V en A: 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 en A
Largest movements
- Cash +€67,569
up €67,569 (+37.7%), from €179,159 to €246,728
mainly Net result for the year (+€53,991) and Other debts (+€23,788)
- Receivables within one year -€7,979
down €7,979 (-41.6%), from €19,179 to €11,200
of which Other amounts receivable: -€5,618
- Reserves +€53,900
up €53,900 (+30.3%), from €178,137 to €232,037
- Other debts +€23,788
up €23,788 (+2,486%), from €957 to €24,745
- Contributions -€18,592
no longer reported in 2025 (was €18,592)
- Tax, wage and social debts +€2,910
new in 2025: €2,910
- Gross operating margin +€3,117
up €3,117 (+4.2%), from €73,507 to €76,624
- Financial charges -€1,316
down €1,316 (-95.1%), from €1,383 to €68
- Taxes +€1,082
up €1,082 (+5.5%), from €19,827 to €20,910
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 | €201,118 | €260,527 | +€59,409 | +29.5% |
| Fixed assets | 21/28 | €906 | €860 | -€46 | -5.0% |
| Tangible fixed assets | 22/27 | €906 | €860 | -€46 | -5.0% |
| Furniture and vehicles | 24 | €906 | €860 | -€46 | -5.0% |
| Current assets | 29/58 | €200,212 | €259,667 | +€59,455 | +29.7% |
| Amounts receivable within one year | 40/41 | €19,179 | €11,200 | -€7,979 | -41.6% |
| Trade receivables | 40 | €13,211 | €10,850 | -€2,361 | -17.9% |
| Other amounts receivable | 41 | €5,968 | €350 | -€5,618 | -94.1% |
| Cash at bank and in hand | 54/58 | €179,159 | €246,728 | +€67,569 | +37.7% |
| Deferred charges and accrued income | 490/1 | €1,874 | €1,739 | -€135 | -7.2% |
| Total equity and liabilities | 10/49 | €201,118 | €260,527 | +€59,409 | +29.5% |
| Equity | 10/15 | €196,729 | €232,037 | +€35,308 | +17.9% |
| Contributions | 10/11 | €18,592 | - | -€18,592 | |
| Reserves | 13 | €178,137 | €232,037 | +€53,900 | +30.3% |
| Distributable reserves | 133 | €178,137 | €232,037 | +€53,900 | +30.3% |
| Profit (loss) carried forward | 14 | €0 | - | -€0 | |
| Amounts payable | 17/49 | €4,389 | €28,490 | +€24,101 | +549% |
| Amounts payable within one year | 42/48 | €4,389 | €28,490 | +€24,101 | +549% |
| Trade debts | 44 | €3,432 | €836 | -€2,596 | -75.6% |
| Suppliers | 440/4 | €3,432 | €836 | -€2,596 | -75.6% |
| Taxes, remuneration and social security | 45 | - | €2,910 | +€2,910 | |
| Taxes | 450/3 | - | €2,910 | +€2,910 | |
| Other amounts payable | 47/48 | €957 | €24,745 | +€23,788 | +2,486% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €679 | €654 | -€25 | -3.7% |
| Other operating charges | 640/8 | €743 | €1,003 | +€260 | +34.9% |
| Gross operating margin | 9900 | €73,507 | €76,624 | +€3,117 | +4.2% |
| Operating profit (loss) | 9901 | €72,085 | €74,968 | +€2,882 | +4.0% |
| Financial charges | 65/66B | €1,383 | €68 | -€1,316 | -95.1% |
| Recurring financial charges | 65 | €1,383 | €68 | -€1,316 | -95.1% |
| Profit (loss) for the period before taxes | 9903 | €70,702 | €74,900 | +€4,198 | +5.9% |
| Income taxes | 67/77 | €19,827 | €20,910 | +€1,082 | +5.5% |
| Profit (loss) for the period | 9904 | €50,875 | €53,991 | +€3,116 | +6.1% |
| Profit (loss) for the period to be appropriated | 9905 | €50,875 | €53,991 | +€3,116 | +6.1% |
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 20 October 2026 via checked.be.