V.B. SYSTEMS: 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. SYSTEMS
Largest movements
- Receivables within one year -€46,233
down €46,233 (-40.3%), from €114,741 to €68,507
of which Trade receivables: -€36,794
- Tangible fixed assets -€36,726
down €36,726 (-11.5%), from €320,686 to €283,960
- Stocks and contracts +€8,814
up €8,814 (+306.7%), from €2,874 to €11,688
- Debts after one year -€28,740
down €28,740 (-12.7%), from €226,336 to €197,596
- Short-term financial debts -€22,405
down €22,405 (-84.1%), from €26,630 to €4,225
- Other debts -€18,291
down €18,291 (-27.3%), from €67,078 to €48,788
- Tax, wage and social debts -€9,660
down €9,660 (-68.3%), from €14,135 to €4,476
of which Taxes: -€11,660
- Depreciation -€2,283
down €2,283 (-5.8%), from €39,545 to €37,262
- Gross operating margin -€1,300
down €1,300 (-2.7%), from €48,542 to €47,242
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 | €442,322 | €366,554 | -€75,768 | -17.1% |
| Fixed assets | 21/28 | €320,686 | €283,960 | -€36,726 | -11.5% |
| Tangible fixed assets | 22/27 | €320,686 | €283,960 | -€36,726 | -11.5% |
| Land and buildings | 22 | €207,599 | €198,668 | -€8,931 | -4.3% |
| Plant, machinery and equipment | 23 | €40,247 | €30,363 | -€9,884 | -24.6% |
| Furniture and vehicles | 24 | €12,920 | €4,950 | -€7,970 | -61.7% |
| Leasing and similar rights | 25 | €59,920 | €49,979 | -€9,941 | -16.6% |
| Current assets | 29/58 | €121,636 | €82,594 | -€39,042 | -32.1% |
| Stocks and contracts in progress | 3 | €2,874 | €11,688 | +€8,814 | +306.7% |
| Stocks | 30/36 | €2,874 | €11,688 | +€8,814 | +306.7% |
| Amounts receivable within one year | 40/41 | €114,741 | €68,507 | -€46,233 | -40.3% |
| Trade receivables | 40 | €98,280 | €61,486 | -€36,794 | -37.4% |
| Other amounts receivable | 41 | €16,460 | €7,021 | -€9,439 | -57.3% |
| Cash at bank and in hand | 54/58 | €2,555 | €776 | -€1,779 | -69.6% |
| Deferred charges and accrued income | 490/1 | €1,466 | €1,623 | +€156 | +10.7% |
| Total equity and liabilities | 10/49 | €442,322 | €366,554 | -€75,768 | -17.1% |
| Equity | 10/15 | €57,317 | €56,056 | -€1,261 | -2.2% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €100 | €100 | = | 0.0% |
| Distributable reserves | 133 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €56,217 | €54,956 | -€1,261 | -2.2% |
| Amounts payable | 17/49 | €385,005 | €310,499 | -€74,507 | -19.4% |
| Amounts payable after more than one year | 17 | €226,336 | €197,596 | -€28,740 | -12.7% |
| Financial debts | 170/4 | €226,336 | €197,596 | -€28,740 | -12.7% |
| Amounts payable within one year | 42/48 | €158,670 | €112,903 | -€45,767 | -28.8% |
| Current portion of amounts payable after more than one year | 42 | €27,893 | €28,740 | +€847 | +3.0% |
| Financial debts | 43 | €26,630 | €4,225 | -€22,405 | -84.1% |
| Credit institutions | 430/8 | €26,630 | €4,225 | -€22,405 | -84.1% |
| Trade debts | 44 | €22,934 | €26,675 | +€3,742 | +16.3% |
| Suppliers | 440/4 | €22,934 | €26,675 | +€3,742 | +16.3% |
| Taxes, remuneration and social security | 45 | €14,135 | €4,476 | -€9,660 | -68.3% |
| Taxes | 450/3 | €14,135 | €2,476 | -€11,660 | -82.5% |
| Remuneration and social security | 454/9 | - | €2,000 | +€2,000 | |
| Other amounts payable | 47/48 | €67,078 | €48,788 | -€18,291 | -27.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,545 | €37,262 | -€2,283 | -5.8% |
| Other operating charges | 640/8 | €2,856 | €2,837 | -€19 | -0.7% |
| Gross operating margin | 9900 | €48,542 | €47,242 | -€1,300 | -2.7% |
| Operating profit (loss) | 9901 | €6,141 | €7,143 | +€1,002 | +16.3% |
| Financial income | 75/76B | €5 | €0 | -€4 | -92.7% |
| Recurring financial income | 75 | €5 | €0 | -€4 | -92.7% |
| Financial charges | 65/66B | €7,659 | €7,926 | +€267 | +3.5% |
| Recurring financial charges | 65 | €7,659 | €7,926 | +€267 | +3.5% |
| Profit (loss) for the period before taxes | 9903 | -€1,513 | -€782 | +€731 | +48.3% |
| Income taxes | 67/77 | €350 | €479 | +€129 | +37.0% |
| Profit (loss) for the period | 9904 | -€1,863 | -€1,261 | +€602 | +32.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,863 | -€1,261 | +€602 | +32.3% |
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.