GROEP VB: 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.
GROEP VB
Largest movements
- Receivables within one year -€664,048
down €664,048 (-43.6%), from €1.5m to €857,765
of which Trade receivables: -€661,093
- Cash +€277,190
up €277,190 (+150.7%), from €183,936 to €461,126
mainly Receivables within one year (+€664,048) and Depreciation (+€108,942)
- Tangible fixed assets -€108,942
down €108,942 (-8.4%), from €1.3m to €1.2m
of which Land and buildings: -€107,228
- Reserves -€424,299
down €424,299 (-12.5%), from €3.4m to €3.0m
of which Distributable reserves: -€402,115
- Debts after one year -€65,570
down €65,570 (-38.1%), from €171,965 to €106,395
- Gross operating margin -€503,724
down €503,724 (-68.3%), from €737,040 to €233,317
- Taxes -€171,832
down €171,832 (-90.1%), from €190,749 to €18,917
- Staff costs +€37,297
up €37,297 (+73.5%), from €50,720 to €88,017
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 | €3,818,106 | €3,323,715 | -€494,391 | -12.9% |
| Fixed assets | 21/28 | €2,112,358 | €2,003,416 | -€108,942 | -5.2% |
| Tangible fixed assets | 22/27 | €1,296,063 | €1,187,121 | -€108,942 | -8.4% |
| Land and buildings | 22 | €1,289,352 | €1,182,124 | -€107,228 | -8.3% |
| Plant, machinery and equipment | 23 | €6,711 | €4,997 | -€1,714 | -25.5% |
| Financial fixed assets | 28 | €816,295 | €816,295 | = | 0.0% |
| Current assets | 29/58 | €1,705,748 | €1,320,299 | -€385,449 | -22.6% |
| Amounts receivable within one year | 40/41 | €1,521,812 | €857,765 | -€664,048 | -43.6% |
| Trade receivables | 40 | €1,022,607 | €361,514 | -€661,093 | -64.6% |
| Other amounts receivable | 41 | €499,206 | €496,251 | -€2,955 | -0.6% |
| Cash at bank and in hand | 54/58 | €183,936 | €461,126 | +€277,190 | +150.7% |
| Deferred charges and accrued income | 490/1 | - | €1,409 | +€1,409 | |
| Total equity and liabilities | 10/49 | €3,818,106 | €3,323,715 | -€494,391 | -12.9% |
| Equity | 10/15 | €3,452,294 | €3,027,995 | -€424,299 | -12.3% |
| Contributions | 10/11 | €68,250 | €68,250 | = | 0.0% |
| Capital | 10 | €68,250 | €68,250 | = | 0.0% |
| Issued capital | 100 | €68,250 | €68,250 | = | 0.0% |
| Reserves | 13 | €3,384,044 | €2,959,745 | -€424,299 | -12.5% |
| Non-distributable reserves | 130/1 | €6,825 | €6,825 | = | 0.0% |
| Legal reserve | 130 | €6,825 | €6,825 | = | 0.0% |
| Tax-exempt reserves | 132 | €277,536 | €255,352 | -€22,184 | -8.0% |
| Distributable reserves | 133 | €3,099,683 | €2,697,568 | -€402,115 | -13.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €92,512 | €85,117 | -€7,395 | -8.0% |
| Deferred taxes | 168 | €92,512 | €85,117 | -€7,395 | -8.0% |
| Amounts payable | 17/49 | €273,300 | €210,603 | -€62,697 | -22.9% |
| Amounts payable after more than one year | 17 | €171,965 | €106,395 | -€65,570 | -38.1% |
| Financial debts | 170/4 | €171,965 | €106,395 | -€65,570 | -38.1% |
| Amounts payable within one year | 42/48 | €100,145 | €102,953 | +€2,808 | +2.8% |
| Current portion of amounts payable after more than one year | 42 | €65,570 | €65,570 | -€0 | 0.0% |
| Trade debts | 44 | €2,823 | €653 | -€2,169 | -76.9% |
| Suppliers | 440/4 | €2,823 | €653 | -€2,169 | -76.9% |
| Taxes, remuneration and social security | 45 | €21,376 | €28,092 | +€6,716 | +31.4% |
| Taxes | 450/3 | €9,356 | €11,360 | +€2,004 | +21.4% |
| Remuneration and social security | 454/9 | €12,020 | €16,732 | +€4,712 | +39.2% |
| Other amounts payable | 47/48 | €10,376 | €8,638 | -€1,738 | -16.7% |
| Accrued charges and deferred income | 492/3 | €1,190 | €1,254 | +€64 | +5.4% |
| Remuneration, social security and pensions | 62 | €50,720 | €88,017 | +€37,297 | +73.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €108,941 | €108,942 | +€1 | 0.0% |
| Other operating charges | 640/8 | €11,261 | €11,583 | +€322 | +2.9% |
| Gross operating margin | 9900 | €737,040 | €233,317 | -€503,724 | -68.3% |
| Operating profit (loss) | 9901 | €566,118 | €24,775 | -€541,343 | -95.6% |
| Financial income | 75/76B | €18,002 | €18,627 | +€625 | +3.5% |
| Recurring financial income | 75 | €18,002 | €18,627 | +€625 | +3.5% |
| Financial charges | 65/66B | €7,254 | €6,179 | -€1,075 | -14.8% |
| Recurring financial charges | 65 | €7,254 | €6,179 | -€1,075 | -14.8% |
| Profit (loss) for the period before taxes | 9903 | €576,867 | €37,223 | -€539,644 | -93.5% |
| Transfer from deferred taxes | 780 | €7,395 | €7,395 | +€0 | 0.0% |
| Income taxes | 67/77 | €190,749 | €18,917 | -€171,832 | -90.1% |
| Profit (loss) for the period | 9904 | €393,512 | €25,701 | -€367,811 | -93.5% |
| Transfer from tax-exempt reserves | 789 | €22,184 | €22,184 | +€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €415,696 | €47,885 | -€367,811 | -88.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.