VT.BOTTON.S.: 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.
VT.BOTTON.S.
Largest movements
- Receivables within one year -€35,439
down €35,439 (-71.0%), from €49,944 to €14,505
of which Trade receivables: -€36,642
- Intangible fixed assets -€30,000
down €30,000 (-85.7%), from €35,000 to €5,000
- Cash +€22,145
up €22,145 (+90.3%), from €24,512 to €46,657
mainly Depreciation (+€66,054) and Receivables within one year (+€35,439)
- Tangible fixed assets -€20,980
down €20,980 (-13.9%), from €150,516 to €129,535
of which Furniture and vehicles: -€18,942
- Other debts -€22,250
down €22,250 (-41.6%), from €53,504 to €31,254
- Reserves -€21,948
down €21,948 (-14.2%), from €154,244 to €132,296
of which Non-distributable reserves: -€19,000
- Tax, wage and social debts -€10,874
down €10,874 (-56.2%), from €19,337 to €8,463
- Debts after one year -€5,163
down €5,163 (-53.4%), from €9,670 to €4,507
- Trade debts -€3,291
down €3,291 (-95.2%), from €3,457 to €167
- Gross operating margin -€44,323
down €44,323 (-36.3%), from €122,033 to €77,711
- Depreciation +€15,869
up €15,869 (+31.6%), from €50,185 to €66,054
- Taxes -€10,416
down €10,416 (-67.9%), from €15,337 to €4,921
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 | €261,228 | €197,003 | -€64,225 | -24.6% |
| Fixed assets | 21/28 | €185,516 | €134,535 | -€50,980 | -27.5% |
| Intangible fixed assets | 21 | €35,000 | €5,000 | -€30,000 | -85.7% |
| Tangible fixed assets | 22/27 | €150,516 | €129,535 | -€20,980 | -13.9% |
| Plant, machinery and equipment | 23 | €40,341 | €38,303 | -€2,038 | -5.1% |
| Furniture and vehicles | 24 | €110,175 | €91,233 | -€18,942 | -17.2% |
| Current assets | 29/58 | €75,712 | €62,467 | -€13,245 | -17.5% |
| Amounts receivable within one year | 40/41 | €49,944 | €14,505 | -€35,439 | -71.0% |
| Trade receivables | 40 | €41,067 | €4,425 | -€36,642 | -89.2% |
| Other amounts receivable | 41 | €8,877 | €10,080 | +€1,203 | +13.6% |
| Cash at bank and in hand | 54/58 | €24,512 | €46,657 | +€22,145 | +90.3% |
| Deferred charges and accrued income | 490/1 | €1,256 | €1,305 | +€49 | +3.9% |
| Total equity and liabilities | 10/49 | €261,228 | €197,003 | -€64,225 | -24.6% |
| Equity | 10/15 | €165,794 | €144,296 | -€21,498 | -13.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €154,244 | €132,296 | -€21,948 | -14.2% |
| Non-distributable reserves | 130/1 | €145,400 | €126,400 | -€19,000 | -13.1% |
| Reserves not available under the articles | 1311 | €145,400 | €1,000 | -€144,400 | -99.3% |
| Other | 1319 | - | €125,400 | +€125,400 | |
| Tax-exempt reserves | 132 | €8,844 | €5,896 | -€2,948 | -33.3% |
| Profit (loss) carried forward | 14 | €1,550 | €2,000 | +€450 | +29.0% |
| Provisions and deferred taxes | 16 | €4,556 | €3,037 | -€1,519 | -33.3% |
| Deferred taxes | 168 | €4,556 | €3,037 | -€1,519 | -33.3% |
| Amounts payable | 17/49 | €90,877 | €49,669 | -€41,208 | -45.3% |
| Amounts payable after more than one year | 17 | €9,670 | €4,507 | -€5,163 | -53.4% |
| Financial debts | 170/4 | €9,670 | €4,507 | -€5,163 | -53.4% |
| Amounts payable within one year | 42/48 | €81,207 | €45,162 | -€36,045 | -44.4% |
| Current portion of amounts payable after more than one year | 42 | €4,909 | €5,163 | +€255 | +5.2% |
| Trade debts | 44 | €3,457 | €167 | -€3,291 | -95.2% |
| Suppliers | 440/4 | €3,457 | €167 | -€3,291 | -95.2% |
| Advances received on contracts in progress | 46 | - | €115 | +€115 | |
| Taxes, remuneration and social security | 45 | €19,337 | €8,463 | -€10,874 | -56.2% |
| Taxes | 450/3 | €19,337 | €8,463 | -€10,874 | -56.2% |
| Other amounts payable | 47/48 | €53,504 | €31,254 | -€22,250 | -41.6% |
| Non-recurring operating income | 76A | €17,868 | - | -€17,868 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,185 | €66,054 | +€15,869 | +31.6% |
| Other operating charges | 640/8 | €3,854 | €3,788 | -€66 | -1.7% |
| Gross operating margin | 9900 | €122,033 | €77,711 | -€44,323 | -36.3% |
| Operating profit (loss) | 9901 | €67,995 | €7,869 | -€60,126 | -88.4% |
| Financial charges | 65/66B | €1,058 | €965 | -€94 | -8.8% |
| Recurring financial charges | 65 | €1,058 | €965 | -€94 | -8.8% |
| Profit (loss) for the period before taxes | 9903 | €66,936 | €6,904 | -€60,033 | -89.7% |
| Transfer from deferred taxes | 780 | €4,467 | €1,519 | -€2,948 | -66.0% |
| Transfer to deferred taxes | 680 | €6,075 | - | -€6,075 | |
| Income taxes | 67/77 | €15,337 | €4,921 | -€10,416 | -67.9% |
| Profit (loss) for the period | 9904 | €49,991 | €3,502 | -€46,489 | -93.0% |
| Transfer from tax-exempt reserves | 789 | - | €2,948 | +€2,948 | |
| Transfer to tax-exempt reserves | 689 | €11,793 | - | -€11,793 | |
| Profit (loss) for the period to be appropriated | 9905 | €38,198 | €6,450 | -€31,749 | -83.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.