Groep VD: 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 VD
Largest movements
- Stocks and contracts +€593,301
up €593,301 (+693%), from €85,647 to €678,949
- Receivables within one year -€141,127
down €141,127 (-47.5%), from €297,093 to €155,966
- Deferred charges and accrued income +€108,119
new in 2025: €108,119
- Other debts +€546,576
new in 2025: €546,576
- Gross operating margin +€18,500
up €18,500, from -€2,034 to €16,466
- Financial charges +€14,504
up €14,504 (+5,449%), from €266 to €14,770
- Financial income -€1,049
down €1,049 (-10.6%), from €9,867 to €8,819
- Taxes +€742
up €742 (+36.6%), from €2,028 to €2,769
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.
Derived cash bridge
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 | €403,498 | €960,350 | +€556,852 | +138% |
| Current assets | 29/58 | €403,498 | €960,350 | +€556,852 | +138% |
| Stocks and contracts in progress | 3 | €85,647 | €678,949 | +€593,301 | +693% |
| Stocks | 30/36 | €85,647 | €678,949 | +€593,301 | +693% |
| Amounts receivable within one year | 40/41 | €297,093 | €155,966 | -€141,127 | -47.5% |
| Other amounts receivable | 41 | €297,093 | €155,966 | -€141,127 | -47.5% |
| Cash at bank and in hand | 54/58 | €20,757 | €17,315 | -€3,442 | -16.6% |
| Deferred charges and accrued income | 490/1 | - | €108,119 | +€108,119 | |
| Total equity and liabilities | 10/49 | €403,498 | €960,350 | +€556,852 | +138% |
| Equity | 10/15 | €401,409 | €409,016 | +€7,608 | +1.9% |
| Contributions | 10/11 | €119,450 | €119,450 | = | 0.0% |
| Reserves | 13 | €281,959 | €289,566 | +€7,608 | +2.7% |
| Distributable reserves | 133 | €281,959 | €289,566 | +€7,608 | +2.7% |
| Amounts payable | 17/49 | €2,089 | €551,333 | +€549,244 | +26,288% |
| Amounts payable within one year | 42/48 | €2,089 | €551,333 | +€549,244 | +26,288% |
| Trade debts | 44 | €62 | €1,988 | +€1,926 | +3,121% |
| Suppliers | 440/4 | €62 | €1,988 | +€1,926 | +3,121% |
| Taxes, remuneration and social security | 45 | €2,028 | €2,769 | +€742 | +36.6% |
| Taxes | 450/3 | €2,028 | €2,769 | +€742 | +36.6% |
| Other amounts payable | 47/48 | - | €546,576 | +€546,576 | |
| Other operating charges | 640/8 | €126 | €137 | +€11 | +9.0% |
| Gross operating margin | 9900 | -€2,034 | €16,466 | +€18,500 | |
| Operating profit (loss) | 9901 | -€2,160 | €16,328 | +€18,489 | |
| Financial income | 75/76B | €9,867 | €8,819 | -€1,049 | -10.6% |
| Recurring financial income | 75 | €9,867 | €8,819 | -€1,049 | -10.6% |
| Financial charges | 65/66B | €266 | €14,770 | +€14,504 | +5,449% |
| Recurring financial charges | 65 | €266 | €14,770 | +€14,504 | +5,449% |
| Profit (loss) for the period before taxes | 9903 | €7,441 | €10,377 | +€2,936 | +39.5% |
| Income taxes | 67/77 | €2,028 | €2,769 | +€742 | +36.6% |
| Profit (loss) for the period | 9904 | €5,413 | €7,608 | +€2,195 | +40.5% |
| Profit (loss) for the period to be appropriated | 9905 | €5,413 | €7,608 | +€2,195 | +40.5% |
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 22 October 2026 via checked.be.