V-FIGUUR: 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-FIGUUR
Largest movements
- Tangible fixed assets -€32,215
down €32,215 (-12.5%), from €258,095 to €225,880
of which Plant, machinery and equipment: -€23,878
- Financial fixed assets +€21,185
up €21,185 (+363.8%), from €5,824 to €27,009
- Profit (loss) carried forward -€22,308
down €22,308 (-23.1%), from -€96,517 to -€118,825
- Other debts +€11,740
up €11,740 (+3.3%), from €357,834 to €369,574
- Gross operating margin +€9,876
up €9,876 (+315.0%), from €3,135 to €13,011
- Depreciation +€8,337
up €8,337 (+34.9%), from €23,878 to €32,215
- Financial charges +€1,426
up €1,426 (+91.5%), from €1,558 to €2,984
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 | €274,445 | €264,955 | -€9,490 | -3.5% |
| Fixed assets | 21/28 | €263,919 | €252,888 | -€11,031 | -4.2% |
| Tangible fixed assets | 22/27 | €258,095 | €225,880 | -€32,215 | -12.5% |
| Land and buildings | 22 | €153,373 | €145,036 | -€8,337 | -5.4% |
| Plant, machinery and equipment | 23 | €104,722 | €80,844 | -€23,878 | -22.8% |
| Financial fixed assets | 28 | €5,824 | €27,009 | +€21,185 | +363.8% |
| Current assets | 29/58 | €10,526 | €12,066 | +€1,541 | +14.6% |
| Amounts receivable within one year | 40/41 | €10,310 | €11,780 | +€1,470 | +14.3% |
| Trade receivables | 40 | €5,000 | €11,780 | +€6,780 | +135.6% |
| Other amounts receivable | 41 | €5,310 | - | -€5,310 | |
| Cash at bank and in hand | 54/58 | - | €286 | +€286 | |
| Deferred charges and accrued income | 490/1 | €216 | - | -€216 | |
| Total equity and liabilities | 10/49 | €274,445 | €264,955 | -€9,490 | -3.5% |
| Equity | 10/15 | -€94,017 | -€116,325 | -€22,308 | -23.7% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€96,517 | -€118,825 | -€22,308 | -23.1% |
| Amounts payable | 17/49 | €368,462 | €381,280 | +€12,818 | +3.5% |
| Amounts payable within one year | 42/48 | €368,462 | €381,280 | +€12,818 | +3.5% |
| Financial debts | 43 | €5 | - | -€5 | |
| Credit institutions | 430/8 | €5 | - | -€5 | |
| Taxes, remuneration and social security | 45 | €10,624 | €11,706 | +€1,082 | +10.2% |
| Taxes | 450/3 | €10,624 | €11,706 | +€1,082 | +10.2% |
| Other amounts payable | 47/48 | €357,834 | €369,574 | +€11,740 | +3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,878 | €32,215 | +€8,337 | +34.9% |
| Other operating charges | 640/8 | €118 | €120 | +€2 | +1.7% |
| Gross operating margin | 9900 | €3,135 | €13,011 | +€9,876 | +315.0% |
| Operating profit (loss) | 9901 | -€20,861 | -€19,325 | +€1,536 | +7.4% |
| Financial income | 75/76B | €8 | - | -€8 | |
| Recurring financial income | 75 | €8 | - | -€8 | |
| Financial charges | 65/66B | €1,558 | €2,984 | +€1,426 | +91.5% |
| Recurring financial charges | 65 | €1,558 | €2,984 | +€1,426 | +91.5% |
| Profit (loss) for the period before taxes | 9903 | -€22,411 | -€22,308 | +€103 | +0.5% |
| Profit (loss) for the period | 9904 | -€22,411 | -€22,308 | +€103 | +0.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€22,411 | -€22,308 | +€103 | +0.5% |
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 8 October 2026 via checked.be.