VN QUALITY: 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.
VN QUALITY
Largest movements
- Tangible fixed assets -€69,561
down €69,561 (-61.3%), from €113,394 to €43,833
of which Other tangible fixed assets: -€70,617
- Cash +€63,526
up €63,526 (+907.9%), from €6,997 to €70,523
mainly Net result for the year (+€72,028) and Trade debts (+€61,450)
- Receivables within one year -€10,311
down €10,311 (-22.7%), from €45,369 to €35,057
of which Other amounts receivable: -€5,835
- Intangible fixed assets +€4,146
new in 2025: €4,146
- Other debts -€117,708
down €117,708 (-95.0%), from €123,908 to €6,200
- Trade debts +€61,450
up €61,450 (+1481.8%), from €4,147 to €65,597
- Reserves +€51,881
up €51,881 (+2789.3%), from €1,860 to €53,741
of which Distributable reserves: +€51,881
- Accrued charges and deferred income -€10,274
no longer reported in 2025 (was €10,274)
- Profit (loss) carried forward +€5,147
no longer reported in 2025 (was -€5,147)
- Gross operating margin +€93,100
up €93,100 (+121.0%), from €76,949 to €170,049
- Depreciation -€15,188
down €15,188 (-61.3%), from €24,767 to €9,579
- Taxes +€14,160
new in 2025: €14,160
- Other operating charges -€2,617
down €2,617 (-52.8%), from €4,959 to €2,342
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 | €169,764 | €158,296 | -€11,468 | -6.8% |
| Fixed assets | 21/28 | €116,494 | €51,304 | -€65,190 | -56.0% |
| Intangible fixed assets | 21 | - | €4,146 | +€4,146 | |
| Tangible fixed assets | 22/27 | €113,394 | €43,833 | -€69,561 | -61.3% |
| Land and buildings | 22 | €22,700 | €8,677 | -€14,023 | -61.8% |
| Plant, machinery and equipment | 23 | €17,846 | €35,156 | +€17,311 | +97.0% |
| Furniture and vehicles | 24 | €2,231 | - | -€2,231 | |
| Other tangible fixed assets | 26 | €70,617 | - | -€70,617 | |
| Financial fixed assets | 28 | €3,100 | €3,325 | +€225 | +7.3% |
| Current assets | 29/58 | €53,270 | €106,992 | +€53,722 | +100.8% |
| Amounts receivable within one year | 40/41 | €45,369 | €35,057 | -€10,311 | -22.7% |
| Trade receivables | 40 | €32,707 | €28,231 | -€4,476 | -13.7% |
| Other amounts receivable | 41 | €12,661 | €6,826 | -€5,835 | -46.1% |
| Cash at bank and in hand | 54/58 | €6,997 | €70,523 | +€63,526 | +907.9% |
| Deferred charges and accrued income | 490/1 | €904 | €1,412 | +€507 | +56.1% |
| Total equity and liabilities | 10/49 | €169,764 | €158,296 | -€11,468 | -6.8% |
| Equity | 10/15 | €15,313 | €72,341 | +€57,028 | +372.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €53,741 | +€51,881 | +2789.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | - | €51,881 | +€51,881 | |
| Profit (loss) carried forward | 14 | -€5,147 | - | +€5,147 | |
| Amounts payable | 17/49 | €154,450 | €85,955 | -€68,496 | -44.3% |
| Amounts payable within one year | 42/48 | €144,176 | €85,955 | -€58,221 | -40.4% |
| Trade debts | 44 | €4,147 | €65,597 | +€61,450 | +1481.8% |
| Suppliers | 440/4 | €4,147 | €65,597 | +€61,450 | +1481.8% |
| Taxes, remuneration and social security | 45 | €16,121 | €14,158 | -€1,963 | -12.2% |
| Taxes | 450/3 | €14,871 | €14,158 | -€713 | -4.8% |
| Remuneration and social security | 454/9 | €1,250 | - | -€1,250 | |
| Other amounts payable | 47/48 | €123,908 | €6,200 | -€117,708 | -95.0% |
| Accrued charges and deferred income | 492/3 | €10,274 | - | -€10,274 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,767 | €9,579 | -€15,188 | -61.3% |
| Other operating charges | 640/8 | €4,959 | €2,342 | -€2,617 | -52.8% |
| Non-recurring operating charges | 66A | - | €70,617 | +€70,617 | |
| Gross operating margin | 9900 | €76,949 | €170,049 | +€93,100 | +121.0% |
| Operating profit (loss) | 9901 | €47,223 | €87,511 | +€40,288 | +85.3% |
| Financial income | 75/76B | €413 | €43 | -€370 | -89.6% |
| Recurring financial income | 75 | €413 | €43 | -€370 | -89.6% |
| Financial charges | 65/66B | €824 | €1,367 | +€542 | +65.8% |
| Recurring financial charges | 65 | €824 | €1,367 | +€542 | +65.8% |
| Profit (loss) for the period before taxes | 9903 | €46,812 | €86,187 | +€39,375 | +84.1% |
| Income taxes | 67/77 | - | €14,160 | +€14,160 | |
| Profit (loss) for the period | 9904 | €46,812 | €72,028 | +€25,216 | +53.9% |
| Profit (loss) for the period to be appropriated | 9905 | €46,812 | €72,028 | +€25,216 | +53.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.