VG INTERIEUR: 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.
VG INTERIEUR
Largest movements
- Stocks and contracts +€125,280
up €125,280 (+79.5%), from €157,495 to €282,775
of which Contracts in progress: +€148,000
- Cash -€38,884
down €38,884 (-73.1%), from €53,225 to €14,342
mainly Stocks and contracts (-€125,280) and Other debts (-€64,824)
- Receivables within one year -€37,089
down €37,089 (-87.9%), from €42,207 to €5,117
of which Other amounts receivable: -€22,654
- Tangible fixed assets -€33,405
down €33,405 (-23.6%), from €141,304 to €107,899
of which Plant, machinery and equipment: -€18,749
- Deferred charges and accrued income -€7,643
down €7,643 (-26.1%), from €29,249 to €21,606
- Short-term financial debts +€105,000
up €105,000 (+140%), from €75,000 to €180,000
- Other debts -€64,824
down €64,824 (-76.9%), from €84,256 to €19,432
- Debts after one year -€25,323
down €25,323 (-31.5%), from €80,406 to €55,083
- Trade debts -€10,553
down €10,553 (-60.9%), from €17,322 to €6,769
- Reserves +€6,494
up €6,494 (+4.9%), from €131,582 to €138,076
- Depreciation -€9,368
down €9,368 (-21.9%), from €42,772 to €33,405
- Gross operating margin -€4,273
down €4,273 (-7.6%), from €56,530 to €52,257
- Financial charges +€3,974
up €3,974 (+46.4%), from €8,560 to €12,534
- Other operating charges -€1,881
down €1,881 (-91.2%), from €2,063 to €182
- Taxes +€1,051
up €1,051 (+119%), from €880 to €1,931
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 | €423,480 | €431,740 | +€8,260 | +2.0% |
| Fixed assets | 21/28 | €141,304 | €107,899 | -€33,405 | -23.6% |
| Tangible fixed assets | 22/27 | €141,304 | €107,899 | -€33,405 | -23.6% |
| Plant, machinery and equipment | 23 | €97,992 | €79,244 | -€18,749 | -19.1% |
| Furniture and vehicles | 24 | €40,509 | €26,255 | -€14,254 | -35.2% |
| Other tangible fixed assets | 26 | €2,803 | €2,401 | -€402 | -14.3% |
| Current assets | 29/58 | €282,176 | €323,840 | +€41,664 | +14.8% |
| Stocks and contracts in progress | 3 | €157,495 | €282,775 | +€125,280 | +79.5% |
| Stocks | 30/36 | €47,240 | €24,520 | -€22,720 | -48.1% |
| Contracts in progress | 37 | €110,255 | €258,255 | +€148,000 | +134% |
| Amounts receivable within one year | 40/41 | €42,207 | €5,117 | -€37,089 | -87.9% |
| Trade receivables | 40 | €17,607 | €3,172 | -€14,436 | -82.0% |
| Other amounts receivable | 41 | €24,599 | €1,946 | -€22,654 | -92.1% |
| Cash at bank and in hand | 54/58 | €53,225 | €14,342 | -€38,884 | -73.1% |
| Deferred charges and accrued income | 490/1 | €29,249 | €21,606 | -€7,643 | -26.1% |
| Total equity and liabilities | 10/49 | €423,480 | €431,740 | +€8,260 | +2.0% |
| Equity | 10/15 | €138,872 | €143,076 | +€4,204 | +3.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €131,582 | €138,076 | +€6,494 | +4.9% |
| Distributable reserves | 133 | €131,582 | €138,076 | +€6,494 | +4.9% |
| Profit (loss) carried forward | 14 | €2,290 | €0 | -€2,290 | -100% |
| Amounts payable | 17/49 | €284,608 | €288,663 | +€4,055 | +1.4% |
| Amounts payable after more than one year | 17 | €80,406 | €55,083 | -€25,323 | -31.5% |
| Financial debts | 170/4 | €80,406 | €55,083 | -€25,323 | -31.5% |
| Amounts payable within one year | 42/48 | €204,202 | €233,580 | +€29,378 | +14.4% |
| Current portion of amounts payable after more than one year | 42 | €27,500 | €25,323 | -€2,177 | -7.9% |
| Financial debts | 43 | €75,000 | €180,000 | +€105,000 | +140% |
| Credit institutions | 430/8 | €75,000 | €180,000 | +€105,000 | +140% |
| Trade debts | 44 | €17,322 | €6,769 | -€10,553 | -60.9% |
| Suppliers | 440/4 | €17,322 | €6,769 | -€10,553 | -60.9% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €125 | €2,056 | +€1,931 | +1,550% |
| Taxes | 450/3 | €125 | €2,056 | +€1,931 | +1,550% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €84,256 | €19,432 | -€64,824 | -76.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,772 | €33,405 | -€9,368 | -21.9% |
| Other operating charges | 640/8 | €2,063 | €182 | -€1,881 | -91.2% |
| Gross operating margin | 9900 | €56,530 | €52,257 | -€4,273 | -7.6% |
| Operating profit (loss) | 9901 | €11,695 | €18,670 | +€6,975 | +59.6% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €8,560 | €12,534 | +€3,974 | +46.4% |
| Recurring financial charges | 65 | €8,560 | €12,534 | +€3,974 | +46.4% |
| Profit (loss) for the period before taxes | 9903 | €3,134 | €6,136 | +€3,002 | +95.8% |
| Income taxes | 67/77 | €880 | €1,931 | +€1,051 | +119% |
| Profit (loss) for the period | 9904 | €2,254 | €4,204 | +€1,950 | +86.5% |
| Profit (loss) for the period to be appropriated | 9905 | €2,254 | €4,204 | +€1,950 | +86.5% |
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 15 October 2026 via checked.be.