V ET V DIFFUSION: 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 ET V DIFFUSION
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Profit (loss) carried forward +€109,720
up €109,720 (+52.7%), from -€208,175 to -€98,454
- Tax, wage and social debts -€66,373
down €66,373 (-60.3%), from €110,095 to €43,722
of which Remuneration and social security: -€39,083
- Other debts -€23,952
down €23,952 (-10.8%), from €222,354 to €198,402
- Debts after one year -€18,199
down €18,199 (-5.2%), from €353,199 to €335,000
of which Financial debts: -€18,199
- Gross operating margin -€39,102
down €39,102 (-11.4%), from €343,708 to €304,606
- Staff costs +€24,774
up €24,774 (+15.9%), from €155,857 to €180,630
- Financial charges -€7,844
down €7,844 (-72.6%), from €10,810 to €2,966
- Other operating charges +€3,497
up €3,497 (+238.4%), from €1,467 to €4,964
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 | €640,152 | €635,197 | -€4,955 | -0.8% |
| Fixed assets | 21/28 | €61,088 | €63,236 | +€2,148 | +3.5% |
| Tangible fixed assets | 22/27 | €42,274 | €44,423 | +€2,148 | +5.1% |
| Plant, machinery and equipment | 23 | €37,260 | €34,914 | -€2,346 | -6.3% |
| Furniture and vehicles | 24 | €5,014 | €9,508 | +€4,495 | +89.6% |
| Financial fixed assets | 28 | €18,813 | €18,813 | = | 0.0% |
| Current assets | 29/58 | €579,064 | €571,961 | -€7,103 | -1.2% |
| Stocks and contracts in progress | 3 | €374,210 | €371,646 | -€2,564 | -0.7% |
| Stocks | 30/36 | €374,210 | €371,646 | -€2,564 | -0.7% |
| Amounts receivable within one year | 40/41 | €194,569 | €196,107 | +€1,538 | +0.8% |
| Trade receivables | 40 | €114,058 | €116,954 | +€2,896 | +2.5% |
| Other amounts receivable | 41 | €80,511 | €79,153 | -€1,358 | -1.7% |
| Cash at bank and in hand | 54/58 | €10,285 | €4,208 | -€6,077 | -59.1% |
| Total equity and liabilities | 10/49 | €640,152 | €635,197 | -€4,955 | -0.8% |
| Equity | 10/15 | -€187,715 | -€77,994 | +€109,720 | +58.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€208,175 | -€98,454 | +€109,720 | +52.7% |
| Amounts payable | 17/49 | €827,867 | €713,192 | -€114,675 | -13.9% |
| Amounts payable after more than one year | 17 | €353,199 | €335,000 | -€18,199 | -5.2% |
| Financial debts | 170/4 | €18,199 | - | -€18,199 | |
| Other amounts payable | 178/9 | €335,000 | €335,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €474,668 | €378,192 | -€96,476 | -20.3% |
| Current portion of amounts payable after more than one year | 42 | €129,307 | €123,914 | -€5,392 | -4.2% |
| Trade debts | 44 | €12,913 | €12,154 | -€759 | -5.9% |
| Suppliers | 440/4 | €12,913 | €12,154 | -€759 | -5.9% |
| Taxes, remuneration and social security | 45 | €110,095 | €43,722 | -€66,373 | -60.3% |
| Taxes | 450/3 | €56,524 | €29,234 | -€27,290 | -48.3% |
| Remuneration and social security | 454/9 | €53,571 | €14,487 | -€39,083 | -73.0% |
| Other amounts payable | 47/48 | €222,354 | €198,402 | -€23,952 | -10.8% |
| Remuneration, social security and pensions | 62 | €155,857 | €180,630 | +€24,774 | +15.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,165 | €6,325 | +€1,160 | +22.5% |
| Other operating charges | 640/8 | €1,467 | €4,964 | +€3,497 | +238.4% |
| Gross operating margin | 9900 | €343,708 | €304,606 | -€39,102 | -11.4% |
| Operating profit (loss) | 9901 | €181,219 | €112,687 | -€68,532 | -37.8% |
| Financial income | 75/76B | €3 | €0 | -€3 | -97.8% |
| Recurring financial income | 75 | €3 | €0 | -€3 | -97.8% |
| Financial charges | 65/66B | €10,810 | €2,966 | -€7,844 | -72.6% |
| Recurring financial charges | 65 | €10,810 | €2,966 | -€7,844 | -72.6% |
| Profit (loss) for the period before taxes | 9903 | €170,411 | €109,720 | -€60,691 | -35.6% |
| Profit (loss) for the period | 9904 | €170,411 | €109,720 | -€60,691 | -35.6% |
| Profit (loss) for the period to be appropriated | 9905 | €170,411 | €109,720 | -€60,691 | -35.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.