V&V Group: 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.
What changed
V&V Group
NACE 43.230, Insulation installation
financial year 2024 compared with 2023filed annual accounts (NBB)
Net result for the year
-€5,159
2023 · €62,591-€67,750
Equity
€7,600
2023 · €12,759-€5,159
Cash
€43,706
2023 · €9,704+€34,003
Balance sheet total
€5.8m
2023 · €4.2m+€1.6m
Largest movements
Assets
- Stocks and contracts +€872,945
up €872,945 (+25.9%), from €3.4m to €4.2m
- Receivables within one year +€695,346
up €695,346 (+135%), from €514,344 to €1.2m
of which Trade receivables: +€738,675
Equity and liabilities
- Trade debts +€1.5m
up €1.5m (+1,994%), from €74,808 to €1.6m
- Short-term financial debts +€1.3m
up €1.3m (+61.1%), from €2.2m to €3.6m
- Current portion of long-term debt -€1.3m
down €1.3m (-85.1%), from €1.5m to €220,276
Income statement
- Financial charges +€115,607
up €115,607 (+226%), from €51,247 to €166,854
- Gross operating margin +€41,739
up €41,739 (+29.2%), from €143,022 to €184,761
- Other operating charges -€4,791
down €4,791 (-32.3%), from €14,836 to €10,045
From the 2023 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.
Result 2023
€62,591
Gross operating margin
+€41,739
Depreciation
+€492
Other operating charges
+€4,791
Financial income
+€836
Financial charges
-€115,607
Result 2024
-€5,159
raises the resultlowers the result
Derived cash bridge
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
-€6,993
Investment
€0
Financing
+€40,995
Cash 2023
€9,704
From operations (derived)
-€6,993
Net result for the year
-€5,159
Depreciation
+€13,857
Stocks and contracts
-€872,945
Receivables within one year
-€695,346
Smaller working-capital items
+€4,964
Trade debts
+€1.5m
Other debts
+€48,547
Accrued charges and deferred income
+€7,387
Financing
+€40,995
Debts after one year
-€45,276
Current portion of long-term debt
-€1.3m
Short-term financial debts
+€1.3m
Cash 2024
€43,706
brings cash intakes cash out
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,222,331 | €5,807,549 | +€1.6m | +37.5% |
| Fixed assets | 21/28 | €257,152 | €243,295 | -€13,857 | -5.4% |
| Tangible fixed assets | 22/27 | €87,151 | €73,294 | -€13,857 | -15.9% |
| Plant, machinery and equipment | 23 | €1,125 | €405 | -€720 | -64.0% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Other tangible fixed assets | 26 | €86,025 | €72,889 | -€13,136 | -15.3% |
| Financial fixed assets | 28 | €170,001 | €170,001 | = | 0.0% |
| Current assets | 29/58 | €3,965,180 | €5,564,254 | +€1.6m | +40.3% |
| Amounts receivable after more than one year | 29 | €63,338 | €63,338 | = | 0.0% |
| Trade receivables | 290 | €63,338 | €63,338 | = | 0.0% |
| Stocks and contracts in progress | 3 | €3,370,743 | €4,243,687 | +€872,945 | +25.9% |
| Stocks | 30/36 | €3,370,743 | €4,243,687 | +€872,945 | +25.9% |
| Amounts receivable within one year | 40/41 | €514,344 | €1,209,689 | +€695,346 | +135% |
| Trade receivables | 40 | €74,850 | €813,525 | +€738,675 | +987% |
| Other amounts receivable | 41 | €439,493 | €396,164 | -€43,329 | -9.9% |
| Cash at bank and in hand | 54/58 | €9,704 | €43,706 | +€34,003 | +350% |
| Deferred charges and accrued income | 490/1 | €7,052 | €3,833 | -€3,218 | -45.6% |
| Total equity and liabilities | 10/49 | €4,222,331 | €5,807,549 | +€1.6m | +37.5% |
| Equity | 10/15 | €12,759 | €7,600 | -€5,159 | -40.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €10,517 | €10,517 | = | 0.0% |
| Distributable reserves | 133 | €10,517 | €10,517 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,358 | -€21,517 | -€5,159 | -31.5% |
| Amounts payable | 17/49 | €4,209,573 | €5,799,949 | +€1.6m | +37.8% |
| Amounts payable after more than one year | 17 | €206,521 | €161,245 | -€45,276 | -21.9% |
| Financial debts | 170/4 | €206,521 | €161,245 | -€45,276 | -21.9% |
| Amounts payable within one year | 42/48 | €3,947,833 | €5,576,099 | +€1.6m | +41.2% |
| Current portion of amounts payable after more than one year | 42 | €1,482,571 | €220,276 | -€1.3m | -85.1% |
| Financial debts | 43 | €2,206,909 | €3,555,475 | +€1.3m | +61.1% |
| Credit institutions | 430/8 | €2,206,909 | €3,555,475 | +€1.3m | +61.1% |
| Trade debts | 44 | €74,808 | €1,566,510 | +€1.5m | +1,994% |
| Suppliers | 440/4 | €74,808 | €1,566,510 | +€1.5m | +1,994% |
| Taxes, remuneration and social security | 45 | €38,050 | €39,796 | +€1,746 | +4.6% |
| Taxes | 450/3 | €38,050 | €39,796 | +€1,746 | +4.6% |
| Other amounts payable | 47/48 | €145,496 | €194,043 | +€48,547 | +33.4% |
| Accrued charges and deferred income | 492/3 | €55,218 | €62,605 | +€7,387 | +13.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,349 | €13,857 | -€492 | -3.4% |
| Other operating charges | 640/8 | €14,836 | €10,045 | -€4,791 | -32.3% |
| Gross operating margin | 9900 | €143,022 | €184,761 | +€41,739 | +29.2% |
| Operating profit (loss) | 9901 | €113,838 | €160,860 | +€47,022 | +41.3% |
| Financial income | 75/76B | €0 | €836 | +€836 | |
| Recurring financial income | 75 | €0 | €836 | +€836 | |
| Financial charges | 65/66B | €51,247 | €166,854 | +€115,607 | +226% |
| Recurring financial charges | 65 | €51,247 | €166,854 | +€115,607 | +226% |
| Profit (loss) for the period before taxes | 9903 | €62,591 | -€5,159 | -€67,750 | |
| Profit (loss) for the period | 9904 | €62,591 | -€5,159 | -€67,750 | |
| Profit (loss) for the period to be appropriated | 9905 | €62,591 | -€5,159 | -€67,750 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.