VB Line: 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 Line
Largest movements
- Cash +€136,729
up €136,729 (+41.8%), from €326,865 to €463,595
mainly Net result for the year (+€203,485) and Depreciation (+€163,745)
- Tangible fixed assets +€57,180
up €57,180 (+13.6%), from €420,204 to €477,384
of which Leasing and similar rights: +€53,069
- Deferred charges and accrued income +€20,468
up €20,468 (+295.2%), from €6,935 to €27,402
- Receivables within one year -€20,341
down €20,341 (-4.4%), from €464,537 to €444,196
of which Trade receivables: -€36,255
- Reserves +€203,485
up €203,485 (+27.2%), from €747,215 to €950,700
of which Distributable reserves: +€203,485
- Tax, wage and social debts -€28,089
down €28,089 (-30.5%), from €92,025 to €63,936
of which Taxes: -€58,378
- Trade debts -€22,986
down €22,986 (-45.3%), from €50,690 to €27,704
- Debts after one year +€17,289
up €17,289 (+8.7%), from €199,411 to €216,700
- Staff costs +€125,939
up €125,939 (+34.6%), from €363,518 to €489,457
- Gross operating margin +€124,626
up €124,626 (+14.5%), from €857,840 to €982,466
- Depreciation +€36,536
up €36,536 (+28.7%), from €127,209 to €163,745
- Taxes -€12,309
down €12,309 (-11.3%), from €109,041 to €96,732
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 | €1,297,335 | €1,481,872 | +€184,536 | +14.2% |
| Fixed assets | 21/28 | €426,999 | €482,679 | +€55,680 | +13.0% |
| Intangible fixed assets | 21 | €6,375 | €4,875 | -€1,500 | -23.5% |
| Tangible fixed assets | 22/27 | €420,204 | €477,384 | +€57,180 | +13.6% |
| Plant, machinery and equipment | 23 | €23,600 | €49,912 | +€26,312 | +111.5% |
| Furniture and vehicles | 24 | €79,404 | €57,203 | -€22,201 | -28.0% |
| Leasing and similar rights | 25 | €317,200 | €370,269 | +€53,069 | +16.7% |
| Financial fixed assets | 28 | €420 | €420 | = | 0.0% |
| Current assets | 29/58 | €870,337 | €999,193 | +€128,856 | +14.8% |
| Amounts receivable after more than one year | 29 | €72,000 | €64,000 | -€8,000 | -11.1% |
| Other amounts receivable | 291 | €72,000 | €64,000 | -€8,000 | -11.1% |
| Amounts receivable within one year | 40/41 | €464,537 | €444,196 | -€20,341 | -4.4% |
| Trade receivables | 40 | €464,537 | €428,282 | -€36,255 | -7.8% |
| Other amounts receivable | 41 | - | €15,914 | +€15,914 | |
| Cash at bank and in hand | 54/58 | €326,865 | €463,595 | +€136,729 | +41.8% |
| Deferred charges and accrued income | 490/1 | €6,935 | €27,402 | +€20,468 | +295.2% |
| Total equity and liabilities | 10/49 | €1,297,335 | €1,481,872 | +€184,536 | +14.2% |
| Equity | 10/15 | €765,807 | €969,292 | +€203,485 | +26.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €747,215 | €950,700 | +€203,485 | +27.2% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €747,215 | €950,700 | +€203,485 | +27.2% |
| Amounts payable | 17/49 | €531,529 | €512,580 | -€18,949 | -3.6% |
| Amounts payable after more than one year | 17 | €199,411 | €216,700 | +€17,289 | +8.7% |
| Financial debts | 170/4 | €199,411 | €216,700 | +€17,289 | +8.7% |
| Amounts payable within one year | 42/48 | €331,618 | €295,630 | -€35,988 | -10.9% |
| Current portion of amounts payable after more than one year | 42 | €127,928 | €137,163 | +€9,235 | +7.2% |
| Financial debts | 43 | €60,329 | €66,827 | +€6,498 | +10.8% |
| Credit institutions | 430/8 | €60,329 | €66,827 | +€6,498 | +10.8% |
| Trade debts | 44 | €50,690 | €27,704 | -€22,986 | -45.3% |
| Suppliers | 440/4 | €50,690 | €27,704 | -€22,986 | -45.3% |
| Taxes, remuneration and social security | 45 | €92,025 | €63,936 | -€28,089 | -30.5% |
| Taxes | 450/3 | €78,778 | €20,400 | -€58,378 | -74.1% |
| Remuneration and social security | 454/9 | €13,247 | €43,536 | +€30,289 | +228.7% |
| Other amounts payable | 47/48 | €646 | €0 | -€646 | -100.0% |
| Accrued charges and deferred income | 492/3 | €500 | €250 | -€250 | -50.0% |
| Non-recurring operating income | 76A | €19,000 | €27,526 | +€8,526 | +44.9% |
| Remuneration, social security and pensions | 62 | €363,518 | €489,457 | +€125,939 | +34.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €127,209 | €163,745 | +€36,536 | +28.7% |
| Other operating charges | 640/8 | €1,621 | €6,839 | +€5,218 | +322.0% |
| Non-recurring operating charges | 66A | €16 | €0 | -€16 | -100.0% |
| Gross operating margin | 9900 | €857,840 | €982,466 | +€124,626 | +14.5% |
| Operating profit (loss) | 9901 | €365,476 | €322,425 | -€43,051 | -11.8% |
| Financial income | 75/76B | €3,679 | €5,452 | +€1,773 | +48.2% |
| Recurring financial income | 75 | €3,679 | €5,452 | +€1,773 | +48.2% |
| Financial charges | 65/66B | €23,249 | €27,660 | +€4,412 | +19.0% |
| Recurring financial charges | 65 | €23,249 | €27,660 | +€4,412 | +19.0% |
| Profit (loss) for the period before taxes | 9903 | €345,907 | €300,217 | -€45,689 | -13.2% |
| Income taxes | 67/77 | €109,041 | €96,732 | -€12,309 | -11.3% |
| Profit (loss) for the period | 9904 | €236,866 | €203,485 | -€33,380 | -14.1% |
| Profit (loss) for the period to be appropriated | 9905 | €236,866 | €203,485 | -€33,380 | -14.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.