VB PROPERTIES: 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 PROPERTIES
Largest movements
- Tangible fixed assets -€30,886
down €30,886 (-3.8%), from €817,784 to €786,898
of which Land and buildings: -€29,112
- Debts after one year -€51,445
down €51,445 (-8.8%), from €583,048 to €531,603
- Reserves +€14,000
up €14,000 (+21.1%), from €66,500 to €80,500
- Trade debts +€11,649
up €11,649 (+244.1%), from €4,772 to €16,421
- Gross operating margin -€51,506
down €51,506 (-41.8%), from €123,350 to €71,844
- Taxes -€14,281
down €14,281 (-70.5%), from €20,259 to €5,977
- Other operating charges +€5,884
up €5,884 (+84.0%), from €7,001 to €12,885
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 | €841,174 | €812,920 | -€28,253 | -3.4% |
| Formation expenses | 20 | €643 | €212 | -€432 | -67.1% |
| Fixed assets | 21/28 | €817,784 | €786,898 | -€30,886 | -3.8% |
| Tangible fixed assets | 22/27 | €817,784 | €786,898 | -€30,886 | -3.8% |
| Land and buildings | 22 | €807,506 | €778,394 | -€29,112 | -3.6% |
| Furniture and vehicles | 24 | €10,278 | €8,504 | -€1,774 | -17.3% |
| Current assets | 29/58 | €22,746 | €25,811 | +€3,065 | +13.5% |
| Amounts receivable within one year | 40/41 | €11,424 | €18,888 | +€7,463 | +65.3% |
| Trade receivables | 40 | €11,417 | €18,880 | +€7,463 | +65.4% |
| Other amounts receivable | 41 | €8 | €8 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €11,322 | €6,923 | -€4,399 | -38.9% |
| Total equity and liabilities | 10/49 | €841,174 | €812,920 | -€28,253 | -3.4% |
| Equity | 10/15 | €156,915 | €170,912 | +€13,997 | +8.9% |
| Contributions | 10/11 | €90,000 | €90,000 | = | 0.0% |
| Reserves | 13 | €66,500 | €80,500 | +€14,000 | +21.1% |
| Distributable reserves | 133 | €66,500 | €80,500 | +€14,000 | +21.1% |
| Profit (loss) carried forward | 14 | €415 | €412 | -€3 | -0.7% |
| Amounts payable | 17/49 | €684,259 | €642,008 | -€42,250 | -6.2% |
| Amounts payable after more than one year | 17 | €583,048 | €531,603 | -€51,445 | -8.8% |
| Financial debts | 170/4 | €583,048 | €531,603 | -€51,445 | -8.8% |
| Amounts payable within one year | 42/48 | €100,556 | €109,803 | +€9,247 | +9.2% |
| Current portion of amounts payable after more than one year | 42 | €50,812 | €51,445 | +€634 | +1.2% |
| Trade debts | 44 | €4,772 | €16,421 | +€11,649 | +244.1% |
| Suppliers | 440/4 | €4,772 | €16,421 | +€11,649 | +244.1% |
| Taxes, remuneration and social security | 45 | €20,692 | €23,231 | +€2,539 | +12.3% |
| Taxes | 450/3 | €20,692 | €23,231 | +€2,539 | +12.3% |
| Other amounts payable | 47/48 | €24,280 | €18,706 | -€5,574 | -23.0% |
| Accrued charges and deferred income | 492/3 | €655 | €602 | -€53 | -8.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,307 | €31,318 | +€11 | 0.0% |
| Other operating charges | 640/8 | €7,001 | €12,885 | +€5,884 | +84.0% |
| Non-recurring operating charges | 66A | €484 | - | -€484 | |
| Gross operating margin | 9900 | €123,350 | €71,844 | -€51,506 | -41.8% |
| Operating profit (loss) | 9901 | €84,558 | €27,641 | -€56,916 | -67.3% |
| Financial income | 75/76B | €4 | €51 | +€48 | +1221.3% |
| Recurring financial income | 75 | €4 | €51 | +€48 | +1221.3% |
| Financial charges | 65/66B | €8,765 | €7,718 | -€1,046 | -11.9% |
| Recurring financial charges | 65 | €8,765 | €7,718 | -€1,046 | -11.9% |
| Profit (loss) for the period before taxes | 9903 | €75,797 | €19,974 | -€55,822 | -73.6% |
| Income taxes | 67/77 | €20,259 | €5,977 | -€14,281 | -70.5% |
| Profit (loss) for the period | 9904 | €55,538 | €13,997 | -€41,541 | -74.8% |
| Profit (loss) for the period to be appropriated | 9905 | €55,538 | €13,997 | -€41,541 | -74.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.