VC HANDLING: what changed
Two fiscal 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 HANDLING
Largest movements
- Current investments -€134,514
down €134,514 (-86.5%), from €155,514 to €21,000
- Cash -€12,197
down €12,197 (-41.9%), from €29,138 to €16,941
mainly Contributions, distributions and other (-€243,500) and Tax, wage and social debts (-€13,557)
- Tangible fixed assets -€6,874
down €6,874 (-12.3%), from €56,047 to €49,173
of which Furniture and vehicles: -€16,303
- Receivables within one year +€6,769
up €6,769 (+23.4%), from €28,964 to €35,733
of which Trade receivables: +€6,087
- Reserves -€145,789
down €145,789 (-59.9%), from €243,500 to €97,711
- Tax, wage and social debts -€13,557
down €13,557 (-71.2%), from €19,049 to €5,492
- Other debts +€12,197
up €12,197 (+317.2%), from €3,845 to €16,042
- Gross operating margin +€27,501
up €27,501 (+28.3%), from €97,024 to €124,526
- Financial income +€14,499
up €14,499 (+810.9%), from €1,788 to €16,287
- Taxes +€4,647
up €4,647 (+27.8%), from €16,747 to €21,394
- Other operating charges +€1,695
up €1,695 (+199.2%), from €851 to €2,546
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 | €271,969 | €125,399 | -€146,570 | -53.9% |
| Fixed assets | 21/28 | €56,047 | €49,173 | -€6,874 | -12.3% |
| Tangible fixed assets | 22/27 | €56,047 | €49,173 | -€6,874 | -12.3% |
| Plant, machinery and equipment | 23 | €638 | €980 | +€341 | +53.5% |
| Furniture and vehicles | 24 | €54,924 | €38,621 | -€16,303 | -29.7% |
| Other tangible fixed assets | 26 | €484 | €9,573 | +€9,088 | +1877.0% |
| Current assets | 29/58 | €215,922 | €76,226 | -€139,697 | -64.7% |
| Amounts receivable within one year | 40/41 | €28,964 | €35,733 | +€6,769 | +23.4% |
| Trade receivables | 40 | €28,595 | €34,682 | +€6,087 | +21.3% |
| Other amounts receivable | 41 | €370 | €1,051 | +€681 | +184.3% |
| Current investments | 50/53 | €155,514 | €21,000 | -€134,514 | -86.5% |
| Cash at bank and in hand | 54/58 | €29,138 | €16,941 | -€12,197 | -41.9% |
| Deferred charges and accrued income | 490/1 | €2,306 | €2,551 | +€245 | +10.6% |
| Total equity and liabilities | 10/49 | €271,969 | €125,399 | -€146,570 | -53.9% |
| Equity | 10/15 | €248,514 | €102,711 | -€145,803 | -58.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €243,500 | €97,711 | -€145,789 | -59.9% |
| Distributable reserves | 133 | €243,500 | €97,711 | -€145,789 | -59.9% |
| Profit (loss) carried forward | 14 | €14 | €0 | -€14 | -100.0% |
| Amounts payable | 17/49 | €23,455 | €22,688 | -€767 | -3.3% |
| Amounts payable within one year | 42/48 | €23,455 | €22,688 | -€767 | -3.3% |
| Trade debts | 44 | €561 | €1,154 | +€593 | +105.8% |
| Suppliers | 440/4 | €561 | €1,154 | +€593 | +105.8% |
| Taxes, remuneration and social security | 45 | €19,049 | €5,492 | -€13,557 | -71.2% |
| Taxes | 450/3 | €19,049 | €5,492 | -€13,557 | -71.2% |
| Other amounts payable | 47/48 | €3,845 | €16,042 | +€12,197 | +317.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,690 | €19,131 | -€559 | -2.8% |
| Other operating charges | 640/8 | €851 | €2,546 | +€1,695 | +199.2% |
| Gross operating margin | 9900 | €97,024 | €124,526 | +€27,501 | +28.3% |
| Operating profit (loss) | 9901 | €76,483 | €102,849 | +€26,366 | +34.5% |
| Financial income | 75/76B | €1,788 | €16,287 | +€14,499 | +810.9% |
| Recurring financial income | 75 | €1,788 | €16,287 | +€14,499 | +810.9% |
| Financial charges | 65/66B | €49 | €44 | -€4 | -8.5% |
| Recurring financial charges | 65 | €49 | €44 | -€4 | -8.5% |
| Profit (loss) for the period before taxes | 9903 | €78,223 | €119,091 | +€40,868 | +52.2% |
| Income taxes | 67/77 | €16,747 | €21,394 | +€4,647 | +27.8% |
| Profit (loss) for the period | 9904 | €61,476 | €97,697 | +€36,221 | +58.9% |
| Profit (loss) for the period to be appropriated | 9905 | €61,476 | €97,697 | +€36,221 | +58.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.