VN 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.
VN SERVICES
Largest movements
- Receivables within one year +€459,989
up €459,989 (+18.4%), from €2.5m to €3.0m
of which Trade receivables: +€318,902
- Cash -€221,590
down €221,590 (-51.4%), from €430,880 to €209,290
mainly Receivables within one year (-€459,989) and Tax, wage and social debts (-€159,895)
- Stocks and contracts -€189,462
down €189,462 (-13.9%), from €1.4m to €1.2m
- Profit (loss) carried forward +€262,512
up €262,512 (+7.7%), from €3.4m to €3.7m
- Tax, wage and social debts -€159,895
down €159,895 (-43.8%), from €364,921 to €205,026
of which Remuneration and social security: -€121,477
- Trade debts -€78,320
down €78,320 (-29.0%), from €269,865 to €191,546
- Staff costs -€298,736
down €298,736 (-27.6%), from €1.1m to €784,668
- Write-downs +€113,730
up €113,730 (+183.4%), from €62,019 to €175,749
- Gross operating margin -€71,074
down €71,074 (-5.3%), from €1.4m to €1.3m
- Taxes +€32,398
up €32,398 (+52.4%), from €61,779 to €94,177
- Financial income -€16,369
down €16,369 (-17.2%), from €95,130 to €78,761
From the 28-12-2024 result to the 03-01-2026 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 28-12-2024 and 03-01-2026 balance sheets and the 03-01-2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 28-12-2024 | 03-01-2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,360,517 | €4,394,202 | +€33,685 | +0.8% |
| Fixed assets | 21/28 | €31,530 | €24,774 | -€6,756 | -21.4% |
| Tangible fixed assets | 22/27 | €31,365 | €24,600 | -€6,765 | -21.6% |
| Plant, machinery and equipment | 23 | €2,530 | €1,771 | -€759 | -30.0% |
| Furniture and vehicles | 24 | €28,835 | €22,829 | -€6,006 | -20.8% |
| Financial fixed assets | 28 | €164 | €174 | +€10 | +5.8% |
| Current assets | 29/58 | €4,328,988 | €4,369,429 | +€40,441 | +0.9% |
| Stocks and contracts in progress | 3 | €1,367,421 | €1,177,959 | -€189,462 | -13.9% |
| Stocks | 30/36 | €1,367,421 | €1,177,959 | -€189,462 | -13.9% |
| Amounts receivable within one year | 40/41 | €2,506,456 | €2,966,445 | +€459,989 | +18.4% |
| Trade receivables | 40 | €436,577 | €755,479 | +€318,902 | +73.0% |
| Other amounts receivable | 41 | €2,069,879 | €2,210,966 | +€141,086 | +6.8% |
| Cash at bank and in hand | 54/58 | €430,880 | €209,290 | -€221,590 | -51.4% |
| Deferred charges and accrued income | 490/1 | €24,231 | €15,735 | -€8,496 | -35.1% |
| Total equity and liabilities | 10/49 | €4,360,517 | €4,394,202 | +€33,685 | +0.8% |
| Equity | 10/15 | €3,706,170 | €3,968,682 | +€262,512 | +7.1% |
| Contributions | 10/11 | €275,211 | €275,211 | = | 0.0% |
| Capital | 10 | €275,211 | €275,211 | = | 0.0% |
| Issued capital | 100 | €300,000 | €300,000 | = | 0.0% |
| Uncalled capital | 101 | €24,789 | €24,789 | = | 0.0% |
| Reserves | 13 | €30,000 | €30,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €30,000 | €30,000 | = | 0.0% |
| Legal reserve | 130 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,400,959 | €3,663,471 | +€262,512 | +7.7% |
| Amounts payable | 17/49 | €654,347 | €425,520 | -€228,827 | -35.0% |
| Amounts payable within one year | 42/48 | €634,787 | €396,572 | -€238,215 | -37.5% |
| Trade debts | 44 | €269,865 | €191,546 | -€78,320 | -29.0% |
| Suppliers | 440/4 | €269,865 | €191,546 | -€78,320 | -29.0% |
| Taxes, remuneration and social security | 45 | €364,921 | €205,026 | -€159,895 | -43.8% |
| Taxes | 450/3 | €38,418 | - | -€38,418 | |
| Remuneration and social security | 454/9 | €326,503 | €205,026 | -€121,477 | -37.2% |
| Accrued charges and deferred income | 492/3 | €19,561 | €28,949 | +€9,388 | +48.0% |
| Non-recurring operating income | 76A | €4,628 | - | -€4,628 | |
| Remuneration, social security and pensions | 62 | €1,083,404 | €784,668 | -€298,736 | -27.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,871 | €6,765 | -€12,105 | -64.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €62,019 | €175,749 | +€113,730 | +183.4% |
| Other operating charges | 640/8 | €9,339 | €589 | -€8,750 | -93.7% |
| Gross operating margin | 9900 | €1,351,594 | €1,280,520 | -€71,074 | -5.3% |
| Operating profit (loss) | 9901 | €177,962 | €312,749 | +€134,787 | +75.7% |
| Financial income | 75/76B | €95,130 | €78,761 | -€16,369 | -17.2% |
| Recurring financial income | 75 | €95,130 | €78,761 | -€16,369 | -17.2% |
| Financial charges | 65/66B | €48,121 | €34,821 | -€13,300 | -27.6% |
| Recurring financial charges | 65 | €48,121 | €34,821 | -€13,300 | -27.6% |
| Profit (loss) for the period before taxes | 9903 | €224,970 | €356,688 | +€131,718 | +58.5% |
| Income taxes | 67/77 | €61,779 | €94,177 | +€32,398 | +52.4% |
| Profit (loss) for the period | 9904 | €163,192 | €262,512 | +€99,320 | +60.9% |
| Profit (loss) for the period to be appropriated | 9905 | €163,192 | €262,512 | +€99,320 | +60.9% |
Source: filed annual accounts (NBB), fiscal years ended 28 December 2024 and 3 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.