VCXA: 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.
VCXA
Largest movements
- Receivables within one year +€5,993
up €5,993 (+62.1%), from €9,653 to €15,647
of which Other amounts receivable: +€3,246
- Tangible fixed assets -€3,565
down €3,565 (-25.7%), from €13,896 to €10,331
of which Furniture and vehicles: -€3,565
- Deferred charges and accrued income +€1,313
up €1,313 (+121.4%), from €1,081 to €2,395
- Cash -€721
down €721 (-4.2%), from €17,259 to €16,538
mainly Contributions, distributions and other (-€40,200) and Receivables within one year (-€5,993)
- Reserves -€23,158
down €23,158 (-91.9%), from €25,200 to €2,042
- Other debts +€13,009
up €13,009 (+3558.2%), from €366 to €13,375
- Debts after one year +€10,241
up €10,241 (+285.1%), from €3,592 to €13,833
of which Other amounts payable: +€12,750
- Trade debts +€2,446
up €2,446 (+313.8%), from €780 to €3,226
- Tax, wage and social debts +€2,374
up €2,374 (+52.2%), from €4,551 to €6,925
- Gross operating margin -€4,910
down €4,910 (-14.4%), from €34,108 to €29,198
- Financial charges +€948
up €948 (+74.5%), from €1,272 to €2,219
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 | €41,889 | €44,910 | +€3,021 | +7.2% |
| Fixed assets | 21/28 | €13,896 | €10,331 | -€3,565 | -25.7% |
| Tangible fixed assets | 22/27 | €13,896 | €10,331 | -€3,565 | -25.7% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €13,896 | €10,331 | -€3,565 | -25.7% |
| Current assets | 29/58 | €27,993 | €34,579 | +€6,586 | +23.5% |
| Amounts receivable within one year | 40/41 | €9,653 | €15,647 | +€5,993 | +62.1% |
| Trade receivables | 40 | €9,653 | €12,401 | +€2,747 | +28.5% |
| Other amounts receivable | 41 | €0 | €3,246 | +€3,246 | |
| Cash at bank and in hand | 54/58 | €17,259 | €16,538 | -€721 | -4.2% |
| Deferred charges and accrued income | 490/1 | €1,081 | €2,395 | +€1,313 | +121.4% |
| Total equity and liabilities | 10/49 | €41,889 | €44,910 | +€3,021 | +7.2% |
| Equity | 10/15 | €28,200 | €5,042 | -€23,158 | -82.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €25,200 | €2,042 | -€23,158 | -91.9% |
| Distributable reserves | 133 | €25,200 | €2,042 | -€23,158 | -91.9% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €13,689 | €39,868 | +€26,179 | +191.2% |
| Amounts payable after more than one year | 17 | €3,592 | €13,833 | +€10,241 | +285.1% |
| Financial debts | 170/4 | €3,592 | €1,083 | -€2,509 | -69.8% |
| Other amounts payable | 178/9 | - | €12,750 | +€12,750 | |
| Amounts payable within one year | 42/48 | €10,097 | €26,035 | +€15,938 | +157.8% |
| Current portion of amounts payable after more than one year | 42 | €4,400 | €2,509 | -€1,891 | -43.0% |
| Trade debts | 44 | €780 | €3,226 | +€2,446 | +313.8% |
| Suppliers | 440/4 | €780 | €3,226 | +€2,446 | +313.8% |
| Taxes, remuneration and social security | 45 | €4,551 | €6,925 | +€2,374 | +52.2% |
| Taxes | 450/3 | €4,551 | €6,925 | +€2,374 | +52.2% |
| Other amounts payable | 47/48 | €366 | €13,375 | +€13,009 | +3558.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,388 | €4,198 | -€190 | -4.3% |
| Other operating charges | 640/8 | €736 | €520 | -€217 | -29.4% |
| Non-recurring operating charges | 66A | €7,457 | €503 | -€6,954 | -93.3% |
| Gross operating margin | 9900 | €34,108 | €29,198 | -€4,910 | -14.4% |
| Operating profit (loss) | 9901 | €21,527 | €23,977 | +€2,450 | +11.4% |
| Financial income | 75/76B | €42 | €55 | +€13 | +31.0% |
| Recurring financial income | 75 | €42 | €55 | +€13 | +31.0% |
| Financial charges | 65/66B | €1,272 | €2,219 | +€948 | +74.5% |
| Recurring financial charges | 65 | €1,272 | €2,219 | +€948 | +74.5% |
| Profit (loss) for the period before taxes | 9903 | €20,297 | €21,813 | +€1,516 | +7.5% |
| Income taxes | 67/77 | €4,798 | €4,771 | -€27 | -0.6% |
| Profit (loss) for the period | 9904 | €15,499 | €17,042 | +€1,543 | +10.0% |
| Profit (loss) for the period to be appropriated | 9905 | €15,499 | €17,042 | +€1,543 | +10.0% |
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.