VBM: 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.
VBM
Largest movements
- Cash +€42,918
up €42,918 (+54.3%), from €79,081 to €122,000
mainly Net result for the year (+€31,430) and Trade debts (+€15,170)
- Receivables within one year +€9,080
up €9,080 (+94.8%), from €9,581 to €18,661
of which Trade receivables: +€9,829
- Tangible fixed assets -€1,941
down €1,941 (-50.3%), from €3,856 to €1,915
of which Land and buildings: -€2,594
- Reserves +€24,839
up €24,839 (+29.4%), from €84,602 to €109,441
- Trade debts +€15,170
up €15,170, from €0 to €15,170
- Tax, wage and social debts +€5,311
up €5,311 (+370%), from €1,436 to €6,747
- Accrued charges and deferred income +€3,275
up €3,275 (+1,052%), from €311 to €3,586
- Gross operating margin +€22,273
up €22,273 (+75.4%), from €29,550 to €51,822
- Taxes +€7,510
up €7,510 (+143%), from €5,237 to €12,747
- Depreciation -€571
down €571 (-12.7%), from €4,499 to €3,929
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 | €92,827 | €142,613 | +€49,786 | +53.6% |
| Fixed assets | 21/28 | €3,856 | €1,915 | -€1,941 | -50.3% |
| Tangible fixed assets | 22/27 | €3,856 | €1,915 | -€1,941 | -50.3% |
| Land and buildings | 22 | €2,594 | €0 | -€2,594 | -100% |
| Plant, machinery and equipment | 23 | - | €1,167 | +€1,167 | |
| Furniture and vehicles | 24 | €1,262 | €747 | -€514 | -40.8% |
| Current assets | 29/58 | €88,971 | €140,698 | +€51,727 | +58.1% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €9,581 | €18,661 | +€9,080 | +94.8% |
| Trade receivables | 40 | €1,775 | €11,604 | +€9,829 | +554% |
| Other amounts receivable | 41 | €7,806 | €7,057 | -€749 | -9.6% |
| Cash at bank and in hand | 54/58 | €79,081 | €122,000 | +€42,918 | +54.3% |
| Deferred charges and accrued income | 490/1 | €309 | €37 | -€271 | -87.9% |
| Total equity and liabilities | 10/49 | €92,827 | €142,613 | +€49,786 | +53.6% |
| Equity | 10/15 | €90,967 | €115,806 | +€24,839 | +27.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €84,602 | €109,441 | +€24,839 | +29.4% |
| Distributable reserves | 133 | €84,602 | €109,441 | +€24,839 | +29.4% |
| Profit (loss) carried forward | 14 | €165 | €165 | = | 0.0% |
| Amounts payable | 17/49 | €1,860 | €26,807 | +€24,947 | +1,341% |
| Amounts payable within one year | 42/48 | €1,549 | €23,221 | +€21,672 | +1,399% |
| Trade debts | 44 | €0 | €15,170 | +€15,170 | |
| Suppliers | 440/4 | €0 | €15,170 | +€15,170 | |
| Taxes, remuneration and social security | 45 | €1,436 | €6,747 | +€5,311 | +370% |
| Taxes | 450/3 | €1,436 | €6,747 | +€5,311 | +370% |
| Other amounts payable | 47/48 | €113 | €1,304 | +€1,191 | +1,054% |
| Accrued charges and deferred income | 492/3 | €311 | €3,586 | +€3,275 | +1,052% |
| Non-recurring operating income | 76A | €9,917 | €0 | -€9,917 | -100% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,499 | €3,929 | -€571 | -12.7% |
| Other operating charges | 640/8 | €532 | €515 | -€17 | -3.1% |
| Non-recurring operating charges | 66A | €0 | €356 | +€356 | |
| Gross operating margin | 9900 | €29,550 | €51,822 | +€22,273 | +75.4% |
| Operating profit (loss) | 9901 | €24,519 | €47,023 | +€22,504 | +91.8% |
| Financial income | 75/76B | €10 | - | -€10 | |
| Recurring financial income | 75 | €10 | - | -€10 | |
| Financial charges | 65/66B | €2,949 | €2,846 | -€103 | -3.5% |
| Recurring financial charges | 65 | €2,949 | €2,846 | -€103 | -3.5% |
| Profit (loss) for the period before taxes | 9903 | €21,580 | €44,177 | +€22,597 | +105% |
| Income taxes | 67/77 | €5,237 | €12,747 | +€7,510 | +143% |
| Profit (loss) for the period | 9904 | €16,344 | €31,430 | +€15,086 | +92.3% |
| Profit (loss) for the period to be appropriated | 9905 | €16,344 | €31,430 | +€15,086 | +92.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.