V.S.V.D.: 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.V.D.
Largest movements
- Cash -€4,007
down €4,007 (-4.9%), from €81,819 to €77,812
mainly Net result for the year (-€3,831) and Trade debts (-€1,152)
- Deferred charges and accrued income -€1,335
down €1,335 (-89.0%), from €1,500 to €165
- Reserves -€3,831
down €3,831 (-5.0%), from €76,437 to €72,606
- Trade debts -€1,152
down €1,152 (-88.1%), from €1,308 to €155
- Gross operating margin +€4,773
up €4,773 (+57.7%), from -€8,269 to -€3,496
- Other operating charges -€975
down €975 (-59.8%), from €1,631 to €656
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 | €84,085 | €78,959 | -€5,126 | -6.1% |
| Fixed assets | 21/28 | €113 | - | -€113 | |
| Tangible fixed assets | 22/27 | €113 | - | -€113 | |
| Furniture and vehicles | 24 | €113 | - | -€113 | |
| Current assets | 29/58 | €83,972 | €78,959 | -€5,013 | -6.0% |
| Amounts receivable within one year | 40/41 | €653 | €982 | +€329 | +50.4% |
| Other amounts receivable | 41 | €653 | €982 | +€329 | +50.4% |
| Cash at bank and in hand | 54/58 | €81,819 | €77,812 | -€4,007 | -4.9% |
| Deferred charges and accrued income | 490/1 | €1,500 | €165 | -€1,335 | -89.0% |
| Total equity and liabilities | 10/49 | €84,085 | €78,959 | -€5,126 | -6.1% |
| Equity | 10/15 | €82,635 | €78,804 | -€3,831 | -4.6% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €76,437 | €72,606 | -€3,831 | -5.0% |
| Distributable reserves | 133 | €76,437 | €72,606 | -€3,831 | -5.0% |
| Amounts payable | 17/49 | €1,450 | €155 | -€1,295 | -89.3% |
| Amounts payable within one year | 42/48 | €1,450 | €155 | -€1,295 | -89.3% |
| Trade debts | 44 | €1,308 | €155 | -€1,152 | -88.1% |
| Suppliers | 440/4 | €1,308 | €155 | -€1,152 | -88.1% |
| Taxes, remuneration and social security | 45 | €2 | - | -€2 | |
| Taxes | 450/3 | €2 | - | -€2 | |
| Other amounts payable | 47/48 | €140 | - | -€140 | |
| Non-recurring operating income | 76A | - | €9,500 | +€9,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €162 | €113 | -€49 | -30.4% |
| Other operating charges | 640/8 | €1,631 | €656 | -€975 | -59.8% |
| Gross operating margin | 9900 | -€8,269 | -€3,496 | +€4,773 | +57.7% |
| Operating profit (loss) | 9901 | -€10,062 | -€4,265 | +€5,797 | +57.6% |
| Financial income | 75/76B | €468 | €470 | +€2 | +0.5% |
| Recurring financial income | 75 | €468 | €470 | +€2 | +0.5% |
| Financial charges | 65/66B | €35 | €37 | +€1 | +4.2% |
| Recurring financial charges | 65 | €35 | €37 | +€1 | +4.2% |
| Profit (loss) for the period before taxes | 9903 | -€9,629 | -€3,831 | +€5,798 | +60.2% |
| Profit (loss) for the period | 9904 | -€9,629 | -€3,831 | +€5,798 | +60.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,629 | -€3,831 | +€5,798 | +60.2% |
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 14 October 2026 via checked.be.