V&B PROJECT: what changed
Two fiscal 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 PROJECT
Largest movements
- Receivables within one year +€65,413
up €65,413 (+1442.2%), from €4,536 to €69,948
of which Trade receivables: +€62,576
- Deferred charges and accrued income -€25,622
down €25,622 (-81.6%), from €31,405 to €5,783
- Cash -€15,881
down €15,881 (-12.4%), from €127,661 to €111,779
mainly Receivables within one year (-€65,413) and Other debts (-€7,754)
- Tangible fixed assets -€4,620
down €4,620 (-65.5%), from €7,058 to €2,438
of which Furniture and vehicles: -€2,769
- Reserves +€18,709
up €18,709 (+15.9%), from €117,723 to €136,432
- Profit (loss) carried forward +€9,410
new in 2024: €9,410
- Other debts -€7,754
down €7,754 (-17.5%), from €44,201 to €36,447
- Trade debts -€2,535
down €2,535 (-48.8%), from €5,198 to €2,664
- Tax, wage and social debts +€2,135
up €2,135 (+68.9%), from €3,100 to €5,235
- Gross operating margin -€6,077
down €6,077 (-11.9%), from €51,190 to €45,113
- Taxes -€1,948
down €1,948 (-16.1%), from €12,084 to €10,137
- Financial income +€711
up €711 (+171.4%), from €415 to €1,125
- Financial charges -€632
down €632 (-27.1%), from €2,329 to €1,697
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €176,745 | €196,855 | +€20,110 | +11.4% |
| Fixed assets | 21/28 | €7,058 | €2,438 | -€4,620 | -65.5% |
| Tangible fixed assets | 22/27 | €7,058 | €2,438 | -€4,620 | -65.5% |
| Plant, machinery and equipment | 23 | €3,801 | €1,950 | -€1,851 | -48.7% |
| Furniture and vehicles | 24 | €3,257 | €488 | -€2,769 | -85.0% |
| Current assets | 29/58 | €169,687 | €194,417 | +€24,730 | +14.6% |
| Stocks and contracts in progress | 3 | €6,085 | €6,905 | +€820 | +13.5% |
| Stocks | 30/36 | €6,085 | €6,905 | +€820 | +13.5% |
| Amounts receivable within one year | 40/41 | €4,536 | €69,948 | +€65,413 | +1442.2% |
| Trade receivables | 40 | €764 | €63,340 | +€62,576 | +8189.9% |
| Other amounts receivable | 41 | €3,772 | €6,608 | +€2,836 | +75.2% |
| Cash at bank and in hand | 54/58 | €127,661 | €111,779 | -€15,881 | -12.4% |
| Deferred charges and accrued income | 490/1 | €31,405 | €5,783 | -€25,622 | -81.6% |
| Total equity and liabilities | 10/49 | €176,745 | €196,855 | +€20,110 | +11.4% |
| Equity | 10/15 | €123,923 | €152,042 | +€28,119 | +22.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €117,723 | €136,432 | +€18,709 | +15.9% |
| Distributable reserves | 133 | €117,723 | €136,432 | +€18,709 | +15.9% |
| Profit (loss) carried forward | 14 | - | €9,410 | +€9,410 | |
| Amounts payable | 17/49 | €52,821 | €44,813 | -€8,009 | -15.2% |
| Amounts payable within one year | 42/48 | €52,500 | €44,346 | -€8,153 | -15.5% |
| Trade debts | 44 | €5,198 | €2,664 | -€2,535 | -48.8% |
| Suppliers | 440/4 | €5,198 | €2,664 | -€2,535 | -48.8% |
| Taxes, remuneration and social security | 45 | €3,100 | €5,235 | +€2,135 | +68.9% |
| Taxes | 450/3 | €3,100 | €5,235 | +€2,135 | +68.9% |
| Other amounts payable | 47/48 | €44,201 | €36,447 | -€7,754 | -17.5% |
| Accrued charges and deferred income | 492/3 | €322 | €467 | +€145 | +45.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,964 | €4,620 | -€345 | -6.9% |
| Gross operating margin | 9900 | €51,190 | €45,113 | -€6,077 | -11.9% |
| Operating profit (loss) | 9901 | €46,226 | €40,494 | -€5,732 | -12.4% |
| Financial income | 75/76B | €415 | €1,125 | +€711 | +171.4% |
| Recurring financial income | 75 | €415 | €1,125 | +€711 | +171.4% |
| Financial charges | 65/66B | €2,329 | €1,697 | -€632 | -27.1% |
| Recurring financial charges | 65 | €2,329 | €1,697 | -€632 | -27.1% |
| Profit (loss) for the period before taxes | 9903 | €44,311 | €39,921 | -€4,390 | -9.9% |
| Income taxes | 67/77 | €12,084 | €10,137 | -€1,948 | -16.1% |
| Profit (loss) for the period | 9904 | €32,227 | €29,785 | -€2,443 | -7.6% |
| Profit (loss) for the period to be appropriated | 9905 | €32,227 | €29,785 | -€2,443 | -7.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.