@VS: 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.
@VS
Largest movements
- Cash +€20,609
up €20,609 (+161%), from €12,778 to €33,387
mainly Net result for the year (+€51,217) and Other debts (+€15,810)
- Receivables within one year +€3,402
up €3,402 (+9.3%), from €36,599 to €40,001
of which Other amounts receivable: +€12,252
- Other debts +€15,810
up €15,810 (+57.4%), from €27,540 to €43,350
- Tax, wage and social debts +€8,420
up €8,420 (+61.1%), from €13,770 to €22,190
of which Taxes: +€7,170
- Gross operating margin +€26,689
up €26,689 (+48.7%), from €54,821 to €81,510
- Staff costs +€7,478
new in 2025: €7,478
- Taxes +€4,187
up €4,187 (+37.4%), from €11,197 to €15,384
- Other operating charges -€1,616
down €1,616 (-60.3%), from €2,679 to €1,063
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 | €57,684 | €82,469 | +€24,785 | +43.0% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €7,961 | €8,018 | +€57 | +0.7% |
| Intangible fixed assets | 21 | €187 | €0 | -€187 | -100% |
| Tangible fixed assets | 22/27 | €7,774 | €8,018 | +€244 | +3.1% |
| Furniture and vehicles | 24 | €1,280 | €2,223 | +€943 | +73.7% |
| Other tangible fixed assets | 26 | €6,494 | €5,796 | -€699 | -10.8% |
| Current assets | 29/58 | €49,723 | €74,451 | +€24,727 | +49.7% |
| Amounts receivable within one year | 40/41 | €36,599 | €40,001 | +€3,402 | +9.3% |
| Trade receivables | 40 | €11,472 | €2,622 | -€8,850 | -77.1% |
| Other amounts receivable | 41 | €25,127 | €37,379 | +€12,252 | +48.8% |
| Cash at bank and in hand | 54/58 | €12,778 | €33,387 | +€20,609 | +161% |
| Deferred charges and accrued income | 490/1 | €346 | €1,063 | +€717 | +207% |
| Total equity and liabilities | 10/49 | €57,684 | €82,469 | +€24,785 | +43.0% |
| Equity | 10/15 | €7,971 | €8,187 | +€217 | +2.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,971 | €5,187 | +€217 | +4.4% |
| Amounts payable | 17/49 | €49,714 | €74,282 | +€24,568 | +49.4% |
| Amounts payable within one year | 42/48 | €49,714 | €74,282 | +€24,568 | +49.4% |
| Current portion of amounts payable after more than one year | 42 | €6,556 | €6,588 | +€32 | +0.5% |
| Trade debts | 44 | €1,848 | €2,154 | +€306 | +16.6% |
| Suppliers | 440/4 | €1,848 | €2,154 | +€306 | +16.6% |
| Taxes, remuneration and social security | 45 | €13,770 | €22,190 | +€8,420 | +61.1% |
| Taxes | 450/3 | €13,770 | €20,940 | +€7,170 | +52.1% |
| Remuneration and social security | 454/9 | €0 | €1,250 | +€1,250 | |
| Other amounts payable | 47/48 | €27,540 | €43,350 | +€15,810 | +57.4% |
| Remuneration, social security and pensions | 62 | - | €7,478 | +€7,478 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,322 | €2,819 | -€503 | -15.1% |
| Other operating charges | 640/8 | €2,679 | €1,063 | -€1,616 | -60.3% |
| Gross operating margin | 9900 | €54,821 | €81,510 | +€26,689 | +48.7% |
| Operating profit (loss) | 9901 | €48,820 | €70,150 | +€21,330 | +43.7% |
| Financial income | 75/76B | €2 | €15 | +€13 | +854% |
| Recurring financial income | 75 | €2 | €15 | +€13 | +854% |
| Financial charges | 65/66B | €3,899 | €3,565 | -€335 | -8.6% |
| Recurring financial charges | 65 | €3,899 | €3,565 | -€335 | -8.6% |
| Profit (loss) for the period before taxes | 9903 | €44,922 | €66,600 | +€21,678 | +48.3% |
| Income taxes | 67/77 | €11,197 | €15,384 | +€4,187 | +37.4% |
| Profit (loss) for the period | 9904 | €33,726 | €51,217 | +€17,491 | +51.9% |
| Profit (loss) for the period to be appropriated | 9905 | €33,726 | €51,217 | +€17,491 | +51.9% |
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 16 October 2026 via checked.be.