VV team: what changed
VV team
Largest movements
- Cash +€80,201
up €80,201 (+93.3%), from €85,988 to €166,189
mainly Net result for the year (+€101,264) and Depreciation (+€51,481)
- Tangible fixed assets -€51,481
down €51,481 (-7.7%), from €668,601 to €617,120
- Receivables within one year +€34,208
up €34,208 (+93.0%), from €36,774 to €70,982
of which Trade receivables: +€34,208
- Profit (loss) carried forward +€101,264
up €101,264 (+24.0%), from €421,263 to €522,527
- Trade debts -€20,991
down €20,991 (-76.9%), from €27,295 to €6,304
- Current portion of long-term debt -€13,371
down €13,371 (-42.1%), from €31,730 to €18,359
- Accrued charges and deferred income -€11,103
down €11,103 (-99.7%), from €11,140 to €37
- Tax, wage and social debts +€10,007
up €10,007 (+255%), from €3,918 to €13,925
- Gross operating margin +€22,787
up €22,787 (+11.2%), from €203,708 to €226,496
- Depreciation -€11,731
down €11,731 (-18.6%), from €63,212 to €51,481
- Taxes +€8,746
up €8,746 (+34.9%), from €25,040 to €33,785
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €791,409 | €854,312 | +€62,903 | +7.9% |
| Fixed assets | 21/28 | €668,601 | €617,120 | -€51,481 | -7.7% |
| Tangible fixed assets | 22/27 | €668,601 | €617,120 | -€51,481 | -7.7% |
| Land and buildings | 22 | €668,601 | €617,120 | -€51,481 | -7.7% |
| Current assets | 29/58 | €122,809 | €237,192 | +€114,384 | +93.1% |
| Amounts receivable within one year | 40/41 | €36,774 | €70,982 | +€34,208 | +93.0% |
| Trade receivables | 40 | €36,661 | €70,869 | +€34,208 | +93.3% |
| Other amounts receivable | 41 | €113 | €113 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €85,988 | €166,189 | +€80,201 | +93.3% |
| Deferred charges and accrued income | 490/1 | €47 | €22 | -€25 | -53.8% |
| Total equity and liabilities | 10/49 | €791,409 | €854,312 | +€62,903 | +7.9% |
| Equity | 10/15 | €548,179 | €649,443 | +€101,264 | +18.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €108,316 | €108,316 | = | 0.0% |
| Distributable reserves | 133 | €108,316 | €108,316 | = | 0.0% |
| Profit (loss) carried forward | 14 | €421,263 | €522,527 | +€101,264 | +24.0% |
| Amounts payable | 17/49 | €243,230 | €204,869 | -€38,361 | -15.8% |
| Amounts payable after more than one year | 17 | €27,291 | €17,358 | -€9,933 | -36.4% |
| Financial debts | 170/4 | €27,291 | €17,358 | -€9,933 | -36.4% |
| Amounts payable within one year | 42/48 | €204,799 | €187,474 | -€17,325 | -8.5% |
| Current portion of amounts payable after more than one year | 42 | €31,730 | €18,359 | -€13,371 | -42.1% |
| Trade debts | 44 | €27,295 | €6,304 | -€20,991 | -76.9% |
| Suppliers | 440/4 | €27,295 | €6,304 | -€20,991 | -76.9% |
| Taxes, remuneration and social security | 45 | €3,918 | €13,925 | +€10,007 | +255% |
| Taxes | 450/3 | €3,918 | €13,925 | +€10,007 | +255% |
| Other amounts payable | 47/48 | €141,855 | €148,886 | +€7,030 | +5.0% |
| Accrued charges and deferred income | 492/3 | €11,140 | €37 | -€11,103 | -99.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,212 | €51,481 | -€11,731 | -18.6% |
| Other operating charges | 640/8 | €27,338 | €27,931 | +€594 | +2.2% |
| Gross operating margin | 9900 | €203,708 | €226,496 | +€22,787 | +11.2% |
| Operating profit (loss) | 9901 | €113,158 | €147,083 | +€33,925 | +30.0% |
| Financial income | 75/76B | €509 | €300 | -€209 | -41.1% |
| Recurring financial income | 75 | €509 | €300 | -€209 | -41.1% |
| Financial charges | 65/66B | €13,509 | €12,334 | -€1,175 | -8.7% |
| Recurring financial charges | 65 | €13,509 | €12,334 | -€1,175 | -8.7% |
| Profit (loss) for the period before taxes | 9903 | €100,158 | €135,050 | +€34,892 | +34.8% |
| Income taxes | 67/77 | €25,040 | €33,785 | +€8,746 | +34.9% |
| Profit (loss) for the period | 9904 | €75,119 | €101,264 | +€26,146 | +34.8% |
| Profit (loss) for the period to be appropriated | 9905 | €75,119 | €101,264 | +€26,146 | +34.8% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.