VF.AC GROUP: 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.
VF.AC GROUP
Largest movements
- Tangible fixed assets +€34,443
up €34,443 (+21.0%), from €164,288 to €198,730
of which Furniture and vehicles: +€39,746
- Cash +€18,690
up €18,690 (+1,953%), from €957 to €19,647
mainly Net result for the year (+€39,035) and Other debts (+€34,862)
- Receivables within one year +€16,094
up €16,094 (+697%), from €2,309 to €18,403
of which Trade receivables: +€13,383
- Profit (loss) carried forward +€39,035
up €39,035 (+141%), from €27,719 to €66,754
- Other debts +€34,862
up €34,862 (+45.4%), from €76,824 to €111,686
- Trade debts -€9,563
down €9,563 (-37.3%), from €25,611 to €16,048
- Tax, wage and social debts +€4,891
up €4,891 (+15.1%), from €32,400 to €37,291
of which Taxes: +€6,691
- Gross operating margin +€47,765
up €47,765 (+279%), from €17,098 to €64,864
- Staff costs -€9,387
down €9,387 (-57.3%), from €16,373 to €6,986
- Taxes +€6,487
new in 2025: €6,487
- Depreciation +€5,544
up €5,544 (+103%), from €5,372 to €10,916
- Other operating charges +€1,280
new in 2025: €1,280
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.
Derived cash bridge
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 | €167,554 | €236,780 | +€69,226 | +41.3% |
| Fixed assets | 21/28 | €164,288 | €198,730 | +€34,443 | +21.0% |
| Tangible fixed assets | 22/27 | €164,288 | €198,730 | +€34,443 | +21.0% |
| Land and buildings | 22 | €163,510 | €158,207 | -€5,303 | -3.2% |
| Furniture and vehicles | 24 | €777 | €40,523 | +€39,746 | +5,112% |
| Current assets | 29/58 | €3,266 | €38,049 | +€34,783 | +1,065% |
| Amounts receivable within one year | 40/41 | €2,309 | €18,403 | +€16,094 | +697% |
| Trade receivables | 40 | - | €13,383 | +€13,383 | |
| Other amounts receivable | 41 | €2,309 | €5,020 | +€2,711 | +117% |
| Cash at bank and in hand | 54/58 | €957 | €19,647 | +€18,690 | +1,953% |
| Total equity and liabilities | 10/49 | €167,554 | €236,780 | +€69,226 | +41.3% |
| Equity | 10/15 | €32,719 | €71,754 | +€39,035 | +119% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €27,719 | €66,754 | +€39,035 | +141% |
| Amounts payable | 17/49 | €134,835 | €165,026 | +€30,191 | +22.4% |
| Amounts payable within one year | 42/48 | €134,835 | €165,026 | +€30,191 | +22.4% |
| Trade debts | 44 | €25,611 | €16,048 | -€9,563 | -37.3% |
| Suppliers | 440/4 | €25,611 | €16,048 | -€9,563 | -37.3% |
| Taxes, remuneration and social security | 45 | €32,400 | €37,291 | +€4,891 | +15.1% |
| Taxes | 450/3 | - | €6,691 | +€6,691 | |
| Remuneration and social security | 454/9 | €32,400 | €30,600 | -€1,800 | -5.6% |
| Other amounts payable | 47/48 | €76,824 | €111,686 | +€34,862 | +45.4% |
| Remuneration, social security and pensions | 62 | €16,373 | €6,986 | -€9,387 | -57.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,372 | €10,916 | +€5,544 | +103% |
| Other operating charges | 640/8 | - | €1,280 | +€1,280 | |
| Gross operating margin | 9900 | €17,098 | €64,864 | +€47,765 | +279% |
| Operating profit (loss) | 9901 | -€4,647 | €45,681 | +€50,329 | |
| Financial charges | 65/66B | €69 | €159 | +€90 | +130% |
| Recurring financial charges | 65 | €69 | €159 | +€90 | +130% |
| Profit (loss) for the period before taxes | 9903 | -€4,717 | €45,522 | +€50,239 | |
| Income taxes | 67/77 | - | €6,487 | +€6,487 | |
| Profit (loss) for the period | 9904 | -€4,717 | €39,035 | +€43,752 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,717 | €39,035 | +€43,752 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.