V-Green: 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-Green
Largest movements
- Cash +€85,729
up €85,729 (+117%), from €73,287 to €159,016
mainly Depreciation (+€60,943) and Net result for the year (+€47,947)
- Receivables within one year -€37,726
down €37,726 (-23.5%), from €160,503 to €122,778
of which Other amounts receivable: -€34,058
- Tangible fixed assets -€25,288
down €25,288 (-11.4%), from €222,361 to €197,073
of which Furniture and vehicles: -€45,923
- Stocks and contracts -€9,495
down €9,495 (-74.4%), from €12,760 to €3,266
of which Contracts in progress: -€10,000
- Reserves +€47,947
up €47,947 (+18.2%), from €262,754 to €310,701
of which Distributable reserves: +€47,947
- Debts after one year -€35,400
down €35,400 (-26.1%), from €135,700 to €100,300
- Current portion of long-term debt -€10,487
down €10,487 (-22.9%), from €45,887 to €35,400
- Tax, wage and social debts +€8,299
up €8,299 (+48.9%), from €16,963 to €25,263
of which Taxes: +€9,288
- Staff costs -€49,248
down €49,248 (-50.6%), from €97,268 to €48,020
- Depreciation +€32,409
up €32,409 (+114%), from €28,534 to €60,943
- Gross operating margin +€11,933
up €11,933 (+6.6%), from €182,028 to €193,961
- Taxes +€7,011
up €7,011 (+69.9%), from €10,025 to €17,036
- Financial charges +€4,706
up €4,706 (+264%), from €1,781 to €6,487
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 | €478,867 | €489,274 | +€10,407 | +2.2% |
| Fixed assets | 21/28 | €222,516 | €197,073 | -€25,443 | -11.4% |
| Intangible fixed assets | 21 | €155 | - | -€155 | |
| Tangible fixed assets | 22/27 | €222,361 | €197,073 | -€25,288 | -11.4% |
| Plant, machinery and equipment | 23 | €36,189 | €56,825 | +€20,636 | +57.0% |
| Furniture and vehicles | 24 | €186,171 | €140,248 | -€45,923 | -24.7% |
| Current assets | 29/58 | €256,351 | €292,200 | +€35,850 | +14.0% |
| Stocks and contracts in progress | 3 | €12,760 | €3,266 | -€9,495 | -74.4% |
| Stocks | 30/36 | €2,760 | €3,266 | +€505 | +18.3% |
| Contracts in progress | 37 | €10,000 | - | -€10,000 | |
| Amounts receivable within one year | 40/41 | €160,503 | €122,778 | -€37,726 | -23.5% |
| Trade receivables | 40 | €119,155 | €115,486 | -€3,668 | -3.1% |
| Other amounts receivable | 41 | €41,349 | €7,291 | -€34,058 | -82.4% |
| Cash at bank and in hand | 54/58 | €73,287 | €159,016 | +€85,729 | +117% |
| Deferred charges and accrued income | 490/1 | €9,800 | €7,141 | -€2,660 | -27.1% |
| Total equity and liabilities | 10/49 | €478,867 | €489,274 | +€10,407 | +2.2% |
| Equity | 10/15 | €268,954 | €316,901 | +€47,947 | +17.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €262,754 | €310,701 | +€47,947 | +18.2% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €244,004 | €291,951 | +€47,947 | +19.7% |
| Amounts payable | 17/49 | €209,912 | €172,372 | -€37,540 | -17.9% |
| Amounts payable after more than one year | 17 | €135,700 | €100,300 | -€35,400 | -26.1% |
| Financial debts | 170/4 | €135,700 | €100,300 | -€35,400 | -26.1% |
| Amounts payable within one year | 42/48 | €74,067 | €71,819 | -€2,248 | -3.0% |
| Current portion of amounts payable after more than one year | 42 | €45,887 | €35,400 | -€10,487 | -22.9% |
| Trade debts | 44 | €3,699 | €1,594 | -€2,104 | -56.9% |
| Suppliers | 440/4 | €3,699 | €1,594 | -€2,104 | -56.9% |
| Advances received on contracts in progress | 46 | - | €105 | +€105 | |
| Taxes, remuneration and social security | 45 | €16,963 | €25,263 | +€8,299 | +48.9% |
| Taxes | 450/3 | €6,870 | €16,158 | +€9,288 | +135% |
| Remuneration and social security | 454/9 | €10,093 | €9,104 | -€989 | -9.8% |
| Other amounts payable | 47/48 | €7,518 | €9,457 | +€1,940 | +25.8% |
| Accrued charges and deferred income | 492/3 | €145 | €253 | +€108 | +74.2% |
| Remuneration, social security and pensions | 62 | €97,268 | €48,020 | -€49,248 | -50.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,534 | €60,943 | +€32,409 | +114% |
| Other operating charges | 640/8 | €1,516 | €1,666 | +€150 | +9.9% |
| Non-recurring operating charges | 66A | €3,241 | €11,900 | +€8,659 | +267% |
| Gross operating margin | 9900 | €182,028 | €193,961 | +€11,933 | +6.6% |
| Operating profit (loss) | 9901 | €51,469 | €71,433 | +€19,964 | +38.8% |
| Financial income | 75/76B | €624 | €37 | -€587 | -94.1% |
| Recurring financial income | 75 | €624 | €37 | -€587 | -94.1% |
| Financial charges | 65/66B | €1,781 | €6,487 | +€4,706 | +264% |
| Recurring financial charges | 65 | €1,781 | €6,487 | +€4,706 | +264% |
| Profit (loss) for the period before taxes | 9903 | €50,312 | €64,983 | +€14,672 | +29.2% |
| Income taxes | 67/77 | €10,025 | €17,036 | +€7,011 | +69.9% |
| Profit (loss) for the period | 9904 | €40,287 | €47,947 | +€7,660 | +19.0% |
| Profit (loss) for the period to be appropriated | 9905 | €40,287 | €47,947 | +€7,660 | +19.0% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.