V. G.: 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. G.
Largest movements
- Tangible fixed assets +€84,939
up €84,939 (+26.2%), from €323,598 to €408,537
of which Land and buildings: +€84,939
- Receivables within one year +€22,886
up €22,886 (+53.8%), from €42,579 to €65,465
- Other debts +€69,000
up €69,000 (+25.3%), from €272,985 to €341,985
- Accrued charges and deferred income +€46,500
new in 2025: €46,500
- Trade debts -€7,432
down €7,432 (-94.0%), from €7,909 to €478
- Profit (loss) carried forward +€6,986
up €6,986 (+3.8%), from -€186,213 to -€179,227
- Depreciation +€5,020
up €5,020 (+46.9%), from €10,693 to €15,713
- Gross operating margin +€1,819
up €1,819 (+9.0%), from €20,236 to €22,055
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 | €368,438 | €478,648 | +€110,210 | +29.9% |
| Fixed assets | 21/28 | €323,598 | €408,537 | +€84,939 | +26.2% |
| Tangible fixed assets | 22/27 | €323,598 | €408,537 | +€84,939 | +26.2% |
| Land and buildings | 22 | €323,598 | €408,537 | +€84,939 | +26.2% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Financial fixed assets | 28 | - | €0 | = | |
| Current assets | 29/58 | €44,840 | €70,111 | +€25,272 | +56.4% |
| Amounts receivable within one year | 40/41 | €42,579 | €65,465 | +€22,886 | +53.8% |
| Other amounts receivable | 41 | €42,579 | €65,465 | +€22,886 | +53.8% |
| Cash at bank and in hand | 54/58 | €1,590 | €3,949 | +€2,359 | +148.4% |
| Deferred charges and accrued income | 490/1 | €671 | €697 | +€26 | +3.9% |
| Total equity and liabilities | 10/49 | €368,438 | €478,648 | +€110,210 | +29.9% |
| Equity | 10/15 | €62,550 | €69,536 | +€6,986 | +11.2% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Revaluation surpluses | 12 | €169,487 | €169,487 | = | 0.0% |
| Reserves | 13 | €17,776 | €17,776 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,099 | €3,099 | = | 0.0% |
| Legal reserve | 130 | €3,099 | €3,099 | = | 0.0% |
| Distributable reserves | 133 | €14,677 | €14,677 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€186,213 | -€179,227 | +€6,986 | +3.8% |
| Amounts payable | 17/49 | €305,888 | €409,112 | +€103,224 | +33.7% |
| Amounts payable after more than one year | 17 | €12,005 | €11,008 | -€997 | -8.3% |
| Financial debts | 170/4 | €11,505 | €9,308 | -€2,197 | -19.1% |
| Other amounts payable | 178/9 | €500 | €1,700 | +€1,200 | +240.0% |
| Amounts payable within one year | 42/48 | €293,883 | €351,604 | +€57,721 | +19.6% |
| Current portion of amounts payable after more than one year | 42 | €12,989 | €9,142 | -€3,847 | -29.6% |
| Trade debts | 44 | €7,909 | €478 | -€7,432 | -94.0% |
| Suppliers | 440/4 | €7,909 | €478 | -€7,432 | -94.0% |
| Other amounts payable | 47/48 | €272,985 | €341,985 | +€69,000 | +25.3% |
| Accrued charges and deferred income | 492/3 | - | €46,500 | +€46,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,693 | €15,713 | +€5,020 | +46.9% |
| Other operating charges | 640/8 | €35 | €214 | +€179 | +510.6% |
| Gross operating margin | 9900 | €20,236 | €22,055 | +€1,819 | +9.0% |
| Operating profit (loss) | 9901 | €9,508 | €6,129 | -€3,380 | -35.5% |
| Financial income | 75/76B | €1,963 | €1,989 | +€26 | +1.3% |
| Recurring financial income | 75 | €1,963 | €1,989 | +€26 | +1.3% |
| Financial charges | 65/66B | €1,083 | €1,132 | +€49 | +4.5% |
| Recurring financial charges | 65 | €1,083 | €1,132 | +€49 | +4.5% |
| Profit (loss) for the period before taxes | 9903 | €10,389 | €6,986 | -€3,403 | -32.8% |
| Profit (loss) for the period | 9904 | €10,389 | €6,986 | -€3,403 | -32.8% |
| Profit (loss) for the period to be appropriated | 9905 | €10,389 | €6,986 | -€3,403 | -32.8% |
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.