V-SYS: 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-SYS
Largest movements
- Tangible fixed assets -€16,921
down €16,921 (-25.7%), from €65,957 to €49,036
- Cash +€9,912
up €9,912 (+16.0%), from €62,128 to €72,041
mainly Trade debts (+€42,921) and Depreciation (+€24,121)
- Stocks and contracts +€7,234
up €7,234 (+15.4%), from €46,891 to €54,125
- Intangible fixed assets -€7,200
down €7,200 (-49.9%), from €14,420 to €7,220
- Receivables within one year -€6,022
down €6,022 (-9.4%), from €64,173 to €58,151
of which Other amounts receivable: -€8,125
- Profit (loss) carried forward -€59,382
down €59,382 (-34.8%), from €170,537 to €111,155
- Trade debts +€42,921
up €42,921 (+168.9%), from €25,412 to €68,333
- Tax, wage and social debts +€14,906
up €14,906 (+86.8%), from €17,181 to €32,087
of which Taxes: +€15,514
- Debts after one year -€5,932
down €5,932 (-42.5%), from €13,955 to €8,023
- Gross operating margin -€12,078
down €12,078 (-15.4%), from €78,330 to €66,252
- Depreciation +€3,328
up €3,328 (+16.0%), from €20,793 to €24,121
- Staff costs -€1,282
down €1,282 (-2.3%), from €56,390 to €55,108
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 | €256,239 | €245,990 | -€10,249 | -4.0% |
| Fixed assets | 21/28 | €80,376 | €56,256 | -€24,121 | -30.0% |
| Intangible fixed assets | 21 | €14,420 | €7,220 | -€7,200 | -49.9% |
| Tangible fixed assets | 22/27 | €65,957 | €49,036 | -€16,921 | -25.7% |
| Furniture and vehicles | 24 | €65,957 | €49,036 | -€16,921 | -25.7% |
| Current assets | 29/58 | €175,862 | €189,734 | +€13,872 | +7.9% |
| Stocks and contracts in progress | 3 | €46,891 | €54,125 | +€7,234 | +15.4% |
| Stocks | 30/36 | €46,891 | €54,125 | +€7,234 | +15.4% |
| Amounts receivable within one year | 40/41 | €64,173 | €58,151 | -€6,022 | -9.4% |
| Trade receivables | 40 | €55,534 | €57,637 | +€2,103 | +3.8% |
| Other amounts receivable | 41 | €8,640 | €515 | -€8,125 | -94.0% |
| Cash at bank and in hand | 54/58 | €62,128 | €72,041 | +€9,912 | +16.0% |
| Deferred charges and accrued income | 490/1 | €2,669 | €5,417 | +€2,748 | +102.9% |
| Total equity and liabilities | 10/49 | €256,239 | €245,990 | -€10,249 | -4.0% |
| Equity | 10/15 | €190,997 | €131,615 | -€59,382 | -31.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €170,537 | €111,155 | -€59,382 | -34.8% |
| Amounts payable | 17/49 | €65,241 | €114,375 | +€49,134 | +75.3% |
| Amounts payable after more than one year | 17 | €13,955 | €8,023 | -€5,932 | -42.5% |
| Financial debts | 170/4 | €13,955 | €8,023 | -€5,932 | -42.5% |
| Amounts payable within one year | 42/48 | €50,787 | €106,352 | +€55,565 | +109.4% |
| Current portion of amounts payable after more than one year | 42 | €5,860 | €5,932 | +€72 | +1.2% |
| Financial debts | 43 | €2,333 | - | -€2,333 | |
| Credit institutions | 430/8 | €2,333 | - | -€2,333 | |
| Trade debts | 44 | €25,412 | €68,333 | +€42,921 | +168.9% |
| Suppliers | 440/4 | €25,412 | €68,333 | +€42,921 | +168.9% |
| Taxes, remuneration and social security | 45 | €17,181 | €32,087 | +€14,906 | +86.8% |
| Taxes | 450/3 | €6,487 | €22,001 | +€15,514 | +239.2% |
| Remuneration and social security | 454/9 | €10,694 | €10,086 | -€608 | -5.7% |
| Accrued charges and deferred income | 492/3 | €500 | - | -€500 | |
| Remuneration, social security and pensions | 62 | €56,390 | €55,108 | -€1,282 | -2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,793 | €24,121 | +€3,328 | +16.0% |
| Other operating charges | 640/8 | €776 | €290 | -€486 | -62.6% |
| Gross operating margin | 9900 | €78,330 | €66,252 | -€12,078 | -15.4% |
| Operating profit (loss) | 9901 | €372 | -€13,266 | -€13,638 | |
| Financial income | 75/76B | €833 | €414 | -€419 | -50.3% |
| Recurring financial income | 75 | €833 | €414 | -€419 | -50.3% |
| Financial charges | 65/66B | €1,336 | €1,501 | +€165 | +12.3% |
| Recurring financial charges | 65 | €1,336 | €1,501 | +€165 | +12.3% |
| Profit (loss) for the period before taxes | 9903 | -€132 | -€14,354 | -€14,222 | -10796.4% |
| Income taxes | 67/77 | €64 | €29 | -€35 | -55.3% |
| Profit (loss) for the period | 9904 | -€196 | -€14,382 | -€14,187 | -7256.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€196 | -€14,382 | -€14,187 | -7256.0% |
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 10 October 2026 via checked.be.