VY-PROJECTS: 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.
VY-PROJECTS
Largest movements
- Stocks and contracts +€1.7m
up €1.7m (+33.1%), from €5.3m to €7.0m
- Other debts +€1.9m
up €1.9m (+24.8%), from €7.6m to €9.5m
- Reserves -€1.0m
down €1.0m (-99.4%), from €1.0m to €6,047
of which Distributable reserves: -€1.0m
- Profit (loss) carried forward +€754,917
up €754,917, from -€668,217 to €86,700
- Purchases and services -€873,472
no longer reported in 2025 (was €873,472)
- Gross operating margin +€481,846
up €481,846, from -€411,019 to €70,828
- Turnover -€451,611
no longer reported in 2025 (was €451,611)
- Financial charges +€63,549
up €63,549 (+34.2%), from €185,581 to €249,130
- Financial income -€15,241
down €15,241 (-35.8%), from €42,582 to €27,340
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 | €8,093,028 | €9,773,356 | +€1.7m | +20.8% |
| Fixed assets | 21/28 | €2,719,961 | €2,634,904 | -€85,057 | -3.1% |
| Tangible fixed assets | 22/27 | €2,708,843 | €2,623,786 | -€85,057 | -3.1% |
| Land and buildings | 22 | €2,708,641 | €2,622,454 | -€86,187 | -3.2% |
| Furniture and vehicles | 24 | €202 | €1,332 | +€1,130 | +559.0% |
| Financial fixed assets | 28 | €11,118 | €11,118 | = | 0.0% |
| Current assets | 29/58 | €5,373,067 | €7,138,452 | +€1.8m | +32.9% |
| Stocks and contracts in progress | 3 | €5,260,488 | €7,002,520 | +€1.7m | +33.1% |
| Stocks | 30/36 | €5,260,488 | €7,002,520 | +€1.7m | +33.1% |
| Amounts receivable within one year | 40/41 | €51,700 | €95,414 | +€43,714 | +84.6% |
| Trade receivables | 40 | €10,830 | €0 | -€10,830 | -100.0% |
| Other amounts receivable | 41 | €40,870 | €95,414 | +€54,544 | +133.5% |
| Cash at bank and in hand | 54/58 | €60,879 | €40,517 | -€20,362 | -33.4% |
| Total equity and liabilities | 10/49 | €8,093,028 | €9,773,356 | +€1.7m | +20.8% |
| Equity | 10/15 | €361,128 | €111,347 | -€249,781 | -69.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | - | -€18,600 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €1,010,744 | €6,047 | -€1.0m | -99.4% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Legal reserve | 130 | €1,860 | - | -€1,860 | |
| Tax-exempt reserves | 132 | €6,047 | €6,047 | = | 0.0% |
| Distributable reserves | 133 | €1,002,837 | €0 | -€1.0m | -100.0% |
| Profit (loss) carried forward | 14 | -€668,217 | €86,700 | +€754,917 | |
| Amounts payable | 17/49 | €7,731,900 | €9,662,008 | +€1.9m | +25.0% |
| Amounts payable within one year | 42/48 | €7,731,900 | €9,662,008 | +€1.9m | +25.0% |
| Trade debts | 44 | €111,737 | €150,765 | +€39,028 | +34.9% |
| Suppliers | 440/4 | €111,737 | €150,765 | +€39,028 | +34.9% |
| Other amounts payable | 47/48 | €7,620,162 | €9,511,243 | +€1.9m | +24.8% |
| Turnover | 70 | €451,611 | - | -€451,611 | |
| Non-recurring operating income | 76A | €605 | €0 | -€605 | -100.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €873,472 | - | -€873,472 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €86,410 | €86,899 | +€489 | +0.6% |
| Other operating charges | 640/8 | €16,630 | €11,920 | -€4,710 | -28.3% |
| Gross operating margin | 9900 | -€411,019 | €70,828 | +€481,846 | |
| Operating profit (loss) | 9901 | -€514,058 | -€27,991 | +€486,067 | +94.6% |
| Financial income | 75/76B | €42,582 | €27,340 | -€15,241 | -35.8% |
| Recurring financial income | 75 | €42,582 | €27,340 | -€15,241 | -35.8% |
| Financial charges | 65/66B | €185,581 | €249,130 | +€63,549 | +34.2% |
| Recurring financial charges | 65 | €185,581 | €249,130 | +€63,549 | +34.2% |
| Profit (loss) for the period before taxes | 9903 | -€657,057 | -€249,781 | +€407,277 | +62.0% |
| Income taxes | 67/77 | €11,159 | €0 | -€11,159 | -100.0% |
| Profit (loss) for the period | 9904 | -€668,217 | -€249,781 | +€418,436 | +62.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€668,217 | -€249,781 | +€418,436 | +62.6% |
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 11 October 2026 via checked.be.