V.B.V. Management: 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.V. Management
Largest movements
- Tangible fixed assets -€15,317
down €15,317 (-87.6%), from €17,485 to €2,168
- Cash +€7,454
up €7,454 (+823%), from €905 to €8,359
mainly Investment in fixed assets (net) (+€10,352) and Trade debts (+€5,982)
- Receivables within one year -€2,272
down €2,272 (-11.8%), from €19,266 to €16,994
of which Trade receivables: -€7,685
- Deferred charges and accrued income +€552
up €552 (+31.2%), from €1,768 to €2,320
- Current portion of long-term debt -€9,182
no longer reported in 2025 (was €9,182)
- Tax, wage and social debts -€8,634
down €8,634 (-75.6%), from €11,424 to €2,790
of which Taxes: -€5,384
- Trade debts +€5,982
up €5,982 (+143%), from €4,178 to €10,161
- Profit (loss) carried forward +€2,251
up €2,251 (+38.7%), from -€5,820 to -€3,569
- Gross operating margin +€20,995
up €20,995 (+221%), from €9,503 to €30,498
- Other operating charges +€16,673
up €16,673 (+787%), from €2,120 to €18,793
- Financial charges +€1,062
up €1,062 (+188%), from €566 to €1,629
- Taxes -€742
down €742 (-19.8%), from €3,754 to €3,012
- Financial income -€381
down €381 (-71.4%), from €533 to €152
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 | €39,425 | €29,842 | -€9,583 | -24.3% |
| Fixed assets | 21/28 | €17,485 | €2,168 | -€15,317 | -87.6% |
| Tangible fixed assets | 22/27 | €17,485 | €2,168 | -€15,317 | -87.6% |
| Furniture and vehicles | 24 | €17,485 | €2,168 | -€15,317 | -87.6% |
| Current assets | 29/58 | €21,939 | €27,674 | +€5,735 | +26.1% |
| Amounts receivable within one year | 40/41 | €19,266 | €16,994 | -€2,272 | -11.8% |
| Trade receivables | 40 | €14,462 | €6,776 | -€7,685 | -53.1% |
| Other amounts receivable | 41 | €4,804 | €10,218 | +€5,414 | +113% |
| Cash at bank and in hand | 54/58 | €905 | €8,359 | +€7,454 | +823% |
| Deferred charges and accrued income | 490/1 | €1,768 | €2,320 | +€552 | +31.2% |
| Total equity and liabilities | 10/49 | €39,425 | €29,842 | -€9,583 | -24.3% |
| Equity | 10/15 | €14,640 | €16,891 | +€2,251 | +15.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,820 | -€3,569 | +€2,251 | +38.7% |
| Amounts payable | 17/49 | €24,785 | €12,951 | -€11,834 | -47.7% |
| Amounts payable within one year | 42/48 | €24,785 | €12,951 | -€11,834 | -47.7% |
| Current portion of amounts payable after more than one year | 42 | €9,182 | - | -€9,182 | |
| Trade debts | 44 | €4,178 | €10,161 | +€5,982 | +143% |
| Suppliers | 440/4 | €4,178 | €10,161 | +€5,982 | +143% |
| Taxes, remuneration and social security | 45 | €11,424 | €2,790 | -€8,634 | -75.6% |
| Taxes | 450/3 | €8,174 | €2,790 | -€5,384 | -65.9% |
| Remuneration and social security | 454/9 | €3,250 | - | -€3,250 | |
| Non-recurring operating income | 76A | - | €9,053 | +€9,053 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,316 | €4,965 | -€351 | -6.6% |
| Other operating charges | 640/8 | €2,120 | €18,793 | +€16,673 | +787% |
| Gross operating margin | 9900 | €9,503 | €30,498 | +€20,995 | +221% |
| Operating profit (loss) | 9901 | €2,066 | €6,740 | +€4,674 | +226% |
| Financial income | 75/76B | €533 | €152 | -€381 | -71.4% |
| Recurring financial income | 75 | €533 | €152 | -€381 | -71.4% |
| Financial charges | 65/66B | €566 | €1,629 | +€1,062 | +188% |
| Recurring financial charges | 65 | €566 | €1,629 | +€1,062 | +188% |
| Profit (loss) for the period before taxes | 9903 | €2,033 | €5,264 | +€3,231 | +159% |
| Income taxes | 67/77 | €3,754 | €3,012 | -€742 | -19.8% |
| Profit (loss) for the period | 9904 | -€1,721 | €2,251 | +€3,972 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,721 | €2,251 | +€3,972 |
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 25 October 2026 via checked.be.