VG-DESIGNS: 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.
VG-DESIGNS
Largest movements
- Receivables within one year -€18,272
down €18,272 (-90.0%), from €20,299 to €2,028
of which Trade receivables: -€14,317
- Deferred charges and accrued income +€17,499
up €17,499 (+998%), from €1,753 to €19,251
- Cash +€17,481
up €17,481 (+80.8%), from €21,638 to €39,118
mainly Receivables within one year (+€18,272) and Net result for the year (+€10,207)
- Tangible fixed assets -€2,610
down €2,610 (-19.3%), from €13,491 to €10,881
of which Furniture and vehicles: -€5,505
- Reserves +€10,207
up €10,207 (+25.4%), from €40,173 to €50,379
- Tax, wage and social debts +€5,586
up €5,586 (+219%), from €2,550 to €8,136
- Current portion of long-term debt +€4,776
up €4,776 (+221%), from €2,164 to €6,939
- Other debts -€4,072
down €4,072 (-94.5%), from €4,311 to €239
- Trade debts -€1,858
down €1,858 (-90.9%), from €2,044 to €186
- Gross operating margin +€16,474
up €16,474 (+324%), from €5,086 to €21,560
- Taxes +€3,634
up €3,634 (+1,074%), from €338 to €3,972
- Financial charges +€1,621
up €1,621 (+205%), from €792 to €2,413
- Other operating charges -€448
down €448 (-32.9%), from €1,359 to €912
- Depreciation +€322
up €322 (+8.1%), from €3,988 to €4,310
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 | €57,181 | €71,279 | +€14,098 | +24.7% |
| Fixed assets | 21/28 | €13,491 | €10,881 | -€2,610 | -19.3% |
| Tangible fixed assets | 22/27 | €13,491 | €10,881 | -€2,610 | -19.3% |
| Land and buildings | 22 | €1,830 | €1,502 | -€328 | -17.9% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €11,661 | €6,155 | -€5,505 | -47.2% |
| Other tangible fixed assets | 26 | - | €3,224 | +€3,224 | |
| Current assets | 29/58 | €43,690 | €60,397 | +€16,708 | +38.2% |
| Amounts receivable within one year | 40/41 | €20,299 | €2,028 | -€18,272 | -90.0% |
| Trade receivables | 40 | €14,317 | €0 | -€14,317 | -100% |
| Other amounts receivable | 41 | €5,983 | €2,028 | -€3,955 | -66.1% |
| Cash at bank and in hand | 54/58 | €21,638 | €39,118 | +€17,481 | +80.8% |
| Deferred charges and accrued income | 490/1 | €1,753 | €19,251 | +€17,499 | +998% |
| Total equity and liabilities | 10/49 | €57,181 | €71,279 | +€14,098 | +24.7% |
| Equity | 10/15 | €45,173 | €55,379 | +€10,207 | +22.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €40,173 | €50,379 | +€10,207 | +25.4% |
| Distributable reserves | 133 | €40,173 | €50,379 | +€10,207 | +25.4% |
| Amounts payable | 17/49 | €12,008 | €15,899 | +€3,891 | +32.4% |
| Amounts payable after more than one year | 17 | €939 | €0 | -€939 | -100% |
| Financial debts | 170/4 | €939 | €0 | -€939 | -100% |
| Amounts payable within one year | 42/48 | €11,069 | €15,500 | +€4,431 | +40.0% |
| Current portion of amounts payable after more than one year | 42 | €2,164 | €6,939 | +€4,776 | +221% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €2,044 | €186 | -€1,858 | -90.9% |
| Suppliers | 440/4 | €2,044 | €186 | -€1,858 | -90.9% |
| Taxes, remuneration and social security | 45 | €2,550 | €8,136 | +€5,586 | +219% |
| Taxes | 450/3 | €2,550 | €8,136 | +€5,586 | +219% |
| Other amounts payable | 47/48 | €4,311 | €239 | -€4,072 | -94.5% |
| Accrued charges and deferred income | 492/3 | €0 | €400 | +€400 | |
| Non-recurring operating income | 76A | €0 | €7,679 | +€7,679 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,988 | €4,310 | +€322 | +8.1% |
| Other operating charges | 640/8 | €1,359 | €912 | -€448 | -32.9% |
| Gross operating margin | 9900 | €5,086 | €21,560 | +€16,474 | +324% |
| Operating profit (loss) | 9901 | -€261 | €16,339 | +€16,600 | |
| Financial income | 75/76B | €0 | €253 | +€253 | |
| Recurring financial income | 75 | €0 | €253 | +€253 | |
| Financial charges | 65/66B | €792 | €2,413 | +€1,621 | +205% |
| Recurring financial charges | 65 | €792 | €2,413 | +€1,621 | +205% |
| Profit (loss) for the period before taxes | 9903 | -€1,053 | €14,179 | +€15,232 | |
| Income taxes | 67/77 | €338 | €3,972 | +€3,634 | +1,074% |
| Profit (loss) for the period | 9904 | -€1,392 | €10,207 | +€11,598 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,392 | €10,207 | +€11,598 |
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 15 October 2026 via checked.be.