VSF Records: 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.
VSF Records
Largest movements
- Receivables within one year -€6,395
down €6,395 (-23.7%), from €27,004 to €20,608
- Cash -€6,082
down €6,082 (-49.3%), from €12,329 to €6,248
mainly Net result for the year (-€40,400) and Tax, wage and social debts (-€3,491)
- Tangible fixed assets -€1,964
down €1,964 (-45.1%), from €4,355 to €2,390
of which Furniture and vehicles: -€1,667
- Deferred charges and accrued income -€1,736
down €1,736 (-7.3%), from €23,661 to €21,925
- Profit (loss) carried forward -€40,400
down €40,400 (-89.3%), from €45,251 to €4,850
- Other debts +€31,242
up €31,242 (+543.3%), from €5,751 to €36,992
- Tax, wage and social debts -€3,491
down €3,491 (-47.7%), from €7,318 to €3,827
of which Taxes: -€3,491
- Trade debts -€3,276
down €3,276 (-57.7%), from €5,674 to €2,398
- Financial charges +€38,058
up €38,058 (+2565.7%), from €1,483 to €39,541
- Gross operating margin -€14,039
down €14,039 (-84.5%), from €16,610 to €2,571
- Taxes -€3,715
down €3,715 (-93.3%), from €3,981 to €266
- Other operating charges -€1,049
down €1,049 (-47.8%), from €2,194 to €1,145
- Financial income +€290
up €290 (+170458.8%), from €0 to €290
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 | €67,349 | €51,171 | -€16,178 | -24.0% |
| Fixed assets | 21/28 | €4,355 | €2,390 | -€1,964 | -45.1% |
| Tangible fixed assets | 22/27 | €4,355 | €2,390 | -€1,964 | -45.1% |
| Plant, machinery and equipment | 23 | €934 | €636 | -€297 | -31.8% |
| Furniture and vehicles | 24 | €3,421 | €1,754 | -€1,667 | -48.7% |
| Current assets | 29/58 | €62,994 | €48,781 | -€14,213 | -22.6% |
| Amounts receivable within one year | 40/41 | €27,004 | €20,608 | -€6,395 | -23.7% |
| Trade receivables | 40 | €27,004 | €20,608 | -€6,395 | -23.7% |
| Cash at bank and in hand | 54/58 | €12,329 | €6,248 | -€6,082 | -49.3% |
| Deferred charges and accrued income | 490/1 | €23,661 | €21,925 | -€1,736 | -7.3% |
| Total equity and liabilities | 10/49 | €67,349 | €51,171 | -€16,178 | -24.0% |
| Equity | 10/15 | €47,751 | €7,350 | -€40,400 | -84.6% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €45,251 | €4,850 | -€40,400 | -89.3% |
| Amounts payable | 17/49 | €19,598 | €43,821 | +€24,223 | +123.6% |
| Amounts payable within one year | 42/48 | €18,743 | €43,218 | +€24,475 | +130.6% |
| Trade debts | 44 | €5,674 | €2,398 | -€3,276 | -57.7% |
| Suppliers | 440/4 | €5,674 | €2,398 | -€3,276 | -57.7% |
| Taxes, remuneration and social security | 45 | €7,318 | €3,827 | -€3,491 | -47.7% |
| Taxes | 450/3 | €7,318 | €3,827 | -€3,491 | -47.7% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €5,751 | €36,992 | +€31,242 | +543.3% |
| Accrued charges and deferred income | 492/3 | €855 | €603 | -€252 | -29.5% |
| Non-recurring operating income | 76A | €153 | €0 | -€153 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,111 | €2,308 | +€197 | +9.3% |
| Other operating charges | 640/8 | €2,194 | €1,145 | -€1,049 | -47.8% |
| Gross operating margin | 9900 | €16,610 | €2,571 | -€14,039 | -84.5% |
| Operating profit (loss) | 9901 | €12,304 | -€882 | -€13,187 | |
| Financial income | 75/76B | €0 | €290 | +€290 | +170458.8% |
| Recurring financial income | 75 | €0 | €290 | +€290 | +170458.8% |
| Financial charges | 65/66B | €1,483 | €39,541 | +€38,058 | +2565.7% |
| Recurring financial charges | 65 | €1,483 | €39,541 | +€38,058 | +2565.7% |
| Profit (loss) for the period before taxes | 9903 | €10,821 | -€40,134 | -€50,955 | |
| Income taxes | 67/77 | €3,981 | €266 | -€3,715 | -93.3% |
| Profit (loss) for the period | 9904 | €6,840 | -€40,400 | -€47,240 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,840 | -€40,400 | -€47,240 |
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 9 October 2026 via checked.be.