V & P DIENSTEN: 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 & P DIENSTEN
Largest movements
- Financial fixed assets +€359,575
up €359,575 (+36.1%), from €995,530 to €1.4m
- Current investments -€200,428
no longer reported in 2025 (was €200,428)
- Tangible fixed assets +€105,448
up €105,448 (+5.8%), from €1.8m to €1.9m
of which Land and buildings: +€431,445
- Deferred charges and accrued income -€99,604
down €99,604 (-83.8%), from €118,910 to €19,305
- Cash -€68,981
down €68,981 (-54.7%), from €126,024 to €57,042
mainly Investment in fixed assets (net) (-€962,591) and Other debts (-€221,859)
- Current portion of long-term debt +€271,642
up €271,642 (+159%), from €170,732 to €442,374
- Reserves +€237,494
up €237,494 (+98.2%), from €241,860 to €479,354
of which Tax-exempt reserves: +€237,494
- Other debts -€221,859
down €221,859 (-30.2%), from €734,118 to €512,259
- Profit (loss) carried forward -€186,997
down €186,997, from €25,408 to -€161,588
- Provisions +€78,522
new in 2025: €78,522
- Financial income +€320,497
up €320,497 (+8,649%), from €3,705 to €324,202
of which Non-recurring financial income: +€321,391
- Gross operating margin -€249,368
down €249,368 (-37.5%), from €665,466 to €416,098
- Depreciation -€15,079
down €15,079 (-2.9%), from €512,646 to €497,568
- Financial charges +€10,877
up €10,877 (+12.1%), from €89,592 to €100,469
- Other operating charges +€10,289
up €10,289 (+368%), from €2,795 to €13,084
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 | €3,781,085 | €3,840,955 | +€59,870 | +1.6% |
| Fixed assets | 21/28 | €2,816,597 | €3,281,620 | +€465,023 | +16.5% |
| Tangible fixed assets | 22/27 | €1,821,066 | €1,926,515 | +€105,448 | +5.8% |
| Land and buildings | 22 | €1,193,245 | €1,624,690 | +€431,445 | +36.2% |
| Plant, machinery and equipment | 23 | €133,411 | €53,550 | -€79,861 | -59.9% |
| Furniture and vehicles | 24 | €238,374 | €162,774 | -€75,600 | -31.7% |
| Leasing and similar rights | 25 | €256,036 | €85,501 | -€170,535 | -66.6% |
| Financial fixed assets | 28 | €995,530 | €1,355,105 | +€359,575 | +36.1% |
| Current assets | 29/58 | €964,488 | €559,335 | -€405,154 | -42.0% |
| Amounts receivable within one year | 40/41 | €519,127 | €482,987 | -€36,140 | -7.0% |
| Trade receivables | 40 | €361,727 | €121,727 | -€240,000 | -66.3% |
| Other amounts receivable | 41 | €157,400 | €361,260 | +€203,860 | +130% |
| Current investments | 50/53 | €200,428 | - | -€200,428 | |
| Cash at bank and in hand | 54/58 | €126,024 | €57,042 | -€68,981 | -54.7% |
| Deferred charges and accrued income | 490/1 | €118,910 | €19,305 | -€99,604 | -83.8% |
| Total equity and liabilities | 10/49 | €3,781,085 | €3,840,955 | +€59,870 | +1.6% |
| Equity | 10/15 | €1,232,268 | €1,282,765 | +€50,497 | +4.1% |
| Contributions | 10/11 | €965,000 | €965,000 | = | 0.0% |
| Capital | 10 | €965,000 | €965,000 | = | 0.0% |
| Issued capital | 100 | €965,000 | €965,000 | = | 0.0% |
| Reserves | 13 | €241,860 | €479,354 | +€237,494 | +98.2% |
| Non-distributable reserves | 130/1 | €96,500 | €96,500 | = | 0.0% |
| Legal reserve | 130 | €96,500 | €96,500 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €237,494 | +€237,494 | |
| Distributable reserves | 133 | €145,360 | €145,360 | = | 0.0% |
| Profit (loss) carried forward | 14 | €25,408 | -€161,588 | -€186,997 | |
| Provisions and deferred taxes | 16 | - | €78,522 | +€78,522 | |
| Deferred taxes | 168 | - | €78,522 | +€78,522 | |
| Amounts payable | 17/49 | €2,548,817 | €2,479,667 | -€69,150 | -2.7% |
| Amounts payable after more than one year | 17 | €1,407,983 | €1,335,280 | -€72,702 | -5.2% |
| Financial debts | 170/4 | €1,407,983 | €1,335,280 | -€72,702 | -5.2% |
| Amounts payable within one year | 42/48 | €1,140,834 | €1,143,695 | +€2,861 | +0.3% |
| Current portion of amounts payable after more than one year | 42 | €170,732 | €442,374 | +€271,642 | +159% |
| Trade debts | 44 | €200,615 | €156,722 | -€43,893 | -21.9% |
| Suppliers | 440/4 | €200,615 | €156,722 | -€43,893 | -21.9% |
| Taxes, remuneration and social security | 45 | €35,369 | €32,341 | -€3,029 | -8.6% |
| Taxes | 450/3 | €35,369 | €32,341 | -€3,029 | -8.6% |
| Other amounts payable | 47/48 | €734,118 | €512,259 | -€221,859 | -30.2% |
| Accrued charges and deferred income | 492/3 | - | €691 | +€691 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €512,646 | €497,568 | -€15,079 | -2.9% |
| Other operating charges | 640/8 | €2,795 | €13,084 | +€10,289 | +368% |
| Non-recurring operating charges | 66A | €48,687 | - | -€48,687 | |
| Gross operating margin | 9900 | €665,466 | €416,098 | -€249,368 | -37.5% |
| Operating profit (loss) | 9901 | €101,338 | -€94,554 | -€195,891 | |
| Financial income | 75/76B | €3,705 | €324,202 | +€320,497 | +8,649% |
| Recurring financial income | 75 | €3,705 | €2,812 | -€894 | -24.1% |
| Non-recurring financial income | 76B | - | €321,391 | +€321,391 | |
| Financial charges | 65/66B | €89,592 | €100,469 | +€10,877 | +12.1% |
| Recurring financial charges | 65 | €89,592 | €100,469 | +€10,877 | +12.1% |
| Profit (loss) for the period before taxes | 9903 | €15,452 | €129,180 | +€113,728 | +736% |
| Transfer from deferred taxes | 780 | - | €1,822 | +€1,822 | |
| Transfer to deferred taxes | 680 | - | €80,344 | +€80,344 | |
| Income taxes | 67/77 | €6,092 | €160 | -€5,932 | -97.4% |
| Profit (loss) for the period | 9904 | €9,360 | €50,497 | +€41,138 | +440% |
| Transfer from tax-exempt reserves | 789 | - | €3,538 | +€3,538 | |
| Transfer to tax-exempt reserves | 689 | - | €241,032 | +€241,032 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,360 | -€186,997 | -€196,356 |
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 25 October 2026 via checked.be.