VH Quality: 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.
VH Quality
Largest movements
- Cash +€20,087
up €20,087 (+47.6%), from €42,242 to €62,328
mainly Debts after one year (+€16,482) and Net result for the year (+€15,192)
- Tangible fixed assets +€17,009
up €17,009 (+38.0%), from €44,768 to €61,777
of which Furniture and vehicles: +€17,576
- Receivables within one year -€6,533
down €6,533 (-42.9%), from €15,231 to €8,698
- Debts after one year +€16,482
up €16,482 (+62.6%), from €26,321 to €42,804
- Profit (loss) carried forward +€15,192
up €15,192 (+75.2%), from €20,198 to €35,390
- Depreciation -€4,506
down €4,506 (-29.7%), from €15,149 to €10,643
- Gross operating margin -€4,451
down €4,451 (-10.3%), from €43,109 to €38,658
- Taxes -€1,776
down €1,776 (-27.9%), from €6,360 to €4,583
- Financial charges +€953
up €953 (+86.9%), from €1,097 to €2,050
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 | €102,989 | €133,086 | +€30,097 | +29.2% |
| Fixed assets | 21/28 | €44,768 | €61,777 | +€17,009 | +38.0% |
| Tangible fixed assets | 22/27 | €44,768 | €61,777 | +€17,009 | +38.0% |
| Plant, machinery and equipment | 23 | €1,948 | €1,381 | -€567 | -29.1% |
| Furniture and vehicles | 24 | €42,820 | €60,396 | +€17,576 | +41.0% |
| Current assets | 29/58 | €58,220 | €71,309 | +€13,088 | +22.5% |
| Amounts receivable within one year | 40/41 | €15,231 | €8,698 | -€6,533 | -42.9% |
| Trade receivables | 40 | €15,231 | €8,698 | -€6,533 | -42.9% |
| Cash at bank and in hand | 54/58 | €42,242 | €62,328 | +€20,087 | +47.6% |
| Deferred charges and accrued income | 490/1 | €748 | €282 | -€465 | -62.2% |
| Total equity and liabilities | 10/49 | €102,989 | €133,086 | +€30,097 | +29.2% |
| Equity | 10/15 | €42,199 | €57,390 | +€15,192 | +36.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €19,501 | €19,501 | = | 0.0% |
| Distributable reserves | 133 | €19,501 | €19,501 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,198 | €35,390 | +€15,192 | +75.2% |
| Amounts payable | 17/49 | €60,790 | €75,695 | +€14,905 | +24.5% |
| Amounts payable after more than one year | 17 | €26,321 | €42,804 | +€16,482 | +62.6% |
| Financial debts | 170/4 | €26,321 | €42,804 | +€16,482 | +62.6% |
| Amounts payable within one year | 42/48 | €33,912 | €32,638 | -€1,274 | -3.8% |
| Current portion of amounts payable after more than one year | 42 | €12,720 | €11,413 | -€1,307 | -10.3% |
| Trade debts | 44 | €3,709 | €3,779 | +€70 | +1.9% |
| Suppliers | 440/4 | €3,709 | €3,779 | +€70 | +1.9% |
| Taxes, remuneration and social security | 45 | €7,516 | €7,570 | +€54 | +0.7% |
| Taxes | 450/3 | €7,516 | €7,570 | +€54 | +0.7% |
| Other amounts payable | 47/48 | €9,968 | €9,876 | -€91 | -0.9% |
| Accrued charges and deferred income | 492/3 | €557 | €254 | -€303 | -54.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,149 | €10,643 | -€4,506 | -29.7% |
| Other operating charges | 640/8 | €306 | €372 | +€66 | +21.4% |
| Non-recurring operating charges | 66A | - | €5,818 | +€5,818 | |
| Gross operating margin | 9900 | €43,109 | €38,658 | -€4,451 | -10.3% |
| Operating profit (loss) | 9901 | €27,655 | €21,825 | -€5,830 | -21.1% |
| Financial charges | 65/66B | €1,097 | €2,050 | +€953 | +86.9% |
| Recurring financial charges | 65 | €1,097 | €2,050 | +€953 | +86.9% |
| Profit (loss) for the period before taxes | 9903 | €26,558 | €19,775 | -€6,783 | -25.5% |
| Income taxes | 67/77 | €6,360 | €4,583 | -€1,776 | -27.9% |
| Profit (loss) for the period | 9904 | €20,198 | €15,192 | -€5,006 | -24.8% |
| Profit (loss) for the period to be appropriated | 9905 | €20,198 | €15,192 | -€5,006 | -24.8% |
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 12 October 2026 via checked.be.