VB Technics: 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 Technics
Largest movements
- Tangible fixed assets +€311,326
up €311,326 (+166%), from €187,695 to €499,021
of which Land and buildings: +€324,748
- Cash -€36,126
down €36,126 (-34.9%), from €103,594 to €67,468
mainly Investment in fixed assets (net) (-€384,605) and Receivables within one year (-€9,140)
- Receivables within one year +€9,140
up €9,140 (+50.9%), from €17,952 to €27,092
of which Trade receivables: +€14,788
- Debts after one year +€227,746
up €227,746 (+206%), from €110,432 to €338,179
- Reserves +€33,532
up €33,532 (+33.7%), from €99,625 to €133,157
- Tax, wage and social debts +€12,832
up €12,832 (+37.2%), from €34,481 to €47,313
of which Taxes: +€10,929
- Current portion of long-term debt +€11,174
up €11,174 (+52.7%), from €21,218 to €32,392
- Gross operating margin -€66,059
down €66,059 (-22.6%), from €292,023 to €225,964
- Depreciation +€60,830
up €60,830 (+397%), from €15,328 to €76,159
- Staff costs -€52,570
down €52,570 (-38.1%), from €137,883 to €85,313
- Taxes -€17,805
down €17,805 (-65.6%), from €27,142 to €9,337
- Financial charges +€12,804
up €12,804 (+182%), from €7,019 to €19,822
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 | €316,048 | €594,306 | +€278,258 | +88.0% |
| Fixed assets | 21/28 | €190,575 | €499,021 | +€308,446 | +162% |
| Tangible fixed assets | 22/27 | €187,695 | €499,021 | +€311,326 | +166% |
| Land and buildings | 22 | €101,541 | €426,289 | +€324,748 | +320% |
| Plant, machinery and equipment | 23 | €988 | €1,294 | +€306 | +31.0% |
| Furniture and vehicles | 24 | €2,625 | €5,621 | +€2,996 | +114% |
| Leasing and similar rights | 25 | €82,541 | €65,817 | -€16,724 | -20.3% |
| Financial fixed assets | 28 | €2,880 | €0 | -€2,880 | -100% |
| Current assets | 29/58 | €125,473 | €95,285 | -€30,188 | -24.1% |
| Amounts receivable within one year | 40/41 | €17,952 | €27,092 | +€9,140 | +50.9% |
| Trade receivables | 40 | €10,778 | €25,566 | +€14,788 | +137% |
| Other amounts receivable | 41 | €7,174 | €1,526 | -€5,648 | -78.7% |
| Cash at bank and in hand | 54/58 | €103,594 | €67,468 | -€36,126 | -34.9% |
| Deferred charges and accrued income | 490/1 | €3,927 | €725 | -€3,202 | -81.5% |
| Total equity and liabilities | 10/49 | €316,048 | €594,306 | +€278,258 | +88.0% |
| Equity | 10/15 | €101,625 | €135,157 | +€33,532 | +33.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €99,625 | €133,157 | +€33,532 | +33.7% |
| Distributable reserves | 133 | €99,625 | €133,157 | +€33,532 | +33.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €214,423 | €459,149 | +€244,726 | +114% |
| Amounts payable after more than one year | 17 | €110,432 | €338,179 | +€227,746 | +206% |
| Financial debts | 170/4 | €110,432 | €338,179 | +€227,746 | +206% |
| Amounts payable within one year | 42/48 | €103,736 | €120,970 | +€17,234 | +16.6% |
| Current portion of amounts payable after more than one year | 42 | €21,218 | €32,392 | +€11,174 | +52.7% |
| Trade debts | 44 | €45,458 | €41,265 | -€4,193 | -9.2% |
| Suppliers | 440/4 | €45,458 | €41,265 | -€4,193 | -9.2% |
| Taxes, remuneration and social security | 45 | €34,481 | €47,313 | +€12,832 | +37.2% |
| Taxes | 450/3 | €29,867 | €40,796 | +€10,929 | +36.6% |
| Remuneration and social security | 454/9 | €4,613 | €6,517 | +€1,903 | +41.3% |
| Other amounts payable | 47/48 | €2,579 | €0 | -€2,579 | -100% |
| Accrued charges and deferred income | 492/3 | €255 | €0 | -€255 | -100% |
| Non-recurring operating income | 76A | - | €37,459 | +€37,459 | |
| Remuneration, social security and pensions | 62 | €137,883 | €85,313 | -€52,570 | -38.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,328 | €76,159 | +€60,830 | +397% |
| Other operating charges | 640/8 | €4,778 | €9,090 | +€4,311 | +90.2% |
| Gross operating margin | 9900 | €292,023 | €225,964 | -€66,059 | -22.6% |
| Operating profit (loss) | 9901 | €134,034 | €55,403 | -€78,631 | -58.7% |
| Financial income | 75/76B | €611 | €7,289 | +€6,678 | +1,093% |
| Recurring financial income | 75 | €611 | €1,028 | +€417 | +68.3% |
| Non-recurring financial income | 76B | - | €6,260 | +€6,260 | |
| Financial charges | 65/66B | €7,019 | €19,822 | +€12,804 | +182% |
| Recurring financial charges | 65 | €7,019 | €19,822 | +€12,804 | +182% |
| Profit (loss) for the period before taxes | 9903 | €127,626 | €42,869 | -€84,757 | -66.4% |
| Income taxes | 67/77 | €27,142 | €9,337 | -€17,805 | -65.6% |
| Profit (loss) for the period | 9904 | €100,484 | €33,532 | -€66,952 | -66.6% |
| Profit (loss) for the period to be appropriated | 9905 | €100,484 | €33,532 | -€66,952 | -66.6% |
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 31 October 2026 via checked.be.