V-ST: 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-ST
Largest movements
- Tangible fixed assets -€4,580
down €4,580 (-29.9%), from €15,334 to €10,754
of which Land and buildings: -€4,208
- Cash -€1,635
down €1,635 (-19.8%), from €8,260 to €6,626
mainly Debts after one year (-€2,734) and Net result for the year (-€1,908)
- Deferred charges and accrued income +€1,138
new in 2025: €1,138
- Receivables within one year -€734
down €734 (-80.6%), from €911 to €177
of which Trade receivables: -€778
- Debts after one year -€2,734
no longer reported in 2025 (was €2,734)
- Profit (loss) carried forward -€1,908
down €1,908 (-29.4%), from €6,485 to €4,577
- Current portion of long-term debt -€1,895
down €1,895 (-40.9%), from €4,629 to €2,734
- Other debts +€623
up €623 (+154.8%), from €403 to €1,026
- Gross operating margin -€3,894
down €3,894 (-44.4%), from €8,776 to €4,882
- Taxes -€907
no longer reported in 2025 (was €907)
- Other operating charges -€863
down €863 (-37.7%), from €2,290 to €1,427
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 | €25,833 | €20,137 | -€5,696 | -22.0% |
| Fixed assets | 21/28 | €15,364 | €10,784 | -€4,580 | -29.8% |
| Tangible fixed assets | 22/27 | €15,334 | €10,754 | -€4,580 | -29.9% |
| Land and buildings | 22 | €14,598 | €10,390 | -€4,208 | -28.8% |
| Furniture and vehicles | 24 | €736 | €364 | -€372 | -50.5% |
| Financial fixed assets | 28 | €30 | €30 | = | 0.0% |
| Current assets | 29/58 | €10,469 | €9,354 | -€1,116 | -10.7% |
| Stocks and contracts in progress | 3 | €1,298 | €1,414 | +€116 | +8.9% |
| Stocks | 30/36 | €1,298 | €1,414 | +€116 | +8.9% |
| Amounts receivable within one year | 40/41 | €911 | €177 | -€734 | -80.6% |
| Trade receivables | 40 | €778 | - | -€778 | |
| Other amounts receivable | 41 | €134 | €177 | +€43 | +32.5% |
| Cash at bank and in hand | 54/58 | €8,260 | €6,626 | -€1,635 | -19.8% |
| Deferred charges and accrued income | 490/1 | - | €1,138 | +€1,138 | |
| Total equity and liabilities | 10/49 | €25,833 | €20,137 | -€5,696 | -22.0% |
| Equity | 10/15 | €12,798 | €10,890 | -€1,908 | -14.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €113 | €113 | = | 0.0% |
| Distributable reserves | 133 | €113 | €113 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,485 | €4,577 | -€1,908 | -29.4% |
| Amounts payable | 17/49 | €13,036 | €9,248 | -€3,788 | -29.1% |
| Amounts payable after more than one year | 17 | €2,734 | - | -€2,734 | |
| Financial debts | 170/4 | €2,734 | - | -€2,734 | |
| Amounts payable within one year | 42/48 | €10,302 | €9,248 | -€1,054 | -10.2% |
| Current portion of amounts payable after more than one year | 42 | €4,629 | €2,734 | -€1,895 | -40.9% |
| Trade debts | 44 | €4,877 | €4,916 | +€39 | +0.8% |
| Suppliers | 440/4 | €4,877 | €4,916 | +€39 | +0.8% |
| Taxes, remuneration and social security | 45 | €393 | €572 | +€179 | +45.4% |
| Taxes | 450/3 | €393 | €572 | +€179 | +45.4% |
| Other amounts payable | 47/48 | €403 | €1,026 | +€623 | +154.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,945 | €5,018 | +€73 | +1.5% |
| Other operating charges | 640/8 | €2,290 | €1,427 | -€863 | -37.7% |
| Gross operating margin | 9900 | €8,776 | €4,882 | -€3,894 | -44.4% |
| Operating profit (loss) | 9901 | €1,541 | -€1,563 | -€3,104 | |
| Financial income | 75/76B | €1 | €0 | -€1 | -98.0% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -98.0% |
| Financial charges | 65/66B | €407 | €345 | -€62 | -15.3% |
| Recurring financial charges | 65 | €407 | €345 | -€62 | -15.3% |
| Profit (loss) for the period before taxes | 9903 | €1,135 | -€1,908 | -€3,043 | |
| Income taxes | 67/77 | €907 | - | -€907 | |
| Profit (loss) for the period | 9904 | €228 | -€1,908 | -€2,136 | |
| Profit (loss) for the period to be appropriated | 9905 | €228 | -€1,908 | -€2,136 |
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 12 October 2026 via checked.be.