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.
V & D
Largest movements
- Cash -€2,086
down €2,086 (-30.8%), from €6,771 to €4,685
mainly Deferred charges and accrued income (-€1,463) and Net result for the year (-€751)
- Deferred charges and accrued income +€1,463
up €1,463 (+55.1%), from €2,657 to €4,121
- Reserves -€500
down €500 (-4.6%), from €10,860 to €10,360
of which Distributable reserves: -€500
- Financial income +€133
up €133 (+10.0%), from €1,330 to €1,463
- Gross operating margin -€83
down €83 (-4.3%), from -€1,914 to -€1,997
- Financial charges -€39
down €39 (-21.8%), from €179 to €140
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 | €30,962 | €30,263 | -€699 | -2.3% |
| Fixed assets | 21/28 | €867 | €791 | -€76 | -8.8% |
| Tangible fixed assets | 22/27 | €867 | €791 | -€76 | -8.8% |
| Land and buildings | 22 | €867 | €791 | -€76 | -8.8% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €30,095 | €29,472 | -€623 | -2.1% |
| Amounts receivable after more than one year | 29 | €20,667 | €20,667 | = | 0.0% |
| Other amounts receivable | 291 | €20,667 | €20,667 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €6,771 | €4,685 | -€2,086 | -30.8% |
| Deferred charges and accrued income | 490/1 | €2,657 | €4,121 | +€1,463 | +55.1% |
| Total equity and liabilities | 10/49 | €30,962 | €30,263 | -€699 | -2.3% |
| Equity | 10/15 | €30,009 | €29,258 | -€751 | -2.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €10,860 | €10,360 | -€500 | -4.6% |
| 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 | €9,000 | €8,500 | -€500 | -5.6% |
| Profit (loss) carried forward | 14 | €549 | €298 | -€251 | -45.7% |
| Amounts payable | 17/49 | €953 | €1,005 | +€52 | +5.4% |
| Amounts payable within one year | 42/48 | €940 | €1,005 | +€65 | +6.9% |
| Trade debts | 44 | €397 | €462 | +€65 | +16.3% |
| Suppliers | 440/4 | €397 | €462 | +€65 | +16.3% |
| Other amounts payable | 47/48 | €543 | €543 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €13 | €0 | -€13 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76 | €76 | = | 0.0% |
| Gross operating margin | 9900 | -€1,914 | -€1,997 | -€83 | -4.3% |
| Operating profit (loss) | 9901 | -€1,991 | -€2,074 | -€83 | -4.2% |
| Financial income | 75/76B | €1,330 | €1,463 | +€133 | +10.0% |
| Recurring financial income | 75 | €1,330 | €1,463 | +€133 | +10.0% |
| Financial charges | 65/66B | €179 | €140 | -€39 | -21.8% |
| Recurring financial charges | 65 | €179 | €140 | -€39 | -21.8% |
| Profit (loss) for the period before taxes | 9903 | -€840 | -€751 | +€89 | +10.6% |
| Profit (loss) for the period | 9904 | -€840 | -€751 | +€89 | +10.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€840 | -€751 | +€89 | +10.6% |
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 12 October 2026 via checked.be.