VH Projecten: 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 Projecten
Largest movements
- Cash +€46,686
up €46,686 (+1,580%), from €2,955 to €49,642
mainly Deferred charges and accrued income (+€40,694) and Net result for the year (+€16,712)
- Deferred charges and accrued income -€40,694
down €40,694 (-97.9%), from €41,548 to €854
- Receivables within one year +€14,441
up €14,441 (+244%), from €5,927 to €20,368
of which Other amounts receivable: +€13,381
- Tangible fixed assets -€1,753
down €1,753 (-20.2%), from €8,673 to €6,920
of which Land and buildings: -€1,145
- Reserves +€16,707
up €16,707 (+37.9%), from €44,090 to €60,797
of which Distributable reserves: +€14,847
- Other debts +€2,098
up €2,098, from €0 to €2,098
- Tax, wage and social debts +€958
up €958 (+22.8%), from €4,196 to €5,155
- Gross operating margin -€35,902
down €35,902 (-56.1%), from €63,940 to €28,038
- Taxes -€9,337
down €9,337 (-53.3%), from €17,511 to €8,174
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 | €59,103 | €77,783 | +€18,681 | +31.6% |
| Fixed assets | 21/28 | €8,673 | €6,920 | -€1,753 | -20.2% |
| Tangible fixed assets | 22/27 | €8,673 | €6,920 | -€1,753 | -20.2% |
| Land and buildings | 22 | €6,151 | €5,005 | -€1,145 | -18.6% |
| Plant, machinery and equipment | 23 | €2,522 | €1,915 | -€607 | -24.1% |
| Current assets | 29/58 | €50,430 | €70,863 | +€20,433 | +40.5% |
| Amounts receivable within one year | 40/41 | €5,927 | €20,368 | +€14,441 | +244% |
| Trade receivables | 40 | €493 | €1,553 | +€1,060 | +215% |
| Other amounts receivable | 41 | €5,434 | €18,814 | +€13,381 | +246% |
| Cash at bank and in hand | 54/58 | €2,955 | €49,642 | +€46,686 | +1,580% |
| Deferred charges and accrued income | 490/1 | €41,548 | €854 | -€40,694 | -97.9% |
| Total equity and liabilities | 10/49 | €59,103 | €77,783 | +€18,681 | +31.6% |
| Equity | 10/15 | €52,269 | €68,981 | +€16,712 | +32.0% |
| Contributions | 10/11 | €8,184 | €8,184 | = | 0.0% |
| Reserves | 13 | €44,090 | €60,797 | +€16,707 | +37.9% |
| Non-distributable reserves | 130/1 | - | €1,860 | +€1,860 | |
| Reserves not available under the articles | 1311 | - | €1,860 | +€1,860 | |
| Distributable reserves | 133 | €44,090 | €58,937 | +€14,847 | +33.7% |
| Profit (loss) carried forward | 14 | -€5 | €0 | +€5 | |
| Amounts payable | 17/49 | €6,834 | €8,802 | +€1,968 | +28.8% |
| Amounts payable within one year | 42/48 | €6,447 | €8,802 | +€2,356 | +36.5% |
| Financial debts | 43 | - | €0 | = | |
| Credit institutions | 430/8 | - | €0 | = | |
| Trade debts | 44 | €2,250 | €1,549 | -€701 | -31.1% |
| Suppliers | 440/4 | €2,250 | €1,549 | -€701 | -31.1% |
| Taxes, remuneration and social security | 45 | €4,196 | €5,155 | +€958 | +22.8% |
| Taxes | 450/3 | €4,196 | €5,155 | +€958 | +22.8% |
| Other amounts payable | 47/48 | €0 | €2,098 | +€2,098 | |
| Accrued charges and deferred income | 492/3 | €387 | €0 | -€387 | -100% |
| Remuneration, social security and pensions | 62 | €157 | €0 | -€157 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,819 | €1,753 | -€66 | -3.6% |
| Other operating charges | 640/8 | €867 | €528 | -€340 | -39.2% |
| Gross operating margin | 9900 | €63,940 | €28,038 | -€35,902 | -56.1% |
| Operating profit (loss) | 9901 | €61,097 | €25,758 | -€35,339 | -57.8% |
| Financial income | 75/76B | €2 | €8 | +€5 | +220% |
| Recurring financial income | 75 | €2 | €8 | +€5 | +220% |
| Financial charges | 65/66B | €255 | €879 | +€624 | +244% |
| Recurring financial charges | 65 | €255 | €879 | +€624 | +244% |
| Profit (loss) for the period before taxes | 9903 | €60,844 | €24,886 | -€35,957 | -59.1% |
| Income taxes | 67/77 | €17,511 | €8,174 | -€9,337 | -53.3% |
| Profit (loss) for the period | 9904 | €43,332 | €16,712 | -€26,620 | -61.4% |
| Profit (loss) for the period to be appropriated | 9905 | €43,332 | €16,712 | -€26,620 | -61.4% |
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 29 October 2026 via checked.be.