V & D: 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.
What changed
V & D
NACE 46.861, Wholesale of diamonds and other precious stones
financial year 2025 compared with 2023not consecutivefiled annual accounts (NBB)
Net result for the year
€261,945
2023 · €33,962+€227,983
Equity
€1.2m
2023 · €920,482+€322,353
Cash
€8,778
2023 · €20,353-€11,575
Balance sheet total
€3.4m
2023 · €2.5m+€846,510
Largest movements
Assets
- Receivables within one year +€803,558
up €803,558 (+38.6%), from €2.1m to €2.9m
of which Trade receivables: +€806,785
- Stocks and contracts +€141,286
up €141,286 (+191%), from €73,843 to €215,129
- Tangible fixed assets -€86,759
down €86,759 (-25.1%), from €345,239 to €258,480
of which Other tangible fixed assets: -€44,716
Equity and liabilities
- Trade debts +€524,366
up €524,366 (+33.3%), from €1.6m to €2.1m
- Profit (loss) carried forward +€322,353
up €322,353 (+37.3%), from €864,861 to €1.2m
Income statement
- Goods and materials -€1.0m
down €1.0m (-8.1%), from €12.6m to €11.6m
- Turnover -€775,262
down €775,262 (-6.0%), from €12.9m to €12.1m
From the 2023 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.
Result 2023
€33,962
Turnover
-€775,262
Other operating income
+€600
Goods and materials
+€1.0m
Services and other goods
-€7,860
Depreciation
-€1,462
Other operating charges
-€6,000
Financial income
+€217
Financial charges
+€2,374
Taxes
-€3,319
Result 2025
€261,945
raises the resultlowers the result
Derived cash bridge
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,522,482 | €3,368,992 | +€846,510 | +33.6% |
| Fixed assets | 21/28 | €345,972 | €259,213 | -€86,759 | -25.1% |
| Tangible fixed assets | 22/27 | €345,239 | €258,480 | -€86,759 | -25.1% |
| Land and buildings | 22 | €155,785 | €131,126 | -€24,659 | -15.8% |
| Plant, machinery and equipment | 23 | €18,572 | €5,391 | -€13,181 | -71.0% |
| Furniture and vehicles | 24 | €6,108 | €1,905 | -€4,203 | -68.8% |
| Other tangible fixed assets | 26 | €164,774 | €120,058 | -€44,716 | -27.1% |
| Financial fixed assets | 28 | €733 | €733 | = | 0.0% |
| Other financial fixed assets | 284/8 | €733 | €733 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €733 | €733 | = | 0.0% |
| Current assets | 29/58 | €2,176,510 | €3,109,779 | +€933,269 | +42.9% |
| Stocks and contracts in progress | 3 | €73,843 | €215,129 | +€141,286 | +191% |
| Stocks | 30/36 | €73,843 | €215,129 | +€141,286 | +191% |
| Goods purchased for resale | 34 | €73,843 | €215,129 | +€141,286 | +191% |
| Amounts receivable within one year | 40/41 | €2,082,314 | €2,885,872 | +€803,558 | +38.6% |
| Trade receivables | 40 | €2,078,970 | €2,885,755 | +€806,785 | +38.8% |
| Other amounts receivable | 41 | €3,344 | €117 | -€3,227 | -96.5% |
| Cash at bank and in hand | 54/58 | €20,353 | €8,778 | -€11,575 | -56.9% |
| Total equity and liabilities | 10/49 | €2,522,482 | €3,368,992 | +€846,510 | +33.6% |
| Equity | 10/15 | €920,482 | €1,242,835 | +€322,353 | +35.0% |
| Contributions | 10/11 | €50,565 | €50,565 | = | 0.0% |
| Reserves | 13 | €5,056 | €5,056 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,056 | - | -€5,056 | |
| Reserves not available under the articles | 1311 | €5,056 | - | -€5,056 | |
| Distributable reserves | 133 | - | €5,056 | +€5,056 | |
| Profit (loss) carried forward | 14 | €864,861 | €1,187,214 | +€322,353 | +37.3% |
| Amounts payable | 17/49 | €1,602,000 | €2,126,157 | +€524,157 | +32.7% |
| Amounts payable within one year | 42/48 | €1,602,000 | €2,126,157 | +€524,157 | +32.7% |
| Trade debts | 44 | €1,576,037 | €2,100,403 | +€524,366 | +33.3% |
| Suppliers | 440/4 | €1,576,037 | €2,100,403 | +€524,366 | +33.3% |
| Taxes, remuneration and social security | 45 | €1,086 | €3,008 | +€1,922 | +177% |
| Taxes | 450/3 | €1,086 | €3,008 | +€1,922 | +177% |
| Other amounts payable | 47/48 | €24,877 | €22,746 | -€2,131 | -8.6% |
| Operating income | 70/76A | €12,871,082 | €12,096,420 | -€774,662 | -6.0% |
| Turnover | 70 | €12,870,662 | €12,095,400 | -€775,262 | -6.0% |
| Other operating income | 74 | €420 | €1,020 | +€600 | +143% |
| Operating charges | 60/66A | €12,807,469 | €11,804,096 | -€1.0m | -7.8% |
| Goods for resale, raw materials and consumables | 60 | €12,584,068 | €11,565,373 | -€1.0m | -8.1% |
| Change in stocks: decrease (increase) | 609 | -€73,843 | €181,579 | +€255,422 | |
| Services and other goods | 61 | €174,386 | €182,246 | +€7,860 | +4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,063 | €46,525 | +€1,462 | +3.2% |
| Other operating charges | 640/8 | €3,952 | €9,952 | +€6,000 | +152% |
| Operating profit (loss) | 9901 | €63,613 | €292,324 | +€228,711 | +360% |
| Recurring financial income | 75 | €18 | €235 | +€217 | +1,206% |
| Other financial income | 752/9 | €18 | €235 | +€217 | +1,206% |
| Financial charges | 65/66B | €8,154 | €5,780 | -€2,374 | -29.1% |
| Recurring financial charges | 65 | €8,154 | €5,780 | -€2,374 | -29.1% |
| Debt charges | 650 | €7,223 | €5,486 | -€1,737 | -24.0% |
| Other financial charges | 652/9 | €931 | €294 | -€637 | -68.4% |
| Profit (loss) for the period before taxes | 9903 | €55,477 | €286,779 | +€231,302 | +417% |
| Income taxes | 67/77 | €21,515 | €24,834 | +€3,319 | +15.4% |
| Taxes | 670/3 | €21,515 | €24,912 | +€3,397 | +15.8% |
| Tax adjustments and reversals of tax provisions | 77 | - | €78 | +€78 | |
| Profit (loss) for the period | 9904 | €33,962 | €261,945 | +€227,983 | +671% |
| Profit (loss) for the period to be appropriated | 9905 | €33,962 | €261,945 | +€227,983 | +671% |
Source: filed annual accounts (NBB), financial years ended 31 March 2023 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.