V&V Handling: 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 Handling
Largest movements
- Cash -€96,283
down €96,283 (-57.2%), from €168,277 to €71,994
mainly Short-term financial debts (-€250,000) and Debts after one year (-€140,000)
- Tangible fixed assets -€93,130
down €93,130 (-5.8%), from €1.6m to €1.5m
of which Plant, machinery and equipment: -€93,039
- Receivables within one year -€41,633
down €41,633 (-22.9%), from €181,828 to €140,195
of which Other amounts receivable: -€120,946
- Short-term financial debts -€250,000
no longer reported in 2025 (was €250,000)
- Debts after one year -€140,000
down €140,000 (-63.2%), from €221,667 to €81,666
- Other debts +€113,080
up €113,080 (+14.7%), from €769,649 to €882,729
- Trade debts +€43,520
up €43,520 (+2,926%), from €1,487 to €45,007
- Depreciation +€102,753
up €102,753 (+82.3%), from €124,848 to €227,601
- Gross operating margin +€74,026
up €74,026 (+26.1%), from €283,309 to €357,335
- Other operating charges -€4,141
down €4,141 (-5.9%), from €70,590 to €66,449
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 | €1,974,355 | €1,743,987 | -€230,368 | -11.7% |
| Fixed assets | 21/28 | €1,613,897 | €1,520,767 | -€93,130 | -5.8% |
| Tangible fixed assets | 22/27 | €1,613,897 | €1,520,767 | -€93,130 | -5.8% |
| Land and buildings | 22 | €699,253 | €709,476 | +€10,223 | +1.5% |
| Plant, machinery and equipment | 23 | €882,684 | €789,645 | -€93,039 | -10.5% |
| Furniture and vehicles | 24 | €31,960 | €21,646 | -€10,314 | -32.3% |
| Current assets | 29/58 | €360,458 | €223,220 | -€137,238 | -38.1% |
| Amounts receivable within one year | 40/41 | €181,828 | €140,195 | -€41,633 | -22.9% |
| Trade receivables | 40 | €16,290 | €95,603 | +€79,313 | +487% |
| Other amounts receivable | 41 | €165,538 | €44,592 | -€120,946 | -73.1% |
| Cash at bank and in hand | 54/58 | €168,277 | €71,994 | -€96,283 | -57.2% |
| Deferred charges and accrued income | 490/1 | €10,354 | €11,031 | +€678 | +6.5% |
| Total equity and liabilities | 10/49 | €1,974,355 | €1,743,987 | -€230,368 | -11.7% |
| Equity | 10/15 | €571,942 | €574,921 | +€2,980 | +0.5% |
| Contributions | 10/11 | €450,000 | €450,000 | = | 0.0% |
| Capital | 10 | €450,000 | €450,000 | = | 0.0% |
| Issued capital | 100 | €450,000 | €450,000 | = | 0.0% |
| Reserves | 13 | €121,942 | €124,921 | +€2,980 | +2.4% |
| Non-distributable reserves | 130/1 | €45,000 | €45,000 | = | 0.0% |
| Legal reserve | 130 | €45,000 | €45,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €39,442 | €42,421 | +€2,980 | +7.6% |
| Amounts payable | 17/49 | €1,402,414 | €1,169,066 | -€233,347 | -16.6% |
| Amounts payable after more than one year | 17 | €221,667 | €81,666 | -€140,000 | -63.2% |
| Financial debts | 170/4 | €221,667 | €81,666 | -€140,000 | -63.2% |
| Amounts payable within one year | 42/48 | €1,168,279 | €1,084,498 | -€83,782 | -7.2% |
| Current portion of amounts payable after more than one year | 42 | €140,000 | €140,000 | = | 0.0% |
| Financial debts | 43 | €250,000 | - | -€250,000 | |
| Credit institutions | 430/8 | €250,000 | - | -€250,000 | |
| Trade debts | 44 | €1,487 | €45,007 | +€43,520 | +2,926% |
| Suppliers | 440/4 | €1,487 | €45,007 | +€43,520 | +2,926% |
| Taxes, remuneration and social security | 45 | €7,143 | €16,762 | +€9,619 | +135% |
| Taxes | 450/3 | €7,143 | €16,762 | +€9,619 | +135% |
| Other amounts payable | 47/48 | €769,649 | €882,729 | +€113,080 | +14.7% |
| Accrued charges and deferred income | 492/3 | €12,468 | €2,902 | -€9,566 | -76.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €124,848 | €227,601 | +€102,753 | +82.3% |
| Other operating charges | 640/8 | €70,590 | €66,449 | -€4,141 | -5.9% |
| Gross operating margin | 9900 | €283,309 | €357,335 | +€74,026 | +26.1% |
| Operating profit (loss) | 9901 | €87,872 | €63,286 | -€24,586 | -28.0% |
| Financial income | 75/76B | €0 | €0 | -€0 | -81.8% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -81.8% |
| Financial charges | 65/66B | €22,781 | €20,114 | -€2,667 | -11.7% |
| Recurring financial charges | 65 | €22,781 | €20,114 | -€2,667 | -11.7% |
| Profit (loss) for the period before taxes | 9903 | €65,091 | €43,172 | -€21,919 | -33.7% |
| Income taxes | 67/77 | €408 | €192 | -€216 | -52.9% |
| Profit (loss) for the period | 9904 | €64,682 | €42,980 | -€21,703 | -33.6% |
| Profit (loss) for the period to be appropriated | 9905 | €64,682 | €42,980 | -€21,703 | -33.6% |
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 19 October 2026 via checked.be.