V-TECH: 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-TECH
Largest movements
- Stocks and contracts -€2,058
down €2,058 (-17.3%), from €11,911 to €9,852
- Receivables within one year +€1,145
up €1,145 (+59.3%), from €1,932 to €3,077
- Tangible fixed assets -€417
down €417 (-12.0%), from €3,485 to €3,068
- Trade debts -€2,605
down €2,605 (-87.0%), from €2,994 to €389
- Other debts +€1,633
up €1,633 (+2.2%), from €74,840 to €76,473
- Tax, wage and social debts -€763
down €763 (-45.2%), from €1,689 to €926
- Profit (loss) carried forward +€599
up €599 (+0.7%), from -€85,331 to -€84,732
- Short-term financial debts -€194
down €194 (-7.3%), from €2,676 to €2,481
- Gross operating margin +€3,784
up €3,784, from -€877 to €2,907
- Financial charges -€246
down €246 (-20.9%), from €1,174 to €929
- Other operating charges +€50
up €50 (+9.4%), from €535 to €585
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €17,327 | €15,997 | -€1,330 | -7.7% |
| Fixed assets | 21/28 | €3,485 | €3,068 | -€417 | -12.0% |
| Tangible fixed assets | 22/27 | €3,485 | €3,068 | -€417 | -12.0% |
| Plant, machinery and equipment | 23 | €3,485 | €3,068 | -€417 | -12.0% |
| Current assets | 29/58 | €13,842 | €12,929 | -€913 | -6.6% |
| Stocks and contracts in progress | 3 | €11,911 | €9,852 | -€2,058 | -17.3% |
| Stocks | 30/36 | €11,911 | €9,852 | -€2,058 | -17.3% |
| Amounts receivable within one year | 40/41 | €1,932 | €3,077 | +€1,145 | +59.3% |
| Trade receivables | 40 | €1,932 | €3,077 | +€1,145 | +59.3% |
| Total equity and liabilities | 10/49 | €17,327 | €15,997 | -€1,330 | -7.7% |
| Equity | 10/15 | -€64,871 | -€64,272 | +€599 | +0.9% |
| 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 | -€85,331 | -€84,732 | +€599 | +0.7% |
| Amounts payable | 17/49 | €82,198 | €80,269 | -€1,929 | -2.3% |
| Amounts payable within one year | 42/48 | €82,198 | €80,269 | -€1,929 | -2.3% |
| Financial debts | 43 | €2,676 | €2,481 | -€194 | -7.3% |
| Credit institutions | 430/8 | €2,676 | €2,481 | -€194 | -7.3% |
| Trade debts | 44 | €2,994 | €389 | -€2,605 | -87.0% |
| Suppliers | 440/4 | €2,994 | €389 | -€2,605 | -87.0% |
| Taxes, remuneration and social security | 45 | €1,689 | €926 | -€763 | -45.2% |
| Taxes | 450/3 | €1,689 | €926 | -€763 | -45.2% |
| Other amounts payable | 47/48 | €74,840 | €76,473 | +€1,633 | +2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €417 | €417 | = | 0.0% |
| Other operating charges | 640/8 | €535 | €585 | +€50 | +9.4% |
| Gross operating margin | 9900 | -€877 | €2,907 | +€3,784 | |
| Operating profit (loss) | 9901 | -€1,829 | €1,904 | +€3,734 | |
| Financial income | 75/76B | €1 | €3 | +€2 | +401.7% |
| Recurring financial income | 75 | €1 | €3 | +€2 | +401.7% |
| Financial charges | 65/66B | €1,174 | €929 | -€246 | -20.9% |
| Recurring financial charges | 65 | €1,174 | €929 | -€246 | -20.9% |
| Profit (loss) for the period before taxes | 9903 | -€3,003 | €979 | +€3,982 | |
| Income taxes | 67/77 | €371 | €380 | +€9 | +2.5% |
| Profit (loss) for the period | 9904 | -€3,374 | €599 | +€3,972 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,374 | €599 | +€3,972 |
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 28 September 2026 via checked.be.