VRS: 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.
VRS
Largest movements
- Receivables within one year +€26,539
up €26,539 (+235.6%), from €11,262 to €37,801
of which Other amounts receivable: +€14,614
- Cash -€17,133
down €17,133 (-37.8%), from €45,344 to €28,211
mainly Receivables within one year (-€26,539) and Advances received (-€25,951)
- Tangible fixed assets -€9,230
down €9,230 (-41.1%), from €22,440 to €13,210
of which Leasing and similar rights: -€5,289
- Deferred charges and accrued income +€1,132
up €1,132 (+122.3%), from €926 to €2,057
- Trade debts +€30,799
up €30,799 (+69.3%), from €44,427 to €75,226
- Advances received -€25,951
no longer reported in 2025 (was €25,951)
- Profit (loss) carried forward +€6,483
up €6,483 (+22.2%), from -€29,258 to -€22,774
- Debts after one year -€6,077
no longer reported in 2025 (was €6,077)
- Current portion of long-term debt -€4,892
down €4,892 (-44.6%), from €10,969 to €6,077
- Gross operating margin -€5,107
down €5,107 (-16.1%), from €31,779 to €26,673
- Financial charges -€820
down €820 (-30.3%), from €2,705 to €1,885
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 | €84,973 | €86,280 | +€1,308 | +1.5% |
| Fixed assets | 21/28 | €27,440 | €18,210 | -€9,230 | -33.6% |
| Tangible fixed assets | 22/27 | €22,440 | €13,210 | -€9,230 | -41.1% |
| Plant, machinery and equipment | 23 | €1,186 | €1,734 | +€547 | +46.1% |
| Furniture and vehicles | 24 | €14,878 | €10,390 | -€4,488 | -30.2% |
| Leasing and similar rights | 25 | €6,376 | €1,087 | -€5,289 | -83.0% |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €57,532 | €68,070 | +€10,538 | +18.3% |
| Amounts receivable within one year | 40/41 | €11,262 | €37,801 | +€26,539 | +235.6% |
| Trade receivables | 40 | €10,498 | €22,422 | +€11,925 | +113.6% |
| Other amounts receivable | 41 | €765 | €15,379 | +€14,614 | +1910.8% |
| Cash at bank and in hand | 54/58 | €45,344 | €28,211 | -€17,133 | -37.8% |
| Deferred charges and accrued income | 490/1 | €926 | €2,057 | +€1,132 | +122.3% |
| Total equity and liabilities | 10/49 | €84,973 | €86,280 | +€1,308 | +1.5% |
| Equity | 10/15 | -€10,658 | -€4,174 | +€6,483 | +60.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€29,258 | -€22,774 | +€6,483 | +22.2% |
| Amounts payable | 17/49 | €95,630 | €90,455 | -€5,176 | -5.4% |
| Amounts payable after more than one year | 17 | €6,077 | - | -€6,077 | |
| Financial debts | 170/4 | €6,077 | - | -€6,077 | |
| Amounts payable within one year | 42/48 | €89,553 | €90,455 | +€901 | +1.0% |
| Current portion of amounts payable after more than one year | 42 | €10,969 | €6,077 | -€4,892 | -44.6% |
| Trade debts | 44 | €44,427 | €75,226 | +€30,799 | +69.3% |
| Suppliers | 440/4 | €44,427 | €75,226 | +€30,799 | +69.3% |
| Advances received on contracts in progress | 46 | €25,951 | - | -€25,951 | |
| Taxes, remuneration and social security | 45 | €5,553 | €9,151 | +€3,598 | +64.8% |
| Taxes | 450/3 | €5,553 | €9,151 | +€3,598 | +64.8% |
| Other amounts payable | 47/48 | €2,653 | - | -€2,653 | |
| Non-recurring operating income | 76A | - | €34,299 | +€34,299 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,601 | €10,769 | +€168 | +1.6% |
| Other operating charges | 640/8 | €3,415 | €3,270 | -€145 | -4.2% |
| Non-recurring operating charges | 66A | €8,549 | - | -€8,549 | |
| Gross operating margin | 9900 | €31,779 | €26,673 | -€5,107 | -16.1% |
| Operating profit (loss) | 9901 | €9,215 | €12,634 | +€3,419 | +37.1% |
| Financial income | 75/76B | €765 | €878 | +€114 | +14.9% |
| Recurring financial income | 75 | €765 | €878 | +€114 | +14.9% |
| Financial charges | 65/66B | €2,705 | €1,885 | -€820 | -30.3% |
| Recurring financial charges | 65 | €2,705 | €1,885 | -€820 | -30.3% |
| Profit (loss) for the period before taxes | 9903 | €7,275 | €11,628 | +€4,353 | +59.8% |
| Income taxes | 67/77 | €5,197 | €5,144 | -€53 | -1.0% |
| Profit (loss) for the period | 9904 | €2,078 | €6,483 | +€4,406 | +212.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,078 | €6,483 | +€4,406 | +212.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.