VA-DC: 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.
VA-DC
Largest movements
- Cash +€31,292
up €31,292 (+562.6%), from €5,563 to €36,855
mainly Receivables within one year (+€28,129) and Net result for the year (+€24,293)
- Receivables within one year -€28,129
down €28,129 (-41.4%), from €67,983 to €39,853
of which Other amounts receivable: -€41,241
- Tangible fixed assets +€17,030
up €17,030 (+6.0%), from €285,575 to €302,605
of which Plant, machinery and equipment: +€26,444
- Reserves +€54,164
new in 2025: €54,164
- Profit (loss) carried forward -€32,871
no longer reported in 2025 (was €32,871)
- Tax, wage and social debts +€12,612
up €12,612 (+152.7%), from €8,261 to €20,873
- Other debts -€10,412
down €10,412 (-40.0%), from €26,025 to €15,613
- Trade debts +€7,643
up €7,643 (+368.2%), from €2,076 to €9,718
- Gross operating margin +€38,976
up €38,976 (+110.1%), from €35,396 to €74,372
- Other operating charges +€8,226
up €8,226 (+370.3%), from €2,221 to €10,447
- Depreciation +€7,061
up €7,061 (+61.3%), from €11,512 to €18,574
- Taxes +€6,431
up €6,431 (+3232.2%), from €199 to €6,630
- Financial charges +€6,357
up €6,357 (+77.8%), from €8,170 to €14,527
of which Financial charges: +€6,557
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 | €360,157 | €383,741 | +€23,583 | +6.5% |
| Formation expenses | 20 | €38 | - | -€38 | |
| Fixed assets | 21/28 | €285,575 | €302,605 | +€17,030 | +6.0% |
| Tangible fixed assets | 22/27 | €285,575 | €302,605 | +€17,030 | +6.0% |
| Land and buildings | 22 | €262,171 | €275,261 | +€13,090 | +5.0% |
| Plant, machinery and equipment | 23 | €900 | €27,344 | +€26,444 | +2939.3% |
| Furniture and vehicles | 24 | €22,505 | - | -€22,505 | |
| Current assets | 29/58 | €74,545 | €81,135 | +€6,590 | +8.8% |
| Stocks and contracts in progress | 3 | €1,000 | €3,721 | +€2,721 | +272.1% |
| Stocks | 30/36 | €1,000 | €3,721 | +€2,721 | +272.1% |
| Amounts receivable within one year | 40/41 | €67,983 | €39,853 | -€28,129 | -41.4% |
| Trade receivables | 40 | €23,688 | €36,800 | +€13,112 | +55.4% |
| Other amounts receivable | 41 | €44,295 | €3,054 | -€41,241 | -93.1% |
| Cash at bank and in hand | 54/58 | €5,563 | €36,855 | +€31,292 | +562.6% |
| Deferred charges and accrued income | 490/1 | - | €706 | +€706 | |
| Total equity and liabilities | 10/49 | €360,157 | €383,741 | +€23,583 | +6.5% |
| Equity | 10/15 | €34,871 | €56,164 | +€21,293 | +61.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | - | €54,164 | +€54,164 | |
| Distributable reserves | 133 | - | €54,164 | +€54,164 | |
| Profit (loss) carried forward | 14 | €32,871 | - | -€32,871 | |
| Amounts payable | 17/49 | €325,287 | €327,577 | +€2,290 | +0.7% |
| Amounts payable after more than one year | 17 | €267,066 | €262,804 | -€4,263 | -1.6% |
| Financial debts | 170/4 | €267,066 | €262,804 | -€4,263 | -1.6% |
| Amounts payable within one year | 42/48 | €58,220 | €64,773 | +€6,553 | +11.3% |
| Current portion of amounts payable after more than one year | 42 | €21,859 | €18,568 | -€3,290 | -15.1% |
| Trade debts | 44 | €2,076 | €9,718 | +€7,643 | +368.2% |
| Suppliers | 440/4 | €2,076 | €9,718 | +€7,643 | +368.2% |
| Taxes, remuneration and social security | 45 | €8,261 | €20,873 | +€12,612 | +152.7% |
| Taxes | 450/3 | €8,261 | €20,873 | +€12,612 | +152.7% |
| Other amounts payable | 47/48 | €26,025 | €15,613 | -€10,412 | -40.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,512 | €18,574 | +€7,061 | +61.3% |
| Other operating charges | 640/8 | €2,221 | €10,447 | +€8,226 | +370.3% |
| Non-recurring operating charges | 66A | €216 | - | -€216 | |
| Gross operating margin | 9900 | €35,396 | €74,372 | +€38,976 | +110.1% |
| Operating profit (loss) | 9901 | €21,446 | €45,352 | +€23,905 | +111.5% |
| Financial income | 75/76B | €241 | €99 | -€142 | -58.8% |
| Recurring financial income | 75 | €241 | €99 | -€142 | -58.8% |
| Financial charges | 65/66B | €8,170 | €14,527 | +€6,357 | +77.8% |
| Recurring financial charges | 65 | €7,970 | €14,527 | +€6,557 | +82.3% |
| Non-recurring financial charges | 66B | €200 | - | -€200 | |
| Profit (loss) for the period before taxes | 9903 | €13,517 | €30,924 | +€17,407 | +128.8% |
| Income taxes | 67/77 | €199 | €6,630 | +€6,431 | +3232.2% |
| Profit (loss) for the period | 9904 | €13,318 | €24,293 | +€10,975 | +82.4% |
| Profit (loss) for the period to be appropriated | 9905 | €13,318 | €24,293 | +€10,975 | +82.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.