V Concepts: 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 Concepts
Largest movements
- Cash +€132,280
up €132,280 (+138.3%), from €95,656 to €227,936
mainly Trade debts (+€123,594) and Depreciation (+€28,536)
- Tangible fixed assets +€31,687
up €31,687 (+28.2%), from €112,189 to €143,877
of which Furniture and vehicles: +€54,465
- Receivables within one year -€19,777
down €19,777 (-5.2%), from €380,692 to €360,915
of which Trade receivables: -€28,615
- Trade debts +€123,594
up €123,594 (+2961.8%), from €4,173 to €127,767
- Debts after one year +€28,004
up €28,004 (+7.7%), from €364,720 to €392,724
- Accrued charges and deferred income -€15,028
no longer reported in 2025 (was €15,028)
- Depreciation -€15,629
down €15,629 (-35.4%), from €44,165 to €28,536
- Gross operating margin -€8,974
down €8,974 (-12.2%), from €73,841 to €64,867
- Staff costs +€6,784
up €6,784 (+141.0%), from €4,810 to €11,594
- Financial charges -€2,028
down €2,028 (-11.9%), from €17,099 to €15,071
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 | €608,508 | €750,845 | +€142,337 | +23.4% |
| Fixed assets | 21/28 | €113,089 | €144,777 | +€31,687 | +28.0% |
| Tangible fixed assets | 22/27 | €112,189 | €143,877 | +€31,687 | +28.2% |
| Land and buildings | 22 | €110,936 | €89,250 | -€21,685 | -19.5% |
| Plant, machinery and equipment | 23 | €1,254 | €162 | -€1,092 | -87.1% |
| Furniture and vehicles | 24 | - | €54,465 | +€54,465 | |
| Financial fixed assets | 28 | €900 | €900 | = | 0.0% |
| Current assets | 29/58 | €495,419 | €606,069 | +€110,650 | +22.3% |
| Stocks and contracts in progress | 3 | €14,813 | €12,827 | -€1,986 | -13.4% |
| Stocks | 30/36 | €14,813 | €12,827 | -€1,986 | -13.4% |
| Amounts receivable within one year | 40/41 | €380,692 | €360,915 | -€19,777 | -5.2% |
| Trade receivables | 40 | €359,350 | €330,736 | -€28,615 | -8.0% |
| Other amounts receivable | 41 | €21,342 | €30,180 | +€8,838 | +41.4% |
| Cash at bank and in hand | 54/58 | €95,656 | €227,936 | +€132,280 | +138.3% |
| Deferred charges and accrued income | 490/1 | €4,258 | €4,391 | +€133 | +3.1% |
| Total equity and liabilities | 10/49 | €608,508 | €750,845 | +€142,337 | +23.4% |
| Equity | 10/15 | €216,162 | €222,439 | +€6,277 | +2.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €203,762 | €210,039 | +€6,277 | +3.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €11,798 | €11,798 | = | 0.0% |
| Distributable reserves | 133 | €190,104 | €196,381 | +€6,277 | +3.3% |
| Amounts payable | 17/49 | €392,346 | €528,406 | +€136,060 | +34.7% |
| Amounts payable after more than one year | 17 | €364,720 | €392,724 | +€28,004 | +7.7% |
| Financial debts | 170/4 | €364,720 | €392,724 | +€28,004 | +7.7% |
| Amounts payable within one year | 42/48 | €12,599 | €135,682 | +€123,083 | +976.9% |
| Trade debts | 44 | €4,173 | €127,767 | +€123,594 | +2961.8% |
| Suppliers | 440/4 | €4,173 | €127,767 | +€123,594 | +2961.8% |
| Taxes, remuneration and social security | 45 | €8,426 | €7,916 | -€510 | -6.1% |
| Taxes | 450/3 | €8,426 | €7,916 | -€510 | -6.1% |
| Accrued charges and deferred income | 492/3 | €15,028 | - | -€15,028 | |
| Remuneration, social security and pensions | 62 | €4,810 | €11,594 | +€6,784 | +141.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,165 | €28,536 | -€15,629 | -35.4% |
| Other operating charges | 640/8 | €251 | €616 | +€364 | +145.0% |
| Gross operating margin | 9900 | €73,841 | €64,867 | -€8,974 | -12.2% |
| Operating profit (loss) | 9901 | €24,614 | €24,121 | -€493 | -2.0% |
| Financial income | 75/76B | €463 | €713 | +€250 | +53.9% |
| Recurring financial income | 75 | €463 | €713 | +€250 | +53.9% |
| Financial charges | 65/66B | €17,099 | €15,071 | -€2,028 | -11.9% |
| Recurring financial charges | 65 | €17,099 | €15,071 | -€2,028 | -11.9% |
| Profit (loss) for the period before taxes | 9903 | €7,978 | €9,763 | +€1,785 | +22.4% |
| Income taxes | 67/77 | €3,492 | €3,486 | -€6 | -0.2% |
| Profit (loss) for the period | 9904 | €4,487 | €6,277 | +€1,791 | +39.9% |
| Profit (loss) for the period to be appropriated | 9905 | €4,487 | €6,277 | +€1,791 | +39.9% |
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 1 October 2026 via checked.be.