V.G. TRADING: 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. TRADING
Largest movements
- Stocks and contracts -€874,779
down €874,779 (-25.0%), from €3.5m to €2.6m
- Short-term financial debts -€686,468
down €686,468 (-28.2%), from €2.4m to €1.7m
- Other debts -€140,248
down €140,248 (-29.4%), from €476,540 to €336,292
- Reserves -€86,638
down €86,638 (-12.6%), from €688,035 to €601,397
of which Distributable reserves: -€86,638
- Gross operating margin -€96,522
down €96,522 (-91.1%), from €105,985 to €9,463
- Financial charges +€32,479
up €32,479 (+72.7%), from €44,703 to €77,183
- Other operating charges +€9,632
up €9,632 (+245%), from €3,932 to €13,565
- Staff costs +€2,876
up €2,876 (+116%), from €2,478 to €5,354
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 | €3,670,781 | €2,772,458 | -€898,323 | -24.5% |
| Fixed assets | 21/28 | €142,831 | €142,831 | = | 0.0% |
| Tangible fixed assets | 22/27 | €142,821 | €142,821 | = | 0.0% |
| Land and buildings | 22 | €142,821 | €142,821 | = | 0.0% |
| Financial fixed assets | 28 | €11 | €11 | = | 0.0% |
| Current assets | 29/58 | €3,527,950 | €2,629,627 | -€898,323 | -25.5% |
| Stocks and contracts in progress | 3 | €3,492,652 | €2,617,873 | -€874,779 | -25.0% |
| Stocks | 30/36 | €3,492,652 | €2,617,873 | -€874,779 | -25.0% |
| Amounts receivable within one year | 40/41 | - | €186 | +€186 | |
| Trade receivables | 40 | - | €186 | +€186 | |
| Cash at bank and in hand | 54/58 | €33,555 | €11,568 | -€21,987 | -65.5% |
| Deferred charges and accrued income | 490/1 | €1,742 | €0 | -€1,742 | -100% |
| Total equity and liabilities | 10/49 | €3,670,781 | €2,772,458 | -€898,323 | -24.5% |
| Equity | 10/15 | €750,035 | €663,397 | -€86,638 | -11.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €688,035 | €601,397 | -€86,638 | -12.6% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €681,835 | €595,197 | -€86,638 | -12.7% |
| Amounts payable | 17/49 | €2,920,746 | €2,109,062 | -€811,685 | -27.8% |
| Amounts payable within one year | 42/48 | €2,911,576 | €2,096,802 | -€814,774 | -28.0% |
| Financial debts | 43 | €2,433,421 | €1,746,953 | -€686,468 | -28.2% |
| Credit institutions | 430/8 | €2,433,421 | €1,746,953 | -€686,468 | -28.2% |
| Trade debts | 44 | €1,469 | €12,857 | +€11,388 | +775% |
| Suppliers | 440/4 | €1,469 | €12,857 | +€11,388 | +775% |
| Taxes, remuneration and social security | 45 | €147 | €701 | +€554 | +378% |
| Remuneration and social security | 454/9 | €147 | €701 | +€554 | +378% |
| Other amounts payable | 47/48 | €476,540 | €336,292 | -€140,248 | -29.4% |
| Accrued charges and deferred income | 492/3 | €9,170 | €12,260 | +€3,089 | +33.7% |
| Remuneration, social security and pensions | 62 | €2,478 | €5,354 | +€2,876 | +116% |
| Other operating charges | 640/8 | €3,932 | €13,565 | +€9,632 | +245% |
| Gross operating margin | 9900 | €105,985 | €9,463 | -€96,522 | -91.1% |
| Operating profit (loss) | 9901 | €99,574 | -€9,455 | -€109,030 | |
| Financial income | 75/76B | €54 | €0 | -€54 | -100% |
| Recurring financial income | 75 | €54 | €0 | -€54 | -100% |
| Financial charges | 65/66B | €44,703 | €77,183 | +€32,479 | +72.7% |
| Recurring financial charges | 65 | €44,703 | €77,183 | +€32,479 | +72.7% |
| Profit (loss) for the period before taxes | 9903 | €54,925 | -€86,638 | -€141,564 | |
| Profit (loss) for the period | 9904 | €54,925 | -€86,638 | -€141,564 | |
| Profit (loss) for the period to be appropriated | 9905 | €54,925 | -€86,638 | -€141,564 |
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 14 October 2026 via checked.be.