V3S Glass Systems: 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.
V3S Glass Systems
Largest movements
- Cash -€122,431
down €122,431 (-42.7%), from €286,623 to €164,193
mainly Receivables within one year (-€117,971) and Trade debts (-€111,228)
- Receivables within one year +€117,971
up €117,971 (+38.6%), from €305,988 to €423,959
of which Trade receivables: +€125,973
- Tangible fixed assets -€54,085
down €54,085 (-11.3%), from €477,171 to €423,086
of which Land and buildings: -€41,085
- Stocks and contracts -€51,232
down €51,232 (-13.0%), from €394,261 to €343,029
- Current investments +€32,000
up €32,000 (+31.0%), from €103,320 to €135,320
- Trade debts -€111,228
down €111,228 (-52.4%), from €212,195 to €100,966
- Tax, wage and social debts +€60,465
up €60,465 (+274%), from €22,042 to €82,507
of which Taxes: +€37,658
- Reserves +€39,093
up €39,093 (+5.0%), from €775,892 to €814,984
- Other debts -€33,241
down €33,241 (-34.3%), from €97,042 to €63,801
- Debts after one year -€27,770
down €27,770 (-25.9%), from €107,014 to €79,244
- Gross operating margin -€29,674
down €29,674 (-11.1%), from €267,932 to €238,259
- Taxes -€21,886
down €21,886 (-50.8%), from €43,041 to €21,156
- Write-downs +€9,594
up €9,594, from -€9,594 to €0
- Financial charges +€4,116
up €4,116 (+35.4%), from €11,642 to €15,758
- Staff costs +€2,895
up €2,895 (+3.3%), from €89,034 to €91,929
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 | €1,576,512 | €1,499,300 | -€77,212 | -4.9% |
| Fixed assets | 21/28 | €477,171 | €423,086 | -€54,085 | -11.3% |
| Tangible fixed assets | 22/27 | €477,171 | €423,086 | -€54,085 | -11.3% |
| Land and buildings | 22 | €381,618 | €340,533 | -€41,085 | -10.8% |
| Plant, machinery and equipment | 23 | €14,167 | €21,630 | +€7,463 | +52.7% |
| Furniture and vehicles | 24 | €32,587 | €28,936 | -€3,651 | -11.2% |
| Other tangible fixed assets | 26 | €48,799 | €31,987 | -€16,812 | -34.5% |
| Current assets | 29/58 | €1,099,341 | €1,076,214 | -€23,127 | -2.1% |
| Stocks and contracts in progress | 3 | €394,261 | €343,029 | -€51,232 | -13.0% |
| Stocks | 30/36 | €394,261 | €343,029 | -€51,232 | -13.0% |
| Amounts receivable within one year | 40/41 | €305,988 | €423,959 | +€117,971 | +38.6% |
| Trade receivables | 40 | €267,279 | €393,252 | +€125,973 | +47.1% |
| Other amounts receivable | 41 | €38,709 | €30,707 | -€8,003 | -20.7% |
| Current investments | 50/53 | €103,320 | €135,320 | +€32,000 | +31.0% |
| Cash at bank and in hand | 54/58 | €286,623 | €164,193 | -€122,431 | -42.7% |
| Deferred charges and accrued income | 490/1 | €9,149 | €9,713 | +€565 | +6.2% |
| Total equity and liabilities | 10/49 | €1,576,512 | €1,499,300 | -€77,212 | -4.9% |
| Equity | 10/15 | €1,099,592 | €1,138,684 | +€39,093 | +3.6% |
| Contributions | 10/11 | €323,700 | €323,700 | = | 0.0% |
| Reserves | 13 | €775,892 | €814,984 | +€39,093 | +5.0% |
| Distributable reserves | 133 | €775,892 | €814,984 | +€39,093 | +5.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €476,921 | €360,616 | -€116,305 | -24.4% |
| Amounts payable after more than one year | 17 | €107,014 | €79,244 | -€27,770 | -25.9% |
| Financial debts | 170/4 | €107,014 | €79,244 | -€27,770 | -25.9% |
| Amounts payable within one year | 42/48 | €366,432 | €275,610 | -€90,822 | -24.8% |
| Current portion of amounts payable after more than one year | 42 | €34,588 | €27,770 | -€6,818 | -19.7% |
| Trade debts | 44 | €212,195 | €100,966 | -€111,228 | -52.4% |
| Suppliers | 440/4 | €212,195 | €100,966 | -€111,228 | -52.4% |
| Advances received on contracts in progress | 46 | €566 | €566 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €22,042 | €82,507 | +€60,465 | +274% |
| Taxes | 450/3 | €2,454 | €40,112 | +€37,658 | +1,535% |
| Remuneration and social security | 454/9 | €19,588 | €42,395 | +€22,806 | +116% |
| Other amounts payable | 47/48 | €97,042 | €63,801 | -€33,241 | -34.3% |
| Accrued charges and deferred income | 492/3 | €3,475 | €5,762 | +€2,288 | +65.8% |
| Remuneration, social security and pensions | 62 | €89,034 | €91,929 | +€2,895 | +3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,321 | €73,018 | +€2,697 | +3.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€9,594 | €0 | +€9,594 | |
| Other operating charges | 640/8 | €1,310 | €1,690 | +€380 | +29.0% |
| Gross operating margin | 9900 | €267,932 | €238,259 | -€29,674 | -11.1% |
| Operating profit (loss) | 9901 | €116,862 | €71,621 | -€45,241 | -38.7% |
| Financial income | 75/76B | €6,827 | €4,386 | -€2,441 | -35.8% |
| Recurring financial income | 75 | €6,827 | €4,386 | -€2,441 | -35.8% |
| Financial charges | 65/66B | €11,642 | €15,758 | +€4,116 | +35.4% |
| Recurring financial charges | 65 | €11,642 | €15,758 | +€4,116 | +35.4% |
| Profit (loss) for the period before taxes | 9903 | €112,046 | €60,249 | -€51,798 | -46.2% |
| Income taxes | 67/77 | €43,041 | €21,156 | -€21,886 | -50.8% |
| Profit (loss) for the period | 9904 | €69,005 | €39,093 | -€29,912 | -43.3% |
| Profit (loss) for the period to be appropriated | 9905 | €69,005 | €39,093 | -€29,912 | -43.3% |
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 31 October 2026 via checked.be.