V.S.2.: 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.S.2.
Largest movements
- Cash +€34,770
up €34,770 (+35.6%), from €97,539 to €132,309
mainly Deferred charges and accrued income (+€25,190) and Depreciation (+€18,857)
- Receivables within one year +€25,709
up €25,709 (+865%), from €2,972 to €28,681
of which Trade receivables: +€25,962
- Deferred charges and accrued income -€25,190
no longer reported in 2025 (was €25,190)
- Tangible fixed assets -€18,857
down €18,857 (-3.8%), from €490,890 to €472,033
- Other debts +€14,388
up €14,388 (+4.8%), from €300,766 to €315,154
- Profit (loss) carried forward +€10,387
up €10,387 (+3.6%), from €286,958 to €297,345
- Trade debts -€7,349
down €7,349 (-57.7%), from €12,738 to €5,389
- Gross operating margin -€8,019
down €8,019 (-12.1%), from €66,486 to €58,467
- Financial charges +€2,731
up €2,731 (+13.0%), from €21,031 to €23,762
- Financial income -€2,648
no longer reported in 2025 (was €2,648)
- Taxes -€2,598
down €2,598 (-46.2%), from €5,628 to €3,030
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 | €616,591 | €633,023 | +€16,432 | +2.7% |
| Fixed assets | 21/28 | €490,890 | €472,033 | -€18,857 | -3.8% |
| Tangible fixed assets | 22/27 | €490,890 | €472,033 | -€18,857 | -3.8% |
| Land and buildings | 22 | €490,890 | €472,033 | -€18,857 | -3.8% |
| Current assets | 29/58 | €125,701 | €160,990 | +€35,288 | +28.1% |
| Amounts receivable within one year | 40/41 | €2,972 | €28,681 | +€25,709 | +865% |
| Trade receivables | 40 | €2,227 | €28,190 | +€25,962 | +1,166% |
| Other amounts receivable | 41 | €745 | €491 | -€254 | -34.1% |
| Cash at bank and in hand | 54/58 | €97,539 | €132,309 | +€34,770 | +35.6% |
| Deferred charges and accrued income | 490/1 | €25,190 | - | -€25,190 | |
| Total equity and liabilities | 10/49 | €616,591 | €633,023 | +€16,432 | +2.7% |
| Equity | 10/15 | €291,958 | €302,345 | +€10,387 | +3.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €286,958 | €297,345 | +€10,387 | +3.6% |
| Amounts payable | 17/49 | €324,633 | €330,677 | +€6,044 | +1.9% |
| Amounts payable within one year | 42/48 | €324,619 | €330,658 | +€6,038 | +1.9% |
| Trade debts | 44 | €12,738 | €5,389 | -€7,349 | -57.7% |
| Suppliers | 440/4 | €12,738 | €5,389 | -€7,349 | -57.7% |
| Taxes, remuneration and social security | 45 | €11,115 | €10,115 | -€1,000 | -9.0% |
| Taxes | 450/3 | €11,115 | €10,115 | -€1,000 | -9.0% |
| Other amounts payable | 47/48 | €300,766 | €315,154 | +€14,388 | +4.8% |
| Accrued charges and deferred income | 492/3 | €14 | €20 | +€6 | +42.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,313 | €18,857 | +€544 | +3.0% |
| Other operating charges | 640/8 | €2,241 | €2,431 | +€190 | +8.5% |
| Gross operating margin | 9900 | €66,486 | €58,467 | -€8,019 | -12.1% |
| Operating profit (loss) | 9901 | €45,933 | €37,179 | -€8,754 | -19.1% |
| Financial income | 75/76B | €2,648 | - | -€2,648 | |
| Recurring financial income | 75 | €2,648 | - | -€2,648 | |
| Financial charges | 65/66B | €21,031 | €23,762 | +€2,731 | +13.0% |
| Recurring financial charges | 65 | €21,031 | €23,762 | +€2,731 | +13.0% |
| Profit (loss) for the period before taxes | 9903 | €27,549 | €13,417 | -€14,132 | -51.3% |
| Income taxes | 67/77 | €5,628 | €3,030 | -€2,598 | -46.2% |
| Profit (loss) for the period | 9904 | €21,921 | €10,387 | -€11,534 | -52.6% |
| Profit (loss) for the period to be appropriated | 9905 | €21,921 | €10,387 | -€11,534 | -52.6% |
Source: filed annual accounts (NBB), financial years ended 31 May 2024 and 31 May 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.