VS 2: 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.
VS 2
Largest movements
- Cash -€18,664
down €18,664 (-22.9%), from €81,337 to €62,673
mainly Debts after one year (-€33,849) and Tax, wage and social debts (-€32,491)
- Intangible fixed assets -€15,000
down €15,000 (-16.9%), from €88,774 to €73,774
- Tangible fixed assets -€7,660
down €7,660 (-12.5%), from €61,082 to €53,422
of which Other tangible fixed assets: -€4,408
- Stocks and contracts +€6,416
up €6,416 (+6.8%), from €93,752 to €100,168
- Debts after one year -€33,849
down €33,849 (-59.8%), from €56,592 to €22,743
- Tax, wage and social debts -€32,491
down €32,491 (-58.1%), from €55,952 to €23,461
of which Remuneration and social security: -€16,547
- Accrued charges and deferred income +€21,927
up €21,927 (+173.4%), from €12,642 to €34,569
- Trade debts +€12,998
up €12,998 (+11.0%), from €117,906 to €130,905
- Gross operating margin -€29,004
down €29,004 (-11.5%), from €252,867 to €223,863
- Staff costs +€20,447
up €20,447 (+12.1%), from €168,714 to €189,161
- Taxes -€9,465
down €9,465 (-97.7%), from €9,688 to €224
- Depreciation -€5,665
down €5,665 (-17.2%), from €32,993 to €27,328
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 | €342,807 | €313,710 | -€29,097 | -8.5% |
| Fixed assets | 21/28 | €149,856 | €127,196 | -€22,660 | -15.1% |
| Intangible fixed assets | 21 | €88,774 | €73,774 | -€15,000 | -16.9% |
| Tangible fixed assets | 22/27 | €61,082 | €53,422 | -€7,660 | -12.5% |
| Plant, machinery and equipment | 23 | €6,781 | €3,840 | -€2,942 | -43.4% |
| Furniture and vehicles | 24 | €1,008 | €698 | -€309 | -30.7% |
| Other tangible fixed assets | 26 | €53,293 | €48,884 | -€4,408 | -8.3% |
| Current assets | 29/58 | €192,951 | €186,513 | -€6,438 | -3.3% |
| Stocks and contracts in progress | 3 | €93,752 | €100,168 | +€6,416 | +6.8% |
| Stocks | 30/36 | €93,752 | €100,168 | +€6,416 | +6.8% |
| Amounts receivable within one year | 40/41 | €16,353 | €19,531 | +€3,178 | +19.4% |
| Trade receivables | 40 | €0 | €0 | = | |
| Other amounts receivable | 41 | €16,353 | €19,531 | +€3,178 | +19.4% |
| Cash at bank and in hand | 54/58 | €81,337 | €62,673 | -€18,664 | -22.9% |
| Deferred charges and accrued income | 490/1 | €1,509 | €4,141 | +€2,632 | +174.4% |
| Total equity and liabilities | 10/49 | €342,807 | €313,710 | -€29,097 | -8.5% |
| Equity | 10/15 | €55,467 | €55,486 | +€19 | 0.0% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €25,467 | €25,486 | +€19 | +0.1% |
| Amounts payable | 17/49 | €287,340 | €258,224 | -€29,116 | -10.1% |
| Amounts payable after more than one year | 17 | €56,592 | €22,743 | -€33,849 | -59.8% |
| Financial debts | 170/4 | €56,592 | €22,743 | -€33,849 | -59.8% |
| Amounts payable within one year | 42/48 | €218,106 | €200,912 | -€17,194 | -7.9% |
| Current portion of amounts payable after more than one year | 42 | €34,247 | €36,547 | +€2,299 | +6.7% |
| Trade debts | 44 | €117,906 | €130,905 | +€12,998 | +11.0% |
| Suppliers | 440/4 | €117,906 | €130,905 | +€12,998 | +11.0% |
| Taxes, remuneration and social security | 45 | €55,952 | €23,461 | -€32,491 | -58.1% |
| Taxes | 450/3 | €20,160 | €4,216 | -€15,945 | -79.1% |
| Remuneration and social security | 454/9 | €35,792 | €19,245 | -€16,547 | -46.2% |
| Other amounts payable | 47/48 | €10,000 | €10,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €12,642 | €34,569 | +€21,927 | +173.4% |
| Remuneration, social security and pensions | 62 | €168,714 | €189,161 | +€20,447 | +12.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,993 | €27,328 | -€5,665 | -17.2% |
| Other operating charges | 640/8 | €2,119 | €2,107 | -€12 | -0.6% |
| Gross operating margin | 9900 | €252,867 | €223,863 | -€29,004 | -11.5% |
| Operating profit (loss) | 9901 | €49,041 | €5,266 | -€43,774 | -89.3% |
| Financial income | 75/76B | €292 | €198 | -€94 | -32.2% |
| Recurring financial income | 75 | €292 | €198 | -€94 | -32.2% |
| Financial charges | 65/66B | €7,208 | €5,222 | -€1,985 | -27.5% |
| Recurring financial charges | 65 | €7,208 | €5,222 | -€1,985 | -27.5% |
| Profit (loss) for the period before taxes | 9903 | €42,125 | €242 | -€41,883 | -99.4% |
| Income taxes | 67/77 | €9,688 | €224 | -€9,465 | -97.7% |
| Profit (loss) for the period | 9904 | €32,437 | €19 | -€32,418 | -99.9% |
| Profit (loss) for the period to be appropriated | 9905 | €32,437 | €19 | -€32,418 | -99.9% |
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 1 October 2026 via checked.be.