VVS: 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.
VVS
Largest movements
- Cash +€41,673
up €41,673 (+288.4%), from €14,448 to €56,121
mainly Net result for the year (+€30,581) and Depreciation (+€20,075)
- Tangible fixed assets -€20,075
down €20,075 (-6.4%), from €315,914 to €295,839
of which Furniture and vehicles: -€13,471
- Reserves +€30,581
up €30,581 (+18.4%), from €166,022 to €196,603
- Debts after one year -€10,281
down €10,281 (-9.4%), from €109,268 to €98,987
- Trade debts +€4,136
up €4,136 (+470.4%), from €879 to €5,015
- Gross operating margin -€15,685
down €15,685 (-17.4%), from €90,322 to €74,637
- Depreciation +€8,577
up €8,577 (+74.6%), from €11,498 to €20,075
- Taxes -€7,173
down €7,173 (-32.6%), from €21,987 to €14,814
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 | €353,528 | €380,707 | +€27,179 | +7.7% |
| Fixed assets | 21/28 | €315,914 | €295,839 | -€20,075 | -6.4% |
| Tangible fixed assets | 22/27 | €315,914 | €295,839 | -€20,075 | -6.4% |
| Land and buildings | 22 | €258,194 | €251,589 | -€6,605 | -2.6% |
| Furniture and vehicles | 24 | €57,721 | €44,250 | -€13,471 | -23.3% |
| Current assets | 29/58 | €37,614 | €84,868 | +€47,254 | +125.6% |
| Stocks and contracts in progress | 3 | €2,642 | €2,357 | -€285 | -10.8% |
| Stocks | 30/36 | €2,642 | €2,357 | -€285 | -10.8% |
| Amounts receivable within one year | 40/41 | €20,524 | €23,835 | +€3,311 | +16.1% |
| Trade receivables | 40 | €14,897 | €23,649 | +€8,752 | +58.8% |
| Other amounts receivable | 41 | €5,628 | €186 | -€5,441 | -96.7% |
| Cash at bank and in hand | 54/58 | €14,448 | €56,121 | +€41,673 | +288.4% |
| Deferred charges and accrued income | 490/1 | - | €2,555 | +€2,555 | |
| Total equity and liabilities | 10/49 | €353,528 | €380,707 | +€27,179 | +7.7% |
| Equity | 10/15 | €169,022 | €199,603 | +€30,581 | +18.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €166,022 | €196,603 | +€30,581 | +18.4% |
| Distributable reserves | 133 | €166,022 | €196,603 | +€30,581 | +18.4% |
| Amounts payable | 17/49 | €184,506 | €181,104 | -€3,402 | -1.8% |
| Amounts payable after more than one year | 17 | €109,268 | €98,987 | -€10,281 | -9.4% |
| Financial debts | 170/4 | €109,268 | €98,987 | -€10,281 | -9.4% |
| Amounts payable within one year | 42/48 | €73,914 | €80,130 | +€6,216 | +8.4% |
| Current portion of amounts payable after more than one year | 42 | €9,823 | €10,281 | +€458 | +4.7% |
| Trade debts | 44 | €879 | €5,015 | +€4,136 | +470.4% |
| Suppliers | 440/4 | €879 | €5,015 | +€4,136 | +470.4% |
| Taxes, remuneration and social security | 45 | €6,987 | €7,213 | +€226 | +3.2% |
| Taxes | 450/3 | €6,987 | €7,213 | +€226 | +3.2% |
| Other amounts payable | 47/48 | €56,225 | €57,621 | +€1,397 | +2.5% |
| Accrued charges and deferred income | 492/3 | €1,324 | €1,987 | +€663 | +50.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,498 | €20,075 | +€8,577 | +74.6% |
| Other operating charges | 640/8 | €4,485 | €3,734 | -€751 | -16.8% |
| Gross operating margin | 9900 | €90,322 | €74,637 | -€15,685 | -17.4% |
| Operating profit (loss) | 9901 | €74,339 | €50,828 | -€23,511 | -31.6% |
| Financial income | 75/76B | €56 | €15 | -€41 | -73.1% |
| Recurring financial income | 75 | €56 | €15 | -€41 | -73.1% |
| Financial charges | 65/66B | €5,875 | €5,448 | -€427 | -7.3% |
| Recurring financial charges | 65 | €5,875 | €5,448 | -€427 | -7.3% |
| Profit (loss) for the period before taxes | 9903 | €68,520 | €45,395 | -€23,126 | -33.8% |
| Income taxes | 67/77 | €21,987 | €14,814 | -€7,173 | -32.6% |
| Profit (loss) for the period | 9904 | €46,533 | €30,581 | -€15,953 | -34.3% |
| Profit (loss) for the period to be appropriated | 9905 | €46,533 | €30,581 | -€15,953 | -34.3% |
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 8 October 2026 via checked.be.