VGG SOLUTIONS: 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.
VGG SOLUTIONS
Largest movements
- Receivables within one year +€21,608
up €21,608 (+115.5%), from €18,710 to €40,317
- Tangible fixed assets -€5,285
no longer reported in 2025 (was €5,285)
- Cash +€2,400
up €2,400 (+4.1%), from €58,703 to €61,103
mainly Net result for the year (+€53,600) and Investment in fixed assets (net) (+€4,992)
- Intangible fixed assets -€1,500
down €1,500 (-13.6%), from €11,059 to €9,559
- Reserves +€13,600
up €13,600 (+12.9%), from €105,533 to €119,133
- Tax, wage and social debts +€2,414
up €2,414 (+35.1%), from €6,872 to €9,286
- Taxes -€2,918
down €2,918 (-14.6%), from €19,973 to €17,055
- Gross operating margin +€2,538
up €2,538 (+3.5%), from €71,953 to €74,491
- Depreciation -€2,460
down €2,460 (-57.8%), from €4,253 to €1,793
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 | €124,162 | €142,276 | +€18,114 | +14.6% |
| Fixed assets | 21/28 | €46,344 | €39,559 | -€6,785 | -14.6% |
| Intangible fixed assets | 21 | €11,059 | €9,559 | -€1,500 | -13.6% |
| Tangible fixed assets | 22/27 | €5,285 | - | -€5,285 | |
| Furniture and vehicles | 24 | €5,285 | - | -€5,285 | |
| Financial fixed assets | 28 | €30,000 | €30,000 | = | 0.0% |
| Current assets | 29/58 | €77,819 | €102,717 | +€24,899 | +32.0% |
| Amounts receivable within one year | 40/41 | €18,710 | €40,317 | +€21,608 | +115.5% |
| Trade receivables | 40 | €18,710 | €40,317 | +€21,608 | +115.5% |
| Cash at bank and in hand | 54/58 | €58,703 | €61,103 | +€2,400 | +4.1% |
| Deferred charges and accrued income | 490/1 | €406 | €1,298 | +€891 | +219.4% |
| Total equity and liabilities | 10/49 | €124,162 | €142,276 | +€18,114 | +14.6% |
| Equity | 10/15 | €113,033 | €126,633 | +€13,600 | +12.0% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €105,533 | €119,133 | +€13,600 | +12.9% |
| Distributable reserves | 133 | €105,533 | €119,133 | +€13,600 | +12.9% |
| Amounts payable | 17/49 | €11,130 | €15,643 | +€4,514 | +40.6% |
| Amounts payable within one year | 42/48 | €10,938 | €15,409 | +€4,470 | +40.9% |
| Financial debts | 43 | €529 | €804 | +€275 | +52.0% |
| Credit institutions | 430/8 | €529 | €804 | +€275 | +52.0% |
| Trade debts | 44 | €735 | €1,491 | +€756 | +102.8% |
| Suppliers | 440/4 | €735 | €1,491 | +€756 | +102.8% |
| Taxes, remuneration and social security | 45 | €6,872 | €9,286 | +€2,414 | +35.1% |
| Taxes | 450/3 | €6,872 | €9,286 | +€2,414 | +35.1% |
| Other amounts payable | 47/48 | €2,802 | €3,828 | +€1,026 | +36.6% |
| Accrued charges and deferred income | 492/3 | €191 | €235 | +€43 | +22.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,253 | €1,793 | -€2,460 | -57.8% |
| Other operating charges | 640/8 | €528 | €609 | +€81 | +15.3% |
| Non-recurring operating charges | 66A | - | €738 | +€738 | |
| Gross operating margin | 9900 | €71,953 | €74,491 | +€2,538 | +3.5% |
| Operating profit (loss) | 9901 | €67,172 | €71,351 | +€4,178 | +6.2% |
| Financial income | 75/76B | €0 | €2 | +€1 | +933.3% |
| Recurring financial income | 75 | €0 | €2 | +€1 | +933.3% |
| Financial charges | 65/66B | €460 | €697 | +€237 | +51.4% |
| Recurring financial charges | 65 | €460 | €697 | +€237 | +51.4% |
| Profit (loss) for the period before taxes | 9903 | €66,713 | €70,655 | +€3,943 | +5.9% |
| Income taxes | 67/77 | €19,973 | €17,055 | -€2,918 | -14.6% |
| Profit (loss) for the period | 9904 | €46,739 | €53,600 | +€6,861 | +14.7% |
| Profit (loss) for the period to be appropriated | 9905 | €46,739 | €53,600 | +€6,861 | +14.7% |
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.