VS Installations: 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 Installations
Largest movements
- Tangible fixed assets -€24,097
down €24,097 (-23.9%), from €100,737 to €76,640
of which Furniture and vehicles: -€21,225
- Cash +€14,419
up €14,419 (+47.0%), from €30,674 to €45,093
mainly Depreciation (+€27,392) and Net result for the year (+€16,846)
- Receivables within one year -€3,623
down €3,623 (-15.6%), from €23,257 to €19,634
of which Trade receivables: -€7,362
- Debts after one year -€23,604
down €23,604 (-34.1%), from €69,235 to €45,630
- Other debts +€14,566
up €14,566 (+120.4%), from €12,096 to €26,663
- Tax, wage and social debts -€5,271
down €5,271 (-100.0%), from €5,271 to €0
of which Remuneration and social security: -€4,270
- Gross operating margin +€14,415
up €14,415 (+35.5%), from €40,584 to €54,999
- Taxes +€4,476
up €4,476 (+304.9%), from €1,468 to €5,944
- Financial charges -€946
down €946 (-17.6%), from €5,378 to €4,432
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 | €161,759 | €147,398 | -€14,362 | -8.9% |
| Fixed assets | 21/28 | €103,632 | €78,802 | -€24,830 | -24.0% |
| Intangible fixed assets | 21 | €2,895 | €2,162 | -€733 | -25.3% |
| Tangible fixed assets | 22/27 | €100,737 | €76,640 | -€24,097 | -23.9% |
| Land and buildings | 22 | €5,857 | €4,585 | -€1,272 | -21.7% |
| Plant, machinery and equipment | 23 | €636 | €701 | +€65 | +10.2% |
| Furniture and vehicles | 24 | €81,707 | €60,482 | -€21,225 | -26.0% |
| Other tangible fixed assets | 26 | €12,537 | €10,873 | -€1,665 | -13.3% |
| Current assets | 29/58 | €58,127 | €68,595 | +€10,468 | +18.0% |
| Stocks and contracts in progress | 3 | €2,066 | €2,801 | +€735 | +35.6% |
| Stocks | 30/36 | €2,066 | €2,801 | +€735 | +35.6% |
| Amounts receivable within one year | 40/41 | €23,257 | €19,634 | -€3,623 | -15.6% |
| Trade receivables | 40 | €12,544 | €5,182 | -€7,362 | -58.7% |
| Other amounts receivable | 41 | €10,712 | €14,452 | +€3,739 | +34.9% |
| Cash at bank and in hand | 54/58 | €30,674 | €45,093 | +€14,419 | +47.0% |
| Deferred charges and accrued income | 490/1 | €2,131 | €1,068 | -€1,062 | -49.9% |
| Total equity and liabilities | 10/49 | €161,759 | €147,398 | -€14,362 | -8.9% |
| Equity | 10/15 | €47,049 | €47,895 | +€846 | +1.8% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €40,000 | €40,000 | = | 0.0% |
| Distributable reserves | 133 | €40,000 | €40,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €49 | €895 | +€846 | +1719.4% |
| Amounts payable | 17/49 | €114,710 | €99,503 | -€15,208 | -13.3% |
| Amounts payable after more than one year | 17 | €69,235 | €45,630 | -€23,604 | -34.1% |
| Financial debts | 170/4 | €69,235 | €45,630 | -€23,604 | -34.1% |
| Amounts payable within one year | 42/48 | €41,081 | €50,848 | +€9,767 | +23.8% |
| Current portion of amounts payable after more than one year | 42 | €22,575 | €23,604 | +€1,030 | +4.6% |
| Trade debts | 44 | €1,139 | €582 | -€558 | -48.9% |
| Suppliers | 440/4 | €1,139 | €582 | -€558 | -48.9% |
| Taxes, remuneration and social security | 45 | €5,271 | €0 | -€5,271 | -100.0% |
| Taxes | 450/3 | €1,001 | €0 | -€1,001 | -100.0% |
| Remuneration and social security | 454/9 | €4,270 | €0 | -€4,270 | -100.0% |
| Other amounts payable | 47/48 | €12,096 | €26,663 | +€14,566 | +120.4% |
| Accrued charges and deferred income | 492/3 | €4,394 | €3,024 | -€1,370 | -31.2% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,237 | €27,392 | +€155 | +0.6% |
| Other operating charges | 640/8 | €641 | €640 | -€1 | -0.1% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €40,584 | €54,999 | +€14,415 | +35.5% |
| Operating profit (loss) | 9901 | €12,706 | €26,966 | +€14,260 | +112.2% |
| Financial income | 75/76B | €171 | €256 | +€85 | +49.7% |
| Recurring financial income | 75 | €171 | €256 | +€85 | +49.7% |
| Financial charges | 65/66B | €5,378 | €4,432 | -€946 | -17.6% |
| Recurring financial charges | 65 | €5,378 | €4,432 | -€946 | -17.6% |
| Profit (loss) for the period before taxes | 9903 | €7,499 | €22,790 | +€15,291 | +203.9% |
| Income taxes | 67/77 | €1,468 | €5,944 | +€4,476 | +304.9% |
| Profit (loss) for the period | 9904 | €6,031 | €16,846 | +€10,815 | +179.3% |
| Profit (loss) for the period to be appropriated | 9905 | €6,031 | €16,846 | +€10,815 | +179.3% |
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 12 October 2026 via checked.be.