V.V.S.D.: 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.S.D.
Largest movements
- Cash +€81,474
up €81,474 (+66.2%), from €123,050 to €204,524
mainly Other debts (+€103,553) and Depreciation (+€54,538)
- Tangible fixed assets -€51,800
down €51,800 (-12.3%), from €421,764 to €369,964
of which Land and buildings: -€49,530
- Other debts +€103,553
up €103,553 (+1,162%), from €8,912 to €112,465
- Reserves -€54,395
down €54,395 (-31.3%), from €173,702 to €119,307
of which Distributable reserves: -€54,395
- Debts after one year -€36,544
down €36,544 (-14.8%), from €247,044 to €210,500
of which Financial debts: -€36,544
- Tax, wage and social debts +€12,423
up €12,423 (+35.2%), from €35,313 to €47,736
of which Taxes: +€13,738
- Staff costs -€12,516
down €12,516 (-12.1%), from €103,089 to €90,573
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 | €564,297 | €592,205 | +€27,908 | +4.9% |
| Fixed assets | 21/28 | €422,264 | €369,964 | -€52,300 | -12.4% |
| Tangible fixed assets | 22/27 | €421,764 | €369,964 | -€51,800 | -12.3% |
| Land and buildings | 22 | €410,770 | €361,240 | -€49,530 | -12.1% |
| Plant, machinery and equipment | 23 | €10,933 | €8,724 | -€2,209 | -20.2% |
| Furniture and vehicles | 24 | €61 | - | -€61 | |
| Financial fixed assets | 28 | €500 | - | -€500 | |
| Current assets | 29/58 | €142,032 | €222,241 | +€80,209 | +56.5% |
| Stocks and contracts in progress | 3 | €9,942 | €9,763 | -€179 | -1.8% |
| Stocks | 30/36 | €9,942 | €9,763 | -€179 | -1.8% |
| Amounts receivable within one year | 40/41 | €7,677 | €6,096 | -€1,580 | -20.6% |
| Trade receivables | 40 | €6,675 | €5,079 | -€1,595 | -23.9% |
| Other amounts receivable | 41 | €1,002 | €1,017 | +€15 | +1.5% |
| Cash at bank and in hand | 54/58 | €123,050 | €204,524 | +€81,474 | +66.2% |
| Deferred charges and accrued income | 490/1 | €1,364 | €1,858 | +€494 | +36.2% |
| Total equity and liabilities | 10/49 | €564,297 | €592,205 | +€27,908 | +4.9% |
| Equity | 10/15 | €231,205 | €176,810 | -€54,395 | -23.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €173,702 | €119,307 | -€54,395 | -31.3% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €171,702 | €117,307 | -€54,395 | -31.7% |
| Profit (loss) carried forward | 14 | €37,503 | €37,503 | = | 0.0% |
| Amounts payable | 17/49 | €333,092 | €415,395 | +€82,303 | +24.7% |
| Amounts payable after more than one year | 17 | €247,044 | €210,500 | -€36,544 | -14.8% |
| Financial debts | 170/4 | €226,365 | €189,821 | -€36,544 | -16.1% |
| Other amounts payable | 178/9 | €20,679 | €20,679 | = | 0.0% |
| Amounts payable within one year | 42/48 | €86,048 | €204,895 | +€118,847 | +138% |
| Current portion of amounts payable after more than one year | 42 | €38,980 | €36,689 | -€2,292 | -5.9% |
| Trade debts | 44 | €2,843 | €8,005 | +€5,163 | +182% |
| Suppliers | 440/4 | €2,843 | €8,005 | +€5,163 | +182% |
| Taxes, remuneration and social security | 45 | €35,313 | €47,736 | +€12,423 | +35.2% |
| Taxes | 450/3 | €23,896 | €37,634 | +€13,738 | +57.5% |
| Remuneration and social security | 454/9 | €11,417 | €10,102 | -€1,315 | -11.5% |
| Other amounts payable | 47/48 | €8,912 | €112,465 | +€103,553 | +1,162% |
| Remuneration, social security and pensions | 62 | €103,089 | €90,573 | -€12,516 | -12.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,983 | €54,538 | +€1,555 | +2.9% |
| Other operating charges | 640/8 | €2,459 | €2,851 | +€392 | +15.9% |
| Gross operating margin | 9900 | €234,253 | €232,955 | -€1,298 | -0.6% |
| Operating profit (loss) | 9901 | €75,723 | €84,993 | +€9,270 | +12.2% |
| Financial income | 75/76B | €16 | €68 | +€51 | +314% |
| Recurring financial income | 75 | €16 | €68 | +€51 | +314% |
| Financial charges | 65/66B | €14,723 | €16,070 | +€1,347 | +9.1% |
| Recurring financial charges | 65 | €14,723 | €16,070 | +€1,347 | +9.1% |
| Profit (loss) for the period before taxes | 9903 | €61,016 | €68,990 | +€7,974 | +13.1% |
| Income taxes | 67/77 | €20,067 | €19,476 | -€591 | -2.9% |
| Profit (loss) for the period | 9904 | €40,949 | €49,514 | +€8,565 | +20.9% |
| Profit (loss) for the period to be appropriated | 9905 | €40,949 | €49,514 | +€8,565 | +20.9% |
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 23 October 2026 via checked.be.