VCA MANAGEMENT: 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.
VCA MANAGEMENT
Largest movements
- Cash +€17,423
up €17,423 (+3346.3%), from €521 to €17,944
mainly Advances received (+€18,699) and Net result for the year (+€15,984)
- Receivables within one year -€14,548
down €14,548 (-19.9%), from €73,221 to €58,673
of which Trade receivables: -€35,621
- Tangible fixed assets -€13,500
down €13,500 (-36.8%), from €36,701 to €23,201
- Trade debts -€41,342
down €41,342 (-72.0%), from €57,453 to €16,110
- Advances received +€18,699
new in 2025: €18,699
- Profit (loss) carried forward +€15,984
up €15,984 (+259.5%), from €6,158 to €22,142
- Debts after one year -€4,573
down €4,573 (-15.5%), from €29,466 to €24,893
- Gross operating margin +€15,244
up €15,244 (+71.3%), from €21,376 to €36,620
- Depreciation +€9,701
up €9,701 (+255.3%), from €3,799 to €13,500
- Taxes +€2,434
up €2,434 (+79.0%), from €3,082 to €5,516
- Financial charges +€1,990
up €1,990 (+402.1%), from €495 to €2,485
- Financial income +€792
up €792 (+1099.2%), from €72 to €864
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 | €110,442 | €99,818 | -€10,624 | -9.6% |
| Fixed assets | 21/28 | €36,701 | €23,201 | -€13,500 | -36.8% |
| Tangible fixed assets | 22/27 | €36,701 | €23,201 | -€13,500 | -36.8% |
| Furniture and vehicles | 24 | €36,701 | €23,201 | -€13,500 | -36.8% |
| Current assets | 29/58 | €73,741 | €76,617 | +€2,876 | +3.9% |
| Amounts receivable within one year | 40/41 | €73,221 | €58,673 | -€14,548 | -19.9% |
| Trade receivables | 40 | €69,768 | €34,147 | -€35,621 | -51.1% |
| Other amounts receivable | 41 | €3,452 | €24,526 | +€21,073 | +610.4% |
| Cash at bank and in hand | 54/58 | €521 | €17,944 | +€17,423 | +3346.3% |
| Total equity and liabilities | 10/49 | €110,442 | €99,818 | -€10,624 | -9.6% |
| Equity | 10/15 | €9,158 | €25,142 | +€15,984 | +174.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,158 | €22,142 | +€15,984 | +259.5% |
| Amounts payable | 17/49 | €101,284 | €74,676 | -€26,608 | -26.3% |
| Amounts payable after more than one year | 17 | €29,466 | €24,893 | -€4,573 | -15.5% |
| Financial debts | 170/4 | €29,466 | €24,893 | -€4,573 | -15.5% |
| Amounts payable within one year | 42/48 | €71,818 | €49,783 | -€22,035 | -30.7% |
| Current portion of amounts payable after more than one year | 42 | €4,274 | €4,573 | +€299 | +7.0% |
| Trade debts | 44 | €57,453 | €16,110 | -€41,342 | -72.0% |
| Suppliers | 440/4 | €57,453 | €16,110 | -€41,342 | -72.0% |
| Advances received on contracts in progress | 46 | - | €18,699 | +€18,699 | |
| Taxes, remuneration and social security | 45 | €10,091 | €10,400 | +€309 | +3.1% |
| Taxes | 450/3 | €10,091 | €10,400 | +€309 | +3.1% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,799 | €13,500 | +€9,701 | +255.3% |
| Gross operating margin | 9900 | €21,376 | €36,620 | +€15,244 | +71.3% |
| Operating profit (loss) | 9901 | €17,577 | €23,120 | +€5,543 | +31.5% |
| Financial income | 75/76B | €72 | €864 | +€792 | +1099.2% |
| Recurring financial income | 75 | €72 | €864 | +€792 | +1099.2% |
| Financial charges | 65/66B | €495 | €2,485 | +€1,990 | +402.1% |
| Recurring financial charges | 65 | €495 | €2,485 | +€1,990 | +402.1% |
| Profit (loss) for the period before taxes | 9903 | €17,154 | €21,500 | +€4,346 | +25.3% |
| Income taxes | 67/77 | €3,082 | €5,516 | +€2,434 | +79.0% |
| Profit (loss) for the period | 9904 | €14,072 | €15,984 | +€1,912 | +13.6% |
| Profit (loss) for the period to be appropriated | 9905 | €14,072 | €15,984 | +€1,912 | +13.6% |
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 4 October 2026 via checked.be.