VGGPNEUMO: 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.
VGGPNEUMO
Largest movements
- Receivables within one year -€18,325
down €18,325 (-68.8%), from €26,616 to €8,291
- Cash -€16,019
down €16,019 (-12.6%), from €127,280 to €111,260
mainly Contributions, distributions and other (-€62,900) and Tax, wage and social debts (-€38,882)
- Tangible fixed assets +€3,548
up €3,548 (+101%), from €3,521 to €7,069
of which Furniture and vehicles: +€4,219
- Tax, wage and social debts -€38,882
down €38,882 (-82.0%), from €47,400 to €8,519
- Other debts +€18,856
up €18,856 (+864%), from €2,182 to €21,038
- Trade debts -€6,079
down €6,079 (-94.2%), from €6,452 to €373
- Reserves -€3,600
down €3,600 (-5.6%), from €64,760 to €61,160
- Gross operating margin -€6,786
down €6,786 (-7.4%), from €91,196 to €84,410
- Taxes +€4,552
up €4,552 (+24.0%), from €18,932 to €23,483
- Financial income -€3,455
down €3,455 (-79.4%), from €4,351 to €895
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €157,529 | €126,813 | -€30,716 | -19.5% |
| Fixed assets | 21/28 | €3,521 | €7,069 | +€3,548 | +101% |
| Tangible fixed assets | 22/27 | €3,521 | €7,069 | +€3,548 | +101% |
| Plant, machinery and equipment | 23 | €591 | €477 | -€114 | -19.3% |
| Furniture and vehicles | 24 | €875 | €5,094 | +€4,219 | +482% |
| Other tangible fixed assets | 26 | €2,054 | €1,497 | -€557 | -27.1% |
| Current assets | 29/58 | €154,008 | €119,745 | -€34,263 | -22.2% |
| Amounts receivable within one year | 40/41 | €26,616 | €8,291 | -€18,325 | -68.8% |
| Trade receivables | 40 | €26,616 | €8,291 | -€18,325 | -68.8% |
| Cash at bank and in hand | 54/58 | €127,280 | €111,260 | -€16,019 | -12.6% |
| Deferred charges and accrued income | 490/1 | €113 | €193 | +€80 | +71.4% |
| Total equity and liabilities | 10/49 | €157,529 | €126,813 | -€30,716 | -19.5% |
| Equity | 10/15 | €100,466 | €96,883 | -€3,583 | -3.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €64,760 | €61,160 | -€3,600 | -5.6% |
| Distributable reserves | 133 | €64,760 | €61,160 | -€3,600 | -5.6% |
| Profit (loss) carried forward | 14 | €23,306 | €23,323 | +€17 | +0.1% |
| Amounts payable | 17/49 | €57,063 | €29,930 | -€27,133 | -47.5% |
| Amounts payable within one year | 42/48 | €57,063 | €29,930 | -€27,133 | -47.5% |
| Current portion of amounts payable after more than one year | 42 | €1,029 | - | -€1,029 | |
| Trade debts | 44 | €6,452 | €373 | -€6,079 | -94.2% |
| Suppliers | 440/4 | €6,452 | €373 | -€6,079 | -94.2% |
| Taxes, remuneration and social security | 45 | €47,400 | €8,519 | -€38,882 | -82.0% |
| Taxes | 450/3 | €47,400 | €8,519 | -€38,882 | -82.0% |
| Other amounts payable | 47/48 | €2,182 | €21,038 | +€18,856 | +864% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,172 | €1,236 | +€64 | +5.5% |
| Other operating charges | 640/8 | €528 | €849 | +€321 | +60.7% |
| Gross operating margin | 9900 | €91,196 | €84,410 | -€6,786 | -7.4% |
| Operating profit (loss) | 9901 | €89,496 | €82,325 | -€7,171 | -8.0% |
| Financial income | 75/76B | €4,351 | €895 | -€3,455 | -79.4% |
| Recurring financial income | 75 | €4,351 | €895 | -€3,455 | -79.4% |
| Financial charges | 65/66B | €528 | €420 | -€107 | -20.3% |
| Recurring financial charges | 65 | €528 | €420 | -€107 | -20.3% |
| Profit (loss) for the period before taxes | 9903 | €93,319 | €82,800 | -€10,519 | -11.3% |
| Income taxes | 67/77 | €18,932 | €23,483 | +€4,552 | +24.0% |
| Profit (loss) for the period | 9904 | €74,388 | €59,317 | -€15,071 | -20.3% |
| Profit (loss) for the period to be appropriated | 9905 | €74,388 | €59,317 | -€15,071 | -20.3% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.