V & V - TRANS: 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 - TRANS
Largest movements
- Cash +€39,503
up €39,503 (+55.4%), from €71,266 to €110,768
mainly Net result for the year (+€80,158) and Depreciation (+€37,292)
- Tangible fixed assets -€33,444
down €33,444 (-18.4%), from €181,876 to €148,432
of which Leasing and similar rights: -€33,311
- Deferred charges and accrued income +€31,268
up €31,268 (+474.0%), from €6,596 to €37,865
- Receivables within one year -€5,175
down €5,175 (-7.7%), from €67,616 to €62,441
of which Trade receivables: -€9,254
- Reserves +€40,250
up €40,250 (+29.7%), from €135,750 to €176,000
- Other debts +€27,868
up €27,868 (+214.1%), from €13,017 to €40,885
- Debts after one year -€22,965
down €22,965 (-19.3%), from €119,268 to €96,303
- Current portion of long-term debt -€21,546
down €21,546 (-48.4%), from €44,511 to €22,965
- Tax, wage and social debts +€5,708
up €5,708 (+48.8%), from €11,686 to €17,394
- Gross operating margin +€15,833
up €15,833 (+8.6%), from €184,875 to €200,708
- Depreciation -€10,228
down €10,228 (-21.5%), from €47,520 to €37,292
- Other operating charges +€9,844
up €9,844 (+35.5%), from €27,690 to €37,534
- Taxes +€6,127
up €6,127 (+23.0%), from €26,618 to €32,744
- Financial charges -€2,234
down €2,234 (-13.8%), from €16,188 to €13,954
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 | €359,854 | €392,006 | +€32,152 | +8.9% |
| Fixed assets | 21/28 | €181,876 | €148,432 | -€33,444 | -18.4% |
| Tangible fixed assets | 22/27 | €181,876 | €148,432 | -€33,444 | -18.4% |
| Plant, machinery and equipment | 23 | €15,447 | €13,506 | -€1,942 | -12.6% |
| Furniture and vehicles | 24 | €4,713 | - | -€4,713 | |
| Leasing and similar rights | 25 | €152,129 | €118,818 | -€33,311 | -21.9% |
| Other tangible fixed assets | 26 | €9,587 | €16,108 | +€6,522 | +68.0% |
| Current assets | 29/58 | €177,978 | €243,574 | +€65,596 | +36.9% |
| Amounts receivable after more than one year | 29 | €32,500 | €32,500 | = | 0.0% |
| Other amounts receivable | 291 | €32,500 | €32,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €67,616 | €62,441 | -€5,175 | -7.7% |
| Trade receivables | 40 | €51,118 | €41,864 | -€9,254 | -18.1% |
| Other amounts receivable | 41 | €16,498 | €20,578 | +€4,080 | +24.7% |
| Cash at bank and in hand | 54/58 | €71,266 | €110,768 | +€39,503 | +55.4% |
| Deferred charges and accrued income | 490/1 | €6,596 | €37,865 | +€31,268 | +474.0% |
| Total equity and liabilities | 10/49 | €359,854 | €392,006 | +€32,152 | +8.9% |
| Equity | 10/15 | €151,566 | €191,974 | +€40,408 | +26.7% |
| Contributions | 10/11 | €12,800 | €12,800 | = | 0.0% |
| Reserves | 13 | €135,750 | €176,000 | +€40,250 | +29.7% |
| Distributable reserves | 133 | €135,750 | €176,000 | +€40,250 | +29.7% |
| Profit (loss) carried forward | 14 | €3,016 | €3,174 | +€158 | +5.2% |
| Amounts payable | 17/49 | €208,288 | €200,032 | -€8,256 | -4.0% |
| Amounts payable after more than one year | 17 | €119,268 | €96,303 | -€22,965 | -19.3% |
| Financial debts | 170/4 | €119,268 | €96,303 | -€22,965 | -19.3% |
| Amounts payable within one year | 42/48 | €89,020 | €103,729 | +€14,709 | +16.5% |
| Current portion of amounts payable after more than one year | 42 | €44,511 | €22,965 | -€21,546 | -48.4% |
| Financial debts | 43 | €73 | €48 | -€26 | -35.1% |
| Credit institutions | 430/8 | €73 | €48 | -€26 | -35.1% |
| Trade debts | 44 | €19,733 | €22,437 | +€2,704 | +13.7% |
| Suppliers | 440/4 | €19,733 | €22,437 | +€2,704 | +13.7% |
| Taxes, remuneration and social security | 45 | €11,686 | €17,394 | +€5,708 | +48.8% |
| Taxes | 450/3 | €11,686 | €17,394 | +€5,708 | +48.8% |
| Other amounts payable | 47/48 | €13,017 | €40,885 | +€27,868 | +214.1% |
| Non-recurring operating income | 76A | - | €21,287 | +€21,287 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,520 | €37,292 | -€10,228 | -21.5% |
| Other operating charges | 640/8 | €27,690 | €37,534 | +€9,844 | +35.5% |
| Gross operating margin | 9900 | €184,875 | €200,708 | +€15,833 | +8.6% |
| Operating profit (loss) | 9901 | €109,664 | €125,881 | +€16,217 | +14.8% |
| Financial income | 75/76B | €722 | €976 | +€254 | +35.1% |
| Recurring financial income | 75 | €722 | €976 | +€254 | +35.1% |
| Financial charges | 65/66B | €16,188 | €13,954 | -€2,234 | -13.8% |
| Recurring financial charges | 65 | €16,188 | €13,954 | -€2,234 | -13.8% |
| Profit (loss) for the period before taxes | 9903 | €94,198 | €112,903 | +€18,704 | +19.9% |
| Income taxes | 67/77 | €26,618 | €32,744 | +€6,127 | +23.0% |
| Profit (loss) for the period | 9904 | €67,581 | €80,158 | +€12,577 | +18.6% |
| Profit (loss) for the period to be appropriated | 9905 | €67,581 | €80,158 | +€12,577 | +18.6% |
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 11 October 2026 via checked.be.