VCS-FISC: what changed
What changed
VCS-FISC
NACE 69.201, Certified accountants and tax accountants
filed annual accounts (NBB)
Net result for the year
€375,597
2025 · €280,169+€95,428
Equity
€755,153
2025 · €899,556-€144,403
Cash
€139,491
2025 · €323,268-€183,777
Balance sheet total
€1.6m
2025 · €1.6m-€11,205
Largest movements
Assets
- Current investments +€250,000
up €250,000 (+37.0%), from €675,000 to €925,000
- Cash -€183,777
down €183,777 (-56.8%), from €323,268 to €139,491
mainly Contributions, distributions and other (-€520,000) and Current investments (-€250,000)
- Tangible fixed assets -€63,212
down €63,212 (-12.7%), from €498,223 to €435,011
Equity and liabilities
- Reserves -€160,000
down €160,000 (-18.3%), from €875,250 to €715,250
of which Distributable reserves: -€160,000
- Other debts +€109,010
up €109,010 (+17.2%), from €633,922 to €742,932
- Trade debts +€31,270
up €31,270 (+630%), from €4,965 to €36,235
Income statement
- Gross operating margin +€116,293
up €116,293 (+20.0%), from €582,186 to €698,479
- Staff costs +€27,869
up €27,869 (+17.2%), from €161,740 to €189,609
- Taxes -€9,105
down €9,105 (-14.4%), from €63,240 to €54,135
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2025
€280,169
Gross operating margin
+€116,293
Staff costs
-€27,869
Depreciation
-€579
Write-downs
-€2,462
Other operating charges
-€188
Financial income
-€3,464
Financial charges
+€4,592
Taxes
+€9,105
Result 2026
€375,597
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€591,640
Investment
-€255,417
Financing
-€520,000
Cash 2025
€323,268
From operations (derived)
+€591,640
Net result for the year
+€375,597
Depreciation
+€68,629
Receivables within one year
+€15,089
Deferred charges and accrued income
-€873
Trade debts
+€31,270
Tax, wage and social debts
-€11,042
Other debts
+€109,010
Accrued charges and deferred income
+€3,960
Investment (derived)
-€255,417
Investment in fixed assets (net)
-€5,417
Current investments
-€250,000
Financing
-€520,000
Contributions, distributions and other
-€520,000
Cash 2026
€139,491
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,597,028 | €1,585,823 | -€11,205 | -0.7% |
| Fixed assets | 21/28 | €498,223 | €435,011 | -€63,212 | -12.7% |
| Tangible fixed assets | 22/27 | €498,223 | €435,011 | -€63,212 | -12.7% |
| Land and buildings | 22 | €189,191 | €177,360 | -€11,831 | -6.3% |
| Plant, machinery and equipment | 23 | €194,507 | €163,751 | -€30,756 | -15.8% |
| Furniture and vehicles | 24 | €114,525 | €93,900 | -€20,625 | -18.0% |
| Current assets | 29/58 | €1,098,805 | €1,150,812 | +€52,007 | +4.7% |
| Amounts receivable within one year | 40/41 | €89,037 | €73,948 | -€15,089 | -16.9% |
| Trade receivables | 40 | €87,147 | €71,338 | -€15,809 | -18.1% |
| Other amounts receivable | 41 | €1,890 | €2,610 | +€720 | +38.1% |
| Current investments | 50/53 | €675,000 | €925,000 | +€250,000 | +37.0% |
| Cash at bank and in hand | 54/58 | €323,268 | €139,491 | -€183,777 | -56.8% |
| Deferred charges and accrued income | 490/1 | €11,500 | €12,373 | +€873 | +7.6% |
| Total equity and liabilities | 10/49 | €1,597,028 | €1,585,823 | -€11,205 | -0.7% |
| Equity | 10/15 | €899,556 | €755,153 | -€144,403 | -16.1% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €875,250 | €715,250 | -€160,000 | -18.3% |
| Tax-exempt reserves | 132 | €105,250 | €105,250 | = | 0.0% |
| Distributable reserves | 133 | €770,000 | €610,000 | -€160,000 | -20.8% |
| Profit (loss) carried forward | 14 | €3,846 | €19,443 | +€15,597 | +406% |
| Amounts payable | 17/49 | €697,472 | €830,670 | +€133,198 | +19.1% |
| Amounts payable within one year | 42/48 | €667,782 | €797,020 | +€129,238 | +19.4% |
| Trade debts | 44 | €4,965 | €36,235 | +€31,270 | +630% |
| Suppliers | 440/4 | €4,965 | €36,235 | +€31,270 | +630% |
| Taxes, remuneration and social security | 45 | €28,895 | €17,853 | -€11,042 | -38.2% |
| Taxes | 450/3 | €11,310 | - | -€11,310 | |
| Remuneration and social security | 454/9 | €17,585 | €17,853 | +€268 | +1.5% |
| Other amounts payable | 47/48 | €633,922 | €742,932 | +€109,010 | +17.2% |
| Accrued charges and deferred income | 492/3 | €29,690 | €33,650 | +€3,960 | +13.3% |
| Remuneration, social security and pensions | 62 | €161,740 | €189,609 | +€27,869 | +17.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,050 | €68,629 | +€579 | +0.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€2,462 | - | +€2,462 | |
| Other operating charges | 640/8 | €3,015 | €3,203 | +€188 | +6.2% |
| Gross operating margin | 9900 | €582,186 | €698,479 | +€116,293 | +20.0% |
| Operating profit (loss) | 9901 | €351,843 | €437,038 | +€85,195 | +24.2% |
| Financial income | 75/76B | €20,864 | €17,400 | -€3,464 | -16.6% |
| Recurring financial income | 75 | €20,864 | €17,400 | -€3,464 | -16.6% |
| Financial charges | 65/66B | €29,298 | €24,706 | -€4,592 | -15.7% |
| Recurring financial charges | 65 | €29,298 | €24,706 | -€4,592 | -15.7% |
| Profit (loss) for the period before taxes | 9903 | €343,409 | €429,732 | +€86,323 | +25.1% |
| Income taxes | 67/77 | €63,240 | €54,135 | -€9,105 | -14.4% |
| Profit (loss) for the period | 9904 | €280,169 | €375,597 | +€95,428 | +34.1% |
| Profit (loss) for the period to be appropriated | 9905 | €280,169 | €375,597 | +€95,428 | +34.1% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.