VSV GROUP: 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.
VSV GROUP
Largest movements
- Cash -€2,048
down €2,048 (-34.8%), from €5,878 to €3,830
mainly Net result for the year (-€1,885) and Receivables within one year (-€300)
- Receivables within one year +€300
up €300 (+12.8%), from €2,354 to €2,654
of which Trade receivables: +€471
- Profit (loss) carried forward -€1,885
down €1,885 (-43.3%), from -€4,350 to -€6,235
- Tax, wage and social debts +€107
up €107, from €0 to €107
- Gross operating margin -€3,076
down €3,076, from €1,711 to -€1,366
- Depreciation -€48
down €48 (-100.0%), from €48 to €0
- Financial charges -€42
down €42 (-44.0%), from €96 to €54
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 | €10,585 | €8,902 | -€1,683 | -15.9% |
| Fixed assets | 21/28 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €10,585 | €8,902 | -€1,683 | -15.9% |
| Stocks and contracts in progress | 3 | €2,354 | €2,354 | = | 0.0% |
| Stocks | 30/36 | €2,354 | €2,354 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €2,354 | €2,654 | +€300 | +12.8% |
| Trade receivables | 40 | €2,182 | €2,654 | +€471 | +21.6% |
| Other amounts receivable | 41 | €171 | €0 | -€171 | -100.0% |
| Cash at bank and in hand | 54/58 | €5,878 | €3,830 | -€2,048 | -34.8% |
| Deferred charges and accrued income | 490/1 | €0 | €65 | +€65 | |
| Total equity and liabilities | 10/49 | €10,585 | €8,902 | -€1,683 | -15.9% |
| Equity | 10/15 | €9,540 | €7,655 | -€1,885 | -19.8% |
| Contributions | 10/11 | €13,890 | €13,890 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,350 | -€6,235 | -€1,885 | -43.3% |
| Amounts payable | 17/49 | €1,045 | €1,248 | +€202 | +19.4% |
| Amounts payable within one year | 42/48 | €1,045 | €1,248 | +€202 | +19.4% |
| Trade debts | 44 | €0 | €95 | +€95 | |
| Suppliers | 440/4 | €0 | €95 | +€95 | |
| Taxes, remuneration and social security | 45 | €0 | €107 | +€107 | |
| Taxes | 450/3 | €0 | €107 | +€107 | |
| Other amounts payable | 47/48 | €1,045 | €1,045 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48 | €0 | -€48 | -100.0% |
| Other operating charges | 640/8 | €451 | €465 | +€14 | +3.2% |
| Gross operating margin | 9900 | €1,711 | -€1,366 | -€3,076 | |
| Operating profit (loss) | 9901 | €1,211 | -€1,831 | -€3,042 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €96 | €54 | -€42 | -44.0% |
| Recurring financial charges | 65 | €96 | €54 | -€42 | -44.0% |
| Profit (loss) for the period before taxes | 9903 | €1,115 | -€1,885 | -€3,000 | |
| Profit (loss) for the period | 9904 | €1,115 | -€1,885 | -€3,000 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,115 | -€1,885 | -€3,000 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.