VS PRODUCTIES: 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 PRODUCTIES
Largest movements
- Receivables within one year -€22,877
down €22,877 (-53.1%), from €43,098 to €20,222
of which Other amounts receivable: -€11,487
- Receivables after one year +€22,636
new in 2025: €22,636
- Cash +€5,623
up €5,623 (+172%), from €3,262 to €8,885
mainly Receivables within one year (+€22,877) and Advances received (+€3,799)
- Deferred charges and accrued income -€2,224
down €2,224 (-76.8%), from €2,896 to €672
- Tangible fixed assets -€2,218
down €2,218 (-35.6%), from €6,240 to €4,021
of which Plant, machinery and equipment: -€2,033
- Tax, wage and social debts -€6,138
no longer reported in 2025 (was €6,138)
- Advances received +€3,799
new in 2025: €3,799
- Reserves +€1,980
up €1,980 (+35.8%), from €5,526 to €7,506
- Trade debts +€1,299
up €1,299 (+68.7%), from €1,891 to €3,190
- Gross operating margin -€5,426
down €5,426 (-37.7%), from €14,391 to €8,965
- Depreciation -€1,855
down €1,855 (-40.4%), from €4,594 to €2,739
- Financial charges +€513
up €513 (+137%), from €373 to €886
of which Financial charges: +€513
- Taxes -€389
down €389 (-10.4%), from €3,726 to €3,337
- Other operating charges -€293
down €293 (-40.1%), from €730 to €437
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 | €55,846 | €56,786 | +€940 | +1.7% |
| Fixed assets | 21/28 | €6,590 | €4,371 | -€2,218 | -33.7% |
| Tangible fixed assets | 22/27 | €6,240 | €4,021 | -€2,218 | -35.6% |
| Plant, machinery and equipment | 23 | €5,839 | €3,806 | -€2,033 | -34.8% |
| Furniture and vehicles | 24 | €401 | €215 | -€185 | -46.2% |
| Financial fixed assets | 28 | €350 | €350 | = | 0.0% |
| Current assets | 29/58 | €49,256 | €52,414 | +€3,158 | +6.4% |
| Amounts receivable after more than one year | 29 | - | €22,636 | +€22,636 | |
| Other amounts receivable | 291 | - | €22,636 | +€22,636 | |
| Amounts receivable within one year | 40/41 | €43,098 | €20,222 | -€22,877 | -53.1% |
| Trade receivables | 40 | €31,611 | €20,222 | -€11,390 | -36.0% |
| Other amounts receivable | 41 | €11,487 | - | -€11,487 | |
| Cash at bank and in hand | 54/58 | €3,262 | €8,885 | +€5,623 | +172% |
| Deferred charges and accrued income | 490/1 | €2,896 | €672 | -€2,224 | -76.8% |
| Total equity and liabilities | 10/49 | €55,846 | €56,786 | +€940 | +1.7% |
| Equity | 10/15 | €47,816 | €49,796 | +€1,980 | +4.1% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €5,526 | €7,506 | +€1,980 | +35.8% |
| Distributable reserves | 133 | €5,526 | €7,506 | +€1,980 | +35.8% |
| Profit (loss) carried forward | 14 | €23,291 | €23,291 | = | 0.0% |
| Amounts payable | 17/49 | €8,030 | €6,989 | -€1,040 | -13.0% |
| Amounts payable within one year | 42/48 | €8,030 | €6,989 | -€1,040 | -13.0% |
| Trade debts | 44 | €1,891 | €3,190 | +€1,299 | +68.7% |
| Suppliers | 440/4 | €1,891 | €3,190 | +€1,299 | +68.7% |
| Advances received on contracts in progress | 46 | - | €3,799 | +€3,799 | |
| Taxes, remuneration and social security | 45 | €6,138 | - | -€6,138 | |
| Taxes | 450/3 | €6,138 | - | -€6,138 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,594 | €2,739 | -€1,855 | -40.4% |
| Other operating charges | 640/8 | €730 | €437 | -€293 | -40.1% |
| Non-recurring operating charges | 66A | - | €212 | +€212 | |
| Gross operating margin | 9900 | €14,391 | €8,965 | -€5,426 | -37.7% |
| Operating profit (loss) | 9901 | €9,067 | €5,576 | -€3,491 | -38.5% |
| Financial income | 75/76B | €557 | €627 | +€70 | +12.5% |
| Recurring financial income | 75 | €557 | €627 | +€70 | +12.5% |
| Financial charges | 65/66B | €373 | €886 | +€513 | +137% |
| Recurring financial charges | 65 | €373 | €886 | +€513 | +137% |
| Non-recurring financial charges | 66B | €373 | - | -€373 | |
| Profit (loss) for the period before taxes | 9903 | €9,251 | €5,317 | -€3,934 | -42.5% |
| Income taxes | 67/77 | €3,726 | €3,337 | -€389 | -10.4% |
| Profit (loss) for the period | 9904 | €5,526 | €1,980 | -€3,546 | -64.2% |
| Profit (loss) for the period to be appropriated | 9905 | €5,526 | €1,980 | -€3,546 | -64.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.