V & V PARTNERSHIP: 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 PARTNERSHIP
Largest movements
- Receivables within one year -€290,437
down €290,437 (-56.3%), from €515,430 to €224,993
of which Trade receivables: -€287,099
- Cash +€53,837
up €53,837 (+113%), from €47,690 to €101,526
mainly Receivables within one year (+€290,437) and Depreciation (+€15,832)
- Intangible fixed assets -€9,433
down €9,433 (-42.5%), from €22,217 to €12,784
- Financial fixed assets -€8,000
down €8,000 (-69.1%), from €11,570 to €3,570
- Profit (loss) carried forward -€107,539
down €107,539 (-8.0%), from -€1.3m to -€1.5m
- Tax, wage and social debts -€105,734
down €105,734 (-44.9%), from €235,462 to €129,728
of which Remuneration and social security: -€85,278
- Accrued charges and deferred income -€29,295
no longer reported in 2024 (was €29,295)
- Trade debts -€13,597
down €13,597 (-9.9%), from €138,010 to €124,413
- Gross operating margin -€373,898
down €373,898 (-47.8%), from €782,905 to €409,007
- Staff costs -€235,550
down €235,550 (-32.0%), from €734,972 to €499,422
- Financial income +€19,568
up €19,568 (+522%), from €3,750 to €23,318
- Depreciation -€17,393
down €17,393 (-52.3%), from €33,225 to €15,832
- Financial charges +€16,526
up €16,526 (+351%), from €4,708 to €21,234
of which Financial charges: +€17,998
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.
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.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €699,768 | €443,603 | -€256,164 | -36.6% |
| Fixed assets | 21/28 | €46,142 | €26,971 | -€19,171 | -41.5% |
| Intangible fixed assets | 21 | €22,217 | €12,784 | -€9,433 | -42.5% |
| Tangible fixed assets | 22/27 | €12,355 | €10,617 | -€1,738 | -14.1% |
| Land and buildings | 22 | €1,020 | €370 | -€650 | -63.7% |
| Plant, machinery and equipment | 23 | €6,583 | €4,506 | -€2,077 | -31.6% |
| Furniture and vehicles | 24 | €4,752 | €5,741 | +€989 | +20.8% |
| Financial fixed assets | 28 | €11,570 | €3,570 | -€8,000 | -69.1% |
| Current assets | 29/58 | €653,626 | €416,632 | -€236,994 | -36.3% |
| Amounts receivable after more than one year | 29 | €69,788 | €72,587 | +€2,799 | +4.0% |
| Other amounts receivable | 291 | €69,788 | €72,587 | +€2,799 | +4.0% |
| Stocks and contracts in progress | 3 | €18,878 | €15,225 | -€3,653 | -19.4% |
| Stocks | 30/36 | €18,878 | €15,225 | -€3,653 | -19.4% |
| Amounts receivable within one year | 40/41 | €515,430 | €224,993 | -€290,437 | -56.3% |
| Trade receivables | 40 | €466,021 | €178,923 | -€287,099 | -61.6% |
| Other amounts receivable | 41 | €49,409 | €46,071 | -€3,338 | -6.8% |
| Cash at bank and in hand | 54/58 | €47,690 | €101,526 | +€53,837 | +113% |
| Deferred charges and accrued income | 490/1 | €1,840 | €2,301 | +€461 | +25.1% |
| Total equity and liabilities | 10/49 | €699,768 | €443,603 | -€256,164 | -36.6% |
| Equity | 10/15 | €297,002 | €189,462 | -€107,539 | -36.2% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Capital | 10 | €40,000 | €40,000 | = | 0.0% |
| Issued capital | 100 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €1,604,000 | €1,604,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,000 | €4,000 | = | 0.0% |
| Legal reserve | 130 | €4,000 | €4,000 | = | 0.0% |
| Distributable reserves | 133 | €1,600,000 | €1,600,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,346,998 | -€1,454,538 | -€107,539 | -8.0% |
| Amounts payable | 17/49 | €402,766 | €254,141 | -€148,625 | -36.9% |
| Amounts payable within one year | 42/48 | €373,472 | €254,141 | -€119,331 | -32.0% |
| Trade debts | 44 | €138,010 | €124,413 | -€13,597 | -9.9% |
| Suppliers | 440/4 | €138,010 | €124,413 | -€13,597 | -9.9% |
| Taxes, remuneration and social security | 45 | €235,462 | €129,728 | -€105,734 | -44.9% |
| Taxes | 450/3 | €47,606 | €27,151 | -€20,455 | -43.0% |
| Remuneration and social security | 454/9 | €187,856 | €102,578 | -€85,278 | -45.4% |
| Accrued charges and deferred income | 492/3 | €29,295 | - | -€29,295 | |
| Remuneration, social security and pensions | 62 | €734,972 | €499,422 | -€235,550 | -32.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,225 | €15,832 | -€17,393 | -52.3% |
| Other operating charges | 640/8 | €12,428 | €2,839 | -€9,588 | -77.2% |
| Gross operating margin | 9900 | €782,905 | €409,007 | -€373,898 | -47.8% |
| Operating profit (loss) | 9901 | €2,281 | -€109,086 | -€111,367 | |
| Financial income | 75/76B | €3,750 | €23,318 | +€19,568 | +522% |
| Recurring financial income | 75 | €3,750 | €23,318 | +€19,568 | +522% |
| Financial charges | 65/66B | €4,708 | €21,234 | +€16,526 | +351% |
| Recurring financial charges | 65 | €3,235 | €21,234 | +€17,998 | +556% |
| Non-recurring financial charges | 66B | €1,472 | - | -€1,472 | |
| Profit (loss) for the period before taxes | 9903 | €1,323 | -€107,002 | -€108,325 | |
| Income taxes | 67/77 | €391 | €538 | +€146 | +37.5% |
| Profit (loss) for the period | 9904 | €932 | -€107,539 | -€108,471 | |
| Profit (loss) for the period to be appropriated | 9905 | €932 | -€107,539 | -€108,471 |
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 30 October 2026 via checked.be.