VBH BELGIUM: what changed
What changed
VBH BELGIUM
NACE 46.841, Wholesale trade
filed annual accounts (NBB)
Net result for the year
€797,140
2024 · €888,133-€90,993
Equity
€5.2m
2024 · €5.1m+€97,140
Cash
€521,986
2024 · €560,417-€38,431
Balance sheet total
€7.3m
2024 · €7.2m+€118,712
Largest movements
Assets
- Stocks and contracts +€430,319
up €430,319 (+13.9%), from €3.1m to €3.5m
- Receivables within one year -€266,755
down €266,755 (-7.6%), from €3.5m to €3.2m
Equity and liabilities
- Profit (loss) carried forward +€97,140
up €97,140 (+2.6%), from €3.7m to €3.8m
Income statement
No income-statement line moved by more than 1% of the activity.
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€888,133
Turnover
-€159,263
Other operating income
-€42,717
Goods and materials
+€48,442
Services and other goods
-€121,292
Staff costs
+€167,895
Depreciation
+€5,770
Write-downs
+€49,676
Other operating charges
-€526
Other operating items
-€4,005
Financial income
-€14,261
Financial charges
-€42,817
Taxes
+€22,104
Result 2025
€797,140
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€661,569
Investment
€0
Financing
-€700,000
Cash 2024
€560,417
From operations (derived)
+€661,569
Net result for the year
+€797,140
Depreciation
+€7,141
Stocks and contracts
-€430,319
Receivables within one year
+€266,755
Deferred charges and accrued income
-€720
Trade debts
+€27,995
Tax, wage and social debts
-€9,414
Advances received
+€2,992
Financing
-€700,000
Contributions, distributions and other
-€700,000
Cash 2025
€521,986
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,193,548 | €7,312,260 | +€118,712 | +1.7% |
| Fixed assets | 21/28 | €16,272 | €9,131 | -€7,141 | -43.9% |
| Tangible fixed assets | 22/27 | €16,161 | €9,019 | -€7,141 | -44.2% |
| Plant, machinery and equipment | 23 | €2,422 | €1,498 | -€924 | -38.2% |
| Furniture and vehicles | 24 | €13,739 | €7,521 | -€6,217 | -45.3% |
| Financial fixed assets | 28 | €112 | €112 | = | 0.0% |
| Other financial fixed assets | 284/8 | €112 | €112 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €112 | €112 | = | 0.0% |
| Current assets | 29/58 | €7,177,275 | €7,303,129 | +€125,854 | +1.8% |
| Stocks and contracts in progress | 3 | €3,093,883 | €3,524,202 | +€430,319 | +13.9% |
| Stocks | 30/36 | €3,093,883 | €3,524,202 | +€430,319 | +13.9% |
| Goods purchased for resale | 34 | €3,093,883 | €3,524,202 | +€430,319 | +13.9% |
| Amounts receivable within one year | 40/41 | €3,507,695 | €3,240,941 | -€266,755 | -7.6% |
| Trade receivables | 40 | €3,507,695 | €3,240,941 | -€266,755 | -7.6% |
| Cash at bank and in hand | 54/58 | €560,417 | €521,986 | -€38,431 | -6.9% |
| Deferred charges and accrued income | 490/1 | €15,280 | €16,000 | +€720 | +4.7% |
| Total equity and liabilities | 10/49 | €7,193,548 | €7,312,260 | +€118,712 | +1.7% |
| Equity | 10/15 | €5,105,205 | €5,202,345 | +€97,140 | +1.9% |
| Contributions | 10/11 | €1,239,468 | €1,239,468 | = | 0.0% |
| Capital | 10 | €1,239,468 | €1,239,468 | = | 0.0% |
| Issued capital | 100 | €1,239,468 | €1,239,468 | = | 0.0% |
| Reserves | 13 | €139,152 | €139,152 | = | 0.0% |
| Non-distributable reserves | 130/1 | €139,152 | €139,152 | = | 0.0% |
| Legal reserve | 130 | €123,947 | €123,947 | = | 0.0% |
| Reserves not available under the articles | 1311 | €15,205 | €15,205 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,726,585 | €3,823,725 | +€97,140 | +2.6% |
| Amounts payable | 17/49 | €2,088,343 | €2,109,915 | +€21,572 | +1.0% |
| Amounts payable within one year | 42/48 | €2,088,343 | €2,109,915 | +€21,572 | +1.0% |
| Financial debts | 43 | €100,000 | €100,000 | = | 0.0% |
| Credit institutions | 430/8 | €100,000 | €100,000 | = | 0.0% |
| Trade debts | 44 | €1,027,455 | €1,055,450 | +€27,995 | +2.7% |
| Suppliers | 440/4 | €1,027,455 | €1,055,450 | +€27,995 | +2.7% |
| Advances received on contracts in progress | 46 | €11,108 | €14,100 | +€2,992 | +26.9% |
| Taxes, remuneration and social security | 45 | €249,779 | €240,365 | -€9,414 | -3.8% |
| Taxes | 450/3 | €65,603 | €52,569 | -€13,033 | -19.9% |
| Remuneration and social security | 454/9 | €184,176 | €187,795 | +€3,619 | +2.0% |
| Other amounts payable | 47/48 | €700,000 | €700,000 | = | 0.0% |
| Operating income | 70/76A | €20,697,504 | €20,491,519 | -€205,986 | -1.0% |
| Turnover | 70 | €20,583,963 | €20,424,699 | -€159,263 | -0.8% |
| Other operating income | 74 | €109,537 | €66,820 | -€42,717 | -39.0% |
| Non-recurring operating income | 76A | €4,005 | - | -€4,005 | |
| Operating charges | 60/66A | €19,752,184 | €19,602,218 | -€149,966 | -0.8% |
| Goods for resale, raw materials and consumables | 60 | €16,047,216 | €15,998,774 | -€48,442 | -0.3% |
| Purchases | 600/8 | €16,036,947 | €16,356,509 | +€319,561 | +2.0% |
| Change in stocks: decrease (increase) | 609 | €10,269 | -€357,734 | -€368,003 | |
| Services and other goods | 61 | €1,814,895 | €1,936,187 | +€121,292 | +6.7% |
| Remuneration, social security and pensions | 62 | €1,879,830 | €1,711,935 | -€167,895 | -8.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,912 | €7,141 | -€5,770 | -44.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€18,004 | -€67,680 | -€49,676 | -276% |
| Other operating charges | 640/8 | €15,334 | €15,860 | +€526 | +3.4% |
| Non-recurring operating charges | 66A | €0 | - | -€0 | |
| Operating profit (loss) | 9901 | €945,321 | €889,301 | -€56,019 | -5.9% |
| Financial income | 75/76B | €403,837 | €389,576 | -€14,261 | -3.5% |
| Recurring financial income | 75 | €403,837 | €389,576 | -€14,261 | -3.5% |
| Other financial income | 752/9 | €403,837 | €389,576 | -€14,261 | -3.5% |
| Financial charges | 65/66B | €136,024 | €178,841 | +€42,817 | +31.5% |
| Recurring financial charges | 65 | €136,024 | €178,841 | +€42,817 | +31.5% |
| Debt charges | 650 | €25,716 | €28,710 | +€2,994 | +11.6% |
| Other financial charges | 652/9 | €110,308 | €150,132 | +€39,823 | +36.1% |
| Profit (loss) for the period before taxes | 9903 | €1,213,133 | €1,100,036 | -€113,097 | -9.3% |
| Income taxes | 67/77 | €325,000 | €302,896 | -€22,104 | -6.8% |
| Taxes | 670/3 | €325,000 | €302,896 | -€22,104 | -6.8% |
| Profit (loss) for the period | 9904 | €888,133 | €797,140 | -€90,993 | -10.2% |
| Profit (loss) for the period to be appropriated | 9905 | €888,133 | €797,140 | -€90,993 | -10.2% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.