VH GREEN: 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.
VH GREEN
Largest movements
- Tangible fixed assets -€26,195
down €26,195 (-11.1%), from €235,678 to €209,482
- Cash +€5,159
up €5,159 (+98.0%), from €5,265 to €10,424
mainly Depreciation (+€26,195) and Net result for the year (+€11,777)
- Receivables within one year -€3,003
no longer reported in 2025 (was €3,003)
- Debts after one year -€36,625
down €36,625 (-20.0%), from €182,855 to €146,230
- Profit (loss) carried forward +€11,777
up €11,777, from -€3,180 to €8,597
- Tax, wage and social debts -€6,034
down €6,034 (-80.3%), from €7,517 to €1,483
- Other debts +€5,000
up €5,000 (+374.7%), from €1,334 to €6,334
- Gross operating margin +€10,408
up €10,408 (+26.9%), from €38,664 to €49,071
- Depreciation +€4,859
up €4,859 (+22.8%), from €21,336 to €26,195
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 | €245,912 | €221,905 | -€24,006 | -9.8% |
| Fixed assets | 21/28 | €235,678 | €209,482 | -€26,195 | -11.1% |
| Tangible fixed assets | 22/27 | €235,678 | €209,482 | -€26,195 | -11.1% |
| Plant, machinery and equipment | 23 | €235,678 | €209,482 | -€26,195 | -11.1% |
| Current assets | 29/58 | €10,234 | €12,423 | +€2,189 | +21.4% |
| Amounts receivable within one year | 40/41 | €3,003 | - | -€3,003 | |
| Other amounts receivable | 41 | €3,003 | - | -€3,003 | |
| Cash at bank and in hand | 54/58 | €5,265 | €10,424 | +€5,159 | +98.0% |
| Deferred charges and accrued income | 490/1 | €1,966 | €1,999 | +€33 | +1.7% |
| Total equity and liabilities | 10/49 | €245,912 | €221,905 | -€24,006 | -9.8% |
| Equity | 10/15 | €16,820 | €28,597 | +€11,777 | +70.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,180 | €8,597 | +€11,777 | |
| Amounts payable | 17/49 | €229,091 | €193,308 | -€35,783 | -15.6% |
| Amounts payable after more than one year | 17 | €182,855 | €146,230 | -€36,625 | -20.0% |
| Financial debts | 170/4 | €182,855 | €146,230 | -€36,625 | -20.0% |
| Amounts payable within one year | 42/48 | €46,236 | €47,078 | +€842 | +1.8% |
| Current portion of amounts payable after more than one year | 42 | €34,890 | €36,625 | +€1,735 | +5.0% |
| Trade debts | 44 | €2,495 | €2,636 | +€141 | +5.6% |
| Suppliers | 440/4 | €2,495 | €2,636 | +€141 | +5.6% |
| Taxes, remuneration and social security | 45 | €7,517 | €1,483 | -€6,034 | -80.3% |
| Taxes | 450/3 | €7,517 | €1,483 | -€6,034 | -80.3% |
| Other amounts payable | 47/48 | €1,334 | €6,334 | +€5,000 | +374.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,336 | €26,195 | +€4,859 | +22.8% |
| Gross operating margin | 9900 | €38,664 | €49,071 | +€10,408 | +26.9% |
| Operating profit (loss) | 9901 | €17,328 | €22,876 | +€5,548 | +32.0% |
| Financial charges | 65/66B | €10,810 | €11,099 | +€289 | +2.7% |
| Recurring financial charges | 65 | €10,810 | €11,099 | +€289 | +2.7% |
| Profit (loss) for the period before taxes | 9903 | €6,517 | €11,777 | +€5,259 | +80.7% |
| Profit (loss) for the period | 9904 | €6,517 | €11,777 | +€5,259 | +80.7% |
| Profit (loss) for the period to be appropriated | 9905 | €6,517 | €11,777 | +€5,259 | +80.7% |
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 12 October 2026 via checked.be.