V&V GROEP: what changed
What changed
V&V GROEP
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€23,900
2024 · €16,569+€7,331
Equity
€207,808
2024 · €609,459-€401,651
Cash
€13,208
2024 · €46,080-€32,872
Balance sheet total
€1.5m
2024 · €2.2m-€671,471
Largest movements
Assets
- Stocks and contracts -€413,283
down €413,283 (-52.9%), from €780,669 to €367,385
- Receivables after one year -€125,000
no longer reported in 2025 (was €125,000)
- Receivables within one year -€93,674
down €93,674 (-69.4%), from €135,005 to €41,331
- Cash -€32,872
down €32,872 (-71.3%), from €46,080 to €13,208
mainly Contributions, distributions and other (-€425,551) and Short-term financial debts (-€313,000)
Equity and liabilities
- Reserves -€401,651
down €401,651 (-68.3%), from €588,312 to €186,661
of which Distributable reserves: -€398,411
- Short-term financial debts -€313,000
down €313,000 (-78.6%), from €398,000 to €85,000
- Other debts +€79,024
up €79,024 (+27.4%), from €288,186 to €367,210
- Debts after one year -€61,195
down €61,195 (-8.2%), from €749,923 to €688,729
Income statement
- Gross operating margin +€27,145
up €27,145 (+22.8%), from €119,268 to €146,413
- Financial charges +€15,596
up €15,596 (+39.4%), from €39,537 to €55,132
- Taxes +€3,765
up €3,765 (+31.8%), from €11,842 to €15,607
- Depreciation +€3,658
up €3,658 (+6.9%), from €53,197 to €56,855
- Financial income +€3,296
up €3,296 (+176%), from €1,875 to €5,171
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€16,569
Gross operating margin
+€27,145
Depreciation
-€3,658
Other operating charges
-€92
Financial income
+€3,296
Financial charges
-€15,596
Taxes
-€3,765
Result 2025
€23,900
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€803,086
Investment
-€50,213
Financing
-€785,745
Cash 2024
€46,080
From operations (derived)
+€803,086
Net result for the year
+€23,900
Depreciation
+€56,855
Receivables after one year
+€125,000
Stocks and contracts
+€413,283
Receivables within one year
+€93,674
Provisions
-€1,080
Trade debts
+€3,259
Tax, wage and social debts
+€9,171
Other debts
+€79,024
Investment (derived)
-€50,213
Investment in fixed assets (net)
-€36,391
Current investments
-€13,823
Financing
-€785,745
Debts after one year
-€61,195
Current portion of long-term debt
+€14,001
Short-term financial debts
-€313,000
Contributions, distributions and other
-€425,551
Cash 2025
€13,208
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,196,489 | €1,525,018 | -€671,471 | -30.6% |
| Fixed assets | 21/28 | €991,659 | €971,195 | -€20,464 | -2.1% |
| Tangible fixed assets | 22/27 | €991,659 | €971,195 | -€20,464 | -2.1% |
| Furniture and vehicles | 24 | €77,406 | €92,676 | +€15,270 | +19.7% |
| Other tangible fixed assets | 26 | €914,253 | €878,519 | -€35,734 | -3.9% |
| Current assets | 29/58 | €1,204,830 | €553,823 | -€651,007 | -54.0% |
| Amounts receivable after more than one year | 29 | €125,000 | - | -€125,000 | |
| Other amounts receivable | 291 | €125,000 | - | -€125,000 | |
| Stocks and contracts in progress | 3 | €780,669 | €367,385 | -€413,283 | -52.9% |
| Contracts in progress | 37 | €780,669 | €367,385 | -€413,283 | -52.9% |
| Amounts receivable within one year | 40/41 | €135,005 | €41,331 | -€93,674 | -69.4% |
| Trade receivables | 40 | €135,005 | €41,331 | -€93,674 | -69.4% |
| Current investments | 50/53 | €118,076 | €131,899 | +€13,823 | +11.7% |
| Cash at bank and in hand | 54/58 | €46,080 | €13,208 | -€32,872 | -71.3% |
| Total equity and liabilities | 10/49 | €2,196,489 | €1,525,018 | -€671,471 | -30.6% |
| Equity | 10/15 | €609,459 | €207,808 | -€401,651 | -65.9% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €588,312 | €186,661 | -€401,651 | -68.3% |
| Tax-exempt reserves | 132 | €55,786 | €52,546 | -€3,240 | -5.8% |
| Distributable reserves | 133 | €532,526 | €134,115 | -€398,411 | -74.8% |
| Profit (loss) carried forward | 14 | €687 | €687 | = | 0.0% |
| Provisions and deferred taxes | 16 | €18,595 | €17,515 | -€1,080 | -5.8% |
| Deferred taxes | 168 | €18,595 | €17,515 | -€1,080 | -5.8% |
| Amounts payable | 17/49 | €1,568,435 | €1,299,695 | -€268,740 | -17.1% |
| Amounts payable after more than one year | 17 | €749,923 | €688,729 | -€61,195 | -8.2% |
| Financial debts | 170/4 | €749,923 | €688,729 | -€61,195 | -8.2% |
| Amounts payable within one year | 42/48 | €818,511 | €610,967 | -€207,545 | -25.4% |
| Current portion of amounts payable after more than one year | 42 | €95,502 | €109,503 | +€14,001 | +14.7% |
| Financial debts | 43 | €398,000 | €85,000 | -€313,000 | -78.6% |
| Credit institutions | 430/8 | €398,000 | €85,000 | -€313,000 | -78.6% |
| Trade debts | 44 | €8,950 | €12,208 | +€3,259 | +36.4% |
| Suppliers | 440/4 | €8,950 | €12,208 | +€3,259 | +36.4% |
| Taxes, remuneration and social security | 45 | €27,874 | €37,046 | +€9,171 | +32.9% |
| Taxes | 450/3 | €27,874 | €37,046 | +€9,171 | +32.9% |
| Other amounts payable | 47/48 | €288,186 | €367,210 | +€79,024 | +27.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,197 | €56,855 | +€3,658 | +6.9% |
| Other operating charges | 640/8 | €1,078 | €1,170 | +€92 | +8.5% |
| Gross operating margin | 9900 | €119,268 | €146,413 | +€27,145 | +22.8% |
| Operating profit (loss) | 9901 | €64,993 | €88,388 | +€23,395 | +36.0% |
| Financial income | 75/76B | €1,875 | €5,171 | +€3,296 | +176% |
| Recurring financial income | 75 | €1,875 | €5,171 | +€3,296 | +176% |
| Financial charges | 65/66B | €39,537 | €55,132 | +€15,596 | +39.4% |
| Recurring financial charges | 65 | €39,537 | €55,132 | +€15,596 | +39.4% |
| Profit (loss) for the period before taxes | 9903 | €27,331 | €38,427 | +€11,096 | +40.6% |
| Transfer from deferred taxes | 780 | €1,080 | €1,080 | = | 0.0% |
| Income taxes | 67/77 | €11,842 | €15,607 | +€3,765 | +31.8% |
| Profit (loss) for the period | 9904 | €16,569 | €23,900 | +€7,331 | +44.2% |
| Transfer from tax-exempt reserves | 789 | €3,240 | €3,240 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €19,809 | €27,140 | +€7,331 | +37.0% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.