LB&O by VRO: 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.
LB&O by VRO
Largest movements
- Receivables within one year +€15,850
up €15,850 (+51.2%), from €30,947 to €46,797
of which Other amounts receivable: +€11,051
- Cash +€2,592
up €2,592 (+796%), from €326 to €2,917
mainly Net result for the year (+€24,379) and Other debts (+€10,622)
- Deferred charges and accrued income +€1,192
up €1,192 (+69.3%), from €1,719 to €2,911
- Other debts +€10,622
up €10,622 (+817%), from €1,300 to €11,922
- Trade debts +€6,369
up €6,369 (+215%), from €2,955 to €9,324
- Reserves +€4,745
up €4,745 (+24.2%), from €19,634 to €24,379
- Tax, wage and social debts -€2,103
down €2,103 (-26.0%), from €8,103 to €6,000
- Gross operating margin +€10,771
up €10,771 (+38.0%), from €28,348 to €39,118
- Taxes +€5,187
up €5,187 (+64.7%), from €8,015 to €13,202
- Financial charges -€562
down €562 (-15.6%), from €3,591 to €3,029
- Financial income +€548
up €548 (+48.2%), from €1,138 to €1,686
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 | €32,992 | €52,626 | +€19,633 | +59.5% |
| Current assets | 29/58 | €32,992 | €52,626 | +€19,633 | +59.5% |
| Amounts receivable within one year | 40/41 | €30,947 | €46,797 | +€15,850 | +51.2% |
| Trade receivables | 40 | €5,906 | €10,705 | +€4,799 | +81.3% |
| Other amounts receivable | 41 | €25,042 | €36,093 | +€11,051 | +44.1% |
| Cash at bank and in hand | 54/58 | €326 | €2,917 | +€2,592 | +796% |
| Deferred charges and accrued income | 490/1 | €1,719 | €2,911 | +€1,192 | +69.3% |
| Total equity and liabilities | 10/49 | €32,992 | €52,626 | +€19,633 | +59.5% |
| Equity | 10/15 | €20,634 | €25,379 | +€4,745 | +23.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €19,634 | €24,379 | +€4,745 | +24.2% |
| Distributable reserves | 133 | €19,634 | €24,379 | +€4,745 | +24.2% |
| Amounts payable | 17/49 | €12,358 | €27,246 | +€14,888 | +120% |
| Amounts payable within one year | 42/48 | €12,358 | €27,246 | +€14,888 | +120% |
| Trade debts | 44 | €2,955 | €9,324 | +€6,369 | +215% |
| Suppliers | 440/4 | €2,955 | €9,324 | +€6,369 | +215% |
| Taxes, remuneration and social security | 45 | €8,103 | €6,000 | -€2,103 | -26.0% |
| Taxes | 450/3 | €8,103 | €6,000 | -€2,103 | -26.0% |
| Other amounts payable | 47/48 | €1,300 | €11,922 | +€10,622 | +817% |
| Other operating charges | 640/8 | €191 | €193 | +€2 | +1.0% |
| Gross operating margin | 9900 | €28,348 | €39,118 | +€10,771 | +38.0% |
| Operating profit (loss) | 9901 | €28,157 | €38,925 | +€10,769 | +38.2% |
| Financial income | 75/76B | €1,138 | €1,686 | +€548 | +48.2% |
| Recurring financial income | 75 | €1,138 | €1,686 | +€548 | +48.2% |
| Financial charges | 65/66B | €3,591 | €3,029 | -€562 | -15.6% |
| Recurring financial charges | 65 | €3,591 | €3,029 | -€562 | -15.6% |
| Profit (loss) for the period before taxes | 9903 | €25,703 | €37,582 | +€11,878 | +46.2% |
| Income taxes | 67/77 | €8,015 | €13,202 | +€5,187 | +64.7% |
| Profit (loss) for the period | 9904 | €17,688 | €24,379 | +€6,691 | +37.8% |
| Profit (loss) for the period to be appropriated | 9905 | €17,688 | €24,379 | +€6,691 | +37.8% |
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 17 October 2026 via checked.be.