V.B. & Co: 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. & Co
Largest movements
- Tangible fixed assets +€387,702
up €387,702 (+121.6%), from €318,783 to €706,484
of which Land and buildings: +€397,438
- Cash -€147,755
down €147,755 (-22.8%), from €649,079 to €501,324
mainly Investment in fixed assets (net) (-€407,994) and Current investments (-€100,000)
- Current investments +€100,000
up €100,000 (+3894.7%), from €2,568 to €102,568
- Receivables after one year +€44,886
up €44,886 (+76.0%), from €59,082 to €103,968
- Trade debts +€260,937
new in 2025: €260,937
- Accrued charges and deferred income +€133,540
new in 2025: €133,540
- Gross operating margin +€9,074
up €9,074 (+80.6%), from €11,257 to €20,331
- Other operating charges +€8,688
up €8,688 (+116.3%), from €7,473 to €16,161
- Depreciation -€2,644
down €2,644 (-11.5%), from €22,936 to €20,293
- Taxes +€1,781
new in 2025: €1,781
- Financial income +€812
up €812 (+6.0%), from €13,599 to €14,411
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 | €1,045,195 | €1,436,079 | +€390,884 | +37.4% |
| Fixed assets | 21/28 | €318,933 | €706,634 | +€387,702 | +121.6% |
| Tangible fixed assets | 22/27 | €318,783 | €706,484 | +€387,702 | +121.6% |
| Land and buildings | 22 | €245,438 | €642,876 | +€397,438 | +161.9% |
| Plant, machinery and equipment | 23 | €70,665 | €62,951 | -€7,714 | -10.9% |
| Furniture and vehicles | 24 | €876 | €657 | -€219 | -25.0% |
| Other tangible fixed assets | 26 | €1,803 | - | -€1,803 | |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €726,263 | €729,445 | +€3,182 | +0.4% |
| Amounts receivable after more than one year | 29 | €59,082 | €103,968 | +€44,886 | +76.0% |
| Other amounts receivable | 291 | €59,082 | €103,968 | +€44,886 | +76.0% |
| Amounts receivable within one year | 40/41 | €12,549 | €12,324 | -€226 | -1.8% |
| Trade receivables | 40 | €192 | €360 | +€168 | +87.5% |
| Other amounts receivable | 41 | €12,357 | €11,964 | -€394 | -3.2% |
| Current investments | 50/53 | €2,568 | €102,568 | +€100,000 | +3894.7% |
| Cash at bank and in hand | 54/58 | €649,079 | €501,324 | -€147,755 | -22.8% |
| Deferred charges and accrued income | 490/1 | €2,985 | €9,262 | +€6,277 | +210.3% |
| Total equity and liabilities | 10/49 | €1,045,195 | €1,436,079 | +€390,884 | +37.4% |
| Equity | 10/15 | €955,327 | €953,941 | -€1,385 | -0.1% |
| Contributions | 10/11 | €247,894 | €247,894 | = | 0.0% |
| Capital | 10 | €247,894 | €247,894 | = | 0.0% |
| Issued capital | 100 | €247,894 | €247,894 | = | 0.0% |
| Reserves | 13 | €707,365 | €706,040 | -€1,325 | -0.2% |
| Non-distributable reserves | 130/1 | €24,790 | €24,790 | = | 0.0% |
| Legal reserve | 130 | €24,790 | €24,790 | = | 0.0% |
| Tax-exempt reserves | 132 | €233,127 | €226,502 | -€6,625 | -2.8% |
| Distributable reserves | 133 | €449,448 | €454,748 | +€5,300 | +1.2% |
| Profit (loss) carried forward | 14 | €68 | €7 | -€61 | -89.0% |
| Provisions and deferred taxes | 16 | €73,609 | €71,401 | -€2,208 | -3.0% |
| Deferred taxes | 168 | €73,609 | €71,401 | -€2,208 | -3.0% |
| Amounts payable | 17/49 | €16,260 | €410,737 | +€394,478 | +2426.1% |
| Amounts payable within one year | 42/48 | €16,260 | €277,197 | +€260,937 | +1604.8% |
| Trade debts | 44 | - | €260,937 | +€260,937 | |
| Suppliers | 440/4 | - | €260,937 | +€260,937 | |
| Other amounts payable | 47/48 | €16,260 | €16,260 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €133,540 | +€133,540 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,936 | €20,293 | -€2,644 | -11.5% |
| Other operating charges | 640/8 | €7,473 | €16,161 | +€8,688 | +116.3% |
| Gross operating margin | 9900 | €11,257 | €20,331 | +€9,074 | +80.6% |
| Operating profit (loss) | 9901 | -€19,152 | -€16,123 | +€3,029 | +15.8% |
| Financial income | 75/76B | €13,599 | €14,411 | +€812 | +6.0% |
| Recurring financial income | 75 | €13,599 | €14,411 | +€812 | +6.0% |
| Financial charges | 65/66B | €110 | €100 | -€10 | -9.0% |
| Recurring financial charges | 65 | €110 | €100 | -€10 | -9.0% |
| Profit (loss) for the period before taxes | 9903 | -€5,664 | -€1,812 | +€3,851 | +68.0% |
| Transfer from deferred taxes | 780 | - | €2,208 | +€2,208 | |
| Income taxes | 67/77 | - | €1,781 | +€1,781 | |
| Profit (loss) for the period | 9904 | -€5,664 | -€1,385 | +€4,278 | +75.5% |
| Transfer from tax-exempt reserves | 789 | - | €6,625 | +€6,625 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,664 | €5,239 | +€10,903 |
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 10 October 2026 via checked.be.