233 | €1,288,487 | -€28,746 | -2.2% |
| Plant, machinery and equipment | 23 | €55,900 | €42,906 | -€12,994 | -23.2% |
| Furniture and vehicles | 24 | €37,373 | €54,620 | +€17,247 | +46.1% |
| Financial fixed assets | 28 | €2,343 | €2,343 | = | 0.0% |
| Current assets | 29/58 | €890,571 | €815,774 | -€74,797 | -8.4% |
| Stocks and contracts in progress | 3 | €215,450 | €271,700 | +€56,250 | +26.1% |
| Stocks | 30/36 | €215,450 | €271,700 | +€56,250 | +26.1% |
| Amounts receivable within one year | 40/41 | €392,546 | €250,215 | -€142,331 | -36.3% |
| Trade receivables | 40 | €152,450 | €187,759 | +€35,309 | +23.2% |
| Other amounts receivable | 41 | €240,096 | €62,456 | -€177,640 | -74.0% |
| Cash at bank and in hand | 54/58 | €269,861 | €284,966 | +€15,105 | +5.6% |
| Deferred charges and accrued income | 490/1 | €12,714 | €8,893 | -€3,821 | -30.1% |
| Total equity and liabilities | 10/49 | €2,318,780 | €2,209,894 | -€108,886 | -4.7% |
| Equity | 10/15 | €713,915 | €562,036 | -€151,879 | -21.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €670,225 | €481,862 | -€188,363 | -28.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €668,365 | €480,002 | -€188,363 | -28.2% |
| Profit (loss) carried forward | 14 | €25,090 | €61,574 | +€36,484 | +145% |
| Amounts payable | 17/49 | €1,604,865 | €1,647,858 | +€42,993 | +2.7% |
| Amounts payable after more than one year | 17 | €1,049,316 | €866,651 | -€182,665 | -17.4% |
| Financial debts | 170/4 | €1,049,316 | €866,651 | -€182,665 | -17.4% |
| Amounts payable within one year | 42/48 | €555,549 | €781,207 | +€225,658 | +40.6% |
| Current portion of amounts payable after more than one year | 42 | €42,910 | €76,658 | +€33,748 | +78.6% |
| Financial debts | 43 | €7,428 | €257 | -€7,171 | -96.5% |
| Credit institutions | 430/8 | €7,428 | €257 | -€7,171 | -96.5% |
| Trade debts | 44 | €101,500 | €160,710 | +€59,210 | +58.3% |
| Suppliers | 440/4 | €101,500 | €160,710 | +€59,210 | +58.3% |
| Taxes, remuneration and social security | 45 | €85,321 | €87,376 | +€2,055 | +2.4% |
| Taxes | 450/3 | €18,457 | €9,189 | -€9,268 | -50.2% |
| Remuneration and social security | 454/9 | €66,864 | €78,187 | +€11,323 | +16.9% |
| Other amounts payable | 47/48 | €318,390 | €456,206 | +€137,816 | +43.3% |
| Non-recurring operating income | 76A | €2,730 | €790 | -€1,940 | -71.1% |
| Remuneration, social security and pensions | 62 | €1,023,135 | €1,220,579 | +€197,444 | +19.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,896 | €86,101 | +€15,205 | +21.4% |
| Other operating charges | 640/8 | €10,262 | €17,400 | +€7,138 | +69.6% |
| Non-recurring operating charges | 66A | €3,273 | €2,404 | -€869 | -26.6% |
| Gross operating margin | 9900 | €1,487,522 | €1,694,274 | +€206,752 | +13.9% |
| Operating profit (loss) | 9901 | €379,956 | €367,790 | -€12,166 | -3.2% |
| Financial income | 75/76B | €8,090 | €7,673 | -€417 | -5.2% |
| Recurring financial income | 75 | €8,090 | €7,673 | -€417 | -5.2% |
| Financial charges | 65/66B | €54,631 | €57,436 | +€2,805 | +5.1% |
| Recurring financial charges | 65 | €54,631 | €57,436 | +€2,805 | +5.1% |
| Profit (loss) for the period before taxes | 9903 | €333,415 | €318,027 | -€15,388 | -4.6% |
| Income taxes | 67/77 | €55,360 | €31,544 | -€23,816 | -43.0% |
| Profit (loss) for the period | 9904 | €278,055 | €286,483 | +€8,428 | +3.0% |
| Profit (loss) for the period to be appropriated | 9905 | €278,055 | €286,483 | +€8,428 | +3.0% |
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.