VB Rubber: 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 Rubber
Largest movements
- Stocks and contracts -€136,929
down €136,929 (-41.1%), from €333,113 to €196,184
- Cash -€66,844
down €66,844 (-72.1%), from €92,740 to €25,896
mainly Trade debts (-€136,460) and Debts after one year (-€71,716)
- Receivables within one year -€40,430
down €40,430 (-23.7%), from €170,758 to €130,327
of which Trade receivables: -€64,741
- Tangible fixed assets -€37,510
down €37,510 (-3.2%), from €1.2m to €1.1m
of which Land and buildings: -€34,516
- Trade debts -€136,460
down €136,460 (-62.7%), from €217,564 to €81,105
- Debts after one year -€71,716
down €71,716 (-8.2%), from €874,775 to €803,059
- Reserves -€60,422
down €60,422 (-12.4%), from €489,159 to €428,738
- Gross operating margin -€54,749
down €54,749 (-20.7%), from €264,269 to €209,520
- Depreciation +€50,633
up €50,633 (+531%), from €9,532 to €60,165
- Staff costs +€30,625
up €30,625 (+18.8%), from €163,277 to €193,901
- Financial income +€10,084
up €10,084 (+151%), from €6,660 to €16,745
- Financial charges +€8,988
up €8,988 (+30.0%), from €29,929 to €38,916
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 | €1,761,070 | €1,480,006 | -€281,064 | -16.0% |
| Fixed assets | 21/28 | €1,164,460 | €1,121,949 | -€42,510 | -3.7% |
| Tangible fixed assets | 22/27 | €1,159,460 | €1,121,949 | -€37,510 | -3.2% |
| Land and buildings | 22 | €1,126,402 | €1,091,886 | -€34,516 | -3.1% |
| Plant, machinery and equipment | 23 | €13,724 | €8,951 | -€4,773 | -34.8% |
| Furniture and vehicles | 24 | €19,334 | €21,112 | +€1,779 | +9.2% |
| Financial fixed assets | 28 | €5,000 | - | -€5,000 | |
| Current assets | 29/58 | €596,610 | €358,056 | -€238,554 | -40.0% |
| Stocks and contracts in progress | 3 | €333,113 | €196,184 | -€136,929 | -41.1% |
| Stocks | 30/36 | €333,113 | €196,184 | -€136,929 | -41.1% |
| Amounts receivable within one year | 40/41 | €170,758 | €130,327 | -€40,430 | -23.7% |
| Trade receivables | 40 | €128,258 | €63,517 | -€64,741 | -50.5% |
| Other amounts receivable | 41 | €42,499 | €66,810 | +€24,311 | +57.2% |
| Cash at bank and in hand | 54/58 | €92,740 | €25,896 | -€66,844 | -72.1% |
| Deferred charges and accrued income | 490/1 | - | €5,649 | +€5,649 | |
| Total equity and liabilities | 10/49 | €1,761,070 | €1,480,006 | -€281,064 | -16.0% |
| Equity | 10/15 | €533,259 | €462,414 | -€70,846 | -13.3% |
| Contributions | 10/11 | €44,100 | €44,100 | = | 0.0% |
| Reserves | 13 | €489,159 | €428,738 | -€60,422 | -12.4% |
| Distributable reserves | 133 | €489,159 | €428,738 | -€60,422 | -12.4% |
| Profit (loss) carried forward | 14 | - | -€10,424 | -€10,424 | |
| Amounts payable | 17/49 | €1,227,811 | €1,017,592 | -€210,219 | -17.1% |
| Amounts payable after more than one year | 17 | €874,775 | €803,059 | -€71,716 | -8.2% |
| Financial debts | 170/4 | €874,775 | €803,059 | -€71,716 | -8.2% |
| Amounts payable within one year | 42/48 | €353,036 | €214,533 | -€138,503 | -39.2% |
| Current portion of amounts payable after more than one year | 42 | €69,316 | €71,716 | +€2,400 | +3.5% |
| Financial debts | 43 | €10,000 | €15,000 | +€5,000 | +50.0% |
| Credit institutions | 430/8 | €10,000 | €15,000 | +€5,000 | +50.0% |
| Trade debts | 44 | €217,564 | €81,105 | -€136,460 | -62.7% |
| Suppliers | 440/4 | €217,564 | €81,105 | -€136,460 | -62.7% |
| Advances received on contracts in progress | 46 | €16,444 | €6,906 | -€9,537 | -58.0% |
| Taxes, remuneration and social security | 45 | €30,905 | €37,406 | +€6,501 | +21.0% |
| Taxes | 450/3 | €13,121 | €16,821 | +€3,700 | +28.2% |
| Remuneration and social security | 454/9 | €17,784 | €20,585 | +€2,801 | +15.7% |
| Other amounts payable | 47/48 | €8,807 | €2,400 | -€6,407 | -72.7% |
| Remuneration, social security and pensions | 62 | €163,277 | €193,901 | +€30,625 | +18.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,532 | €60,165 | +€50,633 | +531% |
| Other operating charges | 640/8 | €3,407 | €3,391 | -€16 | -0.5% |
| Non-recurring operating charges | 66A | €842 | - | -€842 | |
| Gross operating margin | 9900 | €264,269 | €209,520 | -€54,749 | -20.7% |
| Operating profit (loss) | 9901 | €87,211 | -€47,938 | -€135,149 | |
| Financial income | 75/76B | €6,660 | €16,745 | +€10,084 | +151% |
| Recurring financial income | 75 | €6,660 | €16,745 | +€10,084 | +151% |
| Financial charges | 65/66B | €29,929 | €38,916 | +€8,988 | +30.0% |
| Recurring financial charges | 65 | €29,929 | €38,916 | +€8,988 | +30.0% |
| Profit (loss) for the period before taxes | 9903 | €63,943 | -€70,109 | -€134,052 | |
| Income taxes | 67/77 | €9,314 | €736 | -€8,578 | -92.1% |
| Profit (loss) for the period | 9904 | €54,629 | -€70,846 | -€125,474 | |
| Profit (loss) for the period to be appropriated | 9905 | €54,629 | -€70,846 | -€125,474 |
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.