VH Project & Ontwikkeling: what changed
VH Project & Ontwikkeling
Largest movements
- Stocks and contracts -€218,532
down €218,532 (-66.1%), from €330,532 to €112,000
- Cash +€98,951
up €98,951 (+41.7%), from €237,392 to €336,343
mainly Stocks and contracts (+€218,532) and Net result for the year (+€49,797)
- Debts after one year -€175,000
down €175,000 (-81.4%), from €215,000 to €40,000
- Profit (loss) carried forward +€49,797
up €49,797 (+19.4%), from €256,071 to €305,868
- Gross operating margin +€23,288
up €23,288 (+50.2%), from €46,409 to €69,697
- Taxes +€8,265
up €8,265 (+99.2%), from €8,334 to €16,599
- Financial income -€8,122
down €8,122 (-100%), from €8,122 to €0
- Other operating charges -€3,926
down €3,926 (-68.2%), from €5,757 to €1,831
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 | €604,027 | €478,744 | -€125,283 | -20.7% |
| Fixed assets | 21/28 | €27,000 | €27,000 | = | 0.0% |
| Financial fixed assets | 28 | €27,000 | €27,000 | = | 0.0% |
| Current assets | 29/58 | €577,027 | €451,744 | -€125,283 | -21.7% |
| Stocks and contracts in progress | 3 | €330,532 | €112,000 | -€218,532 | -66.1% |
| Stocks | 30/36 | €330,532 | €112,000 | -€218,532 | -66.1% |
| Amounts receivable within one year | 40/41 | €9,103 | €3,401 | -€5,702 | -62.6% |
| Other amounts receivable | 41 | €9,103 | €3,401 | -€5,702 | -62.6% |
| Cash at bank and in hand | 54/58 | €237,392 | €336,343 | +€98,951 | +41.7% |
| Total equity and liabilities | 10/49 | €604,027 | €478,744 | -€125,283 | -20.7% |
| Equity | 10/15 | €296,071 | €345,868 | +€49,797 | +16.8% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €256,071 | €305,868 | +€49,797 | +19.4% |
| Amounts payable | 17/49 | €307,957 | €132,876 | -€175,080 | -56.9% |
| Amounts payable after more than one year | 17 | €215,000 | €40,000 | -€175,000 | -81.4% |
| Financial debts | 170/4 | €215,000 | €40,000 | -€175,000 | -81.4% |
| Amounts payable within one year | 42/48 | €91,357 | €92,876 | +€1,520 | +1.7% |
| Trade debts | 44 | - | €400 | +€400 | |
| Suppliers | 440/4 | - | €400 | +€400 | |
| Other amounts payable | 47/48 | €91,357 | €92,477 | +€1,120 | +1.2% |
| Accrued charges and deferred income | 492/3 | €1,600 | €0 | -€1,600 | -100% |
| Other operating charges | 640/8 | €5,757 | €1,831 | -€3,926 | -68.2% |
| Gross operating margin | 9900 | €46,409 | €69,697 | +€23,288 | +50.2% |
| Operating profit (loss) | 9901 | €40,653 | €67,866 | +€27,213 | +66.9% |
| Financial income | 75/76B | €8,122 | €0 | -€8,122 | -100% |
| Recurring financial income | 75 | €8,122 | €0 | -€8,122 | -100% |
| Financial charges | 65/66B | €2,085 | €1,470 | -€615 | -29.5% |
| Recurring financial charges | 65 | €2,085 | €1,470 | -€615 | -29.5% |
| Profit (loss) for the period before taxes | 9903 | €46,690 | €66,396 | +€19,706 | +42.2% |
| Income taxes | 67/77 | €8,334 | €16,599 | +€8,265 | +99.2% |
| Profit (loss) for the period | 9904 | €38,356 | €49,797 | +€11,441 | +29.8% |
| Profit (loss) for the period to be appropriated | 9905 | €38,356 | €49,797 | +€11,441 | +29.8% |
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.