V.R.D.: 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.D.
Largest movements
- Cash +€52,175
up €52,175 (+21.6%), from €242,084 to €294,259
mainly Net result for the year (+€53,008)
- Profit (loss) carried forward +€53,008
up €53,008 (+14.1%), from €377,143 to €430,151
- Turnover +€2,130
up €2,130 (+2.8%), from €75,229 to €77,360
- Other operating charges +€1,801
up €1,801 (+167%), from €1,081 to €2,881
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €420,567 | €472,785 | +€52,218 | +12.4% |
| Fixed assets | 21/28 | €178,483 | €178,483 | = | 0.0% |
| Tangible fixed assets | 22/27 | €178,483 | €178,483 | = | 0.0% |
| Land and buildings | 22 | €178,483 | €178,483 | = | 0.0% |
| Current assets | 29/58 | €242,084 | €294,302 | +€52,218 | +21.6% |
| Amounts receivable within one year | 40/41 | - | €43 | +€43 | |
| Trade receivables | 40 | - | €43 | +€43 | |
| Cash at bank and in hand | 54/58 | €242,084 | €294,259 | +€52,175 | +21.6% |
| Total equity and liabilities | 10/49 | €420,567 | €472,785 | +€52,218 | +12.4% |
| Equity | 10/15 | €412,508 | €465,516 | +€53,008 | +12.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €16,765 | €16,765 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €14,905 | €14,905 | = | 0.0% |
| Profit (loss) carried forward | 14 | €377,143 | €430,151 | +€53,008 | +14.1% |
| Amounts payable | 17/49 | €8,059 | €7,269 | -€790 | -9.8% |
| Amounts payable within one year | 42/48 | €8,059 | €7,269 | -€790 | -9.8% |
| Trade debts | 44 | €2,550 | €2,558 | +€7 | +0.3% |
| Suppliers | 440/4 | €2,550 | €2,558 | +€7 | +0.3% |
| Taxes, remuneration and social security | 45 | €5,509 | €4,712 | -€797 | -14.5% |
| Taxes | 450/3 | €5,509 | €4,712 | -€797 | -14.5% |
| Operating income | 70/76A | €75,229 | €77,360 | +€2,130 | +2.8% |
| Turnover | 70 | €75,229 | €77,360 | +€2,130 | +2.8% |
| Operating charges | 60/66A | €4,799 | €5,854 | +€1,055 | +22.0% |
| Services and other goods | 61 | €3,719 | €2,973 | -€745 | -20.0% |
| Other operating charges | 640/8 | €1,081 | €2,881 | +€1,801 | +167% |
| Operating profit (loss) | 9901 | €70,430 | €71,505 | +€1,075 | +1.5% |
| Financial charges | 65/66B | €775 | €754 | -€21 | -2.7% |
| Recurring financial charges | 65 | €775 | €754 | -€21 | -2.7% |
| Other financial charges | 652/9 | €775 | €754 | -€21 | -2.7% |
| Profit (loss) for the period before taxes | 9903 | €69,656 | €70,752 | +€1,096 | +1.6% |
| Income taxes | 67/77 | €17,509 | €17,744 | +€234 | +1.3% |
| Taxes | 670/3 | €17,509 | €17,744 | +€234 | +1.3% |
| Profit (loss) for the period | 9904 | €52,146 | €53,008 | +€862 | +1.7% |
| Profit (loss) for the period to be appropriated | 9905 | €52,146 | €53,008 | +€862 | +1.7% |
Source: filed annual accounts (NBB), financial years ended 28 February 2025 and 28 February 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.