VS MANAGEMENT: 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 MANAGEMENT
Largest movements
- Receivables within one year -€21,368
down €21,368 (-88.9%), from €24,030 to €2,662
of which Other amounts receivable: -€18,331
- Profit (loss) carried forward -€26,808
down €26,808 (-44.9%), from €59,743 to €32,935
- Other debts +€2,722
new in 2025: €2,722
- Trade debts +€2,664
up €2,664 (+2,258%), from €118 to €2,782
- Gross operating margin -€25,981
down €25,981 (-892%), from -€2,913 to -€28,894
- Financial income -€410
down €410 (-12.6%), from €3,258 to €2,848
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 | €74,121 | €52,699 | -€21,423 | -28.9% |
| Current assets | 29/58 | €74,121 | €52,699 | -€21,423 | -28.9% |
| Amounts receivable after more than one year | 29 | €50,000 | €50,000 | = | 0.0% |
| Other amounts receivable | 291 | €50,000 | €50,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €24,030 | €2,662 | -€21,368 | -88.9% |
| Trade receivables | 40 | €5,699 | €2,662 | -€3,037 | -53.3% |
| Other amounts receivable | 41 | €18,331 | €0 | -€18,331 | -100% |
| Cash at bank and in hand | 54/58 | €91 | €37 | -€54 | -59.8% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €74,121 | €52,699 | -€21,423 | -28.9% |
| Equity | 10/15 | €74,003 | €47,195 | -€26,808 | -36.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Distributable reserves | 133 | - | €1,860 | +€1,860 | |
| Profit (loss) carried forward | 14 | €59,743 | €32,935 | -€26,808 | -44.9% |
| Amounts payable | 17/49 | €118 | €5,504 | +€5,386 | +4,564% |
| Amounts payable within one year | 42/48 | €118 | €5,504 | +€5,386 | +4,564% |
| Trade debts | 44 | €118 | €2,782 | +€2,664 | +2,258% |
| Suppliers | 440/4 | €118 | €2,782 | +€2,664 | +2,258% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | - | €2,722 | +€2,722 | |
| Other operating charges | 640/8 | €502 | €507 | +€5 | +1.0% |
| Gross operating margin | 9900 | -€2,913 | -€28,894 | -€25,981 | -892% |
| Operating profit (loss) | 9901 | -€3,415 | -€29,401 | -€25,986 | -761% |
| Financial income | 75/76B | €3,258 | €2,848 | -€410 | -12.6% |
| Recurring financial income | 75 | €3,258 | €2,848 | -€410 | -12.6% |
| Financial charges | 65/66B | €258 | €255 | -€3 | -1.0% |
| Recurring financial charges | 65 | €258 | €255 | -€3 | -1.0% |
| Profit (loss) for the period before taxes | 9903 | -€415 | -€26,808 | -€26,393 | -6,359% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€415 | -€26,808 | -€26,393 | -6,359% |
| Profit (loss) for the period to be appropriated | 9905 | -€415 | -€26,808 | -€26,393 | -6,359% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.