VCV GROUP: 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.
VCV GROUP
Largest movements
- Cash +€49,048
up €49,048 (+91.4%), from €53,642 to €102,690
mainly Net result for the year (+€75,578) and Other debts (+€19,722)
- Tangible fixed assets +€14,782
up €14,782 (+224.6%), from €6,581 to €21,363
of which Plant, machinery and equipment: +€7,547
- Receivables within one year -€8,778
down €8,778 (-30.9%), from €28,389 to €19,611
of which Trade receivables: -€9,409
- Deferred charges and accrued income +€8,613
up €8,613 (+303.4%), from €2,839 to €11,452
- Profit (loss) carried forward +€57,258
up €57,258, from -€57,258 to €0
- Trade debts -€21,088
down €21,088 (-80.3%), from €26,256 to €5,168
- Other debts +€19,722
up €19,722 (+112.7%), from €17,504 to €37,226
- Tax, wage and social debts +€7,438
new in 2025: €7,438
of which Taxes: +€5,865
- Gross operating margin +€128,305
up €128,305, from -€35,814 to €92,491
- Taxes +€4,475
up €4,475, from €0 to €4,475
- Financial charges +€2,635
up €2,635 (+186.9%), from €1,410 to €4,045
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 | €91,452 | €155,116 | +€63,665 | +69.6% |
| Fixed assets | 21/28 | €6,581 | €21,363 | +€14,782 | +224.6% |
| Tangible fixed assets | 22/27 | €6,581 | €21,363 | +€14,782 | +224.6% |
| Plant, machinery and equipment | 23 | €576 | €8,122 | +€7,547 | +1310.9% |
| Furniture and vehicles | 24 | €6,005 | €13,240 | +€7,235 | +120.5% |
| Current assets | 29/58 | €84,870 | €133,753 | +€48,883 | +57.6% |
| Amounts receivable within one year | 40/41 | €28,389 | €19,611 | -€8,778 | -30.9% |
| Trade receivables | 40 | €27,593 | €18,184 | -€9,409 | -34.1% |
| Other amounts receivable | 41 | €796 | €1,427 | +€631 | +79.2% |
| Cash at bank and in hand | 54/58 | €53,642 | €102,690 | +€49,048 | +91.4% |
| Deferred charges and accrued income | 490/1 | €2,839 | €11,452 | +€8,613 | +303.4% |
| Total equity and liabilities | 10/49 | €91,452 | €155,116 | +€63,665 | +69.6% |
| Equity | 10/15 | €47,692 | €104,951 | +€57,258 | +120.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €86,351 | €86,351 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €3,651 | €3,651 | = | 0.0% |
| Distributable reserves | 133 | €82,700 | €82,700 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€57,258 | €0 | +€57,258 | |
| Amounts payable | 17/49 | €43,759 | €50,165 | +€6,406 | +14.6% |
| Amounts payable within one year | 42/48 | €43,759 | €50,165 | +€6,406 | +14.6% |
| Financial debts | 43 | - | €334 | +€334 | |
| Credit institutions | 430/8 | - | €334 | +€334 | |
| Trade debts | 44 | €26,256 | €5,168 | -€21,088 | -80.3% |
| Suppliers | 440/4 | €26,256 | €5,168 | -€21,088 | -80.3% |
| Taxes, remuneration and social security | 45 | - | €7,438 | +€7,438 | |
| Taxes | 450/3 | - | €5,865 | +€5,865 | |
| Remuneration and social security | 454/9 | - | €1,573 | +€1,573 | |
| Other amounts payable | 47/48 | €17,504 | €37,226 | +€19,722 | +112.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,716 | €4,655 | -€61 | -1.3% |
| Other operating charges | 640/8 | €512 | €863 | +€351 | +68.4% |
| Non-recurring operating charges | 66A | €0 | €2,875 | +€2,875 | |
| Gross operating margin | 9900 | -€35,814 | €92,491 | +€128,305 | |
| Operating profit (loss) | 9901 | -€41,042 | €84,099 | +€125,141 | |
| Financial charges | 65/66B | €1,410 | €4,045 | +€2,635 | +186.9% |
| Recurring financial charges | 65 | €1,410 | €4,045 | +€2,635 | +186.9% |
| Profit (loss) for the period before taxes | 9903 | -€42,452 | €80,053 | +€122,505 | |
| Income taxes | 67/77 | €0 | €4,475 | +€4,475 | |
| Profit (loss) for the period | 9904 | -€42,452 | €75,578 | +€118,031 | |
| Profit (loss) for the period to be appropriated | 9905 | -€42,452 | €75,578 | +€118,031 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.