VXT Management: 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.
VXT Management
Largest movements
- Cash -€23,594
down €23,594 (-57.5%), from €41,055 to €17,461
mainly Net result for the year (-€32,406) and Debts after one year (-€10,915)
- Tangible fixed assets -€15,093
down €15,093 (-40.0%), from €37,772 to €22,678
- Receivables within one year -€3,023
down €3,023 (-20.5%), from €14,756 to €11,734
of which Trade receivables: -€2,671
- Profit (loss) carried forward -€32,406
down €32,406, from €22,533 to -€9,873
- Debts after one year -€10,915
down €10,915 (-35.7%), from €30,550 to €19,636
- Other debts +€5,081
up €5,081 (+3005.7%), from €169 to €5,250
- Tax, wage and social debts -€4,063
down €4,063 (-20.9%), from €19,417 to €15,355
of which Remuneration and social security: -€3,287
- Trade debts +€1,330
up €1,330 (+19.7%), from €6,744 to €8,073
- Gross operating margin -€79,840
down €79,840, from €65,935 to -€13,905
- Taxes -€8,588
down €8,588 (-98.2%), from €8,744 to €156
- Depreciation -€8,371
down €8,371 (-35.7%), from €23,464 to €15,093
- Other operating charges -€5,830
down €5,830 (-90.3%), from €6,457 to €627
- Financial charges -€2,103
down €2,103 (-44.4%), from €4,736 to €2,633
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 | €94,944 | €53,470 | -€41,474 | -43.7% |
| Fixed assets | 21/28 | €38,172 | €23,078 | -€15,093 | -39.5% |
| Tangible fixed assets | 22/27 | €37,772 | €22,678 | -€15,093 | -40.0% |
| Furniture and vehicles | 24 | €37,772 | €22,678 | -€15,093 | -40.0% |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €56,772 | €30,391 | -€26,380 | -46.5% |
| Amounts receivable within one year | 40/41 | €14,756 | €11,734 | -€3,023 | -20.5% |
| Trade receivables | 40 | €14,405 | €11,734 | -€2,671 | -18.5% |
| Other amounts receivable | 41 | €352 | - | -€352 | |
| Cash at bank and in hand | 54/58 | €41,055 | €17,461 | -€23,594 | -57.5% |
| Deferred charges and accrued income | 490/1 | €960 | €1,196 | +€236 | +24.6% |
| Total equity and liabilities | 10/49 | €94,944 | €53,470 | -€41,474 | -43.7% |
| Equity | 10/15 | €27,533 | -€4,873 | -€32,406 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €22,533 | -€9,873 | -€32,406 | |
| Amounts payable | 17/49 | €67,410 | €58,343 | -€9,067 | -13.5% |
| Amounts payable after more than one year | 17 | €30,550 | €19,636 | -€10,915 | -35.7% |
| Financial debts | 170/4 | €30,550 | €19,636 | -€10,915 | -35.7% |
| Amounts payable within one year | 42/48 | €36,638 | €38,707 | +€2,069 | +5.6% |
| Current portion of amounts payable after more than one year | 42 | €10,308 | €10,029 | -€280 | -2.7% |
| Trade debts | 44 | €6,744 | €8,073 | +€1,330 | +19.7% |
| Suppliers | 440/4 | €6,744 | €8,073 | +€1,330 | +19.7% |
| Taxes, remuneration and social security | 45 | €19,417 | €15,355 | -€4,063 | -20.9% |
| Taxes | 450/3 | €16,130 | €15,355 | -€775 | -4.8% |
| Remuneration and social security | 454/9 | €3,287 | - | -€3,287 | |
| Other amounts payable | 47/48 | €169 | €5,250 | +€5,081 | +3005.7% |
| Accrued charges and deferred income | 492/3 | €221 | - | -€221 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,464 | €15,093 | -€8,371 | -35.7% |
| Other operating charges | 640/8 | €6,457 | €627 | -€5,830 | -90.3% |
| Gross operating margin | 9900 | €65,935 | -€13,905 | -€79,840 | |
| Operating profit (loss) | 9901 | €36,014 | -€29,626 | -€65,640 | |
| Financial income | 75/76B | - | €9 | +€9 | |
| Recurring financial income | 75 | - | €9 | +€9 | |
| Financial charges | 65/66B | €4,736 | €2,633 | -€2,103 | -44.4% |
| Recurring financial charges | 65 | €4,736 | €2,633 | -€2,103 | -44.4% |
| Profit (loss) for the period before taxes | 9903 | €31,278 | -€32,250 | -€63,528 | |
| Income taxes | 67/77 | €8,744 | €156 | -€8,588 | -98.2% |
| Profit (loss) for the period | 9904 | €22,533 | -€32,406 | -€54,940 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,533 | -€32,406 | -€54,940 |
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 10 October 2026 via checked.be.