V.B.P.V.: 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.P.V.
Largest movements
- Tangible fixed assets +€387,834
up €387,834 (+12.3%), from €3.2m to €3.5m
of which Land and buildings: +€463,763
- Receivables within one year +€54,403
up €54,403 (+104%), from €52,218 to €106,621
of which Trade receivables: +€50,808
- Other debts +€523,536
up €523,536 (+355%), from €147,595 to €671,131
- Debts after one year -€182,714
down €182,714 (-9.6%), from €1.9m to €1.7m
- Reserves +€70,028
up €70,028 (+9.8%), from €715,263 to €785,291
of which Tax-exempt reserves: +€63,150
- Current portion of long-term debt -€57,965
down €57,965 (-23.3%), from €249,111 to €191,146
- Trade debts +€46,169
up €46,169 (+78.8%), from €58,620 to €104,789
- Depreciation +€40,582
up €40,582 (+16.3%), from €248,958 to €289,541
- Gross operating margin +€23,270
up €23,270 (+5.4%), from €433,768 to €457,038
- Financial charges +€7,460
up €7,460 (+14.2%), from €52,405 to €59,865
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 | €3,248,330 | €3,667,704 | +€419,373 | +12.9% |
| Fixed assets | 21/28 | €3,156,683 | €3,544,517 | +€387,834 | +12.3% |
| Tangible fixed assets | 22/27 | €3,156,683 | €3,544,517 | +€387,834 | +12.3% |
| Land and buildings | 22 | €3,079,271 | €3,543,034 | +€463,763 | +15.1% |
| Plant, machinery and equipment | 23 | €75,529 | €0 | -€75,529 | -100% |
| Furniture and vehicles | 24 | €1,882 | €1,482 | -€400 | -21.3% |
| Current assets | 29/58 | €91,648 | €123,187 | +€31,539 | +34.4% |
| Amounts receivable within one year | 40/41 | €52,218 | €106,621 | +€54,403 | +104% |
| Trade receivables | 40 | €35,595 | €86,403 | +€50,808 | +143% |
| Other amounts receivable | 41 | €16,623 | €20,218 | +€3,595 | +21.6% |
| Cash at bank and in hand | 54/58 | €34,962 | €16,424 | -€18,538 | -53.0% |
| Deferred charges and accrued income | 490/1 | €4,468 | €142 | -€4,325 | -96.8% |
| Total equity and liabilities | 10/49 | €3,248,330 | €3,667,704 | +€419,373 | +12.9% |
| Equity | 10/15 | €845,263 | €915,291 | +€70,028 | +8.3% |
| Contributions | 10/11 | €130,000 | €130,000 | = | 0.0% |
| Capital | 10 | €130,000 | €130,000 | = | 0.0% |
| Issued capital | 100 | €130,000 | €130,000 | = | 0.0% |
| Reserves | 13 | €715,263 | €785,291 | +€70,028 | +9.8% |
| Non-distributable reserves | 130/1 | €13,000 | €13,000 | = | 0.0% |
| Legal reserve | 130 | €13,000 | €13,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €63,150 | €126,300 | +€63,150 | +100% |
| Distributable reserves | 133 | €639,113 | €645,991 | +€6,878 | +1.1% |
| Amounts payable | 17/49 | €2,403,068 | €2,752,412 | +€349,345 | +14.5% |
| Amounts payable after more than one year | 17 | €1,895,152 | €1,712,438 | -€182,714 | -9.6% |
| Financial debts | 170/4 | €1,895,152 | €1,712,438 | -€182,714 | -9.6% |
| Amounts payable within one year | 42/48 | €493,052 | €1,018,899 | +€525,848 | +107% |
| Current portion of amounts payable after more than one year | 42 | €249,111 | €191,146 | -€57,965 | -23.3% |
| Financial debts | 43 | €6,701 | €10,917 | +€4,216 | +62.9% |
| Credit institutions | 430/8 | €6,701 | €10,917 | +€4,216 | +62.9% |
| Trade debts | 44 | €58,620 | €104,789 | +€46,169 | +78.8% |
| Suppliers | 440/4 | €58,620 | €104,789 | +€46,169 | +78.8% |
| Taxes, remuneration and social security | 45 | €31,025 | €40,917 | +€9,892 | +31.9% |
| Taxes | 450/3 | €31,025 | €40,917 | +€9,892 | +31.9% |
| Other amounts payable | 47/48 | €147,595 | €671,131 | +€523,536 | +355% |
| Accrued charges and deferred income | 492/3 | €14,864 | €21,075 | +€6,211 | +41.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €248,958 | €289,541 | +€40,582 | +16.3% |
| Other operating charges | 640/8 | €14,815 | €15,312 | +€497 | +3.4% |
| Gross operating margin | 9900 | €433,768 | €457,038 | +€23,270 | +5.4% |
| Operating profit (loss) | 9901 | €169,995 | €152,186 | -€17,809 | -10.5% |
| Financial income | 75/76B | €0 | €1 | +€1 | +1,540% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +1,540% |
| Financial charges | 65/66B | €52,405 | €59,865 | +€7,460 | +14.2% |
| Recurring financial charges | 65 | €52,405 | €59,865 | +€7,460 | +14.2% |
| Profit (loss) for the period before taxes | 9903 | €117,590 | €92,321 | -€25,269 | -21.5% |
| Income taxes | 67/77 | €25,888 | €22,293 | -€3,595 | -13.9% |
| Profit (loss) for the period | 9904 | €91,702 | €70,028 | -€21,674 | -23.6% |
| Transfer to tax-exempt reserves | 689 | €63,150 | €63,150 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €28,552 | €6,878 | -€21,674 | -75.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.