VB INVEST: 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 INVEST
Largest movements
- Cash +€72,353
up €72,353 (+216%), from €33,444 to €105,797
mainly Net result for the year (+€154,237) and Depreciation (+€30,665)
- Tangible fixed assets -€30,665
down €30,665 (-9.9%), from €308,807 to €278,142
- Reserves +€34,237
up €34,237 (+41.3%), from €82,973 to €117,211
- Tax, wage and social debts +€8,971
up €8,971 (+273%), from €3,284 to €12,255
- Financial income -€4,642
down €4,642 (-97.4%), from €4,768 to €126
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.
Derived cash bridge
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 | €360,456 | €405,846 | +€45,390 | +12.6% |
| Fixed assets | 21/28 | €308,807 | €278,142 | -€30,665 | -9.9% |
| Tangible fixed assets | 22/27 | €308,807 | €278,142 | -€30,665 | -9.9% |
| Land and buildings | 22 | €308,807 | €278,142 | -€30,665 | -9.9% |
| Current assets | 29/58 | €51,649 | €127,705 | +€76,056 | +147% |
| Amounts receivable within one year | 40/41 | €18,205 | €21,907 | +€3,703 | +20.3% |
| Trade receivables | 40 | €3,557 | €3,771 | +€213 | +6.0% |
| Other amounts receivable | 41 | €14,647 | €18,137 | +€3,489 | +23.8% |
| Cash at bank and in hand | 54/58 | €33,444 | €105,797 | +€72,353 | +216% |
| Total equity and liabilities | 10/49 | €360,456 | €405,846 | +€45,390 | +12.6% |
| Equity | 10/15 | €102,973 | €137,211 | +€34,237 | +33.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €82,973 | €117,211 | +€34,237 | +41.3% |
| Distributable reserves | 133 | €82,973 | €117,211 | +€34,237 | +41.3% |
| Amounts payable | 17/49 | €257,482 | €268,636 | +€11,153 | +4.3% |
| Amounts payable within one year | 42/48 | €257,408 | €268,636 | +€11,228 | +4.4% |
| Trade debts | 44 | €4,124 | €5,991 | +€1,867 | +45.3% |
| Suppliers | 440/4 | €4,124 | €5,991 | +€1,867 | +45.3% |
| Taxes, remuneration and social security | 45 | €3,284 | €12,255 | +€8,971 | +273% |
| Taxes | 450/3 | €3,284 | €12,255 | +€8,971 | +273% |
| Other amounts payable | 47/48 | €250,000 | €250,390 | +€390 | +0.2% |
| Accrued charges and deferred income | 492/3 | €75 | - | -€75 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,255 | €30,665 | +€411 | +1.4% |
| Other operating charges | 640/8 | €6,689 | €6,895 | +€207 | +3.1% |
| Gross operating margin | 9900 | €241,505 | €243,230 | +€1,725 | +0.7% |
| Operating profit (loss) | 9901 | €204,562 | €205,669 | +€1,108 | +0.5% |
| Financial income | 75/76B | €4,768 | €126 | -€4,642 | -97.4% |
| Recurring financial income | 75 | €4,768 | €126 | -€4,642 | -97.4% |
| Financial charges | 65/66B | €334 | €146 | -€188 | -56.3% |
| Recurring financial charges | 65 | €334 | €146 | -€188 | -56.3% |
| Profit (loss) for the period before taxes | 9903 | €208,996 | €205,650 | -€3,346 | -1.6% |
| Income taxes | 67/77 | €51,861 | €51,412 | -€449 | -0.9% |
| Profit (loss) for the period | 9904 | €157,135 | €154,237 | -€2,898 | -1.8% |
| Profit (loss) for the period to be appropriated | 9905 | €157,135 | €154,237 | -€2,898 | -1.8% |
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 20 October 2026 via checked.be.