V & V FINANCE: 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 & V FINANCE
Largest movements
- Receivables after one year -€36,000
down €36,000 (-30.5%), from €118,150 to €82,150
- Tangible fixed assets -€13,187
down €13,187 (-53.2%), from €24,800 to €11,613
- Cash +€10,424
up €10,424 (+8.8%), from €118,846 to €129,270
mainly Receivables after one year (+€36,000) and Net result for the year (+€28,382)
- Deferred charges and accrued income +€8,016
up €8,016 (+14.7%), from €54,357 to €62,373
- Receivables within one year -€7,574
down €7,574 (-32.7%), from €23,137 to €15,563
of which Other amounts receivable: -€9,574
- Reserves -€26,310
down €26,310 (-9.0%), from €293,207 to €266,897
- Debts after one year -€6,806
down €6,806 (-100%), from €6,806 to €0
- Gross operating margin +€9,825
up €9,825 (+11.0%), from €89,492 to €99,317
- Taxes +€2,858
up €2,858 (+21.6%), from €13,261 to €16,120
- Staff costs +€2,193
up €2,193 (+5.4%), from €40,794 to €42,987
- Financial income -€1,612
down €1,612 (-27.6%), from €5,842 to €4,231
- Depreciation -€1,042
down €1,042 (-6.8%), from €15,276 to €14,234
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.
Derived cash bridge
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 | €342,461 | €304,141 | -€38,321 | -11.2% |
| Fixed assets | 21/28 | €27,971 | €14,784 | -€13,187 | -47.1% |
| Tangible fixed assets | 22/27 | €24,800 | €11,613 | -€13,187 | -53.2% |
| Furniture and vehicles | 24 | €24,800 | €11,613 | -€13,187 | -53.2% |
| Financial fixed assets | 28 | €3,172 | €3,172 | = | 0.0% |
| Current assets | 29/58 | €314,490 | €289,357 | -€25,134 | -8.0% |
| Amounts receivable after more than one year | 29 | €118,150 | €82,150 | -€36,000 | -30.5% |
| Other amounts receivable | 291 | €118,150 | €82,150 | -€36,000 | -30.5% |
| Amounts receivable within one year | 40/41 | €23,137 | €15,563 | -€7,574 | -32.7% |
| Trade receivables | 40 | €2,000 | €4,000 | +€2,000 | +100% |
| Other amounts receivable | 41 | €21,137 | €11,563 | -€9,574 | -45.3% |
| Cash at bank and in hand | 54/58 | €118,846 | €129,270 | +€10,424 | +8.8% |
| Deferred charges and accrued income | 490/1 | €54,357 | €62,373 | +€8,016 | +14.7% |
| Total equity and liabilities | 10/49 | €342,461 | €304,141 | -€38,321 | -11.2% |
| Equity | 10/15 | €313,207 | €286,897 | -€26,310 | -8.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €293,207 | €266,897 | -€26,310 | -9.0% |
| Distributable reserves | 133 | €293,207 | €266,897 | -€26,310 | -9.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €29,254 | €17,243 | -€12,011 | -41.1% |
| Amounts payable after more than one year | 17 | €6,806 | €0 | -€6,806 | -100% |
| Financial debts | 170/4 | €6,806 | €0 | -€6,806 | -100% |
| Amounts payable within one year | 42/48 | €21,798 | €16,430 | -€5,368 | -24.6% |
| Current portion of amounts payable after more than one year | 42 | €8,093 | €6,806 | -€1,287 | -15.9% |
| Trade debts | 44 | €3,180 | €1,823 | -€1,358 | -42.7% |
| Suppliers | 440/4 | €3,180 | €1,823 | -€1,358 | -42.7% |
| Taxes, remuneration and social security | 45 | €8,287 | €5,365 | -€2,922 | -35.3% |
| Taxes | 450/3 | €1,284 | €856 | -€428 | -33.4% |
| Remuneration and social security | 454/9 | €7,003 | €4,509 | -€2,494 | -35.6% |
| Other amounts payable | 47/48 | €2,237 | €2,436 | +€198 | +8.9% |
| Accrued charges and deferred income | 492/3 | €650 | €814 | +€164 | +25.2% |
| Remuneration, social security and pensions | 62 | €40,794 | €42,987 | +€2,193 | +5.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,276 | €14,234 | -€1,042 | -6.8% |
| Other operating charges | 640/8 | €2,541 | €1,657 | -€883 | -34.8% |
| Gross operating margin | 9900 | €89,492 | €99,317 | +€9,825 | +11.0% |
| Operating profit (loss) | 9901 | €30,882 | €40,439 | +€9,557 | +30.9% |
| Financial income | 75/76B | €5,842 | €4,231 | -€1,612 | -27.6% |
| Recurring financial income | 75 | €5,842 | €4,231 | -€1,612 | -27.6% |
| Financial charges | 65/66B | €200 | €168 | -€32 | -15.9% |
| Recurring financial charges | 65 | €200 | €168 | -€32 | -15.9% |
| Profit (loss) for the period before taxes | 9903 | €36,524 | €44,502 | +€7,977 | +21.8% |
| Income taxes | 67/77 | €13,261 | €16,120 | +€2,858 | +21.6% |
| Profit (loss) for the period | 9904 | €23,263 | €28,382 | +€5,119 | +22.0% |
| Profit (loss) for the period to be appropriated | 9905 | €23,263 | €28,382 | +€5,119 | +22.0% |
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 30 October 2026 via checked.be.