VB Maintenance: 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 Maintenance
Largest movements
- Tangible fixed assets +€126,015
up €126,015 (+48.6%), from €259,522 to €385,537
of which Furniture and vehicles: +€134,047
- Stocks and contracts +€54,353
up €54,353 (+31.8%), from €170,713 to €225,065
- Cash +€45,811
up €45,811 (+66.9%), from €68,470 to €114,281
mainly Debts after one year (+€138,423) and Depreciation (+€99,468)
- Receivables within one year -€28,510
down €28,510 (-17.9%), from €159,595 to €131,085
of which Trade receivables: -€39,789
- Debts after one year +€138,423
up €138,423 (+107%), from €129,550 to €267,973
- Reserves -€82,300
down €82,300 (-39.3%), from €209,400 to €127,100
- Short-term financial debts +€60,000
up €60,000, from €0 to €60,000
- Other debts +€44,343
up €44,343 (+28.1%), from €157,758 to €202,101
- Tax, wage and social debts +€44,185
up €44,185 (+197%), from €22,463 to €66,648
of which Taxes: +€37,812
- Depreciation +€40,361
up €40,361 (+68.3%), from €59,107 to €99,468
- Gross operating margin -€24,862
down €24,862 (-10.8%), from €230,000 to €205,138
- Taxes -€18,654
down €18,654 (-82.8%), from €22,536 to €3,883
- Staff costs +€10,414
up €10,414 (+21.3%), from €48,834 to €59,247
- Financial charges -€9,059
down €9,059 (-40.9%), from €22,165 to €13,107
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 | €661,360 | €858,194 | +€196,834 | +29.8% |
| Fixed assets | 21/28 | €260,022 | €386,037 | +€126,015 | +48.5% |
| Tangible fixed assets | 22/27 | €259,522 | €385,537 | +€126,015 | +48.6% |
| Land and buildings | 22 | €57,040 | €56,359 | -€681 | -1.2% |
| Plant, machinery and equipment | 23 | €46,212 | €38,861 | -€7,351 | -15.9% |
| Furniture and vehicles | 24 | €156,270 | €290,318 | +€134,047 | +85.8% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €401,339 | €472,157 | +€70,819 | +17.6% |
| Stocks and contracts in progress | 3 | €170,713 | €225,065 | +€54,353 | +31.8% |
| Stocks | 30/36 | €170,713 | €225,065 | +€54,353 | +31.8% |
| Amounts receivable within one year | 40/41 | €159,595 | €131,085 | -€28,510 | -17.9% |
| Trade receivables | 40 | €154,757 | €114,968 | -€39,789 | -25.7% |
| Other amounts receivable | 41 | €4,839 | €16,117 | +€11,279 | +233% |
| Cash at bank and in hand | 54/58 | €68,470 | €114,281 | +€45,811 | +66.9% |
| Deferred charges and accrued income | 490/1 | €2,561 | €1,726 | -€835 | -32.6% |
| Total equity and liabilities | 10/49 | €661,360 | €858,194 | +€196,834 | +29.8% |
| Equity | 10/15 | €219,631 | €137,347 | -€82,284 | -37.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €209,400 | €127,100 | -€82,300 | -39.3% |
| Distributable reserves | 133 | €209,400 | €127,100 | -€82,300 | -39.3% |
| Profit (loss) carried forward | 14 | €231 | €247 | +€16 | +6.8% |
| Amounts payable | 17/49 | €441,729 | €720,847 | +€279,118 | +63.2% |
| Amounts payable after more than one year | 17 | €129,550 | €267,973 | +€138,423 | +107% |
| Financial debts | 170/4 | €129,550 | €267,973 | +€138,423 | +107% |
| Amounts payable within one year | 42/48 | €299,068 | €446,225 | +€147,157 | +49.2% |
| Current portion of amounts payable after more than one year | 42 | €49,443 | €81,377 | +€31,934 | +64.6% |
| Financial debts | 43 | €0 | €60,000 | +€60,000 | |
| Credit institutions | 430/8 | €0 | €60,000 | +€60,000 | |
| Trade debts | 44 | €69,403 | €36,099 | -€33,304 | -48.0% |
| Suppliers | 440/4 | €69,403 | €36,099 | -€33,304 | -48.0% |
| Taxes, remuneration and social security | 45 | €22,463 | €66,648 | +€44,185 | +197% |
| Taxes | 450/3 | €15,762 | €53,574 | +€37,812 | +240% |
| Remuneration and social security | 454/9 | €6,701 | €13,074 | +€6,373 | +95.1% |
| Other amounts payable | 47/48 | €157,758 | €202,101 | +€44,343 | +28.1% |
| Accrued charges and deferred income | 492/3 | €13,112 | €6,650 | -€6,462 | -49.3% |
| Remuneration, social security and pensions | 62 | €48,834 | €59,247 | +€10,414 | +21.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,107 | €99,468 | +€40,361 | +68.3% |
| Other operating charges | 640/8 | €9,231 | €6,018 | -€3,213 | -34.8% |
| Gross operating margin | 9900 | €230,000 | €205,138 | -€24,862 | -10.8% |
| Operating profit (loss) | 9901 | €112,829 | €40,405 | -€72,423 | -64.2% |
| Financial charges | 65/66B | €22,165 | €13,107 | -€9,059 | -40.9% |
| Recurring financial charges | 65 | €22,165 | €13,107 | -€9,059 | -40.9% |
| Profit (loss) for the period before taxes | 9903 | €90,663 | €27,299 | -€63,365 | -69.9% |
| Income taxes | 67/77 | €22,536 | €3,883 | -€18,654 | -82.8% |
| Profit (loss) for the period | 9904 | €68,127 | €23,416 | -€44,711 | -65.6% |
| Profit (loss) for the period to be appropriated | 9905 | €68,127 | €23,416 | -€44,711 | -65.6% |
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 14 October 2026 via checked.be.