VG INVEST: 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 INVEST
Largest movements
- Tangible fixed assets -€11,733
down €11,733 (-10.7%), from €109,168 to €97,435
of which Furniture and vehicles: -€11,503
- Current investments +€6,623
up €6,623 (+9.4%), from €70,210 to €76,833
- Cash +€5,841
up €5,841 (+122%), from €4,786 to €10,627
mainly Other debts (+€50,923) and Depreciation (+€22,608)
- Deferred charges and accrued income +€2,520
up €2,520 (+99.4%), from €2,535 to €5,055
- Other debts +€50,923
up €50,923 (+8,733%), from €583 to €51,506
- Reserves -€34,717
down €34,717 (-29.2%), from €118,711 to €83,993
of which Distributable reserves: -€34,717
- Debts after one year -€6,154
down €6,154 (-41.7%), from €14,755 to €8,601
- Tax, wage and social debts -€5,749
down €5,749 (-24.2%), from €23,741 to €17,991
of which Taxes: -€5,749
- Gross operating margin +€4,310
up €4,310 (+9.6%), from €44,986 to €49,295
- Depreciation +€4,107
up €4,107 (+22.2%), from €18,501 to €22,608
- Taxes +€1,839
up €1,839 (+23.3%), from €7,904 to €9,742
- Financial income +€1,705
up €1,705 (+50.7%), from €3,361 to €5,066
- Other operating charges -€512
down €512 (-25.7%), from €1,993 to €1,480
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 | €240,690 | €242,970 | +€2,280 | +0.9% |
| Fixed assets | 21/28 | €109,168 | €97,435 | -€11,733 | -10.7% |
| Tangible fixed assets | 22/27 | €109,168 | €97,435 | -€11,733 | -10.7% |
| Furniture and vehicles | 24 | €107,615 | €96,112 | -€11,503 | -10.7% |
| Leasing and similar rights | 25 | €1,553 | €1,323 | -€230 | -14.8% |
| Current assets | 29/58 | €131,522 | €145,535 | +€14,013 | +10.7% |
| Amounts receivable within one year | 40/41 | €53,991 | €53,020 | -€971 | -1.8% |
| Trade receivables | 40 | €41,230 | €34,105 | -€7,125 | -17.3% |
| Other amounts receivable | 41 | €12,761 | €18,915 | +€6,154 | +48.2% |
| Current investments | 50/53 | €70,210 | €76,833 | +€6,623 | +9.4% |
| Cash at bank and in hand | 54/58 | €4,786 | €10,627 | +€5,841 | +122% |
| Deferred charges and accrued income | 490/1 | €2,535 | €5,055 | +€2,520 | +99.4% |
| Total equity and liabilities | 10/49 | €240,690 | €242,970 | +€2,280 | +0.9% |
| Equity | 10/15 | €180,711 | €145,993 | -€34,717 | -19.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €118,711 | €83,993 | -€34,717 | -29.2% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €112,511 | €77,793 | -€34,717 | -30.9% |
| Amounts payable | 17/49 | €59,979 | €96,977 | +€36,997 | +61.7% |
| Amounts payable after more than one year | 17 | €14,755 | €8,601 | -€6,154 | -41.7% |
| Financial debts | 170/4 | €14,755 | €8,601 | -€6,154 | -41.7% |
| Amounts payable within one year | 42/48 | €44,747 | €87,912 | +€43,166 | +96.5% |
| Current portion of amounts payable after more than one year | 42 | €5,910 | €6,154 | +€244 | +4.1% |
| Trade debts | 44 | €14,513 | €12,262 | -€2,251 | -15.5% |
| Suppliers | 440/4 | €14,513 | €12,262 | -€2,251 | -15.5% |
| Taxes, remuneration and social security | 45 | €23,741 | €17,991 | -€5,749 | -24.2% |
| Taxes | 450/3 | €21,381 | €15,631 | -€5,749 | -26.9% |
| Remuneration and social security | 454/9 | €2,360 | €2,360 | = | 0.0% |
| Other amounts payable | 47/48 | €583 | €51,506 | +€50,923 | +8,733% |
| Accrued charges and deferred income | 492/3 | €477 | €463 | -€15 | -3.0% |
| Non-recurring operating income | 76A | €370 | €1,240 | +€870 | +235% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,501 | €22,608 | +€4,107 | +22.2% |
| Other operating charges | 640/8 | €1,993 | €1,480 | -€512 | -25.7% |
| Non-recurring operating charges | 66A | €3,800 | - | -€3,800 | |
| Gross operating margin | 9900 | €44,986 | €49,295 | +€4,310 | +9.6% |
| Operating profit (loss) | 9901 | €20,691 | €25,207 | +€4,516 | +21.8% |
| Financial income | 75/76B | €3,361 | €5,066 | +€1,705 | +50.7% |
| Recurring financial income | 75 | €3,361 | €5,066 | +€1,705 | +50.7% |
| Financial charges | 65/66B | €1,732 | €1,458 | -€274 | -15.8% |
| Recurring financial charges | 65 | €1,732 | €1,458 | -€274 | -15.8% |
| Profit (loss) for the period before taxes | 9903 | €22,320 | €28,815 | +€6,494 | +29.1% |
| Income taxes | 67/77 | €7,904 | €9,742 | +€1,839 | +23.3% |
| Profit (loss) for the period | 9904 | €14,417 | €19,072 | +€4,656 | +32.3% |
| Profit (loss) for the period to be appropriated | 9905 | €14,417 | €19,072 | +€4,656 | +32.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.