VB Belgium: what changed
What changed
VB Belgium
NACE 23.610, Manufacture of other non-metallic mineral products
filed annual accounts (NBB)
Net result for the year
-€698,733
2024 · -€531,068-€167,665
Equity
€2.9m
2024 · €3.6m-€698,733
Cash
€283,043
2024 · €330,950-€47,908
Balance sheet total
€12.1m
2024 · €13.7m-€1.5m
Largest movements
Assets
- Financial fixed assets +€2.9m
up €2.9m (+19,058%), from €15,215 to €2.9m
of which Affiliated companies: +€2.9m
- Receivables within one year -€2.7m
down €2.7m (-53.1%), from €5.1m to €2.4m
of which Other amounts receivable: -€2.9m
- Stocks and contracts -€999,108
down €999,108 (-26.6%), from €3.8m to €2.8m
- Tangible fixed assets -€752,331
down €752,331 (-17.1%), from €4.4m to €3.6m
of which Land and buildings: -€719,466
Equity and liabilities
- Profit (loss) carried forward -€698,733
down €698,733 (-15.5%), from -€4.5m to -€5.2m
- Debts after one year -€655,803
down €655,803 (-13.2%), from €5.0m to €4.3m
- Revaluation surpluses -€517,689
down €517,689 (-24.6%), from €2.1m to €1.6m
- Reserves +€517,689
up €517,689 (+8.7%), from €6.0m to €6.5m
of which Distributable reserves: +€517,689
Income statement
- Goods and materials -€408,609
down €408,609 (-8.7%), from €4.7m to €4.3m
of which Purchases: -€453,371
- Services and other goods -€393,911
down €393,911 (-12.3%), from €3.2m to €2.8m
- Staff costs -€341,326
down €341,326 (-10.8%), from €3.2m to €2.8m
- Turnover -€291,458
down €291,458 (-2.5%), from €11.7m to €11.4m
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
-€531,068
Turnover
-€291,458
Other operating income
-€53,581
Goods and materials
+€408,609
Services and other goods
+€393,911
Staff costs
+€341,326
Depreciation
+€14,185
Write-downs
+€21,645
Other operating charges
-€22,831
Other operating items
-€1.0m
Financial income
-€4,898
Financial charges
+€59,713
Taxes
+€623
Result 2025
-€698,733
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
+€3.8m
Investment
-€3.1m
Financing
-€742,903
Cash 2024
€330,950
From operations (derived)
+€3.8m
Net result for the year
-€698,733
Depreciation
+€968,063
Stocks and contracts
+€999,108
Receivables within one year
+€2.7m
Deferred charges and accrued income
-€54,246
Trade debts
-€22,594
Tax, wage and social debts
-€49,154
Smaller working-capital items
+€2,558
Other debts
-€37,153
Investment (derived)
-€3.1m
Investment in fixed assets (net)
-€3.1m
Financing
-€742,903
Debts after one year
-€655,803
Current portion of long-term debt
-€237
Short-term financial debts
-€86,862
Cash 2025
€283,043
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €13,664,663 | €12,116,684 | -€1.5m | -11.3% |
| Fixed assets | 21/28 | €4,409,625 | €6,557,078 | +€2.1m | +48.7% |
| Tangible fixed assets | 22/27 | €4,394,409 | €3,642,078 | -€752,331 | -17.1% |
| Land and buildings | 22 | €3,748,776 | €3,029,310 | -€719,466 | -19.2% |
| Plant, machinery and equipment | 23 | €243,489 | €222,750 | -€20,739 | -8.5% |
| Furniture and vehicles | 24 | €208,119 | €257,501 | +€49,383 | +23.7% |
| Leasing and similar rights | 25 | €194,026 | €132,517 | -€61,509 | -31.7% |
| Financial fixed assets | 28 | €15,215 | €2,915,000 | +€2.9m | +19,058% |
| Affiliated companies | 280/1 | €215 | €2,900,000 | +€2.9m | +1,347,484% |
| Participating interests | 280 | €215 | €0 | -€215 | -100% |
| Amounts receivable | 281 | - | €2,900,000 | +€2.9m | |
| Other financial fixed assets | 284/8 | €15,000 | €15,000 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €15,000 | €15,000 | = | 0.0% |
| Current assets | 29/58 | €9,255,038 | €5,559,606 | -€3.7m | -39.9% |
| Stocks and contracts in progress | 3 | €3,759,767 | €2,760,658 | -€999,108 | -26.6% |
| Stocks | 30/36 | €3,759,767 | €2,760,658 | -€999,108 | -26.6% |
| Raw materials and consumables | 30/31 | €893,463 | €787,103 | -€106,360 | -11.9% |
| Finished goods | 33 | €2,866,304 | €1,973,555 | -€892,749 | -31.1% |
| Amounts receivable within one year | 40/41 | €5,085,256 | €2,382,594 | -€2.7m | -53.1% |
| Trade receivables | 40 | €2,018,250 | €2,168,143 | +€149,893 | +7.4% |
| Other amounts receivable | 41 | €3,067,006 | €214,451 | -€2.9m | -93.0% |
| Cash at bank and in hand | 54/58 | €330,950 | €283,043 | -€47,908 | -14.5% |
| Deferred charges and accrued income | 490/1 | €79,065 | €133,311 | +€54,246 | +68.6% |
| Total equity and liabilities | 10/49 | €13,664,663 | €12,116,684 | -€1.5m | -11.3% |
| Equity | 10/15 | €3,640,217 | €2,941,484 | -€698,733 | -19.2% |
| Contributions | 10/11 | €95,000 | €95,000 | = | 0.0% |
| Capital | 10 | €95,000 | €95,000 | = | 0.0% |
| Issued capital | 100 | €95,000 | €95,000 | = | 0.0% |
| Revaluation surpluses | 12 | €2,105,850 | €1,588,161 | -€517,689 | -24.6% |
| Reserves | 13 | €5,953,512 | €6,471,200 | +€517,689 | +8.7% |
| Non-distributable reserves | 130/1 | €9,500 | €9,500 | = | 0.0% |
| Legal reserve | 130 | €9,500 | €9,500 | = | 0.0% |
| Distributable reserves | 133 | €5,944,012 | €6,461,700 | +€517,689 | +8.7% |
| Profit (loss) carried forward | 14 | -€4,514,145 | -€5,212,878 | -€698,733 | -15.5% |
| Amounts payable | 17/49 | €10,024,446 | €9,175,200 | -€849,246 | -8.5% |
| Amounts payable after more than one year | 17 | €4,980,806 | €4,325,002 | -€655,803 | -13.2% |
| Financial debts | 170/4 | €4,980,806 | €4,325,002 | -€655,803 | -13.2% |
| Leasing and similar obligations | 172 | €130,806 | €75,004 | -€55,801 | -42.7% |
| Credit institutions | 173 | €4,850,000 | €4,249,998 | -€600,002 | -12.4% |
| Amounts payable within one year | 42/48 | €5,020,663 | €4,825,079 | -€195,584 | -3.9% |
| Current portion of amounts payable after more than one year | 42 | €654,997 | €654,760 | -€237 | 0.0% |
| Financial debts | 43 | €2,657,661 | €2,570,799 | -€86,862 | -3.3% |
| Credit institutions | 430/8 | €2,657,661 | €2,570,799 | -€86,862 | -3.3% |
| Trade debts | 44 | €917,265 | €894,671 | -€22,594 | -2.5% |
| Suppliers | 440/4 | €917,265 | €894,671 | -€22,594 | -2.5% |
| Advances received on contracts in progress | 46 | €94,199 | €94,616 | +€417 | +0.4% |
| Taxes, remuneration and social security | 45 | €549,972 | €500,818 | -€49,154 | -8.9% |
| Taxes | 450/3 | €121,858 | €113,572 | -€8,286 | -6.8% |
| Remuneration and social security | 454/9 | €428,115 | €387,246 | -€40,868 | -9.5% |
| Other amounts payable | 47/48 | €146,568 | €109,415 | -€37,153 | -25.3% |
| Accrued charges and deferred income | 492/3 | €22,978 | €25,119 | +€2,141 | +9.3% |
| Operating income | 70/76A | €12,050,210 | €10,682,052 | -€1.4m | -11.4% |
| Turnover | 70 | €11,727,882 | €11,436,424 | -€291,458 | -2.5% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €57,825 | -€892,749 | -€950,574 | |
| Own construction capitalised | 72 | €55,240 | €0 | -€55,240 | -100% |
| Other operating income | 74 | €173,505 | €119,924 | -€53,581 | -30.9% |
| Non-recurring operating income | 76A | €35,756 | €18,452 | -€17,305 | -48.4% |
| Operating charges | 60/66A | €12,177,863 | €11,032,808 | -€1.1m | -9.4% |
| Goods for resale, raw materials and consumables | 60 | €4,716,538 | €4,307,929 | -€408,609 | -8.7% |
| Purchases | 600/8 | €4,654,941 | €4,201,569 | -€453,371 | -9.7% |
| Change in stocks: decrease (increase) | 609 | €61,598 | €106,360 | +€44,762 | +72.7% |
| Services and other goods | 61 | €3,208,878 | €2,814,966 | -€393,911 | -12.3% |
| Remuneration, social security and pensions | 62 | €3,171,463 | €2,830,137 | -€341,326 | -10.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €982,248 | €968,063 | -€14,185 | -1.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€21,645 | -€21,645 | |
| Other operating charges | 640/8 | €95,726 | €118,557 | +€22,831 | +23.9% |
| Non-recurring operating charges | 66A | €3,010 | €14,800 | +€11,790 | +392% |
| Operating profit (loss) | 9901 | -€127,653 | -€350,756 | -€223,103 | -175% |
| Financial income | 75/76B | €71,304 | €66,407 | -€4,898 | -6.9% |
| Recurring financial income | 75 | €71,304 | €66,407 | -€4,898 | -6.9% |
| Income from current assets | 751 | €60,261 | €61,682 | +€1,421 | +2.4% |
| Other financial income | 752/9 | €11,044 | €4,725 | -€6,319 | -57.2% |
| Financial charges | 65/66B | €470,529 | €410,816 | -€59,713 | -12.7% |
| Recurring financial charges | 65 | €470,529 | €410,601 | -€59,928 | -12.7% |
| Debt charges | 650 | €430,557 | €373,519 | -€57,038 | -13.2% |
| Other financial charges | 652/9 | €39,971 | €37,081 | -€2,890 | -7.2% |
| Non-recurring financial charges | 66B | - | €215 | +€215 | |
| Profit (loss) for the period before taxes | 9903 | -€526,878 | -€695,165 | -€168,287 | -31.9% |
| Income taxes | 67/77 | €4,190 | €3,567 | -€623 | -14.9% |
| Taxes | 670/3 | €4,190 | €3,567 | -€623 | -14.9% |
| Profit (loss) for the period | 9904 | -€531,068 | -€698,733 | -€167,665 | -31.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€531,068 | -€698,733 | -€167,665 | -31.6% |
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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 8 November 2026 via checked.be.