V.V.O.A.: 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.O.A.
Largest movements
- Cash +€16,020
up €16,020 (+22.7%), from €70,722 to €86,743
mainly Net result for the year (+€13,081) and Depreciation (+€9,279)
- Tangible fixed assets -€7,240
down €7,240 (-23.5%), from €30,818 to €23,578
of which Furniture and vehicles: -€6,732
- Receivables within one year +€7,197
up €7,197 (+17.7%), from €40,731 to €47,928
of which Other amounts receivable: +€5,700
- Reserves +€12,000
up €12,000 (+6.0%), from €201,050 to €213,050
- Trade debts +€3,724
up €3,724 (+270%), from €1,382 to €5,106
- Gross operating margin +€3,846
up €3,846 (+15.8%), from €24,357 to €28,203
- Taxes +€996
up €996 (+20.8%), from €4,787 to €5,783
- Depreciation -€814
down €814 (-8.1%), from €10,093 to €9,279
- Financial income +€352
up €352 (+59.7%), from €591 to €943
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 | €235,984 | €252,348 | +€16,364 | +6.9% |
| Fixed assets | 21/28 | €31,877 | €24,637 | -€7,240 | -22.7% |
| Tangible fixed assets | 22/27 | €30,818 | €23,578 | -€7,240 | -23.5% |
| Furniture and vehicles | 24 | €28,081 | €21,349 | -€6,732 | -24.0% |
| Other tangible fixed assets | 26 | €2,736 | €2,228 | -€508 | -18.6% |
| Financial fixed assets | 28 | €1,059 | €1,059 | = | 0.0% |
| Current assets | 29/58 | €204,107 | €227,711 | +€23,604 | +11.6% |
| Amounts receivable within one year | 40/41 | €40,731 | €47,928 | +€7,197 | +17.7% |
| Trade receivables | 40 | €34,531 | €36,028 | +€1,497 | +4.3% |
| Other amounts receivable | 41 | €6,200 | €11,900 | +€5,700 | +91.9% |
| Current investments | 50/53 | €91,798 | €92,247 | +€449 | +0.5% |
| Cash at bank and in hand | 54/58 | €70,722 | €86,743 | +€16,020 | +22.7% |
| Deferred charges and accrued income | 490/1 | €856 | €793 | -€63 | -7.3% |
| Total equity and liabilities | 10/49 | €235,984 | €252,348 | +€16,364 | +6.9% |
| Equity | 10/15 | €221,075 | €234,155 | +€13,081 | +5.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €201,050 | €213,050 | +€12,000 | +6.0% |
| Distributable reserves | 133 | €201,050 | €213,050 | +€12,000 | +6.0% |
| Profit (loss) carried forward | 14 | €25 | €1,105 | +€1,081 | +4,409% |
| Amounts payable | 17/49 | €14,910 | €18,193 | +€3,283 | +22.0% |
| Amounts payable within one year | 42/48 | €14,910 | €18,193 | +€3,283 | +22.0% |
| Trade debts | 44 | €1,382 | €5,106 | +€3,724 | +270% |
| Suppliers | 440/4 | €1,382 | €5,106 | +€3,724 | +270% |
| Taxes, remuneration and social security | 45 | €8,762 | €8,816 | +€54 | +0.6% |
| Taxes | 450/3 | €8,762 | €8,816 | +€54 | +0.6% |
| Other amounts payable | 47/48 | €4,766 | €4,271 | -€495 | -10.4% |
| Non-recurring operating income | 76A | €0 | €843 | +€843 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,093 | €9,279 | -€814 | -8.1% |
| Other operating charges | 640/8 | €780 | €870 | +€90 | +11.6% |
| Gross operating margin | 9900 | €24,357 | €28,203 | +€3,846 | +15.8% |
| Operating profit (loss) | 9901 | €13,484 | €18,054 | +€4,569 | +33.9% |
| Financial income | 75/76B | €591 | €943 | +€352 | +59.7% |
| Recurring financial income | 75 | €591 | €943 | +€352 | +59.7% |
| Financial charges | 65/66B | €70 | €133 | +€64 | +91.6% |
| Recurring financial charges | 65 | €70 | €133 | +€64 | +91.6% |
| Profit (loss) for the period before taxes | 9903 | €14,005 | €18,863 | +€4,858 | +34.7% |
| Income taxes | 67/77 | €4,787 | €5,783 | +€996 | +20.8% |
| Profit (loss) for the period | 9904 | €9,218 | €13,081 | +€3,863 | +41.9% |
| Profit (loss) for the period to be appropriated | 9905 | €9,218 | €13,081 | +€3,863 | +41.9% |
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 18 October 2026 via checked.be.