VBH Logistics: 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.
VBH Logistics
Largest movements
- Tangible fixed assets -€60,309
down €60,309 (-2.6%), from €2.3m to €2.3m
- Cash -€38,294
down €38,294 (-44.9%), from €85,377 to €47,083
mainly Debts after one year (-€132,855) and Accrued charges and deferred income (-€47,000)
- Debts after one year -€132,855
down €132,855 (-9.9%), from €1.3m to €1.2m
- Profit (loss) carried forward +€93,720
up €93,720 (+19.0%), from €493,378 to €587,097
- Accrued charges and deferred income -€47,000
down €47,000 (-100%), from €47,000 to €0
- Financial income -€521,677
down €521,677 (-100%), from €521,677 to €0
of which Non-recurring financial income: -€501,041
- Gross operating margin +€213,063
up €213,063 (+1,067%), from €19,972 to €233,035
- Taxes +€30,776
up €30,776 (+6,640%), from €463 to €31,240
- Financial charges +€16,923
up €16,923 (+61.0%), from €27,754 to €44,677
- Depreciation +€15,747
up €15,747 (+35.3%), from €44,563 to €60,309
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 | €2,531,602 | €2,448,581 | -€83,021 | -3.3% |
| Fixed assets | 21/28 | €2,441,145 | €2,380,836 | -€60,309 | -2.5% |
| Tangible fixed assets | 22/27 | €2,320,505 | €2,260,196 | -€60,309 | -2.6% |
| Land and buildings | 22 | €2,320,505 | €2,260,196 | -€60,309 | -2.6% |
| Financial fixed assets | 28 | €120,640 | €120,640 | = | 0.0% |
| Current assets | 29/58 | €90,457 | €67,745 | -€22,712 | -25.1% |
| Amounts receivable within one year | 40/41 | €5,000 | €20,663 | +€15,663 | +313% |
| Other amounts receivable | 41 | €5,000 | €20,663 | +€15,663 | +313% |
| Cash at bank and in hand | 54/58 | €85,377 | €47,083 | -€38,294 | -44.9% |
| Deferred charges and accrued income | 490/1 | €80 | - | -€80 | |
| Total equity and liabilities | 10/49 | €2,531,602 | €2,448,581 | -€83,021 | -3.3% |
| Equity | 10/15 | €1,010,378 | €1,104,097 | +€93,720 | +9.3% |
| Contributions | 10/11 | €470,000 | €470,000 | = | 0.0% |
| Capital | 10 | €470,000 | €470,000 | = | 0.0% |
| Issued capital | 100 | €470,000 | €470,000 | = | 0.0% |
| Reserves | 13 | €47,000 | €47,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €47,000 | €47,000 | = | 0.0% |
| Legal reserve | 130 | €47,000 | €47,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €493,378 | €587,097 | +€93,720 | +19.0% |
| Amounts payable | 17/49 | €1,521,224 | €1,344,483 | -€176,741 | -11.6% |
| Amounts payable after more than one year | 17 | €1,344,483 | €1,211,628 | -€132,855 | -9.9% |
| Financial debts | 170/4 | €1,344,483 | €1,211,628 | -€132,855 | -9.9% |
| Amounts payable within one year | 42/48 | €129,741 | €132,855 | +€3,114 | +2.4% |
| Current portion of amounts payable after more than one year | 42 | €129,741 | €132,855 | +€3,114 | +2.4% |
| Accrued charges and deferred income | 492/3 | €47,000 | €0 | -€47,000 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,563 | €60,309 | +€15,747 | +35.3% |
| Other operating charges | 640/8 | €3,052 | €3,089 | +€37 | +1.2% |
| Gross operating margin | 9900 | €19,972 | €233,035 | +€213,063 | +1,067% |
| Operating profit (loss) | 9901 | -€27,643 | €169,636 | +€197,279 | |
| Financial income | 75/76B | €521,677 | €0 | -€521,677 | -100% |
| Recurring financial income | 75 | €20,636 | €0 | -€20,636 | -100% |
| Non-recurring financial income | 76B | €501,041 | - | -€501,041 | |
| Financial charges | 65/66B | €27,754 | €44,677 | +€16,923 | +61.0% |
| Recurring financial charges | 65 | €27,754 | €44,677 | +€16,923 | +61.0% |
| Profit (loss) for the period before taxes | 9903 | €466,280 | €124,959 | -€341,320 | -73.2% |
| Income taxes | 67/77 | €463 | €31,240 | +€30,776 | +6,640% |
| Profit (loss) for the period | 9904 | €465,816 | €93,720 | -€372,097 | -79.9% |
| Profit (loss) for the period to be appropriated | 9905 | €465,816 | €93,720 | -€372,097 | -79.9% |
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 14 October 2026 via checked.be.