VNCT: 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.
VNCT
Largest movements
- Receivables within one year +€9,580
up €9,580 (+26.9%), from €35,574 to €45,155
of which Trade receivables: +€9,722
- Cash +€6,794
up €6,794 (+57.6%), from €11,788 to €18,582
mainly Net result for the year (+€58,639) and Depreciation (+€15,486)
- Tangible fixed assets -€6,616
down €6,616 (-14.1%), from €46,922 to €40,306
of which Furniture and vehicles: -€6,075
- Other debts -€53,992
down €53,992 (-50.8%), from €106,222 to €52,230
- Profit (loss) carried forward +€31,635
no longer reported in 2025 (was -€31,635)
- Reserves +€27,004
up €27,004 (+486.6%), from €5,550 to €32,554
of which Distributable reserves: +€28,864
- Tax, wage and social debts +€6,456
up €6,456 (+69.8%), from €9,243 to €15,699
of which Taxes: +€6,267
- Trade debts -€1,576
down €1,576 (-37.2%), from €4,231 to €2,655
- Gross operating margin +€43,788
up €43,788 (+47.2%), from €92,819 to €136,607
- Taxes +€14,131
up €14,131 (+223.9%), from €6,310 to €20,442
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 | €99,921 | €109,475 | +€9,555 | +9.6% |
| Fixed assets | 21/28 | €46,922 | €40,306 | -€6,616 | -14.1% |
| Tangible fixed assets | 22/27 | €46,922 | €40,306 | -€6,616 | -14.1% |
| Furniture and vehicles | 24 | €45,300 | €39,225 | -€6,075 | -13.4% |
| Other tangible fixed assets | 26 | €1,622 | €1,082 | -€541 | -33.3% |
| Current assets | 29/58 | €52,998 | €69,169 | +€16,171 | +30.5% |
| Amounts receivable within one year | 40/41 | €35,574 | €45,155 | +€9,580 | +26.9% |
| Trade receivables | 40 | €35,433 | €45,155 | +€9,722 | +27.4% |
| Other amounts receivable | 41 | €142 | - | -€142 | |
| Cash at bank and in hand | 54/58 | €11,788 | €18,582 | +€6,794 | +57.6% |
| Deferred charges and accrued income | 490/1 | €5,636 | €5,432 | -€204 | -3.6% |
| Total equity and liabilities | 10/49 | €99,921 | €109,475 | +€9,555 | +9.6% |
| Equity | 10/15 | -€19,885 | €38,754 | +€58,639 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €5,550 | €32,554 | +€27,004 | +486.6% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €3,690 | €32,554 | +€28,864 | +782.2% |
| Profit (loss) carried forward | 14 | -€31,635 | - | +€31,635 | |
| Amounts payable | 17/49 | €119,806 | €70,722 | -€49,084 | -41.0% |
| Amounts payable within one year | 42/48 | €119,696 | €70,584 | -€49,112 | -41.0% |
| Trade debts | 44 | €4,231 | €2,655 | -€1,576 | -37.2% |
| Suppliers | 440/4 | €4,231 | €2,655 | -€1,576 | -37.2% |
| Taxes, remuneration and social security | 45 | €9,243 | €15,699 | +€6,456 | +69.8% |
| Taxes | 450/3 | €3,956 | €10,223 | +€6,267 | +158.4% |
| Remuneration and social security | 454/9 | €5,287 | €5,476 | +€189 | +3.6% |
| Other amounts payable | 47/48 | €106,222 | €52,230 | -€53,992 | -50.8% |
| Accrued charges and deferred income | 492/3 | €110 | €138 | +€28 | +25.7% |
| Remuneration, social security and pensions | 62 | €40,477 | €41,630 | +€1,153 | +2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,218 | €15,486 | +€1,268 | +8.9% |
| Other operating charges | 640/8 | €467 | €480 | +€12 | +2.7% |
| Non-recurring operating charges | 66A | €14 | - | -€14 | |
| Gross operating margin | 9900 | €92,819 | €136,607 | +€43,788 | +47.2% |
| Operating profit (loss) | 9901 | €37,643 | €79,011 | +€41,368 | +109.9% |
| Financial income | 75/76B | €0 | €204 | +€204 | +679100.0% |
| Recurring financial income | 75 | €0 | €204 | +€204 | +679100.0% |
| Financial charges | 65/66B | €120 | €134 | +€14 | +11.6% |
| Recurring financial charges | 65 | €120 | €134 | +€14 | +11.6% |
| Profit (loss) for the period before taxes | 9903 | €37,522 | €79,081 | +€41,558 | +110.8% |
| Income taxes | 67/77 | €6,310 | €20,442 | +€14,131 | +223.9% |
| Profit (loss) for the period | 9904 | €31,212 | €58,639 | +€27,427 | +87.9% |
| Profit (loss) for the period to be appropriated | 9905 | €31,212 | €58,639 | +€27,427 | +87.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.