VCS Trading: 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.
VCS Trading
Largest movements
- Cash +€108,043
up €108,043 (+226.3%), from €47,736 to €155,779
mainly Tax, wage and social debts (+€133,609) and Receivables within one year (+€32,727)
- Receivables within one year -€32,727
down €32,727 (-27.8%), from €117,554 to €84,827
of which Other amounts receivable: -€78,408
- Deferred charges and accrued income +€15,554
new in 2025: €15,554
- Tax, wage and social debts +€133,609
new in 2025: €133,609
- Other debts -€55,374
no longer reported in 2025 (was €55,374)
- Profit (loss) carried forward +€12,636
up €12,636 (+12.6%), from €99,916 to €112,551
- Gross operating margin -€17,258
down €17,258 (-41.8%), from €41,307 to €24,049
- Financial charges -€3,876
down €3,876 (-51.0%), from €7,605 to €3,729
- Taxes +€874
up €874 (+13.9%), from €6,297 to €7,171
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 | €165,290 | €256,160 | +€90,870 | +55.0% |
| Formation expenses | 20 | €0 | €0 | = | |
| Current assets | 29/58 | €165,290 | €256,160 | +€90,870 | +55.0% |
| Amounts receivable within one year | 40/41 | €117,554 | €84,827 | -€32,727 | -27.8% |
| Trade receivables | 40 | €39,146 | €84,827 | +€45,681 | +116.7% |
| Other amounts receivable | 41 | €78,408 | - | -€78,408 | |
| Cash at bank and in hand | 54/58 | €47,736 | €155,779 | +€108,043 | +226.3% |
| Deferred charges and accrued income | 490/1 | - | €15,554 | +€15,554 | |
| Total equity and liabilities | 10/49 | €165,290 | €256,160 | +€90,870 | +55.0% |
| Equity | 10/15 | €109,916 | €122,551 | +€12,636 | +11.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €99,916 | €112,551 | +€12,636 | +12.6% |
| Amounts payable | 17/49 | €55,374 | €133,609 | +€78,235 | +141.3% |
| Amounts payable within one year | 42/48 | €55,374 | €133,609 | +€78,235 | +141.3% |
| Trade debts | 44 | €0 | €0 | = | |
| Suppliers | 440/4 | €0 | €0 | = | |
| Taxes, remuneration and social security | 45 | - | €133,609 | +€133,609 | |
| Taxes | 450/3 | - | €133,609 | +€133,609 | |
| Other amounts payable | 47/48 | €55,374 | - | -€55,374 | |
| Other operating charges | 640/8 | €115 | €513 | +€398 | +346.4% |
| Gross operating margin | 9900 | €41,307 | €24,049 | -€17,258 | -41.8% |
| Operating profit (loss) | 9901 | €41,192 | €23,536 | -€17,656 | -42.9% |
| Financial charges | 65/66B | €7,605 | €3,729 | -€3,876 | -51.0% |
| Recurring financial charges | 65 | €7,605 | €3,729 | -€3,876 | -51.0% |
| Profit (loss) for the period before taxes | 9903 | €33,587 | €19,807 | -€13,780 | -41.0% |
| Income taxes | 67/77 | €6,297 | €7,171 | +€874 | +13.9% |
| Profit (loss) for the period | 9904 | €27,290 | €12,636 | -€14,654 | -53.7% |
| Profit (loss) for the period to be appropriated | 9905 | €27,290 | €12,636 | -€14,654 | -53.7% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.