VVpaq: 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.
VVpaq
Largest movements
- Receivables after one year +€150,000
new in 2025: €150,000
- Cash -€34,181
down €34,181 (-14.6%), from €233,698 to €199,517
mainly Receivables after one year (-€150,000) and Contributions, distributions and other (-€110,000)
- Tangible fixed assets +€7,007
up €7,007 (+65.9%), from €10,627 to €17,634
of which Other tangible fixed assets: +€4,232
- Receivables within one year -€5,159
down €5,159 (-10.0%), from €51,718 to €46,560
of which Trade receivables: -€27,894
- Other debts +€109,833
up €109,833 (+65,954%), from €167 to €110,000
- Tax, wage and social debts +€5,898
up €5,898 (+35.6%), from €16,546 to €22,445
- Gross operating margin +€60,772
up €60,772 (+67.4%), from €90,193 to €150,964
- Taxes +€8,003
up €8,003 (+32.0%), from €24,981 to €32,984
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 | €298,240 | €416,132 | +€117,891 | +39.5% |
| Fixed assets | 21/28 | €10,627 | €17,634 | +€7,007 | +65.9% |
| Tangible fixed assets | 22/27 | €10,627 | €17,634 | +€7,007 | +65.9% |
| Plant, machinery and equipment | 23 | €1,512 | €1,749 | +€237 | +15.7% |
| Furniture and vehicles | 24 | €8,357 | €10,896 | +€2,539 | +30.4% |
| Other tangible fixed assets | 26 | €758 | €4,990 | +€4,232 | +558% |
| Current assets | 29/58 | €287,613 | €398,497 | +€110,884 | +38.6% |
| Amounts receivable after more than one year | 29 | - | €150,000 | +€150,000 | |
| Other amounts receivable | 291 | - | €150,000 | +€150,000 | |
| Amounts receivable within one year | 40/41 | €51,718 | €46,560 | -€5,159 | -10.0% |
| Trade receivables | 40 | €51,400 | €23,506 | -€27,894 | -54.3% |
| Other amounts receivable | 41 | €319 | €23,054 | +€22,735 | +7,136% |
| Cash at bank and in hand | 54/58 | €233,698 | €199,517 | -€34,181 | -14.6% |
| Deferred charges and accrued income | 490/1 | €2,196 | €2,421 | +€224 | +10.2% |
| Total equity and liabilities | 10/49 | €298,240 | €416,132 | +€117,891 | +39.5% |
| Equity | 10/15 | €278,452 | €278,521 | +€69 | 0.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €272,252 | €272,321 | +€69 | 0.0% |
| Distributable reserves | 133 | €272,252 | €272,321 | +€69 | 0.0% |
| Amounts payable | 17/49 | €19,789 | €137,611 | +€117,822 | +595% |
| Amounts payable within one year | 42/48 | €19,789 | €137,611 | +€117,822 | +595% |
| Trade debts | 44 | €3,076 | €5,166 | +€2,090 | +68.0% |
| Suppliers | 440/4 | €3,076 | €5,166 | +€2,090 | +68.0% |
| Taxes, remuneration and social security | 45 | €16,546 | €22,445 | +€5,898 | +35.6% |
| Taxes | 450/3 | €16,546 | €22,445 | +€5,898 | +35.6% |
| Other amounts payable | 47/48 | €167 | €110,000 | +€109,833 | +65,954% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,452 | €3,749 | +€1,296 | +52.9% |
| Other operating charges | 640/8 | €1,115 | €1,069 | -€46 | -4.1% |
| Gross operating margin | 9900 | €90,193 | €150,964 | +€60,772 | +67.4% |
| Operating profit (loss) | 9901 | €86,626 | €146,147 | +€59,521 | +68.7% |
| Financial income | 75/76B | €0 | €19 | +€19 | +94,100% |
| Recurring financial income | 75 | €0 | €19 | +€19 | +94,100% |
| Financial charges | 65/66B | €2,910 | €3,113 | +€202 | +6.9% |
| Recurring financial charges | 65 | €2,910 | €3,113 | +€202 | +6.9% |
| Profit (loss) for the period before taxes | 9903 | €83,715 | €143,053 | +€59,338 | +70.9% |
| Income taxes | 67/77 | €24,981 | €32,984 | +€8,003 | +32.0% |
| Profit (loss) for the period | 9904 | €58,734 | €110,069 | +€51,335 | +87.4% |
| Profit (loss) for the period to be appropriated | 9905 | €58,734 | €110,069 | +€51,335 | +87.4% |
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 31 October 2026 via checked.be.