VBS - k: 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.
VBS - k
Largest movements
- Cash -€18,941
down €18,941 (-78.4%), from €24,167 to €5,226
mainly Trade debts (-€25,659) and Other debts (-€9,253)
- Receivables within one year -€11,050
down €11,050 (-16.0%), from €69,258 to €58,208
of which Trade receivables: -€6,305
- Tangible fixed assets -€10,250
down €10,250 (-22.8%), from €44,971 to €34,721
of which Other tangible fixed assets: -€7,281
- Trade debts -€25,659
down €25,659 (-82.9%), from €30,958 to €5,299
- Other debts -€9,253
down €9,253 (-17.6%), from €52,631 to €43,378
- Tax, wage and social debts -€4,504
down €4,504 (-35.8%), from €12,588 to €8,084
- Current portion of long-term debt -€3,296
down €3,296 (-100%), from €3,296 to €0
- Gross operating margin +€3,232
up €3,232 (+32.7%), from €9,871 to €13,103
- Depreciation -€1,153
down €1,153 (-10.1%), from €11,402 to €10,250
- Other operating charges +€822
up €822 (+142%), from €578 to €1,399
- Taxes +€239
up €239 (+76.6%), from €312 to €551
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 | €161,500 | €120,123 | -€41,378 | -25.6% |
| Fixed assets | 21/28 | €44,971 | €34,721 | -€10,250 | -22.8% |
| Tangible fixed assets | 22/27 | €44,971 | €34,721 | -€10,250 | -22.8% |
| Plant, machinery and equipment | 23 | €2,969 | €0 | -€2,969 | -100% |
| Other tangible fixed assets | 26 | €42,002 | €34,721 | -€7,281 | -17.3% |
| Current assets | 29/58 | €116,529 | €85,401 | -€31,128 | -26.7% |
| Stocks and contracts in progress | 3 | €23,104 | €21,968 | -€1,137 | -4.9% |
| Stocks | 30/36 | €23,104 | €21,968 | -€1,137 | -4.9% |
| Amounts receivable within one year | 40/41 | €69,258 | €58,208 | -€11,050 | -16.0% |
| Trade receivables | 40 | €30,181 | €23,876 | -€6,305 | -20.9% |
| Other amounts receivable | 41 | €39,078 | €34,332 | -€4,745 | -12.1% |
| Cash at bank and in hand | 54/58 | €24,167 | €5,226 | -€18,941 | -78.4% |
| Total equity and liabilities | 10/49 | €161,500 | €120,123 | -€41,378 | -25.6% |
| Equity | 10/15 | €62,027 | €63,361 | +€1,334 | +2.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €43,427 | €44,761 | +€1,334 | +3.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Other | 1319 | - | €1,860 | +€1,860 | |
| Distributable reserves | 133 | €41,567 | €42,901 | +€1,334 | +3.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €99,473 | €56,761 | -€42,711 | -42.9% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €99,473 | €56,761 | -€42,711 | -42.9% |
| Current portion of amounts payable after more than one year | 42 | €3,296 | €0 | -€3,296 | -100% |
| Trade debts | 44 | €30,958 | €5,299 | -€25,659 | -82.9% |
| Suppliers | 440/4 | €30,958 | €5,299 | -€25,659 | -82.9% |
| Taxes, remuneration and social security | 45 | €12,588 | €8,084 | -€4,504 | -35.8% |
| Taxes | 450/3 | €12,588 | €8,084 | -€4,504 | -35.8% |
| Other amounts payable | 47/48 | €52,631 | €43,378 | -€9,253 | -17.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,402 | €10,250 | -€1,153 | -10.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,008 | -€889 | +€120 | +11.9% |
| Other operating charges | 640/8 | €578 | €1,399 | +€822 | +142% |
| Gross operating margin | 9900 | €9,871 | €13,103 | +€3,232 | +32.7% |
| Operating profit (loss) | 9901 | -€1,101 | €2,342 | +€3,443 | |
| Financial income | 75/76B | €0 | €2 | +€2 | +21,400% |
| Recurring financial income | 75 | €0 | €2 | +€2 | +21,400% |
| Financial charges | 65/66B | €368 | €459 | +€92 | +24.9% |
| Recurring financial charges | 65 | €368 | €459 | +€92 | +24.9% |
| Profit (loss) for the period before taxes | 9903 | -€1,469 | €1,885 | +€3,354 | |
| Income taxes | 67/77 | €312 | €551 | +€239 | +76.6% |
| Profit (loss) for the period | 9904 | -€1,781 | €1,334 | +€3,115 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,781 | €1,334 | +€3,115 |
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 19 October 2026 via checked.be.