VGF SERVICES: what changed
Two fiscal 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.
VGF SERVICES
Largest movements
- Cash +€15,952
up €15,952 (+75.5%), from €21,129 to €37,081
mainly Net result for the year (+€24,431) and Tax, wage and social debts (+€7,025)
- Tangible fixed assets +€7,110
up €7,110 (+107.8%), from €6,597 to €13,707
of which Other tangible fixed assets: +€8,500
- Deferred charges and accrued income +€3,653
up €3,653 (+439.1%), from €832 to €4,485
- Receivables within one year +€2,607
up €2,607 (+9.5%), from €27,535 to €30,142
of which Trade receivables: +€4,743
- Reserves +€24,431
up €24,431 (+398.0%), from €6,139 to €30,569
- Tax, wage and social debts +€7,025
up €7,025 (+231.0%), from €3,042 to €10,067
of which Remuneration and social security: +€4,371
- Other debts -€6,181
down €6,181 (-69.0%), from €8,962 to €2,781
- Trade debts +€3,592
up €3,592 (+10.8%), from €33,390 to €36,982
- Gross operating margin +€64,447
up €64,447 (+1144.8%), from €5,630 to €70,077
- Staff costs +€36,667
up €36,667 (+2811.1%), from €1,304 to €37,971
- Taxes +€4,441
up €4,441 (+368.9%), from €1,204 to €5,644
- Depreciation +€1,090
up €1,090 (+308.6%), from €353 to €1,443
- Financial income -€719
down €719 (-100.0%), from €719 to €0
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 | €56,559 | €85,414 | +€28,855 | +51.0% |
| Fixed assets | 21/28 | €6,597 | €13,707 | +€7,110 | +107.8% |
| Tangible fixed assets | 22/27 | €6,597 | €13,707 | +€7,110 | +107.8% |
| Furniture and vehicles | 24 | €6,597 | €5,207 | -€1,390 | -21.1% |
| Other tangible fixed assets | 26 | - | €8,500 | +€8,500 | |
| Current assets | 29/58 | €49,962 | €71,708 | +€21,745 | +43.5% |
| Stocks and contracts in progress | 3 | €467 | €0 | -€467 | -100.0% |
| Stocks | 30/36 | €467 | €0 | -€467 | -100.0% |
| Amounts receivable within one year | 40/41 | €27,535 | €30,142 | +€2,607 | +9.5% |
| Trade receivables | 40 | €20,234 | €24,977 | +€4,743 | +23.4% |
| Other amounts receivable | 41 | €7,301 | €5,164 | -€2,136 | -29.3% |
| Cash at bank and in hand | 54/58 | €21,129 | €37,081 | +€15,952 | +75.5% |
| Deferred charges and accrued income | 490/1 | €832 | €4,485 | +€3,653 | +439.1% |
| Total equity and liabilities | 10/49 | €56,559 | €85,414 | +€28,855 | +51.0% |
| Equity | 10/15 | €11,154 | €35,585 | +€24,431 | +219.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €6,139 | €30,569 | +€24,431 | +398.0% |
| Distributable reserves | 133 | €6,139 | €30,569 | +€24,431 | +398.0% |
| Profit (loss) carried forward | 14 | €15 | €15 | = | 0.0% |
| Amounts payable | 17/49 | €45,405 | €49,830 | +€4,425 | +9.7% |
| Amounts payable within one year | 42/48 | €45,394 | €49,830 | +€4,436 | +9.8% |
| Trade debts | 44 | €33,390 | €36,982 | +€3,592 | +10.8% |
| Suppliers | 440/4 | €33,390 | €36,982 | +€3,592 | +10.8% |
| Taxes, remuneration and social security | 45 | €3,042 | €10,067 | +€7,025 | +231.0% |
| Taxes | 450/3 | €2,990 | €5,644 | +€2,654 | +88.8% |
| Remuneration and social security | 454/9 | €52 | €4,423 | +€4,371 | +8460.0% |
| Other amounts payable | 47/48 | €8,962 | €2,781 | -€6,181 | -69.0% |
| Accrued charges and deferred income | 492/3 | €11 | €0 | -€11 | -100.0% |
| Turnover | 70 | €0 | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | €0 | = | |
| Remuneration, social security and pensions | 62 | €1,304 | €37,971 | +€36,667 | +2811.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €353 | €1,443 | +€1,090 | +308.6% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €5,630 | €70,077 | +€64,447 | +1144.8% |
| Operating profit (loss) | 9901 | €3,585 | €30,263 | +€26,678 | +744.2% |
| Financial income | 75/76B | €719 | €0 | -€719 | -100.0% |
| Recurring financial income | 75 | €719 | €0 | -€719 | -100.0% |
| Financial charges | 65/66B | €128 | €188 | +€61 | +47.4% |
| Recurring financial charges | 65 | €128 | €188 | +€61 | +47.4% |
| Profit (loss) for the period before taxes | 9903 | €4,176 | €30,075 | +€25,899 | +620.2% |
| Income taxes | 67/77 | €1,204 | €5,644 | +€4,441 | +368.9% |
| Profit (loss) for the period | 9904 | €2,972 | €24,431 | +€21,459 | +722.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,972 | €24,431 | +€21,459 | +722.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.