V.R.C.: 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.R.C.
Largest movements
- Tangible fixed assets -€7,511
down €7,511 (-5.3%), from €140,997 to €133,486
of which Land and buildings: -€5,030
- Cash +€1,716
up €1,716 (+278.2%), from €617 to €2,333
mainly Depreciation (+€7,909) and Tax, wage and social debts (+€396)
- Other debts -€3,635
down €3,635 (-21.6%), from €16,851 to €13,216
- Reserves -€1,533
down €1,533 (-1.5%), from €98,895 to €97,362
of which Tax-exempt reserves: -€5,493
- Gross operating margin +€2,289
up €2,289 (+54.6%), from €4,190 to €6,478
- Taxes +€201
up €201 (+102.8%), from €195 to €396
- Depreciation +€66
up €66 (+0.8%), from €7,843 to €7,909
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 | €141,768 | €135,975 | -€5,793 | -4.1% |
| Fixed assets | 21/28 | €140,997 | €133,486 | -€7,511 | -5.3% |
| Tangible fixed assets | 22/27 | €140,997 | €133,486 | -€7,511 | -5.3% |
| Land and buildings | 22 | €116,113 | €111,083 | -€5,030 | -4.3% |
| Other tangible fixed assets | 26 | €24,885 | €22,403 | -€2,482 | -10.0% |
| Current assets | 29/58 | €771 | €2,489 | +€1,718 | +223.0% |
| Cash at bank and in hand | 54/58 | €617 | €2,333 | +€1,716 | +278.2% |
| Deferred charges and accrued income | 490/1 | €154 | €156 | +€2 | +1.3% |
| Total equity and liabilities | 10/49 | €141,768 | €135,975 | -€5,793 | -4.1% |
| Equity | 10/15 | €105,092 | €103,560 | -€1,533 | -1.5% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €98,895 | €97,362 | -€1,533 | -1.5% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €74,872 | €69,378 | -€5,493 | -7.3% |
| Distributable reserves | 133 | €22,164 | €26,125 | +€3,961 | +17.9% |
| Provisions and deferred taxes | 16 | €19,545 | €18,172 | -€1,373 | -7.0% |
| Deferred taxes | 168 | €19,545 | €18,172 | -€1,373 | -7.0% |
| Amounts payable | 17/49 | €17,131 | €14,244 | -€2,887 | -16.9% |
| Amounts payable within one year | 42/48 | €17,046 | €14,159 | -€2,887 | -16.9% |
| Trade debts | 44 | - | €352 | +€352 | |
| Suppliers | 440/4 | - | €352 | +€352 | |
| Taxes, remuneration and social security | 45 | €195 | €591 | +€396 | +202.8% |
| Taxes | 450/3 | €195 | €591 | +€396 | +202.8% |
| Other amounts payable | 47/48 | €16,851 | €13,216 | -€3,635 | -21.6% |
| Accrued charges and deferred income | 492/3 | €85 | €85 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,843 | €7,909 | +€66 | +0.8% |
| Other operating charges | 640/8 | €861 | €889 | +€27 | +3.2% |
| Gross operating margin | 9900 | €4,190 | €6,478 | +€2,289 | +54.6% |
| Operating profit (loss) | 9901 | -€4,515 | -€2,320 | +€2,195 | +48.6% |
| Financial charges | 65/66B | €204 | €190 | -€14 | -6.7% |
| Recurring financial charges | 65 | €204 | €190 | -€14 | -6.7% |
| Profit (loss) for the period before taxes | 9903 | -€4,719 | -€2,510 | +€2,209 | +46.8% |
| Transfer from deferred taxes | 780 | €1,373 | €1,373 | = | 0.0% |
| Income taxes | 67/77 | €195 | €396 | +€201 | +102.8% |
| Profit (loss) for the period | 9904 | -€3,541 | -€1,533 | +€2,008 | +56.7% |
| Transfer from tax-exempt reserves | 789 | €5,493 | €5,493 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,953 | €3,961 | +€2,008 | +102.8% |
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 12 October 2026 via checked.be.