V.G.B.S.: 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.G.B.S.
Largest movements
- Receivables within one year -€10,530
down €10,530 (-16.9%), from €62,408 to €51,879
of which Other amounts receivable: -€7,259
- Cash +€4,874
up €4,874 (+1.2%), from €398,621 to €403,496
mainly Trade debts (+€13,115) and Receivables within one year (+€10,530)
- Profit (loss) carried forward -€18,283
down €18,283 (-4.3%), from €422,597 to €404,314
- Trade debts +€13,115
up €13,115 (+115%), from €11,363 to €24,479
- Other operating charges +€21,007
up €21,007 (+120%), from €17,458 to €38,465
- Staff costs +€9,823
up €9,823 (+1,544%), from €636 to €10,459
- Gross operating margin -€6,421
down €6,421 (-18.0%), from €35,649 to €29,228
- Financial charges -€1,330
down €1,330 (-93.7%), from €1,420 to €90
- Taxes -€677
down €677, from €339 to -€339
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 | €461,833 | €456,793 | -€5,040 | -1.1% |
| Fixed assets | 21/28 | €23 | €55 | +€32 | +136% |
| Financial fixed assets | 28 | €23 | €55 | +€32 | +136% |
| Current assets | 29/58 | €461,810 | €456,738 | -€5,072 | -1.1% |
| Amounts receivable within one year | 40/41 | €62,408 | €51,879 | -€10,530 | -16.9% |
| Trade receivables | 40 | €29,369 | €26,098 | -€3,271 | -11.1% |
| Other amounts receivable | 41 | €33,039 | €25,780 | -€7,259 | -22.0% |
| Cash at bank and in hand | 54/58 | €398,621 | €403,496 | +€4,874 | +1.2% |
| Deferred charges and accrued income | 490/1 | €780 | €1,364 | +€584 | +74.8% |
| Total equity and liabilities | 10/49 | €461,833 | €456,793 | -€5,040 | -1.1% |
| Equity | 10/15 | €448,758 | €430,476 | -€18,283 | -4.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | - | -€18,600 | |
| Other | 1109/19 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €7,562 | €7,562 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,562 | - | -€7,562 | |
| Reserves not available under the articles | 1311 | €7,562 | - | -€7,562 | |
| Distributable reserves | 133 | - | €7,562 | +€7,562 | |
| Profit (loss) carried forward | 14 | €422,597 | €404,314 | -€18,283 | -4.3% |
| Amounts payable | 17/49 | €13,075 | €26,318 | +€13,243 | +101% |
| Amounts payable within one year | 42/48 | €13,075 | €26,318 | +€13,243 | +101% |
| Trade debts | 44 | €11,363 | €24,479 | +€13,115 | +115% |
| Suppliers | 440/4 | €11,363 | €24,479 | +€13,115 | +115% |
| Taxes, remuneration and social security | 45 | €1,711 | €1,839 | +€128 | +7.5% |
| Taxes | 450/3 | - | €154 | +€154 | |
| Remuneration and social security | 454/9 | €1,711 | €1,685 | -€26 | -1.5% |
| Remuneration, social security and pensions | 62 | €636 | €10,459 | +€9,823 | +1,544% |
| Other operating charges | 640/8 | €17,458 | €38,465 | +€21,007 | +120% |
| Gross operating margin | 9900 | €35,649 | €29,228 | -€6,421 | -18.0% |
| Operating profit (loss) | 9901 | €17,555 | -€19,695 | -€37,250 | |
| Financial income | 75/76B | €1,128 | €1,164 | +€36 | +3.2% |
| Recurring financial income | 75 | €1,128 | €1,164 | +€36 | +3.2% |
| Financial charges | 65/66B | €1,420 | €90 | -€1,330 | -93.7% |
| Recurring financial charges | 65 | €1,420 | €90 | -€1,330 | -93.7% |
| Profit (loss) for the period before taxes | 9903 | €17,264 | -€18,621 | -€35,885 | |
| Income taxes | 67/77 | €339 | -€339 | -€677 | |
| Profit (loss) for the period | 9904 | €16,925 | -€18,283 | -€35,208 | |
| Profit (loss) for the period to be appropriated | 9905 | €16,925 | -€18,283 | -€35,208 |
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 26 October 2026 via checked.be.