V3M: what changed
What changed
V3M
NACE 55.204, Guest rooms (bed and breakfast)
filed annual accounts (NBB)
Net result for the year
-€131,157
2024 · -€66,300-€64,856
Equity
€413,132
2024 · €544,289-€131,157
Cash
€18,669
2024 · €22,347-€3,679
Balance sheet total
€1.7m
2024 · €1.7m-€75,099
Largest movements
Assets
- Receivables within one year -€229,267
down €229,267 (-99.0%), from €231,613 to €2,346
of which Other amounts receivable: -€229,267
- Tangible fixed assets +€157,245
up €157,245 (+10.6%), from €1.5m to €1.6m
of which Other tangible fixed assets: +€311,747
Equity and liabilities
- Debts after one year +€300,400
up €300,400 (+47.2%), from €636,300 to €936,700
of which Other amounts payable: +€400,000
- Other debts -€271,568
down €271,568 (-59.7%), from €454,659 to €183,091
- Reserves -€131,157
down €131,157 (-24.9%), from €525,689 to €394,532
of which Distributable reserves: -€131,157
- Trade debts +€24,994
up €24,994 (+9,578%), from €261 to €25,255
Income statement
- Gross operating margin -€63,336
down €63,336 (-86.7%), from €73,029 to €9,693
- Depreciation +€1,620
up €1,620 (+1.4%), from €116,903 to €118,523
- Financial charges -€1,365
down €1,365 (-11.4%), from €12,021 to €10,656
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€66,300
Gross operating margin
-€63,336
Depreciation
-€1,620
Other operating charges
-€230
Other operating items
-€1,034
Financial charges
+€1,365
Taxes
-€1
Result 2025
-€131,157
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€28,310
Investment
-€275,769
Financing
+€300,400
Cash 2024
€22,347
From operations (derived)
-€28,310
Net result for the year
-€131,157
Depreciation
+€118,523
Receivables within one year
+€229,267
Deferred charges and accrued income
-€602
Trade debts
+€24,994
Tax, wage and social debts
+€772
Advances received
+€1,460
Other debts
-€271,568
Investment (derived)
-€275,769
Investment in fixed assets (net)
-€275,769
Financing
+€300,400
Debts after one year
+€300,400
Cash 2025
€18,669
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,740,153 | €1,665,055 | -€75,099 | -4.3% |
| Fixed assets | 21/28 | €1,484,305 | €1,641,550 | +€157,245 | +10.6% |
| Tangible fixed assets | 22/27 | €1,484,305 | €1,641,550 | +€157,245 | +10.6% |
| Land and buildings | 22 | €1,376,280 | €1,277,510 | -€98,770 | -7.2% |
| Plant, machinery and equipment | 23 | €12,797 | €10,354 | -€2,443 | -19.1% |
| Furniture and vehicles | 24 | €95,227 | €41,938 | -€53,289 | -56.0% |
| Other tangible fixed assets | 26 | - | €311,747 | +€311,747 | |
| Current assets | 29/58 | €255,849 | €23,505 | -€232,344 | -90.8% |
| Amounts receivable within one year | 40/41 | €231,613 | €2,346 | -€229,267 | -99.0% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €231,613 | €2,346 | -€229,267 | -99.0% |
| Cash at bank and in hand | 54/58 | €22,347 | €18,669 | -€3,679 | -16.5% |
| Deferred charges and accrued income | 490/1 | €1,888 | €2,490 | +€602 | +31.9% |
| Total equity and liabilities | 10/49 | €1,740,153 | €1,665,055 | -€75,099 | -4.3% |
| Equity | 10/15 | €544,289 | €413,132 | -€131,157 | -24.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €525,689 | €394,532 | -€131,157 | -24.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €70,368 | €70,368 | = | 0.0% |
| Distributable reserves | 133 | €453,461 | €322,304 | -€131,157 | -28.9% |
| Amounts payable | 17/49 | €1,195,865 | €1,251,922 | +€56,058 | +4.7% |
| Amounts payable after more than one year | 17 | €636,300 | €936,700 | +€300,400 | +47.2% |
| Financial debts | 170/4 | €636,300 | €536,700 | -€99,600 | -15.7% |
| Other amounts payable | 178/9 | - | €400,000 | +€400,000 | |
| Amounts payable within one year | 42/48 | €559,565 | €315,222 | -€244,342 | -43.7% |
| Current portion of amounts payable after more than one year | 42 | €99,600 | €99,600 | = | 0.0% |
| Trade debts | 44 | €261 | €25,255 | +€24,994 | +9,578% |
| Suppliers | 440/4 | €261 | €25,255 | +€24,994 | +9,578% |
| Advances received on contracts in progress | 46 | - | €1,460 | +€1,460 | |
| Taxes, remuneration and social security | 45 | €5,045 | €5,817 | +€772 | +15.3% |
| Taxes | 450/3 | €5,045 | €5,817 | +€772 | +15.3% |
| Other amounts payable | 47/48 | €454,659 | €183,091 | -€271,568 | -59.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €116,903 | €118,523 | +€1,620 | +1.4% |
| Other operating charges | 640/8 | €9,103 | €9,332 | +€230 | +2.5% |
| Non-recurring operating charges | 66A | €1,163 | €2,197 | +€1,034 | +88.9% |
| Gross operating margin | 9900 | €73,029 | €9,693 | -€63,336 | -86.7% |
| Operating profit (loss) | 9901 | -€54,140 | -€120,360 | -€66,220 | -122% |
| Financial charges | 65/66B | €12,021 | €10,656 | -€1,365 | -11.4% |
| Recurring financial charges | 65 | €12,021 | €10,656 | -€1,365 | -11.4% |
| Profit (loss) for the period before taxes | 9903 | -€66,161 | -€131,016 | -€64,855 | -98.0% |
| Income taxes | 67/77 | €140 | €141 | +€1 | +1.0% |
| Profit (loss) for the period | 9904 | -€66,300 | -€131,157 | -€64,856 | -97.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€66,300 | -€131,157 | -€64,856 | -97.8% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.