V-Pils: 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-Pils
Largest movements
- Receivables within one year -€7,809
down €7,809 (-38.8%), from €20,122 to €12,312
of which Other amounts receivable: -€4,179
- Tangible fixed assets -€5,851
down €5,851 (-15.9%), from €36,900 to €31,048
of which Land and buildings: -€4,001
- Cash +€3,635
new in 2025: €3,635
mainly Receivables within one year (+€7,809) and Depreciation (+€5,851)
- Profit (loss) carried forward -€6,584
down €6,584 (-73.1%), from -€9,008 to -€15,592
- Trade debts -€3,537
down €3,537 (-76.0%), from €4,656 to €1,119
- Other debts +€3,247
up €3,247 (+6494.5%), from €50 to €3,297
- Debts after one year -€1,700
no longer reported in 2025 (was €1,700)
- Current portion of long-term debt -€1,096
no longer reported in 2025 (was €1,096)
- Gross operating margin -€3,423
down €3,423 (-50.0%), from €6,852 to €3,429
- Depreciation -€1,006
down €1,006 (-14.7%), from €6,857 to €5,851
- Taxes +€638
no longer reported in 2025 (was -€638)
- Other operating charges +€358
up €358 (+9.8%), from €3,639 to €3,997
- Financial charges -€177
down €177 (-51.8%), from €343 to €165
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 | €57,022 | €46,996 | -€10,026 | -17.6% |
| Fixed assets | 21/28 | €36,900 | €31,048 | -€5,851 | -15.9% |
| Tangible fixed assets | 22/27 | €36,900 | €31,048 | -€5,851 | -15.9% |
| Land and buildings | 22 | €34,674 | €30,673 | -€4,001 | -11.5% |
| Plant, machinery and equipment | 23 | €2,226 | €375 | -€1,851 | -83.1% |
| Current assets | 29/58 | €20,122 | €15,948 | -€4,174 | -20.7% |
| Amounts receivable within one year | 40/41 | €20,122 | €12,312 | -€7,809 | -38.8% |
| Trade receivables | 40 | €3,630 | - | -€3,630 | |
| Other amounts receivable | 41 | €16,492 | €12,312 | -€4,179 | -25.3% |
| Cash at bank and in hand | 54/58 | - | €3,635 | +€3,635 | |
| Total equity and liabilities | 10/49 | €57,022 | €46,996 | -€10,026 | -17.6% |
| Equity | 10/15 | €48,546 | €41,961 | -€6,584 | -13.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €37,554 | €37,554 | = | 0.0% |
| Distributable reserves | 133 | €37,554 | €37,554 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,008 | -€15,592 | -€6,584 | -73.1% |
| Amounts payable | 17/49 | €8,476 | €5,035 | -€3,441 | -40.6% |
| Amounts payable after more than one year | 17 | €1,700 | - | -€1,700 | |
| Other amounts payable | 178/9 | €1,700 | - | -€1,700 | |
| Amounts payable within one year | 42/48 | €6,776 | €5,035 | -€1,741 | -25.7% |
| Current portion of amounts payable after more than one year | 42 | €1,096 | - | -€1,096 | |
| Financial debts | 43 | €783 | - | -€783 | |
| Credit institutions | 430/8 | €783 | - | -€783 | |
| Trade debts | 44 | €4,656 | €1,119 | -€3,537 | -76.0% |
| Suppliers | 440/4 | €4,656 | €1,119 | -€3,537 | -76.0% |
| Taxes, remuneration and social security | 45 | €191 | €618 | +€427 | +223.2% |
| Taxes | 450/3 | €191 | €618 | +€427 | +223.2% |
| Other amounts payable | 47/48 | €50 | €3,297 | +€3,247 | +6494.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,857 | €5,851 | -€1,006 | -14.7% |
| Other operating charges | 640/8 | €3,639 | €3,997 | +€358 | +9.8% |
| Gross operating margin | 9900 | €6,852 | €3,429 | -€3,423 | -50.0% |
| Operating profit (loss) | 9901 | -€3,644 | -€6,419 | -€2,776 | -76.2% |
| Financial charges | 65/66B | €343 | €165 | -€177 | -51.8% |
| Recurring financial charges | 65 | €343 | €165 | -€177 | -51.8% |
| Profit (loss) for the period before taxes | 9903 | -€3,986 | -€6,584 | -€2,598 | -65.2% |
| Income taxes | 67/77 | -€638 | - | +€638 | |
| Profit (loss) for the period | 9904 | -€3,348 | -€6,584 | -€3,236 | -96.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,348 | -€6,584 | -€3,236 | -96.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.