Vcoptic: 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.
Vcoptic
Largest movements
- Tangible fixed assets +€128,636
up €128,636 (+137.5%), from €93,526 to €222,163
of which Land and buildings: +€152,936
- Cash +€38,708
up €38,708 (+31.8%), from €121,756 to €160,464
mainly Debts after one year (+€119,129) and Other debts (+€111,151)
- Stocks and contracts +€26,404
up €26,404 (+37.2%), from €70,898 to €97,302
- Receivables within one year -€4,863
down €4,863 (-82.7%), from €5,881 to €1,018
of which Trade receivables: -€2,435
- Profit (loss) carried forward -€161,180
down €161,180 (-100.0%), from €161,180 to €0
- Debts after one year +€119,129
up €119,129 (+342.8%), from €34,755 to €153,884
- Other debts +€111,151
up €111,151 (+398.8%), from €27,870 to €139,021
- Reserves +€65,754
new in 2025: €65,754
- Tax, wage and social debts +€51,295
up €51,295 (+505.4%), from €10,150 to €61,445
of which Taxes: +€49,554
- Depreciation +€36,196
up €36,196 (+234.3%), from €15,446 to €51,642
- Gross operating margin +€29,706
up €29,706 (+22.3%), from €133,239 to €162,945
- Staff costs +€10,165
up €10,165 (+320.4%), from €3,173 to €13,338
- Taxes -€9,674
down €9,674 (-28.8%), from €33,572 to €23,897
- Financial charges +€4,979
up €4,979 (+156.2%), from €3,188 to €8,168
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 | €293,901 | €485,437 | +€191,536 | +65.2% |
| Fixed assets | 21/28 | €94,126 | €222,462 | +€128,336 | +136.3% |
| Intangible fixed assets | 21 | €600 | €300 | -€300 | -50.0% |
| Tangible fixed assets | 22/27 | €93,526 | €222,163 | +€128,636 | +137.5% |
| Land and buildings | 22 | - | €152,936 | +€152,936 | |
| Plant, machinery and equipment | 23 | €51,202 | €36,815 | -€14,386 | -28.1% |
| Furniture and vehicles | 24 | €39,156 | €30,385 | -€8,771 | -22.4% |
| Other tangible fixed assets | 26 | €3,168 | €2,025 | -€1,143 | -36.1% |
| Current assets | 29/58 | €199,775 | €262,975 | +€63,200 | +31.6% |
| Stocks and contracts in progress | 3 | €70,898 | €97,302 | +€26,404 | +37.2% |
| Stocks | 30/36 | €70,898 | €97,302 | +€26,404 | +37.2% |
| Amounts receivable within one year | 40/41 | €5,881 | €1,018 | -€4,863 | -82.7% |
| Trade receivables | 40 | €3,452 | €1,018 | -€2,435 | -70.5% |
| Other amounts receivable | 41 | €2,428 | €0 | -€2,428 | -100.0% |
| Cash at bank and in hand | 54/58 | €121,756 | €160,464 | +€38,708 | +31.8% |
| Deferred charges and accrued income | 490/1 | €1,241 | €4,192 | +€2,951 | +237.8% |
| Total equity and liabilities | 10/49 | €293,901 | €485,437 | +€191,536 | +65.2% |
| Equity | 10/15 | €166,180 | €70,754 | -€95,426 | -57.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | - | €65,754 | +€65,754 | |
| Distributable reserves | 133 | - | €65,754 | +€65,754 | |
| Profit (loss) carried forward | 14 | €161,180 | €0 | -€161,180 | -100.0% |
| Amounts payable | 17/49 | €127,721 | €414,683 | +€286,962 | +224.7% |
| Amounts payable after more than one year | 17 | €34,755 | €153,884 | +€119,129 | +342.8% |
| Financial debts | 170/4 | €34,755 | €153,884 | +€119,129 | +342.8% |
| Amounts payable within one year | 42/48 | €92,966 | €260,399 | +€167,433 | +180.1% |
| Current portion of amounts payable after more than one year | 42 | €12,874 | €19,621 | +€6,747 | +52.4% |
| Trade debts | 44 | €42,072 | €40,313 | -€1,759 | -4.2% |
| Suppliers | 440/4 | €42,072 | €40,313 | -€1,759 | -4.2% |
| Taxes, remuneration and social security | 45 | €10,150 | €61,445 | +€51,295 | +505.4% |
| Taxes | 450/3 | €6,365 | €55,919 | +€49,554 | +778.5% |
| Remuneration and social security | 454/9 | €3,785 | €5,526 | +€1,741 | +46.0% |
| Other amounts payable | 47/48 | €27,870 | €139,021 | +€111,151 | +398.8% |
| Accrued charges and deferred income | 492/3 | - | €400 | +€400 | |
| Remuneration, social security and pensions | 62 | €3,173 | €13,338 | +€10,165 | +320.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,446 | €51,642 | +€36,196 | +234.3% |
| Other operating charges | 640/8 | €1,795 | €2,404 | +€608 | +33.9% |
| Gross operating margin | 9900 | €133,239 | €162,945 | +€29,706 | +22.3% |
| Operating profit (loss) | 9901 | €112,826 | €95,562 | -€17,264 | -15.3% |
| Financial income | 75/76B | €2,284 | €2,258 | -€27 | -1.2% |
| Recurring financial income | 75 | €2,284 | €2,258 | -€27 | -1.2% |
| Financial charges | 65/66B | €3,188 | €8,168 | +€4,979 | +156.2% |
| Recurring financial charges | 65 | €3,188 | €8,168 | +€4,979 | +156.2% |
| Profit (loss) for the period before taxes | 9903 | €111,922 | €89,651 | -€22,270 | -19.9% |
| Income taxes | 67/77 | €33,572 | €23,897 | -€9,674 | -28.8% |
| Profit (loss) for the period | 9904 | €78,350 | €65,754 | -€12,596 | -16.1% |
| Profit (loss) for the period to be appropriated | 9905 | €78,350 | €65,754 | -€12,596 | -16.1% |
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 2 October 2026 via checked.be.