V & V PROJECTS: what changed
Two fiscal 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 PROJECTS
Largest movements
- Current investments -€150,000
down €150,000 (-27.3%), from €550,000 to €400,000
- Cash -€59,925
down €59,925 (-68.7%), from €87,176 to €27,251
mainly Other debts (-€151,568) and Trade debts (-€54,297)
- Receivables within one year -€50,049
down €50,049 (-90.1%), from €55,545 to €5,495
of which Trade receivables: -€53,412
- Stocks and contracts -€11,659
down €11,659 (-100.0%), from €11,662 to €3
- Other debts -€151,568
down €151,568 (-83.3%), from €181,855 to €30,288
- Trade debts -€54,297
down €54,297 (-99.0%), from €54,852 to €555
- Reserves -€40,021
down €40,021 (-9.4%), from €425,177 to €385,156
of which Distributable reserves: -€40,021
- Tax, wage and social debts -€18,671
down €18,671 (-92.1%), from €20,265 to €1,594
- Accrued charges and deferred income -€10,407
down €10,407 (-100.0%), from €10,407 to €0
- Gross operating margin -€642,358
down €642,358, from €621,066 to -€21,292
- Taxes -€179,265
down €179,265 (-100.0%), from €179,265 to €0
- Financial charges -€19,314
down €19,314 (-99.7%), from €19,368 to €54
- Financial income +€11,938
up €11,938 (+367.3%), from €3,250 to €15,188
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.
Cash bridge derived
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 | €711,157 | €436,193 | -€274,964 | -38.7% |
| Fixed assets | 21/28 | €2,892 | €2,200 | -€692 | -23.9% |
| Tangible fixed assets | 22/27 | €2,892 | €2,200 | -€692 | -23.9% |
| Plant, machinery and equipment | 23 | €315 | €120 | -€195 | -61.9% |
| Furniture and vehicles | 24 | €2,576 | €2,080 | -€497 | -19.3% |
| Current assets | 29/58 | €708,265 | €433,993 | -€274,272 | -38.7% |
| Stocks and contracts in progress | 3 | €11,662 | €3 | -€11,659 | -100.0% |
| Stocks | 30/36 | €11,662 | €3 | -€11,659 | -100.0% |
| Amounts receivable within one year | 40/41 | €55,545 | €5,495 | -€50,049 | -90.1% |
| Trade receivables | 40 | €53,412 | €0 | -€53,412 | -100.0% |
| Other amounts receivable | 41 | €2,132 | €5,495 | +€3,363 | +157.7% |
| Current investments | 50/53 | €550,000 | €400,000 | -€150,000 | -27.3% |
| Cash at bank and in hand | 54/58 | €87,176 | €27,251 | -€59,925 | -68.7% |
| Deferred charges and accrued income | 490/1 | €3,882 | €1,244 | -€2,638 | -68.0% |
| Total equity and liabilities | 10/49 | €711,157 | €436,193 | -€274,964 | -38.7% |
| Equity | 10/15 | €443,777 | €403,756 | -€40,021 | -9.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €425,177 | €385,156 | -€40,021 | -9.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €425,177 | €385,156 | -€40,021 | -9.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €267,379 | €32,437 | -€234,943 | -87.9% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €256,972 | €32,437 | -€224,536 | -87.4% |
| Trade debts | 44 | €54,852 | €555 | -€54,297 | -99.0% |
| Suppliers | 440/4 | €54,852 | €555 | -€54,297 | -99.0% |
| Taxes, remuneration and social security | 45 | €20,265 | €1,594 | -€18,671 | -92.1% |
| Taxes | 450/3 | €20,265 | €1,594 | -€18,671 | -92.1% |
| Other amounts payable | 47/48 | €181,855 | €30,288 | -€151,568 | -83.3% |
| Accrued charges and deferred income | 492/3 | €10,407 | €0 | -€10,407 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,526 | €1,435 | -€91 | -6.0% |
| Other operating charges | 640/8 | €1,078 | €546 | -€532 | -49.3% |
| Gross operating margin | 9900 | €621,066 | -€21,292 | -€642,358 | |
| Operating profit (loss) | 9901 | €618,461 | -€23,273 | -€641,735 | |
| Financial income | 75/76B | €3,250 | €15,188 | +€11,938 | +367.3% |
| Recurring financial income | 75 | €3,250 | €15,188 | +€11,938 | +367.3% |
| Financial charges | 65/66B | €19,368 | €54 | -€19,314 | -99.7% |
| Recurring financial charges | 65 | €19,368 | €54 | -€19,314 | -99.7% |
| Profit (loss) for the period before taxes | 9903 | €602,343 | -€8,139 | -€610,482 | |
| Income taxes | 67/77 | €179,265 | €0 | -€179,265 | -100.0% |
| Profit (loss) for the period | 9904 | €423,078 | -€8,139 | -€431,217 | |
| Profit (loss) for the period to be appropriated | 9905 | €423,078 | -€8,139 | -€431,217 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.