VB PROJECTS: what changed
Two fiscal 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 PROJECTS
Largest movements
- Receivables within one year +€32,381
up €32,381 (+354.0%), from €9,147 to €41,528
of which Trade receivables: +€34,730
- Cash +€18,375
up €18,375 (+483.6%), from €3,800 to €22,175
mainly Net result for the year (+€31,066) and Trade debts (+€16,185)
- Profit (loss) carried forward +€31,066
up €31,066 (+29.7%), from -€104,529 to -€73,463
- Trade debts +€16,185
up €16,185 (+360.6%), from €4,488 to €20,673
- Tax, wage and social debts +€10,993
up €10,993 (+1775.9%), from €619 to €11,612
of which Taxes: +€11,564
- Short-term financial debts -€4,813
no longer reported in 2024 (was €4,813)
- Other debts -€2,628
down €2,628 (-3.0%), from €86,647 to €84,019
- Gross operating margin +€70,929
up €70,929, from -€30,658 to €40,271
- Staff costs +€3,796
up €3,796 (+158.2%), from €2,400 to €6,196
- Depreciation -€817
down €817 (-69.5%), from €1,176 to €359
- Other operating charges -€691
down €691 (-35.6%), from €1,943 to €1,252
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €14,603 | €64,386 | +€49,783 | +340.9% |
| Fixed assets | 21/28 | €1,015 | €679 | -€336 | -33.1% |
| Tangible fixed assets | 22/27 | €600 | €241 | -€359 | -59.8% |
| Other tangible fixed assets | 26 | €600 | €241 | -€359 | -59.8% |
| Financial fixed assets | 28 | €415 | €438 | +€23 | +5.5% |
| Current assets | 29/58 | €13,588 | €63,707 | +€50,119 | +368.8% |
| Amounts receivable within one year | 40/41 | €9,147 | €41,528 | +€32,381 | +354.0% |
| Trade receivables | 40 | €6,740 | €41,470 | +€34,730 | +515.3% |
| Other amounts receivable | 41 | €2,407 | €58 | -€2,349 | -97.6% |
| Cash at bank and in hand | 54/58 | €3,800 | €22,175 | +€18,375 | +483.6% |
| Deferred charges and accrued income | 490/1 | €641 | €4 | -€637 | -99.4% |
| Total equity and liabilities | 10/49 | €14,603 | €64,386 | +€49,783 | +340.9% |
| Equity | 10/15 | -€82,984 | -€51,918 | +€31,066 | +37.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €2,953 | €2,953 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €1,094 | €1,094 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€104,529 | -€73,463 | +€31,066 | +29.7% |
| Amounts payable | 17/49 | €97,587 | €116,304 | +€18,717 | +19.2% |
| Amounts payable within one year | 42/48 | €97,587 | €116,304 | +€18,717 | +19.2% |
| Current portion of amounts payable after more than one year | 42 | €1,020 | - | -€1,020 | |
| Financial debts | 43 | €4,813 | - | -€4,813 | |
| Credit institutions | 430/8 | €4,813 | - | -€4,813 | |
| Trade debts | 44 | €4,488 | €20,673 | +€16,185 | +360.6% |
| Suppliers | 440/4 | €4,488 | €20,673 | +€16,185 | +360.6% |
| Taxes, remuneration and social security | 45 | €619 | €11,612 | +€10,993 | +1775.9% |
| Taxes | 450/3 | - | €11,564 | +€11,564 | |
| Remuneration and social security | 454/9 | €619 | €48 | -€571 | -92.2% |
| Other amounts payable | 47/48 | €86,647 | €84,019 | -€2,628 | -3.0% |
| Remuneration, social security and pensions | 62 | €2,400 | €6,196 | +€3,796 | +158.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,176 | €359 | -€817 | -69.5% |
| Other operating charges | 640/8 | €1,943 | €1,252 | -€691 | -35.6% |
| Gross operating margin | 9900 | -€30,658 | €40,271 | +€70,929 | |
| Operating profit (loss) | 9901 | -€36,177 | €32,464 | +€68,641 | |
| Financial income | 75/76B | €7 | - | -€7 | |
| Recurring financial income | 75 | €7 | - | -€7 | |
| Financial charges | 65/66B | €725 | €1,017 | +€292 | +40.3% |
| Recurring financial charges | 65 | €725 | €1,017 | +€292 | +40.3% |
| Profit (loss) for the period before taxes | 9903 | -€36,895 | €31,447 | +€68,342 | |
| Income taxes | 67/77 | €345 | €381 | +€36 | +10.4% |
| Profit (loss) for the period | 9904 | -€37,240 | €31,066 | +€68,306 | |
| Profit (loss) for the period to be appropriated | 9905 | -€37,240 | €31,066 | +€68,306 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.