VV BUSINESS: 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.
VV BUSINESS
Largest movements
- Cash -€103,927
down €103,927 (-90.9%), from €114,349 to €10,422
mainly Short-term financial debts (-€116,859) and Current portion of long-term debt (-€47,387)
- Stocks and contracts -€40,434
down €40,434 (-10.7%), from €377,593 to €337,159
- Tangible fixed assets -€26,422
down €26,422 (-4.0%), from €655,288 to €628,867
of which Land and buildings: -€22,929
- Short-term financial debts -€116,859
down €116,859 (-100%), from €116,859 to €0
- Current portion of long-term debt -€47,387
down €47,387 (-17.3%), from €273,895 to €226,508
- Profit (loss) carried forward +€34,888
up €34,888 (+45.9%), from €76,087 to €110,975
- Debts after one year -€22,491
down €22,491 (-4.3%), from €526,680 to €504,189
of which Financial debts: -€22,491
- Tax, wage and social debts -€21,212
down €21,212 (-74.9%), from €28,328 to €7,115
of which Remuneration and social security: -€11,873
- Gross operating margin +€48,203
up €48,203 (+59.8%), from €80,607 to €128,810
- Staff costs -€24,857
down €24,857 (-64.1%), from €38,779 to €13,923
- Taxes +€16,955
new in 2025: €16,955
- Financial charges +€4,340
up €4,340 (+15.7%), from €27,570 to €31,910
- Depreciation -€1,793
down €1,793 (-6.2%), from €28,798 to €27,004
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 | €1,316,816 | €1,146,811 | -€170,005 | -12.9% |
| Fixed assets | 21/28 | €658,871 | €628,867 | -€30,004 | -4.6% |
| Intangible fixed assets | 21 | €583 | €0 | -€583 | -100% |
| Tangible fixed assets | 22/27 | €655,288 | €628,867 | -€26,422 | -4.0% |
| Land and buildings | 22 | €649,844 | €626,915 | -€22,929 | -3.5% |
| Furniture and vehicles | 24 | €3,832 | €1,112 | -€2,720 | -71.0% |
| Other tangible fixed assets | 26 | €1,613 | €840 | -€773 | -47.9% |
| Financial fixed assets | 28 | €3,000 | €0 | -€3,000 | -100% |
| Current assets | 29/58 | €657,945 | €517,944 | -€140,001 | -21.3% |
| Stocks and contracts in progress | 3 | €377,593 | €337,159 | -€40,434 | -10.7% |
| Stocks | 30/36 | €377,593 | €337,159 | -€40,434 | -10.7% |
| Amounts receivable within one year | 40/41 | €163,221 | €165,068 | +€1,848 | +1.1% |
| Trade receivables | 40 | €16,565 | €9,887 | -€6,678 | -40.3% |
| Other amounts receivable | 41 | €146,656 | €155,182 | +€8,526 | +5.8% |
| Cash at bank and in hand | 54/58 | €114,349 | €10,422 | -€103,927 | -90.9% |
| Deferred charges and accrued income | 490/1 | €2,783 | €5,296 | +€2,513 | +90.3% |
| Total equity and liabilities | 10/49 | €1,316,816 | €1,146,811 | -€170,005 | -12.9% |
| Equity | 10/15 | €126,087 | €160,975 | +€34,888 | +27.7% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €76,087 | €110,975 | +€34,888 | +45.9% |
| Amounts payable | 17/49 | €1,190,729 | €985,836 | -€204,893 | -17.2% |
| Amounts payable after more than one year | 17 | €526,680 | €504,189 | -€22,491 | -4.3% |
| Financial debts | 170/4 | €520,330 | €497,839 | -€22,491 | -4.3% |
| Other amounts payable | 178/9 | €6,350 | €6,350 | = | 0.0% |
| Amounts payable within one year | 42/48 | €660,625 | €480,397 | -€180,228 | -27.3% |
| Current portion of amounts payable after more than one year | 42 | €273,895 | €226,508 | -€47,387 | -17.3% |
| Financial debts | 43 | €116,859 | €0 | -€116,859 | -100% |
| Credit institutions | 430/8 | €116,859 | €0 | -€116,859 | -100% |
| Trade debts | 44 | €31,428 | €19,843 | -€11,585 | -36.9% |
| Suppliers | 440/4 | €31,428 | €19,843 | -€11,585 | -36.9% |
| Advances received on contracts in progress | 46 | - | €0 | = | |
| Taxes, remuneration and social security | 45 | €28,328 | €7,115 | -€21,212 | -74.9% |
| Taxes | 450/3 | €16,455 | €7,115 | -€9,340 | -56.8% |
| Remuneration and social security | 454/9 | €11,873 | €0 | -€11,873 | -100% |
| Other amounts payable | 47/48 | €210,115 | €226,931 | +€16,816 | +8.0% |
| Accrued charges and deferred income | 492/3 | €3,424 | €1,250 | -€2,174 | -63.5% |
| Remuneration, social security and pensions | 62 | €38,779 | €13,923 | -€24,857 | -64.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,798 | €27,004 | -€1,793 | -6.2% |
| Other operating charges | 640/8 | €3,641 | €4,446 | +€805 | +22.1% |
| Gross operating margin | 9900 | €80,607 | €128,810 | +€48,203 | +59.8% |
| Operating profit (loss) | 9901 | €9,389 | €83,437 | +€74,048 | +789% |
| Financial income | 75/76B | €180 | €316 | +€136 | +75.3% |
| Recurring financial income | 75 | €180 | €316 | +€136 | +75.3% |
| Financial charges | 65/66B | €27,570 | €31,910 | +€4,340 | +15.7% |
| Recurring financial charges | 65 | €27,570 | €31,910 | +€4,340 | +15.7% |
| Profit (loss) for the period before taxes | 9903 | -€18,001 | €51,843 | +€69,844 | |
| Income taxes | 67/77 | - | €16,955 | +€16,955 | |
| Profit (loss) for the period | 9904 | -€18,001 | €34,888 | +€52,889 | |
| Profit (loss) for the period to be appropriated | 9905 | -€18,001 | €34,888 | +€52,889 |
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 23 October 2026 via checked.be.