V.T.S.: 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.T.S.
Largest movements
- Tangible fixed assets -€59,087
down €59,087 (-9.6%), from €613,865 to €554,778
of which Land and buildings: -€32,349
- Debts after one year -€45,061
down €45,061 (-15.4%), from €291,670 to €246,609
of which Financial debts: -€45,061
- Profit (loss) carried forward -€17,522
down €17,522 (-34.5%), from -€50,815 to -€68,337
- Other debts +€12,000
up €12,000 (+10.6%), from €113,000 to €125,000
- Reserves -€9,129
down €9,129 (-6.4%), from €141,617 to €132,488
of which Tax-exempt reserves: -€9,129
- Gross operating margin +€11,412
up €11,412 (+93.7%), from €12,179 to €23,591
- Depreciation +€7,219
up €7,219 (+32.3%), from €22,324 to €29,543
- Other operating charges +€2,059
up €2,059 (+88.1%), from €2,338 to €4,397
- Financial charges -€369
down €369 (-11.8%), from €3,125 to €2,756
From the 2022 result to the 2024 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.
Derived cash bridge
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2022 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €619,730 | €559,534 | -€60,196 | -9.7% |
| Fixed assets | 21/28 | €613,865 | €554,778 | -€59,087 | -9.6% |
| Tangible fixed assets | 22/27 | €613,865 | €554,778 | -€59,087 | -9.6% |
| Land and buildings | 22 | €498,275 | €465,926 | -€32,349 | -6.5% |
| Other tangible fixed assets | 26 | €115,590 | €88,852 | -€26,738 | -23.1% |
| Current assets | 29/58 | €5,865 | €4,756 | -€1,109 | -18.9% |
| Cash at bank and in hand | 54/58 | €3,597 | €4,131 | +€534 | +14.8% |
| Deferred charges and accrued income | 490/1 | €2,268 | €625 | -€1,643 | -72.4% |
| Total equity and liabilities | 10/49 | €619,730 | €559,534 | -€60,196 | -9.7% |
| Equity | 10/15 | €152,302 | €125,651 | -€26,651 | -17.5% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €141,617 | €132,488 | -€9,129 | -6.4% |
| Non-distributable reserves | 130/1 | €20,000 | €20,000 | = | 0.0% |
| Legal reserve | 130 | €20,000 | €20,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €121,617 | €112,488 | -€9,129 | -7.5% |
| Profit (loss) carried forward | 14 | -€50,815 | -€68,337 | -€17,522 | -34.5% |
| Provisions and deferred taxes | 16 | €40,539 | €37,496 | -€3,043 | -7.5% |
| Deferred taxes | 168 | €40,539 | €37,496 | -€3,043 | -7.5% |
| Amounts payable | 17/49 | €426,889 | €396,387 | -€30,502 | -7.1% |
| Amounts payable after more than one year | 17 | €291,670 | €246,609 | -€45,061 | -15.4% |
| Financial debts | 170/4 | €287,470 | €242,409 | -€45,061 | -15.7% |
| Other amounts payable | 178/9 | €4,200 | €4,200 | = | 0.0% |
| Amounts payable within one year | 42/48 | €135,219 | €147,635 | +€12,416 | +9.2% |
| Current portion of amounts payable after more than one year | 42 | €22,219 | €22,635 | +€416 | +1.9% |
| Other amounts payable | 47/48 | €113,000 | €125,000 | +€12,000 | +10.6% |
| Accrued charges and deferred income | 492/3 | - | €2,143 | +€2,143 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,324 | €29,543 | +€7,219 | +32.3% |
| Other operating charges | 640/8 | €2,338 | €4,397 | +€2,059 | +88.1% |
| Gross operating margin | 9900 | €12,179 | €23,591 | +€11,412 | +93.7% |
| Operating profit (loss) | 9901 | -€12,483 | -€10,349 | +€2,134 | +17.1% |
| Financial charges | 65/66B | €3,125 | €2,756 | -€369 | -11.8% |
| Recurring financial charges | 65 | €3,125 | €2,756 | -€369 | -11.8% |
| Profit (loss) for the period before taxes | 9903 | -€15,608 | -€13,105 | +€2,503 | +16.0% |
| Transfer from deferred taxes | 780 | €1,352 | €1,522 | +€170 | +12.6% |
| Profit (loss) for the period | 9904 | -€14,256 | -€11,583 | +€2,673 | +18.8% |
| Transfer from tax-exempt reserves | 789 | €4,056 | €4,564 | +€508 | +12.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,200 | -€7,019 | +€3,181 | +31.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2022 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.