VS Design: 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 Design
Largest movements
- Tangible fixed assets +€19,418
up €19,418 (+50.8%), from €38,203 to €57,621
of which Other tangible fixed assets: +€23,268
- Intangible fixed assets +€8,646
new in 2025: €8,646
- Receivables within one year -€5,435
down €5,435 (-53.4%), from €10,171 to €4,737
of which Other amounts receivable: -€10,083
- Cash -€3,090
down €3,090 (-44.8%), from €6,898 to €3,808
mainly Investment in fixed assets (net) (-€34,186) and Trade debts (-€12,100)
- Formation expenses -€1,500
down €1,500 (-20.1%), from €7,451 to €5,951
- Debts after one year +€29,076
new in 2025: €29,076
- Trade debts -€12,100
down €12,100 (-100%), from €12,100 to €0
- Other debts +€8,375
up €8,375 (+19.2%), from €43,560 to €51,935
- Profit (loss) carried forward -€7,313
down €7,313 (-249%), from -€2,936 to -€10,249
- Depreciation +€7,277
up €7,277 (+2,104%), from €346 to €7,623
- Gross operating margin +€5,410
up €5,410, from -€2,435 to €2,975
- Financial charges +€2,285
new in 2025: €2,285
- Other operating charges +€225
up €225 (+144%), from €156 to €380
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 | €62,724 | €80,762 | +€18,038 | +28.8% |
| Formation expenses | 20 | €7,451 | €5,951 | -€1,500 | -20.1% |
| Fixed assets | 21/28 | €38,203 | €66,267 | +€28,064 | +73.5% |
| Intangible fixed assets | 21 | - | €8,646 | +€8,646 | |
| Tangible fixed assets | 22/27 | €38,203 | €57,621 | +€19,418 | +50.8% |
| Plant, machinery and equipment | 23 | €38,203 | €34,353 | -€3,850 | -10.1% |
| Other tangible fixed assets | 26 | - | €23,268 | +€23,268 | |
| Current assets | 29/58 | €17,070 | €8,544 | -€8,525 | -49.9% |
| Amounts receivable within one year | 40/41 | €10,171 | €4,737 | -€5,435 | -53.4% |
| Trade receivables | 40 | - | €4,648 | +€4,648 | |
| Other amounts receivable | 41 | €10,171 | €88 | -€10,083 | -99.1% |
| Cash at bank and in hand | 54/58 | €6,898 | €3,808 | -€3,090 | -44.8% |
| Total equity and liabilities | 10/49 | €62,724 | €80,762 | +€18,038 | +28.8% |
| Equity | 10/15 | €7,064 | -€249 | -€7,313 | |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,936 | -€10,249 | -€7,313 | -249% |
| Amounts payable | 17/49 | €55,660 | €81,011 | +€25,351 | +45.5% |
| Amounts payable after more than one year | 17 | - | €29,076 | +€29,076 | |
| Financial debts | 170/4 | - | €29,076 | +€29,076 | |
| Amounts payable within one year | 42/48 | €55,660 | €51,935 | -€3,725 | -6.7% |
| Trade debts | 44 | €12,100 | €0 | -€12,100 | -100% |
| Suppliers | 440/4 | €12,100 | €0 | -€12,100 | -100% |
| Other amounts payable | 47/48 | €43,560 | €51,935 | +€8,375 | +19.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €346 | €7,623 | +€7,277 | +2,104% |
| Other operating charges | 640/8 | €156 | €380 | +€225 | +144% |
| Gross operating margin | 9900 | -€2,435 | €2,975 | +€5,410 | |
| Operating profit (loss) | 9901 | -€2,936 | -€5,027 | -€2,091 | -71.2% |
| Financial charges | 65/66B | - | €2,285 | +€2,285 | |
| Recurring financial charges | 65 | - | €2,285 | +€2,285 | |
| Profit (loss) for the period before taxes | 9903 | -€2,936 | -€7,313 | -€4,376 | -149% |
| Profit (loss) for the period | 9904 | -€2,936 | -€7,313 | -€4,376 | -149% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,936 | -€7,313 | -€4,376 | -149% |
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 23 October 2026 via checked.be.