VSCI: what changed
Two fiscal 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.
VSCI
Largest movements
- Tangible fixed assets +€143,736
up €143,736 (+1350.8%), from €10,641 to €154,378
of which Land and buildings: +€145,162
- Receivables within one year +€27,629
up €27,629 (+323.2%), from €8,550 to €36,179
- Stocks and contracts +€18,151
up €18,151 (+177.1%), from €10,249 to €28,400
- Cash +€10,525
up €10,525 (+26.8%), from €39,240 to €49,765
mainly Debts after one year (+€176,429) and Other debts (+€18,953)
- Debts after one year +€176,429
up €176,429 (+31307.2%), from €564 to €176,992
- Other debts +€18,953
up €18,953 (+958.8%), from €1,977 to €20,929
- Current portion of long-term debt +€11,077
up €11,077 (+508.4%), from €2,179 to €13,255
- Trade debts +€9,570
up €9,570 (+141.3%), from €6,774 to €16,345
- Advances received -€7,650
no longer reported in 2025 (was €7,650)
- Gross operating margin -€19,550
down €19,550 (-37.8%), from €51,726 to €32,176
- Other operating charges +€16,734
up €16,734 (+3787.4%), from €442 to €17,176
- Taxes -€7,115
down €7,115 (-89.1%), from €7,982 to €866
- Financial charges +€4,859
up €4,859 (+324.3%), from €1,499 to €6,358
- Depreciation +€3,355
up €3,355 (+81.6%), from €4,109 to €7,464
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 | €70,000 | €271,417 | +€201,418 | +287.7% |
| Fixed assets | 21/28 | €10,641 | €154,378 | +€143,736 | +1350.8% |
| Tangible fixed assets | 22/27 | €10,641 | €154,378 | +€143,736 | +1350.8% |
| Land and buildings | 22 | - | €145,162 | +€145,162 | |
| Furniture and vehicles | 24 | €10,641 | €9,215 | -€1,426 | -13.4% |
| Current assets | 29/58 | €59,358 | €117,040 | +€57,681 | +97.2% |
| Stocks and contracts in progress | 3 | €10,249 | €28,400 | +€18,151 | +177.1% |
| Stocks | 30/36 | €10,249 | €28,400 | +€18,151 | +177.1% |
| Amounts receivable within one year | 40/41 | €8,550 | €36,179 | +€27,629 | +323.2% |
| Trade receivables | 40 | €8,550 | €36,179 | +€27,629 | +323.2% |
| Cash at bank and in hand | 54/58 | €39,240 | €49,765 | +€10,525 | +26.8% |
| Deferred charges and accrued income | 490/1 | €1,320 | €2,696 | +€1,376 | +104.2% |
| Total equity and liabilities | 10/49 | €70,000 | €271,417 | +€201,418 | +287.7% |
| Equity | 10/15 | €34,855 | €35,190 | +€335 | +1.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €29,855 | €30,190 | +€335 | +1.1% |
| Amounts payable | 17/49 | €35,145 | €236,227 | +€201,083 | +572.2% |
| Amounts payable after more than one year | 17 | €564 | €176,992 | +€176,429 | +31307.2% |
| Financial debts | 170/4 | €564 | €176,992 | +€176,429 | +31307.2% |
| Amounts payable within one year | 42/48 | €34,581 | €59,235 | +€24,654 | +71.3% |
| Current portion of amounts payable after more than one year | 42 | €2,179 | €13,255 | +€11,077 | +508.4% |
| Trade debts | 44 | €6,774 | €16,345 | +€9,570 | +141.3% |
| Suppliers | 440/4 | €6,774 | €16,345 | +€9,570 | +141.3% |
| Advances received on contracts in progress | 46 | €7,650 | - | -€7,650 | |
| Taxes, remuneration and social security | 45 | €16,001 | €8,706 | -€7,296 | -45.6% |
| Taxes | 450/3 | €16,001 | €8,706 | -€7,296 | -45.6% |
| Other amounts payable | 47/48 | €1,977 | €20,929 | +€18,953 | +958.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,109 | €7,464 | +€3,355 | +81.6% |
| Other operating charges | 640/8 | €442 | €17,176 | +€16,734 | +3787.4% |
| Non-recurring operating charges | 66A | €7,840 | - | -€7,840 | |
| Gross operating margin | 9900 | €51,726 | €32,176 | -€19,550 | -37.8% |
| Operating profit (loss) | 9901 | €39,335 | €7,536 | -€31,799 | -80.8% |
| Financial income | 75/76B | - | €23 | +€23 | |
| Recurring financial income | 75 | - | €23 | +€23 | |
| Financial charges | 65/66B | €1,499 | €6,358 | +€4,859 | +324.3% |
| Recurring financial charges | 65 | €1,499 | €6,358 | +€4,859 | +324.3% |
| Profit (loss) for the period before taxes | 9903 | €37,837 | €1,201 | -€36,636 | -96.8% |
| Income taxes | 67/77 | €7,982 | €866 | -€7,115 | -89.1% |
| Profit (loss) for the period | 9904 | €29,855 | €335 | -€29,520 | -98.9% |
| Profit (loss) for the period to be appropriated | 9905 | €29,855 | €335 | -€29,520 | -98.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.