V&B: 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.
V&B
Largest movements
- Receivables within one year +€43,982
up €43,982 (+23.8%), from €184,632 to €228,615
of which Other amounts receivable: +€35,499
- Tangible fixed assets -€8,825
down €8,825 (-31.7%), from €27,875 to €19,050
of which Furniture and vehicles: -€6,440
- Reserves +€28,639
up €28,639 (+34.6%), from €82,850 to €111,489
of which Distributable reserves: +€28,639
- Tax, wage and social debts +€17,965
up €17,965 (+45.6%), from €39,419 to €57,384
- Debts after one year -€10,381
down €10,381 (-25.6%), from €40,548 to €30,167
- Gross operating margin +€23,796
up €23,796 (+45.8%), from €51,902 to €75,697
- Financial charges +€12,767
up €12,767 (+114.9%), from €11,108 to €23,875
of which Non-recurring financial charges: +€13,310
- Taxes +€8,502
up €8,502 (+72.1%), from €11,795 to €20,297
- Depreciation -€5,682
down €5,682 (-39.2%), from €14,507 to €8,825
- Other operating charges +€2,556
up €2,556 (+731.6%), from €349 to €2,905
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 | €212,508 | €247,857 | +€35,350 | +16.6% |
| Fixed assets | 21/28 | €27,875 | €19,050 | -€8,825 | -31.7% |
| Tangible fixed assets | 22/27 | €27,875 | €19,050 | -€8,825 | -31.7% |
| Plant, machinery and equipment | 23 | €2,385 | - | -€2,385 | |
| Furniture and vehicles | 24 | €25,490 | €19,050 | -€6,440 | -25.3% |
| Current assets | 29/58 | €184,632 | €228,807 | +€44,174 | +23.9% |
| Amounts receivable within one year | 40/41 | €184,632 | €228,615 | +€43,982 | +23.8% |
| Trade receivables | 40 | €36,135 | €44,618 | +€8,483 | +23.5% |
| Other amounts receivable | 41 | €148,497 | €183,997 | +€35,499 | +23.9% |
| Cash at bank and in hand | 54/58 | - | €192 | +€192 | |
| Total equity and liabilities | 10/49 | €212,508 | €247,857 | +€35,350 | +16.6% |
| Equity | 10/15 | €101,450 | €130,089 | +€28,639 | +28.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €82,850 | €111,489 | +€28,639 | +34.6% |
| Non-distributable reserves | 130/1 | €590 | €590 | = | 0.0% |
| Reserves not available under the articles | 1311 | €590 | €590 | = | 0.0% |
| Distributable reserves | 133 | €82,260 | €110,899 | +€28,639 | +34.8% |
| Amounts payable | 17/49 | €111,058 | €117,768 | +€6,710 | +6.0% |
| Amounts payable after more than one year | 17 | €40,548 | €30,167 | -€10,381 | -25.6% |
| Financial debts | 170/4 | €40,548 | €30,167 | -€10,381 | -25.6% |
| Amounts payable within one year | 42/48 | €70,510 | €87,601 | +€17,091 | +24.2% |
| Financial debts | 43 | €29,171 | €29,116 | -€55 | -0.2% |
| Credit institutions | 430/8 | €29,171 | €29,116 | -€55 | -0.2% |
| Trade debts | 44 | €1,920 | €1,101 | -€819 | -42.7% |
| Suppliers | 440/4 | €1,920 | €1,101 | -€819 | -42.7% |
| Taxes, remuneration and social security | 45 | €39,419 | €57,384 | +€17,965 | +45.6% |
| Taxes | 450/3 | €39,419 | €57,384 | +€17,965 | +45.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,507 | €8,825 | -€5,682 | -39.2% |
| Other operating charges | 640/8 | €349 | €2,905 | +€2,556 | +731.6% |
| Gross operating margin | 9900 | €51,902 | €75,697 | +€23,796 | +45.8% |
| Operating profit (loss) | 9901 | €37,045 | €63,967 | +€26,922 | +72.7% |
| Financial income | 75/76B | €9,283 | €8,844 | -€440 | -4.7% |
| Recurring financial income | 75 | €9,283 | €8,844 | -€440 | -4.7% |
| Financial charges | 65/66B | €11,108 | €23,875 | +€12,767 | +114.9% |
| Recurring financial charges | 65 | €11,108 | €10,565 | -€543 | -4.9% |
| Non-recurring financial charges | 66B | - | €13,310 | +€13,310 | |
| Profit (loss) for the period before taxes | 9903 | €35,220 | €48,936 | +€13,716 | +38.9% |
| Income taxes | 67/77 | €11,795 | €20,297 | +€8,502 | +72.1% |
| Profit (loss) for the period | 9904 | €23,425 | €28,639 | +€5,214 | +22.3% |
| Profit (loss) for the period to be appropriated | 9905 | €23,425 | €28,639 | +€5,214 | +22.3% |
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 11 October 2026 via checked.be.