VB INTERNATIONAL: 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.
VB INTERNATIONAL
Largest movements
- Receivables within one year +€64,672
up €64,672 (+246.6%), from €26,227 to €90,899
of which Trade receivables: +€65,519
- Profit (loss) carried forward +€53,977
up €53,977 (+20.8%), from -€259,215 to -€205,239
- Other debts +€11,170
up €11,170 (+5.2%), from €214,120 to €225,290
- Trade debts -€3,099
down €3,099 (-50.2%), from €6,172 to €3,073
- Tax, wage and social debts +€2,101
new in 2025: €2,101
- Gross operating margin +€59,383
up €59,383, from -€4,635 to €54,748
- Other operating charges -€1,829
down €1,829 (-82.1%), from €2,229 to €400
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 | €26,857 | €91,005 | +€64,148 | +238.8% |
| Fixed assets | 21/28 | €234 | - | -€234 | |
| Tangible fixed assets | 22/27 | €234 | - | -€234 | |
| Land and buildings | 22 | €234 | - | -€234 | |
| Current assets | 29/58 | €26,624 | €91,005 | +€64,382 | +241.8% |
| Amounts receivable within one year | 40/41 | €26,227 | €90,899 | +€64,672 | +246.6% |
| Trade receivables | 40 | €25,371 | €90,889 | +€65,519 | +258.2% |
| Other amounts receivable | 41 | €856 | €10 | -€847 | -98.9% |
| Cash at bank and in hand | 54/58 | €307 | €14 | -€293 | -95.5% |
| Deferred charges and accrued income | 490/1 | €90 | €92 | +€2 | +2.6% |
| Total equity and liabilities | 10/49 | €26,857 | €91,005 | +€64,148 | +238.8% |
| Equity | 10/15 | -€196,877 | -€142,901 | +€53,977 | +27.4% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €365 | €365 | = | 0.0% |
| Non-distributable reserves | 130/1 | €365 | €365 | = | 0.0% |
| Legal reserve | 130 | €365 | €365 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€259,215 | -€205,239 | +€53,977 | +20.8% |
| Amounts payable | 17/49 | €223,734 | €233,906 | +€10,171 | +4.5% |
| Amounts payable within one year | 42/48 | €223,734 | €233,906 | +€10,171 | +4.5% |
| Trade debts | 44 | €6,172 | €3,073 | -€3,099 | -50.2% |
| Suppliers | 440/4 | €6,172 | €3,073 | -€3,099 | -50.2% |
| Advances received on contracts in progress | 46 | €3,442 | €3,442 | = | 0.0% |
| Taxes, remuneration and social security | 45 | - | €2,101 | +€2,101 | |
| Taxes | 450/3 | - | €2,101 | +€2,101 | |
| Other amounts payable | 47/48 | €214,120 | €225,290 | +€11,170 | +5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €234 | €234 | +€0 | 0.0% |
| Other operating charges | 640/8 | €2,229 | €400 | -€1,829 | -82.1% |
| Gross operating margin | 9900 | -€4,635 | €54,748 | +€59,383 | |
| Operating profit (loss) | 9901 | -€7,097 | €54,115 | +€61,212 | |
| Financial charges | 65/66B | €214 | €139 | -€75 | -35.2% |
| Recurring financial charges | 65 | €214 | €139 | -€75 | -35.2% |
| Profit (loss) for the period before taxes | 9903 | -€7,311 | €53,977 | +€61,287 | |
| Profit (loss) for the period | 9904 | -€7,311 | €53,977 | +€61,287 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,311 | €53,977 | +€61,287 |
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 11 October 2026 via checked.be.