VNG: 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.
VNG
Largest movements
- Cash -€116,228
down €116,228 (-3.8%), from €3.1m to €3.0m
mainly Contributions, distributions and other (-€180,783) and Investment in fixed assets (net) (-€127,585)
- Tangible fixed assets +€75,626
up €75,626 (+48.8%), from €154,880 to €230,506
of which Furniture and vehicles: +€94,394
- Reserves -€75,272
down €75,272 (-2.3%), from €3.3m to €3.2m
- Gross operating margin +€33,256
up €33,256 (+23.9%), from €139,220 to €172,476
- Depreciation +€18,105
up €18,105 (+53.5%), from €33,854 to €51,959
- Financial income +€12,893
up €12,893 (+66.9%), from €19,284 to €32,177
- Taxes +€1,993
up €1,993 (+4.9%), from €40,750 to €42,743
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 | €3,333,830 | €3,254,214 | -€79,616 | -2.4% |
| Fixed assets | 21/28 | €154,880 | €230,506 | +€75,626 | +48.8% |
| Tangible fixed assets | 22/27 | €154,880 | €230,506 | +€75,626 | +48.8% |
| Plant, machinery and equipment | 23 | €1,398 | €3,905 | +€2,507 | +179.3% |
| Furniture and vehicles | 24 | €1,703 | €96,097 | +€94,394 | +5543.2% |
| Other tangible fixed assets | 26 | €151,779 | €130,504 | -€21,275 | -14.0% |
| Current assets | 29/58 | €3,178,950 | €3,023,708 | -€155,242 | -4.9% |
| Amounts receivable within one year | 40/41 | €54,669 | €28,190 | -€26,479 | -48.4% |
| Trade receivables | 40 | €16,476 | - | -€16,476 | |
| Other amounts receivable | 41 | €38,193 | €28,190 | -€10,003 | -26.2% |
| Cash at bank and in hand | 54/58 | €3,078,081 | €2,961,854 | -€116,228 | -3.8% |
| Deferred charges and accrued income | 490/1 | €46,200 | €33,665 | -€12,535 | -27.1% |
| Total equity and liabilities | 10/49 | €3,333,830 | €3,254,214 | -€79,616 | -2.4% |
| Equity | 10/15 | €3,326,976 | €3,251,704 | -€75,272 | -2.3% |
| Contributions | 10/11 | €13,000 | €13,000 | = | 0.0% |
| Reserves | 13 | €3,313,976 | €3,238,704 | -€75,272 | -2.3% |
| Distributable reserves | 133 | €3,313,976 | €3,238,704 | -€75,272 | -2.3% |
| Amounts payable | 17/49 | €6,854 | €2,510 | -€4,345 | -63.4% |
| Amounts payable within one year | 42/48 | €6,074 | €2,422 | -€3,652 | -60.1% |
| Trade debts | 44 | €3,031 | €2,422 | -€610 | -20.1% |
| Suppliers | 440/4 | €3,031 | €2,422 | -€610 | -20.1% |
| Taxes, remuneration and social security | 45 | €3,042 | - | -€3,042 | |
| Taxes | 450/3 | €3,042 | - | -€3,042 | |
| Accrued charges and deferred income | 492/3 | €781 | €88 | -€693 | -88.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,854 | €51,959 | +€18,105 | +53.5% |
| Other operating charges | 640/8 | €1,145 | €2,305 | +€1,160 | +101.3% |
| Non-recurring operating charges | 66A | €354 | €2,054 | +€1,700 | +479.6% |
| Gross operating margin | 9900 | €139,220 | €172,476 | +€33,256 | +23.9% |
| Operating profit (loss) | 9901 | €103,866 | €116,157 | +€12,291 | +11.8% |
| Financial income | 75/76B | €19,284 | €32,177 | +€12,893 | +66.9% |
| Recurring financial income | 75 | €19,284 | €32,177 | +€12,893 | +66.9% |
| Financial charges | 65/66B | €70 | €80 | +€10 | +14.5% |
| Recurring financial charges | 65 | €70 | €80 | +€10 | +14.5% |
| Profit (loss) for the period before taxes | 9903 | €123,080 | €148,254 | +€25,174 | +20.5% |
| Income taxes | 67/77 | €40,750 | €42,743 | +€1,993 | +4.9% |
| Profit (loss) for the period | 9904 | €82,330 | €105,511 | +€23,181 | +28.2% |
| Profit (loss) for the period to be appropriated | 9905 | €82,330 | €105,511 | +€23,181 | +28.2% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.