VS & C°: 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 & C°
Largest movements
- Tangible fixed assets +€93,453
up €93,453 (+12.8%), from €731,800 to €825,253
of which Land and buildings: +€94,690
- Receivables within one year -€34,359
down €34,359 (-9.0%), from €380,519 to €346,160
of which Trade receivables: -€57,944
- Trade debts -€116,567
down €116,567 (-85.9%), from €135,727 to €19,160
- Debts after one year +€67,200
up €67,200 (+10.3%), from €654,226 to €721,426
- Current portion of long-term debt +€66,866
up €66,866 (+248.3%), from €26,925 to €93,792
- Profit (loss) carried forward +€21,954
up €21,954 (+10.4%), from €211,638 to €233,592
- Tax, wage and social debts +€12,268
up €12,268 (+96.0%), from €12,785 to €25,052
- Gross operating margin +€33,838
up €33,838 (+38.4%), from €88,210 to €122,048
- Financial charges +€20,698
up €20,698 (+91.0%), from €22,746 to €43,444
- Depreciation +€18,547
up €18,547 (+101.3%), from €18,307 to €36,854
- Other operating charges +€8,163
up €8,163 (+468.3%), from €1,743 to €9,906
- Taxes -€1,642
down €1,642 (-14.2%), from €11,533 to €9,891
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 | €1,121,242 | €1,173,830 | +€52,587 | +4.7% |
| Fixed assets | 21/28 | €731,800 | €825,253 | +€93,453 | +12.8% |
| Tangible fixed assets | 22/27 | €731,800 | €825,253 | +€93,453 | +12.8% |
| Land and buildings | 22 | €727,352 | €822,042 | +€94,690 | +13.0% |
| Plant, machinery and equipment | 23 | €2,248 | €1,561 | -€687 | -30.6% |
| Furniture and vehicles | 24 | €2,200 | €1,650 | -€550 | -25.0% |
| Current assets | 29/58 | €389,442 | €348,577 | -€40,866 | -10.5% |
| Amounts receivable within one year | 40/41 | €380,519 | €346,160 | -€34,359 | -9.0% |
| Trade receivables | 40 | €152,357 | €94,413 | -€57,944 | -38.0% |
| Other amounts receivable | 41 | €228,162 | €251,747 | +€23,585 | +10.3% |
| Current investments | 50/53 | €1,267 | - | -€1,267 | |
| Cash at bank and in hand | 54/58 | €4,611 | €1,439 | -€3,173 | -68.8% |
| Deferred charges and accrued income | 490/1 | €3,045 | €978 | -€2,067 | -67.9% |
| Total equity and liabilities | 10/49 | €1,121,242 | €1,173,830 | +€52,587 | +4.7% |
| Equity | 10/15 | €289,898 | €311,852 | +€21,954 | +7.6% |
| Contributions | 10/11 | €6,400 | €6,400 | = | 0.0% |
| Outside capital | 11 | €6,400 | €6,400 | = | 0.0% |
| Other | 1109/19 | €6,400 | €6,400 | = | 0.0% |
| Reserves | 13 | €71,860 | €71,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | - | €1,860 | +€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €70,000 | €70,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €211,638 | €233,592 | +€21,954 | +10.4% |
| Amounts payable | 17/49 | €831,344 | €861,978 | +€30,633 | +3.7% |
| Amounts payable after more than one year | 17 | €654,226 | €721,426 | +€67,200 | +10.3% |
| Financial debts | 170/4 | €654,226 | €721,426 | +€67,200 | +10.3% |
| Amounts payable within one year | 42/48 | €175,437 | €138,004 | -€37,433 | -21.3% |
| Current portion of amounts payable after more than one year | 42 | €26,925 | €93,792 | +€66,866 | +248.3% |
| Trade debts | 44 | €135,727 | €19,160 | -€116,567 | -85.9% |
| Suppliers | 440/4 | €135,727 | €19,160 | -€116,567 | -85.9% |
| Taxes, remuneration and social security | 45 | €12,785 | €25,052 | +€12,268 | +96.0% |
| Taxes | 450/3 | €12,785 | €25,052 | +€12,268 | +96.0% |
| Accrued charges and deferred income | 492/3 | €1,681 | €2,548 | +€866 | +51.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,307 | €36,854 | +€18,547 | +101.3% |
| Other operating charges | 640/8 | €1,743 | €9,906 | +€8,163 | +468.3% |
| Gross operating margin | 9900 | €88,210 | €122,048 | +€33,838 | +38.4% |
| Operating profit (loss) | 9901 | €68,160 | €75,288 | +€7,128 | +10.5% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €22,746 | €43,444 | +€20,698 | +91.0% |
| Recurring financial charges | 65 | €22,746 | €43,444 | +€20,698 | +91.0% |
| Profit (loss) for the period before taxes | 9903 | €45,415 | €31,845 | -€13,571 | -29.9% |
| Income taxes | 67/77 | €11,533 | €9,891 | -€1,642 | -14.2% |
| Profit (loss) for the period | 9904 | €33,883 | €21,954 | -€11,928 | -35.2% |
| Profit (loss) for the period to be appropriated | 9905 | €33,883 | €21,954 | -€11,928 | -35.2% |
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 2 October 2026 via checked.be.