V.G. PARTNER: 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.G. PARTNER
Largest movements
- Receivables within one year +€77,748
up €77,748 (+12,068%), from €644 to €78,393
of which Trade receivables: +€71,737
- Tangible fixed assets +€45,601
up €45,601 (+10.5%), from €432,636 to €478,237
- Cash -€38,336
down €38,336 (-90.5%), from €42,361 to €4,025
mainly Receivables within one year (-€77,748) and Investment in fixed assets (net) (-€64,517)
- Intangible fixed assets -€10,000
down €10,000 (-14.3%), from €70,000 to €60,000
- Debts after one year +€51,008
up €51,008 (+12.5%), from €406,638 to €457,646
- Reserves +€27,000
up €27,000 (+103%), from €26,200 to €53,200
- Trade debts -€17,036
down €17,036 (-83.0%), from €20,517 to €3,481
- Current portion of long-term debt +€11,366
up €11,366 (+129%), from €8,790 to €20,155
- Gross operating margin +€78,378
up €78,378 (+321%), from €24,407 to €102,785
- Other operating charges -€30,109
down €30,109 (-87.0%), from €34,612 to €4,502
- Staff costs +€15,861
new in 2024: €15,861
- Depreciation +€6,691
up €6,691 (+28.5%), from €23,455 to €30,146
- Taxes +€2,664
up €2,664 (+891%), from €299 to €2,963
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €549,876 | €623,759 | +€73,883 | +13.4% |
| Fixed assets | 21/28 | €506,636 | €541,007 | +€34,371 | +6.8% |
| Intangible fixed assets | 21 | €70,000 | €60,000 | -€10,000 | -14.3% |
| Tangible fixed assets | 22/27 | €432,636 | €478,237 | +€45,601 | +10.5% |
| Land and buildings | 22 | €379,566 | €397,873 | +€18,307 | +4.8% |
| Plant, machinery and equipment | 23 | €52,124 | €73,112 | +€20,988 | +40.3% |
| Furniture and vehicles | 24 | €946 | €7,252 | +€6,306 | +667% |
| Financial fixed assets | 28 | €4,000 | €2,770 | -€1,230 | -30.8% |
| Current assets | 29/58 | €43,241 | €82,753 | +€39,512 | +91.4% |
| Amounts receivable within one year | 40/41 | €644 | €78,393 | +€77,748 | +12,068% |
| Trade receivables | 40 | €631 | €72,368 | +€71,737 | +11,366% |
| Other amounts receivable | 41 | €13 | €6,024 | +€6,011 | +45,993% |
| Cash at bank and in hand | 54/58 | €42,361 | €4,025 | -€38,336 | -90.5% |
| Deferred charges and accrued income | 490/1 | €235 | €335 | +€100 | +42.4% |
| Total equity and liabilities | 10/49 | €549,876 | €623,759 | +€73,883 | +13.4% |
| Equity | 10/15 | €13,194 | €40,252 | +€27,058 | +205% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €26,200 | €53,200 | +€27,000 | +103% |
| Distributable reserves | 133 | €26,200 | €53,200 | +€27,000 | +103% |
| Profit (loss) carried forward | 14 | -€16,006 | -€15,948 | +€58 | +0.4% |
| Amounts payable | 17/49 | €536,682 | €583,507 | +€46,825 | +8.7% |
| Amounts payable after more than one year | 17 | €406,638 | €457,646 | +€51,008 | +12.5% |
| Financial debts | 170/4 | €406,638 | €457,646 | +€51,008 | +12.5% |
| Amounts payable within one year | 42/48 | €130,044 | €125,862 | -€4,183 | -3.2% |
| Current portion of amounts payable after more than one year | 42 | €8,790 | €20,155 | +€11,366 | +129% |
| Trade debts | 44 | €20,517 | €3,481 | -€17,036 | -83.0% |
| Suppliers | 440/4 | €20,517 | €3,481 | -€17,036 | -83.0% |
| Advances received on contracts in progress | 46 | €1,651 | €817 | -€834 | -50.5% |
| Taxes, remuneration and social security | 45 | €24,510 | €27,200 | +€2,691 | +11.0% |
| Taxes | 450/3 | €24,510 | €25,681 | +€1,171 | +4.8% |
| Remuneration and social security | 454/9 | - | €1,519 | +€1,519 | |
| Other amounts payable | 47/48 | €74,577 | €74,208 | -€369 | -0.5% |
| Remuneration, social security and pensions | 62 | - | €15,861 | +€15,861 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,455 | €30,146 | +€6,691 | +28.5% |
| Other operating charges | 640/8 | €34,612 | €4,502 | -€30,109 | -87.0% |
| Gross operating margin | 9900 | €24,407 | €102,785 | +€78,378 | +321% |
| Operating profit (loss) | 9901 | -€33,659 | €52,276 | +€85,935 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -71.4% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -71.4% |
| Financial charges | 65/66B | €20,236 | €22,255 | +€2,019 | +10.0% |
| Recurring financial charges | 65 | €20,236 | €22,255 | +€2,019 | +10.0% |
| Profit (loss) for the period before taxes | 9903 | -€53,895 | €30,020 | +€83,916 | |
| Income taxes | 67/77 | €299 | €2,963 | +€2,664 | +891% |
| Profit (loss) for the period | 9904 | -€54,194 | €27,058 | +€81,252 | |
| Profit (loss) for the period to be appropriated | 9905 | -€54,194 | €27,058 | +€81,252 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.