V-GROUPS: 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-GROUPS
Largest movements
- Tangible fixed assets +€50,626
up €50,626 (+1027.9%), from €4,925 to €55,551
of which Furniture and vehicles: +€51,146
- Receivables within one year -€31,968
down €31,968 (-65.4%), from €48,854 to €16,885
of which Trade receivables: -€35,624
- Cash +€21,453
up €21,453 (+200.4%), from €10,708 to €32,161
mainly Receivables within one year (+€31,968) and Debts after one year (+€30,708)
- Deferred charges and accrued income +€1,526
up €1,526 (+2180.4%), from €70 to €1,596
- Debts after one year +€30,708
new in 2025: €30,708
- Trade debts +€22,527
up €22,527 (+43954.3%), from €51 to €22,578
- Current portion of long-term debt +€12,903
new in 2025: €12,903
- Profit (loss) carried forward -€12,707
down €12,707, from €9,793 to -€2,914
- Tax, wage and social debts -€8,686
down €8,686 (-68.0%), from €12,770 to €4,084
of which Taxes: -€8,859
- Gross operating margin -€115,938
down €115,938 (-89.2%), from €130,040 to €14,103
- Staff costs -€98,159
down €98,159 (-94.2%), from €104,148 to €5,989
- Depreciation +€11,351
up €11,351 (+882.7%), from €1,286 to €12,637
- Other operating charges +€6,428
new in 2025: €6,428
- Taxes -€3,008
down €3,008 (-92.8%), from €3,241 to €233
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 | €64,557 | €106,194 | +€41,637 | +64.5% |
| Fixed assets | 21/28 | €4,925 | €55,551 | +€50,626 | +1027.9% |
| Tangible fixed assets | 22/27 | €4,925 | €55,551 | +€50,626 | +1027.9% |
| Plant, machinery and equipment | 23 | €4,274 | €3,754 | -€520 | -12.2% |
| Furniture and vehicles | 24 | €652 | €51,797 | +€51,146 | +7850.2% |
| Current assets | 29/58 | €59,631 | €50,643 | -€8,989 | -15.1% |
| Amounts receivable within one year | 40/41 | €48,854 | €16,885 | -€31,968 | -65.4% |
| Trade receivables | 40 | €48,854 | €13,230 | -€35,624 | -72.9% |
| Other amounts receivable | 41 | - | €3,655 | +€3,655 | |
| Cash at bank and in hand | 54/58 | €10,708 | €32,161 | +€21,453 | +200.4% |
| Deferred charges and accrued income | 490/1 | €70 | €1,596 | +€1,526 | +2180.4% |
| Total equity and liabilities | 10/49 | €64,557 | €106,194 | +€41,637 | +64.5% |
| Equity | 10/15 | €40,438 | €27,731 | -€12,707 | -31.4% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €28,145 | €28,145 | = | 0.0% |
| Non-distributable reserves | 130/1 | €28,145 | €250 | -€27,895 | -99.1% |
| Reserves not available under the articles | 1311 | €27,895 | - | -€27,895 | |
| Other | 1319 | €250 | €250 | = | 0.0% |
| Distributable reserves | 133 | - | €27,895 | +€27,895 | |
| Profit (loss) carried forward | 14 | €9,793 | -€2,914 | -€12,707 | |
| Amounts payable | 17/49 | €24,119 | €78,463 | +€54,344 | +225.3% |
| Amounts payable after more than one year | 17 | - | €30,708 | +€30,708 | |
| Financial debts | 170/4 | - | €30,708 | +€30,708 | |
| Amounts payable within one year | 42/48 | €24,119 | €47,756 | +€23,637 | +98.0% |
| Current portion of amounts payable after more than one year | 42 | - | €12,903 | +€12,903 | |
| Trade debts | 44 | €51 | €22,578 | +€22,527 | +43954.3% |
| Suppliers | 440/4 | €51 | €22,578 | +€22,527 | +43954.3% |
| Taxes, remuneration and social security | 45 | €12,770 | €4,084 | -€8,686 | -68.0% |
| Taxes | 450/3 | €9,028 | €169 | -€8,859 | -98.1% |
| Remuneration and social security | 454/9 | €3,743 | €3,916 | +€173 | +4.6% |
| Other amounts payable | 47/48 | €11,297 | €8,191 | -€3,107 | -27.5% |
| Remuneration, social security and pensions | 62 | €104,148 | €5,989 | -€98,159 | -94.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,286 | €12,637 | +€11,351 | +882.7% |
| Other operating charges | 640/8 | - | €6,428 | +€6,428 | |
| Gross operating margin | 9900 | €130,040 | €14,103 | -€115,938 | -89.2% |
| Operating profit (loss) | 9901 | €24,606 | -€10,952 | -€35,558 | |
| Financial charges | 65/66B | €222 | €1,522 | +€1,300 | +586.5% |
| Recurring financial charges | 65 | €222 | €1,522 | +€1,300 | +586.5% |
| Profit (loss) for the period before taxes | 9903 | €24,384 | -€12,474 | -€36,858 | |
| Income taxes | 67/77 | €3,241 | €233 | -€3,008 | -92.8% |
| Profit (loss) for the period | 9904 | €21,143 | -€12,707 | -€33,850 | |
| Profit (loss) for the period to be appropriated | 9905 | €21,143 | -€12,707 | -€33,850 |
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 7 October 2026 via checked.be.