VCB: what changed
Two fiscal 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.
VCB
Largest movements
- Receivables within one year -€279,453
down €279,453 (-28.3%), from €989,059 to €709,606
of which Other amounts receivable: -€484,081
- Other debts -€155,528
down €155,528 (-19.7%), from €789,172 to €633,644
- Trade debts -€143,493
no longer reported in 2025 (was €143,493)
- Reserves +€21,157
up €21,157 (+38.1%), from €55,510 to €76,667
- Financial charges +€4,335
up €4,335 (+1504.6%), from €288 to €4,623
- Gross operating margin +€3,305
up €3,305 (+11.2%), from €29,401 to €32,705
- Taxes +€763
up €763 (+13.2%), from €5,763 to €6,525
- Financial income -€478
no longer reported in 2025 (was €478)
- Other operating charges -€378
down €378 (-48.6%), from €778 to €400
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.
Cash bridge derived
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 | €994,715 | €711,310 | -€283,405 | -28.5% |
| Current assets | 29/58 | €994,715 | €711,310 | -€283,405 | -28.5% |
| Amounts receivable within one year | 40/41 | €989,059 | €709,606 | -€279,453 | -28.3% |
| Trade receivables | 40 | - | €204,628 | +€204,628 | |
| Other amounts receivable | 41 | €989,059 | €504,978 | -€484,081 | -48.9% |
| Cash at bank and in hand | 54/58 | €5,656 | €1,704 | -€3,951 | -69.9% |
| Total equity and liabilities | 10/49 | €994,715 | €711,310 | -€283,405 | -28.5% |
| Equity | 10/15 | €56,510 | €77,667 | +€21,157 | +37.4% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €55,510 | €76,667 | +€21,157 | +38.1% |
| Distributable reserves | 133 | €55,510 | €76,667 | +€21,157 | +38.1% |
| Amounts payable | 17/49 | €938,205 | €633,644 | -€304,561 | -32.5% |
| Amounts payable within one year | 42/48 | €938,205 | €633,644 | -€304,561 | -32.5% |
| Trade debts | 44 | €143,493 | - | -€143,493 | |
| Suppliers | 440/4 | €143,493 | - | -€143,493 | |
| Taxes, remuneration and social security | 45 | €5,540 | - | -€5,540 | |
| Taxes | 450/3 | €5,540 | - | -€5,540 | |
| Other amounts payable | 47/48 | €789,172 | €633,644 | -€155,528 | -19.7% |
| Other operating charges | 640/8 | €778 | €400 | -€378 | -48.6% |
| Gross operating margin | 9900 | €29,401 | €32,705 | +€3,305 | +11.2% |
| Operating profit (loss) | 9901 | €28,623 | €32,306 | +€3,682 | +12.9% |
| Financial income | 75/76B | €478 | - | -€478 | |
| Recurring financial income | 75 | €478 | - | -€478 | |
| Financial charges | 65/66B | €288 | €4,623 | +€4,335 | +1504.6% |
| Recurring financial charges | 65 | €288 | €4,623 | +€4,335 | +1504.6% |
| Profit (loss) for the period before taxes | 9903 | €28,813 | €27,682 | -€1,131 | -3.9% |
| Income taxes | 67/77 | €5,763 | €6,525 | +€763 | +13.2% |
| Profit (loss) for the period | 9904 | €23,050 | €21,157 | -€1,893 | -8.2% |
| Profit (loss) for the period to be appropriated | 9905 | €23,050 | €21,157 | -€1,893 | -8.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.