VF POOL: what changed
VF POOL
Largest movements
- Receivables within one year -€29,215
down €29,215 (-36.4%), from €80,332 to €51,117
of which Trade receivables: -€30,806
- Tangible fixed assets -€12,662
down €12,662 (-55.8%), from €22,690 to €10,029
of which Furniture and vehicles: -€17,116
- Cash +€10,939
up €10,939 (+190%), from €5,757 to €16,697
mainly Receivables within one year (+€29,215) and Investment in fixed assets (net) (+€5,872)
- Stocks and contracts +€2,750
up €2,750 (+786%), from €350 to €3,100
- Deferred charges and accrued income +€1,336
up €1,336 (+126%), from €1,058 to €2,394
- Tax, wage and social debts -€11,852
down €11,852 (-86.8%), from €13,660 to €1,808
- Debts after one year -€10,327
no longer reported in 2025 (was €10,327)
- Trade debts -€6,387
down €6,387 (-100%), from €6,387 to €0
- Current portion of long-term debt +€1,607
up €1,607 (+19.3%), from €8,331 to €9,938
- Profit (loss) carried forward +€1,207
up €1,207 (+1.7%), from €69,183 to €70,391
- Gross operating margin -€7,533
down €7,533 (-40.5%), from €18,588 to €11,054
- Depreciation -€7,424
down €7,424 (-56.6%), from €13,114 to €5,690
- Financial charges -€530
down €530 (-33.5%), from €1,580 to €1,050
- Other operating charges +€488
up €488 (+55.7%), from €876 to €1,365
- Financial income +€341
up €341 (+382%), from €89 to €430
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €110,888 | €85,137 | -€25,752 | -23.2% |
| Fixed assets | 21/28 | €23,390 | €11,829 | -€11,562 | -49.4% |
| Tangible fixed assets | 22/27 | €22,690 | €10,029 | -€12,662 | -55.8% |
| Furniture and vehicles | 24 | €22,690 | €5,574 | -€17,116 | -75.4% |
| Assets under construction and advance payments | 27 | - | €4,455 | +€4,455 | |
| Financial fixed assets | 28 | €700 | €1,800 | +€1,100 | +157% |
| Current assets | 29/58 | €87,498 | €73,308 | -€14,190 | -16.2% |
| Stocks and contracts in progress | 3 | €350 | €3,100 | +€2,750 | +786% |
| Stocks | 30/36 | €350 | €3,100 | +€2,750 | +786% |
| Amounts receivable within one year | 40/41 | €80,332 | €51,117 | -€29,215 | -36.4% |
| Trade receivables | 40 | €60,558 | €29,752 | -€30,806 | -50.9% |
| Other amounts receivable | 41 | €19,774 | €21,365 | +€1,591 | +8.0% |
| Cash at bank and in hand | 54/58 | €5,757 | €16,697 | +€10,939 | +190% |
| Deferred charges and accrued income | 490/1 | €1,058 | €2,394 | +€1,336 | +126% |
| Total equity and liabilities | 10/49 | €110,888 | €85,137 | -€25,752 | -23.2% |
| Equity | 10/15 | €72,183 | €73,391 | +€1,207 | +1.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €69,183 | €70,391 | +€1,207 | +1.7% |
| Amounts payable | 17/49 | €38,705 | €11,746 | -€26,959 | -69.7% |
| Amounts payable after more than one year | 17 | €10,327 | - | -€10,327 | |
| Financial debts | 170/4 | €10,327 | - | -€10,327 | |
| Amounts payable within one year | 42/48 | €28,378 | €11,746 | -€16,632 | -58.6% |
| Current portion of amounts payable after more than one year | 42 | €8,331 | €9,938 | +€1,607 | +19.3% |
| Trade debts | 44 | €6,387 | €0 | -€6,387 | -100% |
| Suppliers | 440/4 | €6,387 | €0 | -€6,387 | -100% |
| Taxes, remuneration and social security | 45 | €13,660 | €1,808 | -€11,852 | -86.8% |
| Taxes | 450/3 | €13,660 | €1,808 | -€11,852 | -86.8% |
| Non-recurring operating income | 76A | - | €10,117 | +€10,117 | |
| Remuneration, social security and pensions | 62 | - | €40 | +€40 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,114 | €5,690 | -€7,424 | -56.6% |
| Other operating charges | 640/8 | €876 | €1,365 | +€488 | +55.7% |
| Non-recurring operating charges | 66A | - | €937 | +€937 | |
| Gross operating margin | 9900 | €18,588 | €11,054 | -€7,533 | -40.5% |
| Operating profit (loss) | 9901 | €4,597 | €3,023 | -€1,574 | -34.2% |
| Financial income | 75/76B | €89 | €430 | +€341 | +382% |
| Recurring financial income | 75 | €89 | €430 | +€341 | +382% |
| Financial charges | 65/66B | €1,580 | €1,050 | -€530 | -33.5% |
| Recurring financial charges | 65 | €1,580 | €1,050 | -€530 | -33.5% |
| Profit (loss) for the period before taxes | 9903 | €3,106 | €2,403 | -€703 | -22.6% |
| Income taxes | 67/77 | €1,237 | €1,196 | -€41 | -3.3% |
| Profit (loss) for the period | 9904 | €1,870 | €1,207 | -€663 | -35.4% |
| Profit (loss) for the period to be appropriated | 9905 | €1,870 | €1,207 | -€663 | -35.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.