VC CAPITAL ADVISORY: 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.
VC CAPITAL ADVISORY
Largest movements
- Tangible fixed assets +€1.4m
new in 2025: €1.4m
- Cash -€121,747
down €121,747 (-68.7%), from €177,115 to €55,368
mainly Investment in fixed assets (net) (-€1.6m) and Trade debts (-€41,326)
- Receivables within one year -€16,507
down €16,507 (-96.1%), from €17,171 to €664
- Debts after one year +€1.3m
new in 2025: €1.3m
- Trade debts -€41,326
down €41,326 (-99.7%), from €41,453 to €127
- Other debts +€37,824
up €37,824 (+4,643%), from €815 to €38,638
- Current portion of long-term debt +€25,065
new in 2025: €25,065
- Depreciation +€187,414
new in 2025: €187,414
- Taxes -€42,724
down €42,724 (-96.2%), from €44,418 to €1,693
- Gross operating margin +€26,618
up €26,618 (+15.5%), from €171,671 to €198,289
- Financial charges +€9,369
up €9,369 (+22,051%), from €42 to €9,412
of which Financial charges: +€9,369
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 | €231,914 | €1,535,443 | +€1.3m | +562% |
| Fixed assets | 21/28 | - | €1,443,836 | +€1.4m | |
| Tangible fixed assets | 22/27 | - | €1,443,836 | +€1.4m | |
| Land and buildings | 22 | - | €1,443,836 | +€1.4m | |
| Current assets | 29/58 | €231,914 | €91,607 | -€140,307 | -60.5% |
| Amounts receivable after more than one year | 29 | €1,400 | €0 | -€1,400 | -100% |
| Other amounts receivable | 291 | €1,400 | €0 | -€1,400 | -100% |
| Stocks and contracts in progress | 3 | €35,537 | €35,537 | = | 0.0% |
| Stocks | 30/36 | €35,537 | €35,537 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €17,171 | €664 | -€16,507 | -96.1% |
| Trade receivables | 40 | €17,171 | €664 | -€16,507 | -96.1% |
| Cash at bank and in hand | 54/58 | €177,115 | €55,368 | -€121,747 | -68.7% |
| Deferred charges and accrued income | 490/1 | €691 | €38 | -€653 | -94.5% |
| Total equity and liabilities | 10/49 | €231,914 | €1,535,443 | +€1.3m | +562% |
| Equity | 10/15 | €143,880 | €142,972 | -€908 | -0.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €140,880 | €139,972 | -€908 | -0.6% |
| Distributable reserves | 133 | €140,880 | €139,972 | -€908 | -0.6% |
| Amounts payable | 17/49 | €88,034 | €1,392,471 | +€1.3m | +1,482% |
| Amounts payable after more than one year | 17 | - | €1,278,046 | +€1.3m | |
| Financial debts | 170/4 | - | €1,278,046 | +€1.3m | |
| Amounts payable within one year | 42/48 | €88,034 | €110,728 | +€22,694 | +25.8% |
| Current portion of amounts payable after more than one year | 42 | - | €25,065 | +€25,065 | |
| Trade debts | 44 | €41,453 | €127 | -€41,326 | -99.7% |
| Suppliers | 440/4 | €41,453 | €127 | -€41,326 | -99.7% |
| Advances received on contracts in progress | 46 | - | €135 | +€135 | |
| Taxes, remuneration and social security | 45 | €45,766 | €46,764 | +€998 | +2.2% |
| Taxes | 450/3 | €45,766 | €46,764 | +€998 | +2.2% |
| Other amounts payable | 47/48 | €815 | €38,638 | +€37,824 | +4,643% |
| Accrued charges and deferred income | 492/3 | - | €3,697 | +€3,697 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €187,414 | +€187,414 | |
| Other operating charges | 640/8 | €63 | €678 | +€615 | +975% |
| Gross operating margin | 9900 | €171,671 | €198,289 | +€26,618 | +15.5% |
| Operating profit (loss) | 9901 | €171,608 | €10,197 | -€161,411 | -94.1% |
| Financial income | 75/76B | €1,314 | €0 | -€1,314 | -100.0% |
| Recurring financial income | 75 | €1,314 | €0 | -€1,314 | -100% |
| Non-recurring financial income | 76B | - | €0 | +€0 | |
| Financial charges | 65/66B | €42 | €9,412 | +€9,369 | +22,051% |
| Recurring financial charges | 65 | €42 | €9,412 | +€9,369 | +22,056% |
| Non-recurring financial charges | 66B | €0 | €0 | -€0 | -100% |
| Profit (loss) for the period before taxes | 9903 | €172,880 | €786 | -€172,095 | -99.5% |
| Income taxes | 67/77 | €44,418 | €1,693 | -€42,724 | -96.2% |
| Profit (loss) for the period | 9904 | €128,462 | -€908 | -€129,370 | |
| Profit (loss) for the period to be appropriated | 9905 | €128,462 | -€908 | -€129,370 |
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 28 October 2026 via checked.be.