V Finance: 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 Finance
Largest movements
- Deferred charges and accrued income +€34,441
up €34,441 (+84063.3%), from €41 to €34,482
- Intangible fixed assets -€25,000
down €25,000 (-11.0%), from €227,459 to €202,459
- Receivables within one year +€12,612
up €12,612 (+19.8%), from €63,722 to €76,334
of which Trade receivables: +€13,810
- Other debts -€49,406
no longer reported in 2025 (was €49,406)
- Reserves +€29,034
up €29,034 (+401571.5%), from €7 to €29,041
- Short-term financial debts +€23,782
up €23,782 (+934.4%), from €2,545 to €26,327
- Tax, wage and social debts +€10,910
up €10,910 (+165.1%), from €6,607 to €17,517
of which Remuneration and social security: +€8,227
- Accrued charges and deferred income +€7,146
new in 2025: €7,146
- Gross operating margin +€113,127
up €113,127 (+106.5%), from €106,200 to €219,327
- Staff costs +€69,673
up €69,673 (+99.0%), from €70,342 to €140,015
- Taxes +€10,824
up €10,824 (+473.2%), from €2,287 to €13,111
- Financial charges +€3,231
up €3,231 (+36.5%), from €8,851 to €12,082
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €291,222 | €313,275 | +€22,053 | +7.6% |
| Fixed assets | 21/28 | €227,459 | €202,459 | -€25,000 | -11.0% |
| Intangible fixed assets | 21 | €227,459 | €202,459 | -€25,000 | -11.0% |
| Current assets | 29/58 | €63,763 | €110,816 | +€47,053 | +73.8% |
| Amounts receivable within one year | 40/41 | €63,722 | €76,334 | +€12,612 | +19.8% |
| Trade receivables | 40 | €62,523 | €76,334 | +€13,810 | +22.1% |
| Other amounts receivable | 41 | €1,198 | - | -€1,198 | |
| Deferred charges and accrued income | 490/1 | €41 | €34,482 | +€34,441 | +84063.3% |
| Total equity and liabilities | 10/49 | €291,222 | €313,275 | +€22,053 | +7.6% |
| Equity | 10/15 | €1,007 | €30,041 | +€29,034 | +2882.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €7 | €29,041 | +€29,034 | +401571.5% |
| Distributable reserves | 133 | €7 | €29,041 | +€29,034 | +401571.5% |
| Amounts payable | 17/49 | €290,214 | €283,234 | -€6,981 | -2.4% |
| Amounts payable after more than one year | 17 | €194,177 | €194,722 | +€545 | +0.3% |
| Financial debts | 170/4 | €194,177 | €194,722 | +€545 | +0.3% |
| Amounts payable within one year | 42/48 | €96,037 | €81,365 | -€14,672 | -15.3% |
| Current portion of amounts payable after more than one year | 42 | €30,823 | €35,003 | +€4,180 | +13.6% |
| Financial debts | 43 | €2,545 | €26,327 | +€23,782 | +934.4% |
| Credit institutions | 430/8 | €2,545 | €26,327 | +€23,782 | +934.4% |
| Trade debts | 44 | €6,656 | €2,519 | -€4,137 | -62.2% |
| Suppliers | 440/4 | €6,656 | €2,519 | -€4,137 | -62.2% |
| Taxes, remuneration and social security | 45 | €6,607 | €17,517 | +€10,910 | +165.1% |
| Taxes | 450/3 | €2,287 | €4,970 | +€2,683 | +117.3% |
| Remuneration and social security | 454/9 | €4,320 | €12,547 | +€8,227 | +190.4% |
| Other amounts payable | 47/48 | €49,406 | - | -€49,406 | |
| Accrued charges and deferred income | 492/3 | - | €7,146 | +€7,146 | |
| Remuneration, social security and pensions | 62 | €70,342 | €140,015 | +€69,673 | +99.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,017 | €25,000 | +€983 | +4.1% |
| Other operating charges | 640/8 | €704 | €265 | -€439 | -62.3% |
| Gross operating margin | 9900 | €106,200 | €219,327 | +€113,127 | +106.5% |
| Operating profit (loss) | 9901 | €11,137 | €54,047 | +€42,910 | +385.3% |
| Financial income | 75/76B | €9 | €180 | +€171 | +1892.1% |
| Recurring financial income | 75 | €9 | €180 | +€171 | +1892.1% |
| Financial charges | 65/66B | €8,851 | €12,082 | +€3,231 | +36.5% |
| Recurring financial charges | 65 | €8,851 | €12,082 | +€3,231 | +36.5% |
| Profit (loss) for the period before taxes | 9903 | €2,294 | €42,144 | +€39,850 | +1736.8% |
| Income taxes | 67/77 | €2,287 | €13,111 | +€10,824 | +473.2% |
| Profit (loss) for the period | 9904 | €7 | €29,034 | +€29,026 | +401471.5% |
| Profit (loss) for the period to be appropriated | 9905 | €7 | €29,034 | +€29,026 | +401471.5% |
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 7 October 2026 via checked.be.