VHTACS: 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.
VHTACS
Largest movements
- Cash +€34,862
up €34,862 (+101.4%), from €34,368 to €69,230
mainly Net result for the year (+€27,333) and Receivables after one year (+€23,030)
- Receivables after one year -€23,030
down €23,030 (-100.0%), from €23,030 to €0
- Receivables within one year -€9,735
down €9,735 (-32.3%), from €30,143 to €20,408
of which Other amounts receivable: -€11,032
- Deferred charges and accrued income -€3,463
down €3,463 (-65.3%), from €5,301 to €1,838
- Intangible fixed assets -€1,567
down €1,567 (-100.0%), from €1,567 to €0
- Other debts -€5,807
down €5,807 (-38.8%), from €14,953 to €9,146
- Tax, wage and social debts +€5,113
up €5,113 (+78.3%), from €6,532 to €11,645
of which Taxes: +€9,076
- Trade debts -€2,321
down €2,321 (-50.0%), from €4,640 to €2,319
- Reserves -€992
down €992 (-1.4%), from €71,780 to €70,788
- Gross operating margin +€43,503
up €43,503 (+72783.8%), from €60 to €43,563
- Taxes +€10,233
up €10,233 (+1023.3%), from €1,000 to €11,233
- Write-downs +€4,304
new in 2025: €4,304
- Financial income -€1,397
down €1,397 (-71.0%), from €1,968 to €571
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 | €97,906 | €93,899 | -€4,007 | -4.1% |
| Fixed assets | 21/28 | €4,414 | €2,423 | -€1,991 | -45.1% |
| Intangible fixed assets | 21 | €1,567 | €0 | -€1,567 | -100.0% |
| Tangible fixed assets | 22/27 | €2,847 | €2,423 | -€424 | -14.9% |
| Furniture and vehicles | 24 | €2,847 | €2,423 | -€424 | -14.9% |
| Current assets | 29/58 | €93,492 | €91,476 | -€2,016 | -2.2% |
| Amounts receivable after more than one year | 29 | €23,030 | €0 | -€23,030 | -100.0% |
| Other amounts receivable | 291 | €23,030 | €0 | -€23,030 | -100.0% |
| Stocks and contracts in progress | 3 | €650 | €0 | -€650 | -100.0% |
| Contracts in progress | 37 | €650 | €0 | -€650 | -100.0% |
| Amounts receivable within one year | 40/41 | €30,143 | €20,408 | -€9,735 | -32.3% |
| Trade receivables | 40 | €19,111 | €20,408 | +€1,297 | +6.8% |
| Other amounts receivable | 41 | €11,032 | €0 | -€11,032 | -100.0% |
| Cash at bank and in hand | 54/58 | €34,368 | €69,230 | +€34,862 | +101.4% |
| Deferred charges and accrued income | 490/1 | €5,301 | €1,838 | -€3,463 | -65.3% |
| Total equity and liabilities | 10/49 | €97,906 | €93,899 | -€4,007 | -4.1% |
| Equity | 10/15 | €71,780 | €70,788 | -€992 | -1.4% |
| Reserves | 13 | €71,780 | €70,788 | -€992 | -1.4% |
| Distributable reserves | 133 | €71,780 | €70,788 | -€992 | -1.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €26,126 | €23,111 | -€3,015 | -11.5% |
| Amounts payable within one year | 42/48 | €26,126 | €23,111 | -€3,015 | -11.5% |
| Trade debts | 44 | €4,640 | €2,319 | -€2,321 | -50.0% |
| Suppliers | 440/4 | €4,640 | €2,319 | -€2,321 | -50.0% |
| Taxes, remuneration and social security | 45 | €6,532 | €11,645 | +€5,113 | +78.3% |
| Taxes | 450/3 | €2,569 | €11,645 | +€9,076 | +353.3% |
| Remuneration and social security | 454/9 | €3,963 | €0 | -€3,963 | -100.0% |
| Other amounts payable | 47/48 | €14,953 | €9,146 | -€5,807 | -38.8% |
| Remuneration, social security and pensions | 62 | €0 | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €322 | €424 | +€102 | +31.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €4,304 | +€4,304 | |
| Other operating charges | 640/8 | €489 | €695 | +€205 | +42.0% |
| Gross operating margin | 9900 | €60 | €43,563 | +€43,503 | +72783.8% |
| Operating profit (loss) | 9901 | -€751 | €38,140 | +€38,891 | |
| Financial income | 75/76B | €1,968 | €571 | -€1,397 | -71.0% |
| Recurring financial income | 75 | €1,968 | €571 | -€1,397 | -71.0% |
| Financial charges | 65/66B | €74 | €145 | +€72 | +97.8% |
| Recurring financial charges | 65 | €74 | €145 | +€72 | +97.8% |
| Profit (loss) for the period before taxes | 9903 | €1,143 | €38,566 | +€37,423 | +3273.4% |
| Income taxes | 67/77 | €1,000 | €11,233 | +€10,233 | +1023.3% |
| Profit (loss) for the period | 9904 | €143 | €27,333 | +€27,189 | +18981.7% |
| Profit (loss) for the period to be appropriated | 9905 | €143 | €27,333 | +€27,189 | +18981.7% |
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.