V FOR YOU: 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 FOR YOU
Largest movements
- Cash +€43,587
up €43,587 (+50.3%), from €86,721 to €130,308
mainly Tax, wage and social debts (+€40,822) and Stocks and contracts (+€32,052)
- Stocks and contracts -€32,052
down €32,052 (-13.8%), from €232,520 to €200,468
- Receivables within one year +€8,189
up €8,189 (+4.3%), from €188,449 to €196,638
- Deferred charges and accrued income +€5,767
new in 2025: €5,767
- Tax, wage and social debts +€40,822
up €40,822 (+158%), from €25,814 to €66,636
of which Taxes: +€26,253
- Trade debts -€17,631
down €17,631 (-37.9%), from €46,574 to €28,943
- Staff costs +€7,833
up €7,833 (+5.1%), from €152,564 to €160,397
- Taxes +€3,841
new in 2025: €3,841
- Gross operating margin +€3,090
up €3,090 (+1.7%), from €178,474 to €181,564
- Financial charges +€2,541
up €2,541 (+75.2%), from €3,381 to €5,922
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 | €507,690 | €533,181 | +€25,491 | +5.0% |
| Fixed assets | 21/28 | €0 | - | = | |
| Intangible fixed assets | 21 | €0 | - | = | |
| Current assets | 29/58 | €507,690 | €533,181 | +€25,491 | +5.0% |
| Stocks and contracts in progress | 3 | €232,520 | €200,468 | -€32,052 | -13.8% |
| Stocks | 30/36 | €232,520 | €200,468 | -€32,052 | -13.8% |
| Amounts receivable within one year | 40/41 | €188,449 | €196,638 | +€8,189 | +4.3% |
| Trade receivables | 40 | €188,449 | €196,638 | +€8,189 | +4.3% |
| Cash at bank and in hand | 54/58 | €86,721 | €130,308 | +€43,587 | +50.3% |
| Deferred charges and accrued income | 490/1 | - | €5,767 | +€5,767 | |
| Total equity and liabilities | 10/49 | €507,690 | €533,181 | +€25,491 | +5.0% |
| Equity | 10/15 | €281,189 | €283,487 | +€2,298 | +0.8% |
| Contributions | 10/11 | €14,527 | €14,411 | -€116 | -0.8% |
| Capital | 10 | €14,527 | €14,411 | -€116 | -0.8% |
| Issued capital | 100 | €14,527 | €14,411 | -€116 | -0.8% |
| Reserves | 13 | €100,813 | €100,813 | = | 0.0% |
| Non-distributable reserves | 130/1 | €63,576 | €63,576 | = | 0.0% |
| Legal reserve | 130 | €1,453 | €1,453 | = | 0.0% |
| Other | 1319 | €62,123 | €62,123 | = | 0.0% |
| Tax-exempt reserves | 132 | €8,689 | €8,689 | = | 0.0% |
| Distributable reserves | 133 | €28,548 | €28,548 | = | 0.0% |
| Profit (loss) carried forward | 14 | €165,849 | €168,263 | +€2,414 | +1.5% |
| Amounts payable | 17/49 | €226,501 | €249,694 | +€23,193 | +10.2% |
| Amounts payable within one year | 42/48 | €226,501 | €249,694 | +€23,193 | +10.2% |
| Current portion of amounts payable after more than one year | 42 | €152,341 | €152,343 | +€2 | 0.0% |
| Trade debts | 44 | €46,574 | €28,943 | -€17,631 | -37.9% |
| Suppliers | 440/4 | €46,574 | €28,943 | -€17,631 | -37.9% |
| Taxes, remuneration and social security | 45 | €25,814 | €66,636 | +€40,822 | +158% |
| Taxes | 450/3 | €9,198 | €35,451 | +€26,253 | +285% |
| Remuneration and social security | 454/9 | €16,616 | €31,185 | +€14,569 | +87.7% |
| Other amounts payable | 47/48 | €1,772 | €1,772 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €152,564 | €160,397 | +€7,833 | +5.1% |
| Other operating charges | 640/8 | €10,111 | €8,990 | -€1,121 | -11.1% |
| Gross operating margin | 9900 | €178,474 | €181,564 | +€3,090 | +1.7% |
| Operating profit (loss) | 9901 | €15,799 | €12,177 | -€3,622 | -22.9% |
| Financial charges | 65/66B | €3,381 | €5,922 | +€2,541 | +75.2% |
| Recurring financial charges | 65 | €3,381 | €5,922 | +€2,541 | +75.2% |
| Profit (loss) for the period before taxes | 9903 | €12,418 | €6,255 | -€6,163 | -49.6% |
| Income taxes | 67/77 | - | €3,841 | +€3,841 | |
| Profit (loss) for the period | 9904 | €12,418 | €2,414 | -€10,004 | -80.6% |
| Profit (loss) for the period to be appropriated | 9905 | €12,418 | €2,414 | -€10,004 | -80.6% |
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 13 October 2026 via checked.be.