V-Service: 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-Service
Largest movements
- Receivables within one year -€37,141
down €37,141 (-19.8%), from €187,431 to €150,290
of which Trade receivables: -€61,764
- Cash -€36,610
down €36,610 (-37.4%), from €97,947 to €61,337
mainly Trade debts (-€112,202) and Investment in fixed assets (net) (-€99,593)
- Tangible fixed assets +€34,608
up €34,608 (+9.5%), from €362,634 to €397,242
of which Furniture and vehicles: +€49,187
- Deferred charges and accrued income +€27,750
up €27,750 (+472.2%), from €5,877 to €33,627
- Trade debts -€112,202
no longer reported in 2025 (was €112,202)
- Debts after one year +€93,875
up €93,875 (+37.4%), from €250,850 to €344,725
- Current portion of long-term debt +€21,393
new in 2025: €21,393
- Tax, wage and social debts -€17,766
down €17,766 (-35.6%), from €49,971 to €32,205
of which Taxes: -€31,941
- Gross operating margin -€105,850
down €105,850 (-31.8%), from €332,808 to €226,958
- Staff costs +€41,267
up €41,267 (+47.9%), from €86,208 to €127,475
- Taxes -€31,676
down €31,676 (-86.4%), from €36,644 to €4,968
- Depreciation -€5,031
down €5,031 (-7.2%), from €70,017 to €64,985
- Financial charges +€4,315
up €4,315 (+51.7%), from €8,341 to €12,656
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.
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 | €656,710 | €645,317 | -€11,393 | -1.7% |
| Fixed assets | 21/28 | €365,456 | €400,063 | +€34,608 | +9.5% |
| Tangible fixed assets | 22/27 | €362,634 | €397,242 | +€34,608 | +9.5% |
| Plant, machinery and equipment | 23 | €124,898 | €110,318 | -€14,580 | -11.7% |
| Furniture and vehicles | 24 | €237,737 | €286,924 | +€49,187 | +20.7% |
| Financial fixed assets | 28 | €2,822 | €2,822 | = | 0.0% |
| Current assets | 29/58 | €291,254 | €245,254 | -€46,000 | -15.8% |
| Amounts receivable within one year | 40/41 | €187,431 | €150,290 | -€37,141 | -19.8% |
| Trade receivables | 40 | €169,232 | €107,469 | -€61,764 | -36.5% |
| Other amounts receivable | 41 | €18,198 | €42,821 | +€24,623 | +135.3% |
| Cash at bank and in hand | 54/58 | €97,947 | €61,337 | -€36,610 | -37.4% |
| Deferred charges and accrued income | 490/1 | €5,877 | €33,627 | +€27,750 | +472.2% |
| Total equity and liabilities | 10/49 | €656,710 | €645,317 | -€11,393 | -1.7% |
| Equity | 10/15 | €233,602 | €239,625 | +€6,023 | +2.6% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €231,602 | €237,625 | +€6,023 | +2.6% |
| Distributable reserves | 133 | €231,602 | €237,625 | +€6,023 | +2.6% |
| Amounts payable | 17/49 | €423,108 | €405,693 | -€17,416 | -4.1% |
| Amounts payable after more than one year | 17 | €250,850 | €344,725 | +€93,875 | +37.4% |
| Financial debts | 170/4 | €250,850 | €344,725 | +€93,875 | +37.4% |
| Amounts payable within one year | 42/48 | €170,530 | €59,240 | -€111,290 | -65.3% |
| Current portion of amounts payable after more than one year | 42 | - | €21,393 | +€21,393 | |
| Trade debts | 44 | €112,202 | - | -€112,202 | |
| Suppliers | 440/4 | €112,202 | - | -€112,202 | |
| Taxes, remuneration and social security | 45 | €49,971 | €32,205 | -€17,766 | -35.6% |
| Taxes | 450/3 | €36,644 | €4,703 | -€31,941 | -87.2% |
| Remuneration and social security | 454/9 | €13,327 | €27,502 | +€14,175 | +106.4% |
| Other amounts payable | 47/48 | €8,357 | €5,642 | -€2,715 | -32.5% |
| Accrued charges and deferred income | 492/3 | €1,728 | €1,728 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €86,208 | €127,475 | +€41,267 | +47.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,017 | €64,985 | -€5,031 | -7.2% |
| Other operating charges | 640/8 | €6,860 | €2,975 | -€3,885 | -56.6% |
| Non-recurring operating charges | 66A | - | €8,847 | +€8,847 | |
| Gross operating margin | 9900 | €332,808 | €226,958 | -€105,850 | -31.8% |
| Operating profit (loss) | 9901 | €169,723 | €22,675 | -€147,047 | -86.6% |
| Financial income | 75/76B | €371 | €971 | +€600 | +161.6% |
| Recurring financial income | 75 | €371 | €971 | +€600 | +161.6% |
| Financial charges | 65/66B | €8,341 | €12,656 | +€4,315 | +51.7% |
| Recurring financial charges | 65 | €8,341 | €12,656 | +€4,315 | +51.7% |
| Profit (loss) for the period before taxes | 9903 | €161,753 | €10,991 | -€150,762 | -93.2% |
| Income taxes | 67/77 | €36,644 | €4,968 | -€31,676 | -86.4% |
| Profit (loss) for the period | 9904 | €125,109 | €6,023 | -€119,086 | -95.2% |
| Profit (loss) for the period to be appropriated | 9905 | €125,109 | €6,023 | -€119,086 | -95.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.