V & B SERVICE: 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 SERVICE
Largest movements
- Receivables within one year +€58,378
up €58,378 (+23.6%), from €247,589 to €305,968
of which Trade receivables: +€70,280
- Deferred charges and accrued income +€25,823
up €25,823 (+286%), from €9,030 to €34,852
- Cash -€20,582
down €20,582 (-5.1%), from €406,670 to €386,087
mainly Current portion of long-term debt (-€87,369) and Contributions, distributions and other (-€67,812)
- Tangible fixed assets +€9,242
up €9,242 (+22.8%), from €40,595 to €49,837
of which Plant, machinery and equipment: +€15,118
- Reserves +€96,781
up €96,781 (+39.1%), from €247,768 to €344,549
of which Distributable reserves: +€98,976
- Accrued charges and deferred income +€91,443
up €91,443 (+797%), from €11,471 to €102,913
- Current portion of long-term debt -€87,369
down €87,369 (-81.5%), from €107,261 to €19,891
- Short-term financial debts +€57,430
up €57,430 (+1,390%), from €4,133 to €61,563
- Tax, wage and social debts -€39,362
down €39,362 (-33.6%), from €117,228 to €77,867
of which Taxes: -€41,773
- Gross operating margin -€33,332
down €33,332 (-8.1%), from €412,051 to €378,719
- Taxes -€24,897
down €24,897 (-23.7%), from €105,203 to €80,306
- Staff costs +€10,364
up €10,364 (+11.0%), from €94,113 to €104,477
- Financial charges +€8,236
up €8,236 (+101%), from €8,163 to €16,399
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 | €734,954 | €807,540 | +€72,585 | +9.9% |
| Fixed assets | 21/28 | €46,665 | €55,632 | +€8,967 | +19.2% |
| Tangible fixed assets | 22/27 | €40,595 | €49,837 | +€9,242 | +22.8% |
| Plant, machinery and equipment | 23 | €28,940 | €44,058 | +€15,118 | +52.2% |
| Furniture and vehicles | 24 | €11,655 | €5,779 | -€5,876 | -50.4% |
| Financial fixed assets | 28 | €6,070 | €5,795 | -€275 | -4.5% |
| Current assets | 29/58 | €688,289 | €751,908 | +€63,618 | +9.2% |
| Stocks and contracts in progress | 3 | €25,000 | €25,000 | = | 0.0% |
| Stocks | 30/36 | €25,000 | €25,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €247,589 | €305,968 | +€58,378 | +23.6% |
| Trade receivables | 40 | €214,698 | €284,978 | +€70,280 | +32.7% |
| Other amounts receivable | 41 | €32,891 | €20,989 | -€11,902 | -36.2% |
| Cash at bank and in hand | 54/58 | €406,670 | €386,087 | -€20,582 | -5.1% |
| Deferred charges and accrued income | 490/1 | €9,030 | €34,852 | +€25,823 | +286% |
| Total equity and liabilities | 10/49 | €734,954 | €807,540 | +€72,585 | +9.9% |
| Equity | 10/15 | €272,568 | €369,349 | +€96,781 | +35.5% |
| Contributions | 10/11 | €24,800 | €24,800 | = | 0.0% |
| Reserves | 13 | €247,768 | €344,549 | +€96,781 | +39.1% |
| Tax-exempt reserves | 132 | €25,087 | €22,892 | -€2,195 | -8.7% |
| Distributable reserves | 133 | €222,681 | €321,657 | +€98,976 | +44.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €6,162 | €5,431 | -€732 | -11.9% |
| Deferred taxes | 168 | €6,162 | €5,431 | -€732 | -11.9% |
| Amounts payable | 17/49 | €456,224 | €432,759 | -€23,464 | -5.1% |
| Amounts payable after more than one year | 17 | €52,829 | €32,937 | -€19,891 | -37.7% |
| Financial debts | 170/4 | €52,829 | €32,937 | -€19,891 | -37.7% |
| Amounts payable within one year | 42/48 | €391,925 | €296,909 | -€95,016 | -24.2% |
| Current portion of amounts payable after more than one year | 42 | €107,261 | €19,891 | -€87,369 | -81.5% |
| Financial debts | 43 | €4,133 | €61,563 | +€57,430 | +1,390% |
| Credit institutions | 430/8 | €4,133 | €61,563 | +€57,430 | +1,390% |
| Trade debts | 44 | €146,983 | €121,268 | -€25,714 | -17.5% |
| Suppliers | 440/4 | €146,983 | €121,268 | -€25,714 | -17.5% |
| Taxes, remuneration and social security | 45 | €117,228 | €77,867 | -€39,362 | -33.6% |
| Taxes | 450/3 | €110,443 | €68,670 | -€41,773 | -37.8% |
| Remuneration and social security | 454/9 | €6,785 | €9,197 | +€2,412 | +35.5% |
| Other amounts payable | 47/48 | €16,320 | €16,320 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €11,471 | €102,913 | +€91,443 | +797% |
| Non-recurring operating income | 76A | €38,000 | €44,804 | +€6,804 | +17.9% |
| Remuneration, social security and pensions | 62 | €94,113 | €104,477 | +€10,364 | +11.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,708 | €9,122 | -€2,586 | -22.1% |
| Other operating charges | 640/8 | €4,065 | €7,950 | +€3,885 | +95.6% |
| Non-recurring operating charges | 66A | €1,215 | €987 | -€228 | -18.7% |
| Gross operating margin | 9900 | €412,051 | €378,719 | -€33,332 | -8.1% |
| Operating profit (loss) | 9901 | €300,950 | €256,183 | -€44,767 | -14.9% |
| Financial income | 75/76B | €2,128 | €4,384 | +€2,256 | +106% |
| Recurring financial income | 75 | €2,128 | €4,384 | +€2,256 | +106% |
| Financial charges | 65/66B | €8,163 | €16,399 | +€8,236 | +101% |
| Recurring financial charges | 65 | €8,163 | €16,399 | +€8,236 | +101% |
| Profit (loss) for the period before taxes | 9903 | €294,914 | €244,167 | -€50,747 | -17.2% |
| Transfer from deferred taxes | 780 | €88 | €732 | +€644 | +735% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €105,203 | €80,306 | -€24,897 | -23.7% |
| Profit (loss) for the period | 9904 | €189,799 | €164,593 | -€25,206 | -13.3% |
| Transfer from tax-exempt reserves | 789 | €263 | €2,195 | +€1,932 | +735% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €190,062 | €166,788 | -€23,274 | -12.2% |
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 18 October 2026 via checked.be.