V.B.H.: 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.H.
Largest movements
- Receivables within one year -€26,536
down €26,536 (-99.7%), from €26,620 to €84
of which Trade receivables: -€26,620
- Cash -€14,223
no longer reported in 2025 (was €14,223)
mainly Debts after one year (-€27,835) and Tax, wage and social debts (-€12,704)
- Tangible fixed assets -€9,930
down €9,930 (-4.7%), from €211,819 to €201,889
- Debts after one year -€27,835
down €27,835 (-74.8%), from €37,209 to €9,373
- Tax, wage and social debts -€12,704
down €12,704 (-61.1%), from €20,802 to €8,098
- Reserves -€8,719
down €8,719 (-9.6%), from €90,421 to €81,701
- Other debts -€3,000
down €3,000 (-5.6%), from €53,868 to €50,868
- Gross operating margin -€39,468
down €39,468 (-81.9%), from €48,194 to €8,727
- Taxes -€8,632
no longer reported in 2025 (was €8,632)
- Financial charges +€1,027
up €1,027 (+55.9%), from €1,839 to €2,866
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 | €252,661 | €202,596 | -€50,066 | -19.8% |
| Fixed assets | 21/28 | €211,819 | €201,889 | -€9,930 | -4.7% |
| Tangible fixed assets | 22/27 | €211,819 | €201,889 | -€9,930 | -4.7% |
| Land and buildings | 22 | €211,819 | €201,889 | -€9,930 | -4.7% |
| Current assets | 29/58 | €40,843 | €706 | -€40,136 | -98.3% |
| Amounts receivable within one year | 40/41 | €26,620 | €84 | -€26,536 | -99.7% |
| Trade receivables | 40 | €26,620 | - | -€26,620 | |
| Other amounts receivable | 41 | - | €84 | +€84 | |
| Cash at bank and in hand | 54/58 | €14,223 | - | -€14,223 | |
| Deferred charges and accrued income | 490/1 | - | €623 | +€623 | |
| Total equity and liabilities | 10/49 | €252,661 | €202,596 | -€50,066 | -19.8% |
| Equity | 10/15 | €109,013 | €100,293 | -€8,719 | -8.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €90,421 | €81,701 | -€8,719 | -9.6% |
| Distributable reserves | 133 | €90,421 | €81,701 | -€8,719 | -9.6% |
| Amounts payable | 17/49 | €143,649 | €102,302 | -€41,347 | -28.8% |
| Amounts payable after more than one year | 17 | €37,209 | €9,373 | -€27,835 | -74.8% |
| Financial debts | 170/4 | €37,209 | €9,373 | -€27,835 | -74.8% |
| Amounts payable within one year | 42/48 | €104,940 | €91,181 | -€13,759 | -13.1% |
| Current portion of amounts payable after more than one year | 42 | €27,413 | €28,349 | +€937 | +3.4% |
| Trade debts | 44 | €2,858 | €3,866 | +€1,008 | +35.3% |
| Suppliers | 440/4 | €2,858 | €3,866 | +€1,008 | +35.3% |
| Taxes, remuneration and social security | 45 | €20,802 | €8,098 | -€12,704 | -61.1% |
| Taxes | 450/3 | €20,802 | €8,098 | -€12,704 | -61.1% |
| Other amounts payable | 47/48 | €53,868 | €50,868 | -€3,000 | -5.6% |
| Accrued charges and deferred income | 492/3 | €1,500 | €1,748 | +€248 | +16.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,156 | €9,930 | -€226 | -2.2% |
| Other operating charges | 640/8 | €4,522 | €4,651 | +€129 | +2.8% |
| Gross operating margin | 9900 | €48,194 | €8,727 | -€39,468 | -81.9% |
| Operating profit (loss) | 9901 | €33,517 | -€5,854 | -€39,370 | |
| Financial charges | 65/66B | €1,839 | €2,866 | +€1,027 | +55.9% |
| Recurring financial charges | 65 | €1,839 | €2,866 | +€1,027 | +55.9% |
| Profit (loss) for the period before taxes | 9903 | €31,678 | -€8,719 | -€40,397 | |
| Income taxes | 67/77 | €8,632 | - | -€8,632 | |
| Profit (loss) for the period | 9904 | €23,046 | -€8,719 | -€31,765 | |
| Profit (loss) for the period to be appropriated | 9905 | €23,046 | -€8,719 | -€31,765 |
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 19 October 2026 via checked.be.