VBN Group BV: 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.
VBN Group BV
Largest movements
- Tangible fixed assets +€168,304
new in 2025: €168,304
- Cash -€17,111
down €17,111 (-44.6%), from €38,322 to €21,211
mainly Investment in fixed assets (net) (-€174,532) and Tax, wage and social debts (-€1,045)
- Debts after one year +€109,786
new in 2025: €109,786
- Current portion of long-term debt +€28,573
new in 2025: €28,573
- Reserves +€9,550
up €9,550 (+29.9%), from €31,987 to €41,537
- Other debts +€2,379
up €2,379 (+198%), from €1,200 to €3,579
- Gross operating margin -€12,319
down €12,319 (-35.1%), from €35,074 to €22,755
- Depreciation +€6,228
new in 2025: €6,228
- Taxes -€4,109
down €4,109 (-57.5%), from €7,150 to €3,041
- Financial charges +€2,352
up €2,352 (+5,407%), from €44 to €2,396
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 | €42,605 | €193,784 | +€151,179 | +355% |
| Fixed assets | 21/28 | €105 | €168,409 | +€168,304 | +160,290% |
| Tangible fixed assets | 22/27 | - | €168,304 | +€168,304 | |
| Land and buildings | 22 | - | €168,304 | +€168,304 | |
| Financial fixed assets | 28 | €105 | €105 | = | 0.0% |
| Current assets | 29/58 | €42,500 | €25,375 | -€17,125 | -40.3% |
| Amounts receivable within one year | 40/41 | €2,850 | €2,359 | -€491 | -17.2% |
| Other amounts receivable | 41 | €2,850 | €2,359 | -€491 | -17.2% |
| Cash at bank and in hand | 54/58 | €38,322 | €21,211 | -€17,111 | -44.6% |
| Deferred charges and accrued income | 490/1 | €1,328 | €1,805 | +€477 | +35.9% |
| Total equity and liabilities | 10/49 | €42,605 | €193,784 | +€151,179 | +355% |
| Equity | 10/15 | €36,987 | €46,537 | +€9,550 | +25.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €31,987 | €41,537 | +€9,550 | +29.9% |
| Distributable reserves | 133 | €31,987 | €41,537 | +€9,550 | +29.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €5,617 | €147,247 | +€141,630 | +2,521% |
| Amounts payable after more than one year | 17 | - | €109,786 | +€109,786 | |
| Financial debts | 170/4 | - | €109,786 | +€109,786 | |
| Amounts payable within one year | 42/48 | €5,617 | €37,461 | +€31,843 | +567% |
| Current portion of amounts payable after more than one year | 42 | - | €28,573 | +€28,573 | |
| Trade debts | 44 | €0 | €1,937 | +€1,937 | |
| Suppliers | 440/4 | €0 | €1,937 | +€1,937 | |
| Taxes, remuneration and social security | 45 | €4,417 | €3,372 | -€1,045 | -23.7% |
| Taxes | 450/3 | €4,417 | €3,372 | -€1,045 | -23.7% |
| Other amounts payable | 47/48 | €1,200 | €3,579 | +€2,379 | +198% |
| Non-recurring operating income | 76A | €4,730 | €0 | -€4,730 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €6,228 | +€6,228 | |
| Other operating charges | 640/8 | €599 | €707 | +€108 | +18.1% |
| Gross operating margin | 9900 | €35,074 | €22,755 | -€12,319 | -35.1% |
| Operating profit (loss) | 9901 | €34,475 | €15,820 | -€18,655 | -54.1% |
| Financial charges | 65/66B | €44 | €2,396 | +€2,352 | +5,407% |
| Recurring financial charges | 65 | €44 | €2,396 | +€2,352 | +5,407% |
| Profit (loss) for the period before taxes | 9903 | €34,431 | €13,424 | -€21,007 | -61.0% |
| Income taxes | 67/77 | €7,150 | €3,041 | -€4,109 | -57.5% |
| Profit (loss) for the period | 9904 | €27,281 | €10,383 | -€16,899 | -61.9% |
| Profit (loss) for the period to be appropriated | 9905 | €27,281 | €10,383 | -€16,899 | -61.9% |
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 20 October 2026 via checked.be.