VCG RENOV: 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.
VCG RENOV
Largest movements
- Receivables within one year -€21,297
down €21,297 (-53.1%), from €40,127 to €18,830
of which Trade receivables: -€19,500
- Cash -€11,324
down €11,324 (-17.1%), from €66,359 to €55,036
mainly Trade debts (-€25,256) and Net result for the year (-€6,159)
- Trade debts -€25,256
down €25,256 (-96.5%), from €26,162 to €906
- Profit (loss) carried forward -€6,159
down €6,159 (-8.5%), from €72,418 to €66,260
- Tax, wage and social debts -€2,908
no longer reported in 2025 (was €2,908)
of which Remuneration and social security: -€1,708
- Debts after one year +€1,700
new in 2025: €1,700
- Gross operating margin -€15,248
down €15,248, from €10,424 to -€4,823
- Other operating charges -€1,776
no longer reported in 2025 (was €1,776)
- Staff costs +€705
no longer reported in 2025 (was -€705)
- Depreciation -€485
down €485 (-99.7%), from €487 to €2
- Taxes -€156
down €156 (-11.4%), from €1,371 to €1,214
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 | €106,488 | €73,866 | -€32,622 | -30.6% |
| Fixed assets | 21/28 | €2 | - | -€2 | |
| Tangible fixed assets | 22/27 | €2 | - | -€2 | |
| Furniture and vehicles | 24 | €2 | - | -€2 | |
| Current assets | 29/58 | €106,486 | €73,866 | -€32,621 | -30.6% |
| Amounts receivable within one year | 40/41 | €40,127 | €18,830 | -€21,297 | -53.1% |
| Trade receivables | 40 | €38,330 | €18,830 | -€19,500 | -50.9% |
| Other amounts receivable | 41 | €1,797 | - | -€1,797 | |
| Cash at bank and in hand | 54/58 | €66,359 | €55,036 | -€11,324 | -17.1% |
| Total equity and liabilities | 10/49 | €106,488 | €73,866 | -€32,622 | -30.6% |
| Equity | 10/15 | €77,418 | €71,260 | -€6,159 | -8.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €72,418 | €66,260 | -€6,159 | -8.5% |
| Amounts payable | 17/49 | €29,070 | €2,606 | -€26,464 | -91.0% |
| Amounts payable after more than one year | 17 | - | €1,700 | +€1,700 | |
| Other amounts payable | 178/9 | - | €1,700 | +€1,700 | |
| Amounts payable within one year | 42/48 | €29,070 | €906 | -€28,164 | -96.9% |
| Trade debts | 44 | €26,162 | €906 | -€25,256 | -96.5% |
| Suppliers | 440/4 | €26,162 | €906 | -€25,256 | -96.5% |
| Taxes, remuneration and social security | 45 | €2,908 | - | -€2,908 | |
| Taxes | 450/3 | €1,200 | - | -€1,200 | |
| Remuneration and social security | 454/9 | €1,708 | - | -€1,708 | |
| Remuneration, social security and pensions | 62 | -€705 | - | +€705 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €487 | €2 | -€485 | -99.7% |
| Other operating charges | 640/8 | €1,776 | - | -€1,776 | |
| Gross operating margin | 9900 | €10,424 | -€4,823 | -€15,248 | |
| Operating profit (loss) | 9901 | €8,867 | -€4,825 | -€13,692 | |
| Financial charges | 65/66B | €113 | €119 | +€6 | +5.5% |
| Recurring financial charges | 65 | €113 | €119 | +€6 | +5.5% |
| Profit (loss) for the period before taxes | 9903 | €8,754 | -€4,944 | -€13,698 | |
| Income taxes | 67/77 | €1,371 | €1,214 | -€156 | -11.4% |
| Profit (loss) for the period | 9904 | €7,383 | -€6,159 | -€13,542 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,383 | -€6,159 | -€13,542 |
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 30 October 2026 via checked.be.