VN - SERVICES: 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.
VN - SERVICES
Largest movements
- Receivables within one year -€141,500
down €141,500 (-43.3%), from €326,500 to €185,000
- Cash -€96,940
down €96,940 (-68.4%), from €141,662 to €44,722
mainly Contributions, distributions and other (-€256,219) and Current portion of long-term debt (-€28,391)
- Reserves -€256,219
down €256,219 (-76.8%), from €333,720 to €77,501
of which Distributable reserves: -€256,219
- Profit (loss) carried forward +€48,077
up €48,077 (+48.4%), from €99,426 to €147,503
- Current portion of long-term debt -€28,391
down €28,391 (-84.5%), from €33,590 to €5,199
- Gross operating margin +€9,521
up €9,521 (+14.2%), from €67,270 to €76,791
- Depreciation +€3,053
up €3,053 (+581%), from €525 to €3,579
- Taxes +€1,767
up €1,767 (+11.8%), from €14,971 to €16,738
- Financial charges -€1,005
down €1,005 (-15.7%), from €6,410 to €5,405
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.
Derived cash bridge
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 | €558,021 | €319,271 | -€238,750 | -42.8% |
| Fixed assets | 21/28 | €85,702 | €85,097 | -€605 | -0.7% |
| Tangible fixed assets | 22/27 | €85,702 | €85,097 | -€605 | -0.7% |
| Land and buildings | 22 | €85,702 | €83,000 | -€2,701 | -3.2% |
| Furniture and vehicles | 24 | - | €2,097 | +€2,097 | |
| Current assets | 29/58 | €472,319 | €234,174 | -€238,145 | -50.4% |
| Amounts receivable within one year | 40/41 | €326,500 | €185,000 | -€141,500 | -43.3% |
| Other amounts receivable | 41 | €326,500 | €185,000 | -€141,500 | -43.3% |
| Cash at bank and in hand | 54/58 | €141,662 | €44,722 | -€96,940 | -68.4% |
| Deferred charges and accrued income | 490/1 | €4,157 | €4,452 | +€295 | +7.1% |
| Total equity and liabilities | 10/49 | €558,021 | €319,271 | -€238,750 | -42.8% |
| Equity | 10/15 | €495,119 | €286,977 | -€208,142 | -42.0% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €333,720 | €77,501 | -€256,219 | -76.8% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Distributable reserves | 133 | €327,522 | €71,303 | -€256,219 | -78.2% |
| Profit (loss) carried forward | 14 | €99,426 | €147,503 | +€48,077 | +48.4% |
| Amounts payable | 17/49 | €62,901 | €32,294 | -€30,608 | -48.7% |
| Amounts payable after more than one year | 17 | €22,005 | €16,806 | -€5,199 | -23.6% |
| Financial debts | 170/4 | €22,005 | €16,806 | -€5,199 | -23.6% |
| Amounts payable within one year | 42/48 | €40,897 | €15,487 | -€25,409 | -62.1% |
| Current portion of amounts payable after more than one year | 42 | €33,590 | €5,199 | -€28,391 | -84.5% |
| Taxes, remuneration and social security | 45 | €3,443 | €5,456 | +€2,014 | +58.5% |
| Taxes | 450/3 | €3,443 | €5,456 | +€2,014 | +58.5% |
| Other amounts payable | 47/48 | €3,864 | €4,832 | +€968 | +25.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €525 | €3,579 | +€3,053 | +581% |
| Other operating charges | 640/8 | €12,834 | €13,236 | +€403 | +3.1% |
| Gross operating margin | 9900 | €67,270 | €76,791 | +€9,521 | +14.2% |
| Operating profit (loss) | 9901 | €53,911 | €59,976 | +€6,065 | +11.3% |
| Financial income | 75/76B | €10,726 | €10,244 | -€482 | -4.5% |
| Recurring financial income | 75 | €10,726 | €10,244 | -€482 | -4.5% |
| Financial charges | 65/66B | €6,410 | €5,405 | -€1,005 | -15.7% |
| Recurring financial charges | 65 | €6,410 | €5,405 | -€1,005 | -15.7% |
| Profit (loss) for the period before taxes | 9903 | €58,227 | €64,815 | +€6,588 | +11.3% |
| Income taxes | 67/77 | €14,971 | €16,738 | +€1,767 | +11.8% |
| Profit (loss) for the period | 9904 | €43,256 | €48,077 | +€4,821 | +11.1% |
| Profit (loss) for the period to be appropriated | 9905 | €43,256 | €48,077 | +€4,821 | +11.1% |
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.