V-MACE: 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-MACE
Largest movements
- Cash +€88,144
up €88,144 (+4,104%), from €2,148 to €90,292
mainly Net result for the year (+€76,205) and Tax, wage and social debts (+€30,489)
- Receivables within one year +€19,763
up €19,763 (+2,608%), from €758 to €20,520
of which Trade receivables: +€20,520
- Reserves +€68,470
new in 2025: €68,470
- Tax, wage and social debts +€30,489
new in 2025: €30,489
- Profit (loss) carried forward +€7,735
up €7,735, from -€7,735 to €0
- Trade debts +€1,516
up €1,516 (+180%), from €840 to €2,356
- Gross operating margin +€100,106
up €100,106, from -€1,120 to €98,986
- Taxes +€18,517
new in 2025: €18,517
- Financial charges +€4,061
up €4,061 (+4,869%), from €83 to €4,144
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 | €2,906 | €110,813 | +€107,907 | +3,714% |
| Current assets | 29/58 | €2,906 | €110,813 | +€107,907 | +3,714% |
| Amounts receivable within one year | 40/41 | €758 | €20,520 | +€19,763 | +2,608% |
| Trade receivables | 40 | - | €20,520 | +€20,520 | |
| Other amounts receivable | 41 | €758 | - | -€758 | |
| Cash at bank and in hand | 54/58 | €2,148 | €90,292 | +€88,144 | +4,104% |
| Total equity and liabilities | 10/49 | €2,906 | €110,813 | +€107,907 | +3,714% |
| Equity | 10/15 | -€2,735 | €73,470 | +€76,205 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | - | €68,470 | +€68,470 | |
| Distributable reserves | 133 | - | €68,470 | +€68,470 | |
| Profit (loss) carried forward | 14 | -€7,735 | €0 | +€7,735 | |
| Amounts payable | 17/49 | €5,640 | €37,342 | +€31,702 | +562% |
| Amounts payable within one year | 42/48 | €5,640 | €37,342 | +€31,702 | +562% |
| Trade debts | 44 | €840 | €2,356 | +€1,516 | +180% |
| Suppliers | 440/4 | €840 | €2,356 | +€1,516 | +180% |
| Taxes, remuneration and social security | 45 | - | €30,489 | +€30,489 | |
| Taxes | 450/3 | - | €30,489 | +€30,489 | |
| Other amounts payable | 47/48 | €4,800 | €4,498 | -€302 | -6.3% |
| Other operating charges | 640/8 | €118 | €120 | +€2 | +1.7% |
| Gross operating margin | 9900 | -€1,120 | €98,986 | +€100,106 | |
| Operating profit (loss) | 9901 | -€1,238 | €98,866 | +€100,104 | |
| Financial charges | 65/66B | €83 | €4,144 | +€4,061 | +4,869% |
| Recurring financial charges | 65 | €83 | €4,144 | +€4,061 | +4,869% |
| Profit (loss) for the period before taxes | 9903 | -€1,321 | €94,721 | +€96,043 | |
| Income taxes | 67/77 | - | €18,517 | +€18,517 | |
| Profit (loss) for the period | 9904 | -€1,321 | €76,205 | +€77,526 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,321 | €76,205 | +€77,526 |
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 25 October 2026 via checked.be.