V-I-C: 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-I-C
Largest movements
- Tangible fixed assets +€177,137
up €177,137 (+33.7%), from €526,101 to €703,238
of which Land and buildings: +€190,755
- Receivables within one year +€73,916
up €73,916 (+124%), from €59,473 to €133,389
of which Other amounts receivable: +€55,041
- Current investments +€29,000
new in 2025: €29,000
- Other debts +€139,147
up €139,147 (+155%), from €89,582 to €228,729
- Debts after one year +€122,460
up €122,460 (+28.2%), from €434,626 to €557,086
- Current portion of long-term debt +€12,504
up €12,504 (+39.7%), from €31,469 to €43,973
- Gross operating margin +€184,585
up €184,585 (+96.6%), from €191,121 to €375,706
- Taxes +€39,652
up €39,652 (+128%), from €31,032 to €70,685
- Other operating charges -€10,946
down €10,946 (-34.3%), from €31,895 to €20,949
- Depreciation +€7,567
up €7,567 (+23.9%), from €31,635 to €39,202
- Financial charges +€4,626
up €4,626 (+37.0%), from €12,491 to €17,117
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 | €631,612 | €909,683 | +€278,071 | +44.0% |
| Fixed assets | 21/28 | €526,551 | €703,688 | +€177,137 | +33.6% |
| Tangible fixed assets | 22/27 | €526,101 | €703,238 | +€177,137 | +33.7% |
| Land and buildings | 22 | €490,687 | €681,442 | +€190,755 | +38.9% |
| Plant, machinery and equipment | 23 | €13,574 | €11,573 | -€2,001 | -14.7% |
| Furniture and vehicles | 24 | €21,840 | €10,224 | -€11,617 | -53.2% |
| Financial fixed assets | 28 | €450 | €450 | = | 0.0% |
| Current assets | 29/58 | €105,061 | €205,995 | +€100,934 | +96.1% |
| Amounts receivable after more than one year | 29 | €24,000 | €24,000 | = | 0.0% |
| Other amounts receivable | 291 | €24,000 | €24,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €59,473 | €133,389 | +€73,916 | +124% |
| Trade receivables | 40 | €28,762 | €47,636 | +€18,875 | +65.6% |
| Other amounts receivable | 41 | €30,712 | €85,753 | +€55,041 | +179% |
| Current investments | 50/53 | - | €29,000 | +€29,000 | |
| Cash at bank and in hand | 54/58 | €20,603 | €18,320 | -€2,283 | -11.1% |
| Deferred charges and accrued income | 490/1 | €985 | €1,286 | +€301 | +30.6% |
| Total equity and liabilities | 10/49 | €631,612 | €909,683 | +€278,071 | +44.0% |
| Equity | 10/15 | €42,600 | €42,600 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €24,000 | €24,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €24,000 | €24,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €589,012 | €867,083 | +€278,071 | +47.2% |
| Amounts payable after more than one year | 17 | €434,626 | €557,086 | +€122,460 | +28.2% |
| Financial debts | 170/4 | €434,626 | €557,086 | +€122,460 | +28.2% |
| Amounts payable within one year | 42/48 | €153,990 | €309,511 | +€155,521 | +101% |
| Current portion of amounts payable after more than one year | 42 | €31,469 | €43,973 | +€12,504 | +39.7% |
| Trade debts | 44 | €13,462 | €22,397 | +€8,935 | +66.4% |
| Suppliers | 440/4 | €13,462 | €22,397 | +€8,935 | +66.4% |
| Taxes, remuneration and social security | 45 | €19,477 | €14,412 | -€5,065 | -26.0% |
| Taxes | 450/3 | €18,066 | €14,412 | -€3,654 | -20.2% |
| Remuneration and social security | 454/9 | €1,411 | €0 | -€1,411 | -100% |
| Other amounts payable | 47/48 | €89,582 | €228,729 | +€139,147 | +155% |
| Accrued charges and deferred income | 492/3 | €395 | €486 | +€91 | +23.0% |
| Non-recurring operating income | 76A | €763 | €0 | -€763 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,635 | €39,202 | +€7,567 | +23.9% |
| Other operating charges | 640/8 | €31,895 | €20,949 | -€10,946 | -34.3% |
| Non-recurring operating charges | 66A | - | €298 | +€298 | |
| Gross operating margin | 9900 | €191,121 | €375,706 | +€184,585 | +96.6% |
| Operating profit (loss) | 9901 | €127,591 | €315,257 | +€187,666 | +147% |
| Financial income | 75/76B | €1,690 | €1,273 | -€417 | -24.7% |
| Recurring financial income | 75 | €1,690 | €1,273 | -€417 | -24.7% |
| Financial charges | 65/66B | €12,491 | €17,117 | +€4,626 | +37.0% |
| Recurring financial charges | 65 | €12,491 | €17,117 | +€4,626 | +37.0% |
| Profit (loss) for the period before taxes | 9903 | €116,790 | €299,413 | +€182,623 | +156% |
| Income taxes | 67/77 | €31,032 | €70,685 | +€39,652 | +128% |
| Profit (loss) for the period | 9904 | €85,758 | €228,729 | +€142,971 | +167% |
| Profit (loss) for the period to be appropriated | 9905 | €85,758 | €228,729 | +€142,971 | +167% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.