VGESTION: 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.
VGESTION
Largest movements
- Tangible fixed assets -€11,191
down €11,191 (-11.8%), from €94,712 to €83,521
of which Furniture and vehicles: -€6,367
- Cash +€9,663
up €9,663 (+243.2%), from €3,973 to €13,635
mainly Depreciation (+€23,085) and Trade debts (+€7,719)
- Intangible fixed assets -€9,520
down €9,520 (-20.0%), from €47,602 to €38,082
- Debts after one year -€13,465
down €13,465 (-13.5%), from €99,503 to €86,038
- Trade debts +€7,719
up €7,719 (+63.6%), from €12,132 to €19,852
- Tax, wage and social debts -€3,513
down €3,513 (-13.5%), from €26,060 to €22,548
of which Taxes: -€3,225
- Other debts -€1,785
down €1,785 (-59.3%), from €3,013 to €1,228
- Gross operating margin +€6,536
up €6,536 (+19.3%), from €33,806 to €40,343
- Taxes +€1,644
up €1,644 (+54.5%), from €3,015 to €4,659
- Depreciation -€787
down €787 (-3.3%), from €23,871 to €23,085
- Write-downs +€726
new in 2025: €726
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 | €167,865 | €158,475 | -€9,390 | -5.6% |
| Fixed assets | 21/28 | €142,445 | €121,733 | -€20,712 | -14.5% |
| Intangible fixed assets | 21 | €47,602 | €38,082 | -€9,520 | -20.0% |
| Tangible fixed assets | 22/27 | €94,712 | €83,521 | -€11,191 | -11.8% |
| Land and buildings | 22 | €80,104 | €76,289 | -€3,815 | -4.8% |
| Furniture and vehicles | 24 | €6,367 | - | -€6,367 | |
| Other tangible fixed assets | 26 | €8,241 | €7,232 | -€1,009 | -12.2% |
| Financial fixed assets | 28 | €131 | €131 | = | 0.0% |
| Current assets | 29/58 | €25,420 | €36,741 | +€11,321 | +44.5% |
| Amounts receivable within one year | 40/41 | €21,448 | €23,106 | +€1,658 | +7.7% |
| Trade receivables | 40 | €21,370 | €22,998 | +€1,627 | +7.6% |
| Other amounts receivable | 41 | €77 | €108 | +€31 | +40.5% |
| Cash at bank and in hand | 54/58 | €3,973 | €13,635 | +€9,663 | +243.2% |
| Total equity and liabilities | 10/49 | €167,865 | €158,475 | -€9,390 | -5.6% |
| Equity | 10/15 | €14,014 | €15,345 | +€1,331 | +9.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,014 | €10,345 | +€1,331 | +14.8% |
| Amounts payable | 17/49 | €153,851 | €143,130 | -€10,721 | -7.0% |
| Amounts payable after more than one year | 17 | €99,503 | €86,038 | -€13,465 | -13.5% |
| Financial debts | 170/4 | €99,503 | €86,038 | -€13,465 | -13.5% |
| Amounts payable within one year | 42/48 | €54,348 | €57,091 | +€2,743 | +5.0% |
| Current portion of amounts payable after more than one year | 42 | €13,143 | €13,465 | +€322 | +2.4% |
| Trade debts | 44 | €12,132 | €19,852 | +€7,719 | +63.6% |
| Suppliers | 440/4 | €12,132 | €19,852 | +€7,719 | +63.6% |
| Taxes, remuneration and social security | 45 | €26,060 | €22,548 | -€3,513 | -13.5% |
| Taxes | 450/3 | €23,272 | €20,048 | -€3,225 | -13.9% |
| Remuneration and social security | 454/9 | €2,788 | €2,500 | -€288 | -10.3% |
| Other amounts payable | 47/48 | €3,013 | €1,228 | -€1,785 | -59.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,871 | €23,085 | -€787 | -3.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €726 | +€726 | |
| Other operating charges | 640/8 | €2,504 | €2,652 | +€148 | +5.9% |
| Gross operating margin | 9900 | €33,806 | €40,343 | +€6,536 | +19.3% |
| Operating profit (loss) | 9901 | €7,431 | €13,880 | +€6,449 | +86.8% |
| Financial income | 75/76B | €0 | €31 | +€30 | +7183.3% |
| Recurring financial income | 75 | €0 | €31 | +€30 | +7183.3% |
| Financial charges | 65/66B | €4,155 | €3,921 | -€234 | -5.6% |
| Recurring financial charges | 65 | €4,155 | €3,921 | -€234 | -5.6% |
| Profit (loss) for the period before taxes | 9903 | €3,277 | €9,990 | +€6,713 | +204.9% |
| Income taxes | 67/77 | €3,015 | €4,659 | +€1,644 | +54.5% |
| Profit (loss) for the period | 9904 | €262 | €5,331 | +€5,069 | +1937.8% |
| Profit (loss) for the period to be appropriated | 9905 | €262 | €5,331 | +€5,069 | +1937.8% |
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 12 October 2026 via checked.be.