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
- Tangible fixed assets -€29,348
down €29,348 (-5.7%), from €512,464 to €483,115
- Other debts -€47,936
down €47,936 (-12.4%), from €385,840 to €337,904
- Reserves +€36,500
up €36,500 (+72.3%), from €50,500 to €87,000
of which Distributable reserves: +€36,500
- Debts after one year -€12,126
down €12,126 (-40.3%), from €30,086 to €17,960
No income-statement line moved by more than 1% of the activity.
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 | €666,987 | €643,617 | -€23,370 | -3.5% |
| Fixed assets | 21/28 | €512,464 | €483,115 | -€29,348 | -5.7% |
| Tangible fixed assets | 22/27 | €512,464 | €483,115 | -€29,348 | -5.7% |
| Land and buildings | 22 | €512,464 | €483,115 | -€29,348 | -5.7% |
| Current assets | 29/58 | €154,524 | €160,502 | +€5,978 | +3.9% |
| Amounts receivable within one year | 40/41 | €352 | €1,047 | +€695 | +197.4% |
| Other amounts receivable | 41 | €352 | €1,047 | +€695 | +197.4% |
| Cash at bank and in hand | 54/58 | €154,171 | €159,455 | +€5,283 | +3.4% |
| Total equity and liabilities | 10/49 | €666,987 | €643,617 | -€23,370 | -3.5% |
| Equity | 10/15 | €234,938 | €271,697 | +€36,759 | +15.6% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €50,500 | €87,000 | +€36,500 | +72.3% |
| Non-distributable reserves | 130/1 | €15,000 | €15,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €15,000 | €15,000 | = | 0.0% |
| Distributable reserves | 133 | €35,500 | €72,000 | +€36,500 | +102.8% |
| Profit (loss) carried forward | 14 | €34,438 | €34,697 | +€259 | +0.8% |
| Amounts payable | 17/49 | €432,049 | €371,920 | -€60,129 | -13.9% |
| Amounts payable after more than one year | 17 | €30,086 | €17,960 | -€12,126 | -40.3% |
| Financial debts | 170/4 | €30,086 | €17,960 | -€12,126 | -40.3% |
| Amounts payable within one year | 42/48 | €401,962 | €353,960 | -€48,003 | -11.9% |
| Current portion of amounts payable after more than one year | 42 | €11,688 | €12,126 | +€438 | +3.7% |
| Trade debts | 44 | €64 | - | -€64 | |
| Suppliers | 440/4 | €64 | - | -€64 | |
| Taxes, remuneration and social security | 45 | €4,370 | €3,930 | -€441 | -10.1% |
| Taxes | 450/3 | €4,370 | €3,930 | -€441 | -10.1% |
| Other amounts payable | 47/48 | €385,840 | €337,904 | -€47,936 | -12.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,348 | €29,348 | = | 0.0% |
| Other operating charges | 640/8 | €9,635 | €9,475 | -€160 | -1.7% |
| Gross operating margin | 9900 | €93,900 | €94,385 | +€485 | +0.5% |
| Operating profit (loss) | 9901 | €54,916 | €55,562 | +€645 | +1.2% |
| Financial charges | 65/66B | €1,795 | €1,373 | -€422 | -23.5% |
| Recurring financial charges | 65 | €1,795 | €1,373 | -€422 | -23.5% |
| Profit (loss) for the period before taxes | 9903 | €53,121 | €54,189 | +€1,068 | +2.0% |
| Income taxes | 67/77 | €17,063 | €17,430 | +€367 | +2.2% |
| Profit (loss) for the period | 9904 | €36,058 | €36,759 | +€701 | +1.9% |
| Profit (loss) for the period to be appropriated | 9905 | €36,058 | €36,759 | +€701 | +1.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.