VB-Tra: 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-Tra
Largest movements
- Cash +€64,370
up €64,370 (+1550.7%), from €4,151 to €68,521
mainly Depreciation (+€114,346) and Net result for the year (+€75,976)
- Receivables within one year -€25,977
down €25,977 (-48.2%), from €53,861 to €27,885
of which Trade receivables: -€23,908
- Reserves +€57,704
up €57,704 (+12.6%), from €459,026 to €516,730
- Tax, wage and social debts -€16,551
down €16,551 (-38.5%), from €42,945 to €26,394
of which Remuneration and social security: -€8,786
- Staff costs -€45,555
down €45,555 (-25.3%), from €179,715 to €134,160
- Depreciation +€10,898
up €10,898 (+10.5%), from €103,448 to €114,346
- Taxes +€4,782
up €4,782 (+13.9%), from €34,408 to €39,190
- Financial charges +€4,507
up €4,507 (+39.7%), from €11,351 to €15,858
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 | €952,153 | €987,240 | +€35,087 | +3.7% |
| Fixed assets | 21/28 | €886,408 | €881,945 | -€4,463 | -0.5% |
| Tangible fixed assets | 22/27 | €885,868 | €881,405 | -€4,463 | -0.5% |
| Land and buildings | 22 | €649,871 | €634,054 | -€15,816 | -2.4% |
| Furniture and vehicles | 24 | €31,403 | €25,145 | -€6,258 | -19.9% |
| Leasing and similar rights | 25 | €204,594 | €222,206 | +€17,611 | +8.6% |
| Financial fixed assets | 28 | €540 | €540 | = | 0.0% |
| Current assets | 29/58 | €65,745 | €105,295 | +€39,550 | +60.2% |
| Amounts receivable within one year | 40/41 | €53,861 | €27,885 | -€25,977 | -48.2% |
| Trade receivables | 40 | €51,523 | €27,615 | -€23,908 | -46.4% |
| Other amounts receivable | 41 | €2,339 | €270 | -€2,069 | -88.5% |
| Current investments | 50/53 | €104 | €104 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €4,151 | €68,521 | +€64,370 | +1550.7% |
| Deferred charges and accrued income | 490/1 | €7,628 | €8,785 | +€1,157 | +15.2% |
| Total equity and liabilities | 10/49 | €952,153 | €987,240 | +€35,087 | +3.7% |
| Equity | 10/15 | €490,192 | €547,896 | +€57,704 | +11.8% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €459,026 | €516,730 | +€57,704 | +12.6% |
| Distributable reserves | 133 | €459,026 | €516,730 | +€57,704 | +12.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Investment grants | 15 | €1,166 | €1,166 | = | 0.0% |
| Amounts payable | 17/49 | €461,961 | €439,344 | -€22,616 | -4.9% |
| Amounts payable after more than one year | 17 | €292,799 | €286,546 | -€6,254 | -2.1% |
| Financial debts | 170/4 | €290,799 | €284,546 | -€6,254 | -2.2% |
| Other amounts payable | 178/9 | €2,000 | €2,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €164,516 | €150,815 | -€13,701 | -8.3% |
| Current portion of amounts payable after more than one year | 42 | €101,782 | €108,470 | +€6,688 | +6.6% |
| Trade debts | 44 | €10,502 | €9,962 | -€540 | -5.1% |
| Suppliers | 440/4 | €10,502 | €9,962 | -€540 | -5.1% |
| Taxes, remuneration and social security | 45 | €42,945 | €26,394 | -€16,551 | -38.5% |
| Taxes | 450/3 | €26,089 | €18,324 | -€7,765 | -29.8% |
| Remuneration and social security | 454/9 | €16,856 | €8,070 | -€8,786 | -52.1% |
| Other amounts payable | 47/48 | €9,287 | €5,988 | -€3,299 | -35.5% |
| Accrued charges and deferred income | 492/3 | €4,645 | €1,984 | -€2,661 | -57.3% |
| Non-recurring operating income | 76A | €35,000 | €118,500 | +€83,500 | +238.6% |
| Remuneration, social security and pensions | 62 | €179,715 | €134,160 | -€45,555 | -25.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €103,448 | €114,346 | +€10,898 | +10.5% |
| Other operating charges | 640/8 | €4,915 | €4,482 | -€433 | -8.8% |
| Non-recurring operating charges | 66A | - | €638 | +€638 | |
| Gross operating margin | 9900 | €386,580 | €384,590 | -€1,990 | -0.5% |
| Operating profit (loss) | 9901 | €98,502 | €130,965 | +€32,462 | +33.0% |
| Financial income | 75/76B | €300 | €60 | -€240 | -80.0% |
| Recurring financial income | 75 | €300 | €60 | -€240 | -80.0% |
| Financial charges | 65/66B | €11,351 | €15,858 | +€4,507 | +39.7% |
| Recurring financial charges | 65 | €11,351 | €15,858 | +€4,507 | +39.7% |
| Profit (loss) for the period before taxes | 9903 | €87,452 | €115,167 | +€27,715 | +31.7% |
| Income taxes | 67/77 | €34,408 | €39,190 | +€4,782 | +13.9% |
| Profit (loss) for the period | 9904 | €53,044 | €75,976 | +€22,933 | +43.2% |
| Profit (loss) for the period to be appropriated | 9905 | €53,044 | €75,976 | +€22,933 | +43.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.