VFT Global: 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.
VFT Global
Largest movements
- Receivables within one year +€9,743
up €9,743 (+5.1%), from €190,906 to €200,649
of which Trade receivables: +€14,395
- Cash +€7,195
up €7,195 (+87.3%), from €8,240 to €15,435
mainly Net result for the year (+€35,648) and Tax, wage and social debts (+€13,652)
- Trade debts -€37,770
down €37,770 (-79.8%), from €47,306 to €9,536
- Profit (loss) carried forward +€35,648
up €35,648 (+65.7%), from €54,262 to €89,910
- Tax, wage and social debts +€13,652
up €13,652 (+44.5%), from €30,672 to €44,324
of which Taxes: +€17,904
- Other debts +€6,501
new in 2025: €6,501
- Other operating charges -€84,267
down €84,267 (-98.1%), from €85,930 to €1,664
- Gross operating margin -€66,447
down €66,447 (-36.8%), from €180,371 to €113,925
- Staff costs +€39,903
up €39,903 (+150%), from €26,540 to €66,443
- Taxes -€4,629
down €4,629 (-34.0%), from €13,605 to €8,977
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 | €199,146 | €217,177 | +€18,031 | +9.1% |
| Fixed assets | 21/28 | - | €1,093 | +€1,093 | |
| Tangible fixed assets | 22/27 | - | €1,093 | +€1,093 | |
| Furniture and vehicles | 24 | - | €1,093 | +€1,093 | |
| Current assets | 29/58 | €199,146 | €216,084 | +€16,937 | +8.5% |
| Amounts receivable within one year | 40/41 | €190,906 | €200,649 | +€9,743 | +5.1% |
| Trade receivables | 40 | €186,254 | €200,649 | +€14,395 | +7.7% |
| Other amounts receivable | 41 | €4,652 | €0 | -€4,652 | -100% |
| Cash at bank and in hand | 54/58 | €8,240 | €15,435 | +€7,195 | +87.3% |
| Total equity and liabilities | 10/49 | €199,146 | €217,177 | +€18,031 | +9.1% |
| Equity | 10/15 | €54,382 | €90,030 | +€35,648 | +65.6% |
| Contributions | 10/11 | €120 | €120 | = | 0.0% |
| Profit (loss) carried forward | 14 | €54,262 | €89,910 | +€35,648 | +65.7% |
| Amounts payable | 17/49 | €144,764 | €127,147 | -€17,617 | -12.2% |
| Amounts payable within one year | 42/48 | €144,764 | €127,147 | -€17,617 | -12.2% |
| Trade debts | 44 | €47,306 | €9,536 | -€37,770 | -79.8% |
| Suppliers | 440/4 | €47,306 | €9,536 | -€37,770 | -79.8% |
| Advances received on contracts in progress | 46 | €66,786 | €66,786 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €30,672 | €44,324 | +€13,652 | +44.5% |
| Taxes | 450/3 | €15,902 | €33,805 | +€17,904 | +113% |
| Remuneration and social security | 454/9 | €14,771 | €10,519 | -€4,252 | -28.8% |
| Other amounts payable | 47/48 | - | €6,501 | +€6,501 | |
| Remuneration, social security and pensions | 62 | €26,540 | €66,443 | +€39,903 | +150% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €122 | +€122 | |
| Other operating charges | 640/8 | €85,930 | €1,664 | -€84,267 | -98.1% |
| Gross operating margin | 9900 | €180,371 | €113,925 | -€66,447 | -36.8% |
| Operating profit (loss) | 9901 | €67,901 | €45,696 | -€22,205 | -32.7% |
| Financial income | 75/76B | - | €4 | +€4 | |
| Recurring financial income | 75 | - | €4 | +€4 | |
| Financial charges | 65/66B | €34 | €1,076 | +€1,042 | +3,101% |
| Recurring financial charges | 65 | €34 | €1,076 | +€1,042 | +3,101% |
| Profit (loss) for the period before taxes | 9903 | €67,868 | €44,624 | -€23,243 | -34.2% |
| Income taxes | 67/77 | €13,605 | €8,977 | -€4,629 | -34.0% |
| Profit (loss) for the period | 9904 | €54,262 | €35,648 | -€18,615 | -34.3% |
| Profit (loss) for the period to be appropriated | 9905 | €54,262 | €35,648 | -€18,615 | -34.3% |
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 19 October 2026 via checked.be.