VVV CAPITAL: 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.
What changed
VVV CAPITAL
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€332,383
2024 · €290,129+€42,254
Equity
€2.5m
2024 · €2.2m+€332,383
Cash
€208,596
2024 · €236,500-€27,904
Balance sheet total
€8.3m
2024 · €8.2m+€141,728
Largest movements
Assets
- Current investments +€200,000
up €200,000 (+25.0%), from €800,000 to €1.0m
Equity and liabilities
- Reserves +€325,000
up €325,000 (+17.6%), from €1.9m to €2.2m
- Debts after one year -€216,381
down €216,381 (-4.5%), from €4.8m to €4.6m
- Trade debts -€135,291
down €135,291 (-55.4%), from €244,089 to €108,799
Income statement
- Turnover -€1.9m
no longer reported in 2025 (was €1.9m)
- Gross operating margin +€104,413
up €104,413 (+11.4%), from €913,543 to €1.0m
- Financial charges +€40,226
up €40,226 (+17.3%), from €232,580 to €272,806
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.
Result 2024
€290,129
Gross operating margin
+€104,413
Staff costs
+€10,192
Depreciation
-€9,889
Other operating charges
+€2,195
Other operating items
+€20
Financial income
-€13,260
Financial charges
-€40,226
Taxes
-€11,192
Result 2025
€332,383
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€487,882
Investment
-€408,229
Financing
-€107,557
Cash 2024
€236,500
From operations (derived)
+€487,882
Net result for the year
+€332,383
Depreciation
+€238,832
Smaller working-capital items
-€235
Trade debts
-€135,291
Tax, wage and social debts
+€59,931
Other debts
+€65,321
Accrued charges and deferred income
-€73,059
Investment (derived)
-€408,229
Investment in fixed assets (net)
-€208,229
Current investments
-€200,000
Financing
-€107,557
Debts after one year
-€216,381
Current portion of long-term debt
+€48,824
Short-term financial debts
+€60,000
Cash 2025
€208,596
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,200,467 | €8,342,195 | +€141,728 | +1.7% |
| Fixed assets | 21/28 | €7,161,164 | €7,130,560 | -€30,603 | -0.4% |
| Tangible fixed assets | 22/27 | €7,160,984 | €7,130,380 | -€30,603 | -0.4% |
| Land and buildings | 22 | €7,160,984 | €7,120,375 | -€40,609 | -0.6% |
| Plant, machinery and equipment | 23 | - | €10,006 | +€10,006 | |
| Financial fixed assets | 28 | €180 | €180 | = | 0.0% |
| Current assets | 29/58 | €1,039,303 | €1,211,634 | +€172,331 | +16.6% |
| Amounts receivable within one year | 40/41 | - | €313 | +€313 | |
| Trade receivables | 40 | - | €286 | +€286 | |
| Other amounts receivable | 41 | - | €27 | +€27 | |
| Current investments | 50/53 | €800,000 | €1,000,000 | +€200,000 | +25.0% |
| Cash at bank and in hand | 54/58 | €236,500 | €208,596 | -€27,904 | -11.8% |
| Deferred charges and accrued income | 490/1 | €2,804 | €2,726 | -€78 | -2.8% |
| Total equity and liabilities | 10/49 | €8,200,467 | €8,342,195 | +€141,728 | +1.7% |
| Equity | 10/15 | €2,150,158 | €2,482,541 | +€332,383 | +15.5% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €1,850,000 | €2,175,000 | +€325,000 | +17.6% |
| Distributable reserves | 133 | €1,850,000 | €2,175,000 | +€325,000 | +17.6% |
| Profit (loss) carried forward | 14 | €158 | €7,541 | +€7,383 | +4,675% |
| Amounts payable | 17/49 | €6,050,309 | €5,859,654 | -€190,655 | -3.2% |
| Amounts payable after more than one year | 17 | €4,820,681 | €4,604,300 | -€216,381 | -4.5% |
| Financial debts | 170/4 | €4,820,681 | €4,604,300 | -€216,381 | -4.5% |
| Amounts payable within one year | 42/48 | €1,146,829 | €1,245,615 | +€98,785 | +8.6% |
| Current portion of amounts payable after more than one year | 42 | €469,997 | €518,821 | +€48,824 | +10.4% |
| Financial debts | 43 | - | €60,000 | +€60,000 | |
| Credit institutions | 430/8 | - | €60,000 | +€60,000 | |
| Trade debts | 44 | €244,089 | €108,799 | -€135,291 | -55.4% |
| Suppliers | 440/4 | €244,089 | €108,799 | -€135,291 | -55.4% |
| Taxes, remuneration and social security | 45 | €126,937 | €186,868 | +€59,931 | +47.2% |
| Taxes | 450/3 | €123,649 | €186,868 | +€63,219 | +51.1% |
| Remuneration and social security | 454/9 | €3,288 | - | -€3,288 | |
| Other amounts payable | 47/48 | €305,806 | €371,127 | +€65,321 | +21.4% |
| Accrued charges and deferred income | 492/3 | €82,798 | €9,739 | -€73,059 | -88.2% |
| Turnover | 70 | €1,921,367 | - | -€1.9m | |
| Remuneration, social security and pensions | 62 | €23,391 | €13,199 | -€10,192 | -43.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €228,943 | €238,832 | +€9,889 | +4.3% |
| Other operating charges | 640/8 | €44,563 | €42,368 | -€2,195 | -4.9% |
| Non-recurring operating charges | 66A | €126 | €106 | -€20 | -16.0% |
| Gross operating margin | 9900 | €913,543 | €1,017,956 | +€104,413 | +11.4% |
| Operating profit (loss) | 9901 | €616,519 | €723,451 | +€106,932 | +17.3% |
| Financial income | 75/76B | €26,652 | €13,392 | -€13,260 | -49.8% |
| Recurring financial income | 75 | €26,652 | €13,392 | -€13,260 | -49.8% |
| Financial charges | 65/66B | €232,580 | €272,806 | +€40,226 | +17.3% |
| Recurring financial charges | 65 | €232,580 | €272,806 | +€40,226 | +17.3% |
| Profit (loss) for the period before taxes | 9903 | €410,592 | €464,038 | +€53,446 | +13.0% |
| Income taxes | 67/77 | €120,463 | €131,655 | +€11,192 | +9.3% |
| Profit (loss) for the period | 9904 | €290,129 | €332,383 | +€42,254 | +14.6% |
| Profit (loss) for the period to be appropriated | 9905 | €290,129 | €332,383 | +€42,254 | +14.6% |
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 14 October 2026 via checked.be.