V-SOLUTIONS: what changed
V-SOLUTIONS
Largest movements
- Receivables within one year +€29,026
up €29,026 (+143%), from €20,338 to €49,364
of which Trade receivables: +€18,765
- Tangible fixed assets +€23,060
up €23,060 (+467%), from €4,933 to €27,992
of which Other tangible fixed assets: +€17,056
- Cash -€5,512
down €5,512 (-35.5%), from €15,507 to €9,995
mainly Receivables within one year (-€29,026) and Investment in fixed assets (net) (-€27,589)
- Reserves +€27,488
up €27,488 (+136%), from €20,178 to €47,666
- Debts after one year +€12,000
new in 2025: €12,000
- Tax, wage and social debts +€10,299
up €10,299 (+103%), from €10,043 to €20,343
of which Taxes: +€7,655
- Trade debts -€2,569
down €2,569 (-26.6%), from €9,643 to €7,074
- Other debts -€1,718
down €1,718 (-100%), from €1,718 to €0
- Gross operating margin +€8,250
up €8,250 (+25.7%), from €32,047 to €40,297
- Depreciation +€4,461
up €4,461 (+6,582%), from €68 to €4,529
- Taxes +€1,977
up €1,977 (+35.0%), from €5,643 to €7,619
- Other operating charges -€603
down €603 (-53.7%), from €1,123 to €520
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €44,082 | €89,883 | +€45,801 | +104% |
| Fixed assets | 21/28 | €4,933 | €27,992 | +€23,060 | +467% |
| Tangible fixed assets | 22/27 | €4,933 | €27,992 | +€23,060 | +467% |
| Furniture and vehicles | 24 | €4,933 | €10,936 | +€6,003 | +122% |
| Other tangible fixed assets | 26 | - | €17,056 | +€17,056 | |
| Current assets | 29/58 | €39,149 | €61,891 | +€22,742 | +58.1% |
| Amounts receivable within one year | 40/41 | €20,338 | €49,364 | +€29,026 | +143% |
| Trade receivables | 40 | €19,366 | €38,132 | +€18,765 | +96.9% |
| Other amounts receivable | 41 | €971 | €11,232 | +€10,261 | +1,056% |
| Cash at bank and in hand | 54/58 | €15,507 | €9,995 | -€5,512 | -35.5% |
| Deferred charges and accrued income | 490/1 | €3,304 | €2,531 | -€773 | -23.4% |
| Total equity and liabilities | 10/49 | €44,082 | €89,883 | +€45,801 | +104% |
| Equity | 10/15 | €22,678 | €50,166 | +€27,488 | +121% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €20,178 | €47,666 | +€27,488 | +136% |
| Distributable reserves | 133 | €20,178 | €47,666 | +€27,488 | +136% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €21,404 | €39,717 | +€18,313 | +85.6% |
| Amounts payable after more than one year | 17 | - | €12,000 | +€12,000 | |
| Financial debts | 170/4 | - | €12,000 | +€12,000 | |
| Amounts payable within one year | 42/48 | €21,404 | €27,417 | +€6,013 | +28.1% |
| Trade debts | 44 | €9,643 | €7,074 | -€2,569 | -26.6% |
| Suppliers | 440/4 | €9,643 | €7,074 | -€2,569 | -26.6% |
| Taxes, remuneration and social security | 45 | €10,043 | €20,343 | +€10,299 | +103% |
| Taxes | 450/3 | €10,043 | €17,699 | +€7,655 | +76.2% |
| Remuneration and social security | 454/9 | - | €2,644 | +€2,644 | |
| Other amounts payable | 47/48 | €1,718 | €0 | -€1,718 | -100% |
| Accrued charges and deferred income | 492/3 | - | €300 | +€300 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68 | €4,529 | +€4,461 | +6,582% |
| Other operating charges | 640/8 | €1,123 | €520 | -€603 | -53.7% |
| Gross operating margin | 9900 | €32,047 | €40,297 | +€8,250 | +25.7% |
| Operating profit (loss) | 9901 | €30,857 | €35,249 | +€4,392 | +14.2% |
| Financial income | 75/76B | €204 | €403 | +€199 | +97.2% |
| Recurring financial income | 75 | €204 | €403 | +€199 | +97.2% |
| Financial charges | 65/66B | €717 | €544 | -€173 | -24.2% |
| Recurring financial charges | 65 | €717 | €544 | -€173 | -24.2% |
| Profit (loss) for the period before taxes | 9903 | €30,344 | €35,108 | +€4,764 | +15.7% |
| Income taxes | 67/77 | €5,643 | €7,619 | +€1,977 | +35.0% |
| Profit (loss) for the period | 9904 | €24,702 | €27,488 | +€2,787 | +11.3% |
| Profit (loss) for the period to be appropriated | 9905 | €24,702 | €27,488 | +€2,787 | +11.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.