VB GROUP: what changed
VB GROUP
Largest movements
- Cash +€13,609
up €13,609 (+50.0%), from €27,218 to €40,827
mainly Net result for the year (+€20,780) and Receivables within one year (+€5,930)
- Receivables within one year -€5,930
down €5,930 (-55.7%), from €10,648 to €4,718
of which Trade receivables: -€3,280
- Tangible fixed assets +€1,235
up €1,235 (+10.3%), from €11,964 to €13,199
of which Furniture and vehicles: +€2,687
- Profit (loss) carried forward +€12,780
up €12,780 (+89.5%), from €14,272 to €27,051
- Tax, wage and social debts -€3,807
down €3,807 (-89.8%), from €4,239 to €432
- Other debts +€2,234
up €2,234 (+12.8%), from €17,500 to €19,734
- Trade debts -€1,975
down €1,975 (-42.1%), from €4,693 to €2,718
- Gross operating margin -€10,267
down €10,267 (-26.8%), from €38,277 to €28,010
- Depreciation +€1,050
up €1,050 (+110%), from €955 to €2,005
- Other operating charges -€520
down €520 (-26.1%), from €1,994 to €1,474
- Financial charges +€410
up €410 (+12,860%), from €3 to €413
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €50,704 | €59,935 | +€9,231 | +18.2% |
| Fixed assets | 21/28 | €11,964 | €13,199 | +€1,235 | +10.3% |
| Tangible fixed assets | 22/27 | €11,964 | €13,199 | +€1,235 | +10.3% |
| Land and buildings | 22 | €6,795 | €6,063 | -€732 | -10.8% |
| Plant, machinery and equipment | 23 | €5,169 | €4,449 | -€719 | -13.9% |
| Furniture and vehicles | 24 | - | €2,687 | +€2,687 | |
| Current assets | 29/58 | €38,740 | €46,736 | +€7,996 | +20.6% |
| Stocks and contracts in progress | 3 | - | €300 | +€300 | |
| Stocks | 30/36 | - | €300 | +€300 | |
| Amounts receivable within one year | 40/41 | €10,648 | €4,718 | -€5,930 | -55.7% |
| Trade receivables | 40 | €7,998 | €4,718 | -€3,280 | -41.0% |
| Other amounts receivable | 41 | €2,650 | - | -€2,650 | |
| Cash at bank and in hand | 54/58 | €27,218 | €40,827 | +€13,609 | +50.0% |
| Deferred charges and accrued income | 490/1 | €874 | €891 | +€17 | +2.0% |
| Total equity and liabilities | 10/49 | €50,704 | €59,935 | +€9,231 | +18.2% |
| Equity | 10/15 | €24,272 | €37,051 | +€12,780 | +52.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,272 | €27,051 | +€12,780 | +89.5% |
| Amounts payable | 17/49 | €26,432 | €22,884 | -€3,548 | -13.4% |
| Amounts payable within one year | 42/48 | €26,432 | €22,884 | -€3,548 | -13.4% |
| Trade debts | 44 | €4,693 | €2,718 | -€1,975 | -42.1% |
| Suppliers | 440/4 | €4,693 | €2,718 | -€1,975 | -42.1% |
| Taxes, remuneration and social security | 45 | €4,239 | €432 | -€3,807 | -89.8% |
| Taxes | 450/3 | €4,239 | €432 | -€3,807 | -89.8% |
| Other amounts payable | 47/48 | €17,500 | €19,734 | +€2,234 | +12.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €955 | €2,005 | +€1,050 | +110% |
| Other operating charges | 640/8 | €1,994 | €1,474 | -€520 | -26.1% |
| Gross operating margin | 9900 | €38,277 | €28,010 | -€10,267 | -26.8% |
| Operating profit (loss) | 9901 | €35,328 | €24,531 | -€10,797 | -30.6% |
| Financial income | 75/76B | €25 | €24 | -€1 | -4.9% |
| Recurring financial income | 75 | €25 | €24 | -€1 | -4.9% |
| Financial charges | 65/66B | €3 | €413 | +€410 | +12,860% |
| Recurring financial charges | 65 | €3 | €413 | +€410 | +12,860% |
| Profit (loss) for the period before taxes | 9903 | €35,349 | €24,141 | -€11,209 | -31.7% |
| Income taxes | 67/77 | €3,578 | €3,361 | -€217 | -6.1% |
| Profit (loss) for the period | 9904 | €31,772 | €20,780 | -€10,992 | -34.6% |
| Profit (loss) for the period to be appropriated | 9905 | €31,772 | €20,780 | -€10,992 | -34.6% |
Next steps
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.