VPC SYSTEMS: 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.
VPC SYSTEMS
Largest movements
- Receivables after one year +€38,056
up €38,056 (+298%), from €12,780 to €50,836
- Cash +€36,919
up €36,919 (+15.8%), from €233,879 to €270,797
mainly Net result for the year (+€56,949) and Depreciation (+€21,071)
- Tangible fixed assets -€21,071
down €21,071 (-28.7%), from €73,313 to €52,242
of which Furniture and vehicles: -€18,901
- Deferred charges and accrued income +€4,404
up €4,404 (+2,034%), from €217 to €4,621
- Receivables within one year +€4,265
up €4,265 (+440%), from €970 to €5,234
- Reserves +€56,949
up €56,949 (+20.6%), from €277,003 to €333,951
of which Distributable reserves: +€56,949
- Other debts -€8,871
no longer reported in 2025 (was €8,871)
- Trade debts +€8,008
up €8,008 (+417%), from €1,920 to €9,928
- Tax, wage and social debts +€6,783
up €6,783 (+754%), from €900 to €7,683
of which Remuneration and social security: +€6,783
- Gross operating margin +€18,488
up €18,488 (+30.9%), from €59,739 to €78,226
- Financial income +€3,889
up €3,889 (+2,054%), from €189 to €4,079
- Taxes +€1,604
up €1,604 (+542%), from €296 to €1,900
- Other operating charges +€960
up €960 (+74.9%), from €1,282 to €2,242
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 | €322,366 | €385,235 | +€62,869 | +19.5% |
| Fixed assets | 21/28 | €73,313 | €52,242 | -€21,071 | -28.7% |
| Tangible fixed assets | 22/27 | €73,313 | €52,242 | -€21,071 | -28.7% |
| Land and buildings | 22 | €13,157 | €11,667 | -€1,490 | -11.3% |
| Plant, machinery and equipment | 23 | €999 | €320 | -€680 | -68.0% |
| Furniture and vehicles | 24 | €59,157 | €40,256 | -€18,901 | -32.0% |
| Current assets | 29/58 | €249,053 | €332,993 | +€83,939 | +33.7% |
| Amounts receivable after more than one year | 29 | €12,780 | €50,836 | +€38,056 | +298% |
| Other amounts receivable | 291 | €12,780 | €50,836 | +€38,056 | +298% |
| Stocks and contracts in progress | 3 | €1,209 | €1,505 | +€296 | +24.5% |
| Stocks | 30/36 | €1,209 | €1,505 | +€296 | +24.5% |
| Amounts receivable within one year | 40/41 | €970 | €5,234 | +€4,265 | +440% |
| Trade receivables | 40 | €970 | €5,234 | +€4,265 | +440% |
| Cash at bank and in hand | 54/58 | €233,879 | €270,797 | +€36,919 | +15.8% |
| Deferred charges and accrued income | 490/1 | €217 | €4,621 | +€4,404 | +2,034% |
| Total equity and liabilities | 10/49 | €322,366 | €385,235 | +€62,869 | +19.5% |
| Equity | 10/15 | €310,675 | €367,624 | +€56,949 | +18.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €277,003 | €333,951 | +€56,949 | +20.6% |
| 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 | €275,143 | €332,091 | +€56,949 | +20.7% |
| Profit (loss) carried forward | 14 | €15,073 | €15,073 | = | 0.0% |
| Amounts payable | 17/49 | €11,691 | €17,611 | +€5,920 | +50.6% |
| Amounts payable within one year | 42/48 | €11,691 | €17,611 | +€5,920 | +50.6% |
| Trade debts | 44 | €1,920 | €9,928 | +€8,008 | +417% |
| Suppliers | 440/4 | €1,920 | €9,928 | +€8,008 | +417% |
| Taxes, remuneration and social security | 45 | €900 | €7,683 | +€6,783 | +754% |
| Taxes | 450/3 | €900 | €900 | = | 0.0% |
| Remuneration and social security | 454/9 | - | €6,783 | +€6,783 | |
| Other amounts payable | 47/48 | €8,871 | - | -€8,871 | |
| Non-recurring operating income | 76A | €290 | €9,677 | +€9,387 | +3,238% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,662 | €21,071 | -€591 | -2.7% |
| Other operating charges | 640/8 | €1,282 | €2,242 | +€960 | +74.9% |
| Gross operating margin | 9900 | €59,739 | €78,226 | +€18,488 | +30.9% |
| Operating profit (loss) | 9901 | €36,794 | €54,913 | +€18,119 | +49.2% |
| Financial income | 75/76B | €189 | €4,079 | +€3,889 | +2,054% |
| Recurring financial income | 75 | €189 | €4,079 | +€3,889 | +2,054% |
| Financial charges | 65/66B | €143 | €143 | = | 0.0% |
| Recurring financial charges | 65 | €143 | €143 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €36,840 | €58,849 | +€22,008 | +59.7% |
| Income taxes | 67/77 | €296 | €1,900 | +€1,604 | +542% |
| Profit (loss) for the period | 9904 | €36,544 | €56,949 | +€20,404 | +55.8% |
| Profit (loss) for the period to be appropriated | 9905 | €36,544 | €56,949 | +€20,404 | +55.8% |
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 14 October 2026 via checked.be.