VB-RECREA: 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-RECREA
Largest movements
- Cash +€47,156
up €47,156 (+9.5%), from €496,716 to €543,872
mainly Net result for the year (+€40,034) and Receivables within one year (+€35,186)
- Receivables within one year -€35,186
down €35,186 (-15.1%), from €233,292 to €198,105
of which Other amounts receivable: -€59,237
- Trade debts +€23,514
up €23,514 (+68.2%), from €34,503 to €58,017
- Reserves -€19,450
down €19,450 (-3.0%), from €659,158 to €639,708
- Gross operating margin -€72,466
down €72,466 (-32.0%), from €226,713 to €154,247
- Staff costs -€34,277
down €34,277 (-27.8%), from €123,083 to €88,807
- Taxes -€12,100
down €12,100 (-35.6%), from €34,032 to €21,932
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 | €784,019 | €794,966 | +€10,947 | +1.4% |
| Fixed assets | 21/28 | €36,518 | €37,079 | +€561 | +1.5% |
| Tangible fixed assets | 22/27 | €33,488 | €34,049 | +€561 | +1.7% |
| Plant, machinery and equipment | 23 | €33,488 | €34,049 | +€561 | +1.7% |
| Financial fixed assets | 28 | €3,030 | €3,030 | = | 0.0% |
| Current assets | 29/58 | €747,500 | €757,887 | +€10,386 | +1.4% |
| Stocks and contracts in progress | 3 | €325 | €325 | = | 0.0% |
| Stocks | 30/36 | €325 | €325 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €233,292 | €198,105 | -€35,186 | -15.1% |
| Trade receivables | 40 | €11,853 | €35,904 | +€24,051 | +203% |
| Other amounts receivable | 41 | €221,438 | €162,201 | -€59,237 | -26.8% |
| Cash at bank and in hand | 54/58 | €496,716 | €543,872 | +€47,156 | +9.5% |
| Deferred charges and accrued income | 490/1 | €17,168 | €15,584 | -€1,584 | -9.2% |
| Total equity and liabilities | 10/49 | €784,019 | €794,966 | +€10,947 | +1.4% |
| Equity | 10/15 | €678,989 | €659,539 | -€19,450 | -2.9% |
| Contributions | 10/11 | €19,831 | €19,831 | = | 0.0% |
| Reserves | 13 | €659,158 | €639,708 | -€19,450 | -3.0% |
| Distributable reserves | 133 | €659,158 | €639,708 | -€19,450 | -3.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €105,030 | €135,427 | +€30,397 | +28.9% |
| Amounts payable within one year | 42/48 | €105,030 | €129,129 | +€24,099 | +22.9% |
| Trade debts | 44 | €34,503 | €58,017 | +€23,514 | +68.2% |
| Suppliers | 440/4 | €34,503 | €58,017 | +€23,514 | +68.2% |
| Advances received on contracts in progress | 46 | - | €6,761 | +€6,761 | |
| Taxes, remuneration and social security | 45 | €22,283 | €16,107 | -€6,176 | -27.7% |
| Taxes | 450/3 | €14,031 | €8,237 | -€5,793 | -41.3% |
| Remuneration and social security | 454/9 | €8,252 | €7,869 | -€382 | -4.6% |
| Other amounts payable | 47/48 | €48,244 | €48,244 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €0 | €6,298 | +€6,298 | |
| Remuneration, social security and pensions | 62 | €123,083 | €88,807 | -€34,277 | -27.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,968 | €9,413 | +€1,445 | +18.1% |
| Other operating charges | 640/8 | €3,137 | €2,669 | -€469 | -14.9% |
| Gross operating margin | 9900 | €226,713 | €154,247 | -€72,466 | -32.0% |
| Operating profit (loss) | 9901 | €92,524 | €53,358 | -€39,165 | -42.3% |
| Financial income | 75/76B | €10,874 | €10,324 | -€550 | -5.1% |
| Recurring financial income | 75 | €10,874 | €10,324 | -€550 | -5.1% |
| Financial charges | 65/66B | €1,570 | €1,716 | +€146 | +9.3% |
| Recurring financial charges | 65 | €1,570 | €1,716 | +€146 | +9.3% |
| Profit (loss) for the period before taxes | 9903 | €101,827 | €61,966 | -€39,861 | -39.1% |
| Income taxes | 67/77 | €34,032 | €21,932 | -€12,100 | -35.6% |
| Profit (loss) for the period | 9904 | €67,795 | €40,034 | -€27,762 | -40.9% |
| Profit (loss) for the period to be appropriated | 9905 | €67,795 | €40,034 | -€27,762 | -40.9% |
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 16 October 2026 via checked.be.