V.T.: 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.T.
Largest movements
- Cash +€9,559
up €9,559 (+17.1%), from €55,920 to €65,479
mainly Net result for the year (+€11,604) and Stocks and contracts (+€820)
- Receivables within one year +€1,862
up €1,862 (+21.5%), from €8,670 to €10,532
- Stocks and contracts -€820
down €820 (-20.8%), from €3,942 to €3,122
- Profit (loss) carried forward +€11,604
up €11,604 (+4.0%), from -€289,758 to -€278,154
- Gross operating margin +€1,939
up €1,939 (+18.3%), from €10,582 to €12,521
- Depreciation -€440
down €440 (-76.3%), from €577 to €137
- Other operating charges +€132
up €132 (+19.9%), from €664 to €796
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 | €68,532 | €79,408 | +€10,876 | +15.9% |
| Fixed assets | 21/28 | - | €275 | +€275 | |
| Tangible fixed assets | 22/27 | - | €275 | +€275 | |
| Furniture and vehicles | 24 | - | €275 | +€275 | |
| Current assets | 29/58 | €68,532 | €79,133 | +€10,601 | +15.5% |
| Stocks and contracts in progress | 3 | €3,942 | €3,122 | -€820 | -20.8% |
| Stocks | 30/36 | €3,942 | €3,122 | -€820 | -20.8% |
| Amounts receivable within one year | 40/41 | €8,670 | €10,532 | +€1,862 | +21.5% |
| Trade receivables | 40 | €8,670 | €10,532 | +€1,862 | +21.5% |
| Cash at bank and in hand | 54/58 | €55,920 | €65,479 | +€9,559 | +17.1% |
| Total equity and liabilities | 10/49 | €68,532 | €79,408 | +€10,876 | +15.9% |
| Equity | 10/15 | €63,878 | €75,482 | +€11,604 | +18.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €335,044 | €335,044 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €333,185 | €333,185 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€289,758 | -€278,154 | +€11,604 | +4.0% |
| Amounts payable | 17/49 | €4,654 | €3,926 | -€728 | -15.6% |
| Amounts payable within one year | 42/48 | €4,654 | €3,926 | -€728 | -15.6% |
| Trade debts | 44 | €873 | €280 | -€593 | -67.9% |
| Suppliers | 440/4 | €873 | €280 | -€593 | -67.9% |
| Taxes, remuneration and social security | 45 | €1,419 | €1,454 | +€35 | +2.5% |
| Taxes | 450/3 | €1,419 | €1,454 | +€35 | +2.5% |
| Other amounts payable | 47/48 | €2,362 | €2,192 | -€170 | -7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €577 | €137 | -€440 | -76.3% |
| Other operating charges | 640/8 | €664 | €796 | +€132 | +19.9% |
| Gross operating margin | 9900 | €10,582 | €12,521 | +€1,939 | +18.3% |
| Operating profit (loss) | 9901 | €9,341 | €11,588 | +€2,247 | +24.1% |
| Financial income | 75/76B | €239 | €247 | +€8 | +3.3% |
| Recurring financial income | 75 | €239 | €247 | +€8 | +3.3% |
| Financial charges | 65/66B | €183 | €172 | -€11 | -6.0% |
| Recurring financial charges | 65 | €183 | €172 | -€11 | -6.0% |
| Profit (loss) for the period before taxes | 9903 | €9,397 | €11,663 | +€2,266 | +24.1% |
| Income taxes | 67/77 | €71 | €59 | -€12 | -16.9% |
| Profit (loss) for the period | 9904 | €9,326 | €11,604 | +€2,278 | +24.4% |
| Profit (loss) for the period to be appropriated | 9905 | €9,326 | €11,604 | +€2,278 | +24.4% |
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 30 September 2026 via checked.be.