V'ICE: 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'ICE
Largest movements
- Tangible fixed assets -€22,131
down €22,131 (-23.5%), from €94,005 to €71,875
of which Plant, machinery and equipment: -€14,074
- Cash -€1,931
down €1,931 (-16.5%), from €11,721 to €9,789
mainly Net result for the year (-€20,338) and Debts after one year (-€4,343)
- Stocks and contracts -€1,225
down €1,225 (-15.6%), from €7,853 to €6,628
- Profit (loss) carried forward -€20,338
down €20,338 (-27.7%), from -€73,491 to -€93,828
- Debts after one year -€4,343
down €4,343 (-2.5%), from €177,136 to €172,793
- Accrued charges and deferred income +€2,100
new in 2025: €2,100
- Current portion of long-term debt -€1,858
down €1,858 (-30.0%), from €6,201 to €4,343
- Gross operating margin +€3,440
up €3,440 (+101%), from €3,403 to €6,843
- Other operating charges +€459
up €459 (+67.3%), from €682 to €1,140
- Depreciation +€327
up €327 (+1.3%), from €25,103 to €25,431
- Financial charges -€225
down €225 (-27.0%), from €834 to €609
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 | €113,633 | €88,696 | -€24,936 | -21.9% |
| Fixed assets | 21/28 | €94,005 | €71,995 | -€22,011 | -23.4% |
| Tangible fixed assets | 22/27 | €94,005 | €71,875 | -€22,131 | -23.5% |
| Plant, machinery and equipment | 23 | €33,352 | €19,277 | -€14,074 | -42.2% |
| Furniture and vehicles | 24 | €6,190 | €5,347 | -€843 | -13.6% |
| Other tangible fixed assets | 26 | €54,463 | €47,250 | -€7,213 | -13.2% |
| Financial fixed assets | 28 | - | €120 | +€120 | |
| Current assets | 29/58 | €19,627 | €16,701 | -€2,926 | -14.9% |
| Stocks and contracts in progress | 3 | €7,853 | €6,628 | -€1,225 | -15.6% |
| Stocks | 30/36 | €7,853 | €6,628 | -€1,225 | -15.6% |
| Amounts receivable within one year | 40/41 | €54 | €285 | +€231 | +432% |
| Trade receivables | 40 | - | €282 | +€282 | |
| Other amounts receivable | 41 | €54 | €3 | -€50 | -94.3% |
| Cash at bank and in hand | 54/58 | €11,721 | €9,789 | -€1,931 | -16.5% |
| Total equity and liabilities | 10/49 | €113,633 | €88,696 | -€24,936 | -21.9% |
| Equity | 10/15 | -€70,491 | -€90,828 | -€20,338 | -28.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€73,491 | -€93,828 | -€20,338 | -27.7% |
| Amounts payable | 17/49 | €184,123 | €179,525 | -€4,599 | -2.5% |
| Amounts payable after more than one year | 17 | €177,136 | €172,793 | -€4,343 | -2.5% |
| Financial debts | 170/4 | €177,136 | €172,793 | -€4,343 | -2.5% |
| Amounts payable within one year | 42/48 | €6,987 | €4,632 | -€2,356 | -33.7% |
| Current portion of amounts payable after more than one year | 42 | €6,201 | €4,343 | -€1,858 | -30.0% |
| Trade debts | 44 | €596 | - | -€596 | |
| Suppliers | 440/4 | €596 | - | -€596 | |
| Advances received on contracts in progress | 46 | - | €45 | +€45 | |
| Other amounts payable | 47/48 | €190 | €243 | +€53 | +27.9% |
| Accrued charges and deferred income | 492/3 | - | €2,100 | +€2,100 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,103 | €25,431 | +€327 | +1.3% |
| Other operating charges | 640/8 | €682 | €1,140 | +€459 | +67.3% |
| Gross operating margin | 9900 | €3,403 | €6,843 | +€3,440 | +101% |
| Operating profit (loss) | 9901 | -€22,382 | -€19,728 | +€2,653 | +11.9% |
| Financial income | 75/76B | €43 | €0 | -€43 | -99.9% |
| Recurring financial income | 75 | €43 | €0 | -€43 | -99.9% |
| Financial charges | 65/66B | €834 | €609 | -€225 | -27.0% |
| Recurring financial charges | 65 | €834 | €609 | -€225 | -27.0% |
| Profit (loss) for the period before taxes | 9903 | -€23,173 | -€20,338 | +€2,835 | +12.2% |
| Profit (loss) for the period | 9904 | -€23,173 | -€20,338 | +€2,835 | +12.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€23,173 | -€20,338 | +€2,835 | +12.2% |
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 30 October 2026 via checked.be.