VC@WORK: 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.
VC@WORK
Largest movements
- Current investments +€409,108
up €409,108 (+370%), from €110,479 to €519,586
- Cash -€212,941
down €212,941 (-86.1%), from €247,207 to €34,266
mainly Current investments (-€409,108) and Debts after one year (-€24,015)
- Deferred charges and accrued income +€10,106
new in 2024: €10,106
- Reserves +€185,654
up €185,654 (+65.6%), from €282,796 to €468,450
- Other debts +€27,389
up €27,389 (+258%), from €10,634 to €38,023
- Debts after one year -€24,015
down €24,015 (-100%), from €24,015 to €0
- Tax, wage and social debts +€20,328
up €20,328 (+31.5%), from €64,617 to €84,945
- Gross operating margin +€37,663
up €37,663 (+17.6%), from €213,804 to €251,468
- Taxes +€6,318
up €6,318 (+10.8%), from €58,244 to €64,562
- Financial income +€5,975
up €5,975, from €0 to €5,975
- Financial charges +€4,361
up €4,361 (+256%), from €1,704 to €6,065
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €399,024 | €606,674 | +€207,650 | +52.0% |
| Fixed assets | 21/28 | €1,032 | €2,689 | +€1,658 | +161% |
| Tangible fixed assets | 22/27 | €1,032 | €2,689 | +€1,658 | +161% |
| Furniture and vehicles | 24 | €1,032 | €2,689 | +€1,658 | +161% |
| Current assets | 29/58 | €397,992 | €603,985 | +€205,993 | +51.8% |
| Amounts receivable within one year | 40/41 | €40,306 | €40,027 | -€279 | -0.7% |
| Trade receivables | 40 | €40,306 | €40,027 | -€279 | -0.7% |
| Current investments | 50/53 | €110,479 | €519,586 | +€409,108 | +370% |
| Cash at bank and in hand | 54/58 | €247,207 | €34,266 | -€212,941 | -86.1% |
| Deferred charges and accrued income | 490/1 | - | €10,106 | +€10,106 | |
| Total equity and liabilities | 10/49 | €399,024 | €606,674 | +€207,650 | +52.0% |
| Equity | 10/15 | €297,796 | €483,450 | +€185,654 | +62.3% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €282,796 | €468,450 | +€185,654 | +65.6% |
| Distributable reserves | 133 | €282,796 | €468,450 | +€185,654 | +65.6% |
| Amounts payable | 17/49 | €101,228 | €123,224 | +€21,996 | +21.7% |
| Amounts payable after more than one year | 17 | €24,015 | €0 | -€24,015 | -100% |
| Financial debts | 170/4 | €24,015 | €0 | -€24,015 | -100% |
| Amounts payable within one year | 42/48 | €76,564 | €123,224 | +€46,660 | +60.9% |
| Trade debts | 44 | €1,313 | €256 | -€1,056 | -80.5% |
| Suppliers | 440/4 | €1,313 | €256 | -€1,056 | -80.5% |
| Taxes, remuneration and social security | 45 | €64,617 | €84,945 | +€20,328 | +31.5% |
| Taxes | 450/3 | €64,617 | €84,945 | +€20,328 | +31.5% |
| Other amounts payable | 47/48 | €10,634 | €38,023 | +€27,389 | +258% |
| Accrued charges and deferred income | 492/3 | €649 | €0 | -€649 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €774 | €1,099 | +€325 | +42.1% |
| Other operating charges | 640/8 | - | €63 | +€63 | |
| Gross operating margin | 9900 | €213,804 | €251,468 | +€37,663 | +17.6% |
| Operating profit (loss) | 9901 | €213,031 | €250,305 | +€37,275 | +17.5% |
| Financial income | 75/76B | €0 | €5,975 | +€5,975 | |
| Recurring financial income | 75 | €0 | €5,975 | +€5,975 | |
| Financial charges | 65/66B | €1,704 | €6,065 | +€4,361 | +256% |
| Recurring financial charges | 65 | €1,704 | €6,065 | +€4,361 | +256% |
| Profit (loss) for the period before taxes | 9903 | €211,327 | €250,216 | +€38,889 | +18.4% |
| Income taxes | 67/77 | €58,244 | €64,562 | +€6,318 | +10.8% |
| Profit (loss) for the period | 9904 | €153,083 | €185,654 | +€32,571 | +21.3% |
| Profit (loss) for the period to be appropriated | 9905 | €153,083 | €185,654 | +€32,571 | +21.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.