VCARS CENTER: 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.
VCARS CENTER
Largest movements
- Stocks and contracts +€23,963
up €23,963 (+52.5%), from €45,615 to €69,578
- Tangible fixed assets -€4,633
down €4,633 (-16.9%), from €27,475 to €22,842
of which Furniture and vehicles: -€3,228
- Cash -€1,989
down €1,989 (-31.4%), from €6,325 to €4,336
mainly Other debts (-€81,485) and Stocks and contracts (-€23,963)
- Receivables within one year +€1,758
up €1,758 (+140%), from €1,259 to €3,017
of which Trade receivables: +€1,698
- Other debts -€81,485
down €81,485 (-99.3%), from €82,068 to €583
- Debts after one year +€73,299
new in 2025: €73,299
- Reserves +€19,192
new in 2025: €19,192
- Tax, wage and social debts +€6,473
up €6,473 (+81.7%), from €7,921 to €14,394
of which Taxes: +€6,168
- Gross operating margin +€33,205
up €33,205 (+48.6%), from €68,378 to €101,582
- Taxes +€6,371
new in 2025: €6,371
- Depreciation +€2,525
up €2,525 (+46.8%), from €5,395 to €7,920
- Staff costs +€1,961
up €1,961 (+3.3%), from €60,081 to €62,042
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 | €94,066 | €113,623 | +€19,557 | +20.8% |
| Fixed assets | 21/28 | €31,554 | €27,246 | -€4,308 | -13.7% |
| Intangible fixed assets | 21 | €1,148 | €773 | -€375 | -32.7% |
| Tangible fixed assets | 22/27 | €27,475 | €22,842 | -€4,633 | -16.9% |
| Land and buildings | 22 | €536 | €361 | -€175 | -32.7% |
| Plant, machinery and equipment | 23 | €8,829 | €7,599 | -€1,230 | -13.9% |
| Furniture and vehicles | 24 | €18,110 | €14,882 | -€3,228 | -17.8% |
| Financial fixed assets | 28 | €2,931 | €3,631 | +€700 | +23.9% |
| Current assets | 29/58 | €62,512 | €86,377 | +€23,865 | +38.2% |
| Stocks and contracts in progress | 3 | €45,615 | €69,578 | +€23,963 | +52.5% |
| Stocks | 30/36 | €45,615 | €69,578 | +€23,963 | +52.5% |
| Amounts receivable within one year | 40/41 | €1,259 | €3,017 | +€1,758 | +140% |
| Trade receivables | 40 | €1,258 | €2,957 | +€1,698 | +135% |
| Other amounts receivable | 41 | €0 | €60 | +€60 | +12,943% |
| Cash at bank and in hand | 54/58 | €6,325 | €4,336 | -€1,989 | -31.4% |
| Deferred charges and accrued income | 490/1 | €9,313 | €9,446 | +€133 | +1.4% |
| Total equity and liabilities | 10/49 | €94,066 | €113,623 | +€19,557 | +20.8% |
| Equity | 10/15 | €2,041 | €22,192 | +€20,151 | +987% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | - | €19,192 | +€19,192 | |
| Distributable reserves | 133 | - | €19,192 | +€19,192 | |
| Profit (loss) carried forward | 14 | -€959 | €0 | +€959 | |
| Amounts payable | 17/49 | €92,024 | €91,430 | -€594 | -0.6% |
| Amounts payable after more than one year | 17 | - | €73,299 | +€73,299 | |
| Other amounts payable | 178/9 | - | €73,299 | +€73,299 | |
| Amounts payable within one year | 42/48 | €92,024 | €18,132 | -€73,892 | -80.3% |
| Trade debts | 44 | €2,036 | €3,155 | +€1,119 | +55.0% |
| Suppliers | 440/4 | €2,036 | €3,155 | +€1,119 | +55.0% |
| Taxes, remuneration and social security | 45 | €7,921 | €14,394 | +€6,473 | +81.7% |
| Taxes | 450/3 | €3,667 | €9,834 | +€6,168 | +168% |
| Remuneration and social security | 454/9 | €4,254 | €4,560 | +€305 | +7.2% |
| Other amounts payable | 47/48 | €82,068 | €583 | -€81,485 | -99.3% |
| Remuneration, social security and pensions | 62 | €60,081 | €62,042 | +€1,961 | +3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,395 | €7,920 | +€2,525 | +46.8% |
| Other operating charges | 640/8 | €3,547 | €4,131 | +€583 | +16.4% |
| Gross operating margin | 9900 | €68,378 | €101,582 | +€33,205 | +48.6% |
| Operating profit (loss) | 9901 | -€645 | €27,490 | +€28,135 | |
| Financial income | 75/76B | €0 | €110 | +€110 | |
| Recurring financial income | 75 | €0 | €110 | +€110 | |
| Financial charges | 65/66B | €314 | €245 | -€69 | -21.9% |
| Recurring financial charges | 65 | €314 | €245 | -€69 | -21.9% |
| Profit (loss) for the period before taxes | 9903 | -€959 | €27,355 | +€28,313 | |
| Income taxes | 67/77 | - | €6,371 | +€6,371 | |
| Profit (loss) for the period | 9904 | -€959 | €20,984 | +€21,942 | |
| Profit (loss) for the period to be appropriated | 9905 | -€959 | €20,984 | +€21,942 |
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 17 October 2026 via checked.be.