VS&P: 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&P
Largest movements
- Receivables within one year -€9,518
down €9,518 (-3.0%), from €321,240 to €311,722
of which Trade receivables: -€20,542
- Deferred charges and accrued income -€3,373
down €3,373 (-100.0%), from €3,373 to €0
- Accrued charges and deferred income -€75,000
down €75,000 (-100.0%), from €75,000 to €0
- Profit (loss) carried forward +€66,635
up €66,635 (+80.3%), from €83,030 to €149,665
- Other debts -€7,027
down €7,027 (-16.8%), from €41,834 to €34,807
- Gross operating margin +€82,150
up €82,150, from -€12,794 to €69,356
- Write-downs -€14,824
no longer reported in 2024 (was €14,824)
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €324,839 | €311,918 | -€12,921 | -4.0% |
| Current assets | 29/58 | €324,839 | €311,918 | -€12,921 | -4.0% |
| Amounts receivable within one year | 40/41 | €321,240 | €311,722 | -€9,518 | -3.0% |
| Trade receivables | 40 | €56,050 | €35,508 | -€20,542 | -36.6% |
| Other amounts receivable | 41 | €265,191 | €276,215 | +€11,024 | +4.2% |
| Cash at bank and in hand | 54/58 | €225 | €196 | -€30 | -13.1% |
| Deferred charges and accrued income | 490/1 | €3,373 | €0 | -€3,373 | -100.0% |
| Total equity and liabilities | 10/49 | €324,839 | €311,918 | -€12,921 | -4.0% |
| Equity | 10/15 | €160,928 | €227,563 | +€66,635 | +41.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €15,898 | €15,898 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €9,698 | €9,698 | = | 0.0% |
| Profit (loss) carried forward | 14 | €83,030 | €149,665 | +€66,635 | +80.3% |
| Amounts payable | 17/49 | €163,911 | €84,355 | -€79,556 | -48.5% |
| Amounts payable within one year | 42/48 | €88,911 | €84,355 | -€4,556 | -5.1% |
| Financial debts | 43 | €12,677 | €12,595 | -€82 | -0.6% |
| Credit institutions | 430/8 | €12,677 | €12,595 | -€82 | -0.6% |
| Trade debts | 44 | €34,400 | €36,954 | +€2,554 | +7.4% |
| Suppliers | 440/4 | €34,400 | €36,954 | +€2,554 | +7.4% |
| Other amounts payable | 47/48 | €41,834 | €34,807 | -€7,027 | -16.8% |
| Accrued charges and deferred income | 492/3 | €75,000 | €0 | -€75,000 | -100.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €14,824 | - | -€14,824 | |
| Other operating charges | 640/8 | €493 | €505 | +€12 | +2.4% |
| Non-recurring operating charges | 66A | €50 | - | -€50 | |
| Gross operating margin | 9900 | -€12,794 | €69,356 | +€82,150 | |
| Operating profit (loss) | 9901 | -€28,161 | €68,851 | +€97,012 | |
| Financial charges | 65/66B | €1,754 | €2,216 | +€462 | +26.3% |
| Recurring financial charges | 65 | €1,754 | €2,216 | +€462 | +26.3% |
| Profit (loss) for the period before taxes | 9903 | -€29,915 | €66,635 | +€96,550 | |
| Profit (loss) for the period | 9904 | -€29,915 | €66,635 | +€96,550 | |
| Profit (loss) for the period to be appropriated | 9905 | -€29,915 | €66,635 | +€96,550 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.