VH VENTURES: 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 VENTURES
Largest movements
- Tangible fixed assets -€19,211
down €19,211 (-5.3%), from €365,550 to €346,339
of which Land and buildings: -€10,621
- Stocks and contracts +€5,559
up €5,559 (+41.9%), from €13,274 to €18,833
- Debts after one year -€20,814
down €20,814 (-8.7%), from €240,141 to €219,327
of which Financial debts: -€22,594
- Profit (loss) carried forward +€6,448
up €6,448, from -€5,303 to €1,145
- Other debts -€5,275
down €5,275 (-4.4%), from €120,709 to €115,434
- Gross operating margin +€15,354
up €15,354 (+55.8%), from €27,499 to €42,853
- Financial charges +€3,553
up €3,553 (+49.8%), from €7,131 to €10,684
- Depreciation -€2,926
down €2,926 (-12.4%), from €23,623 to €20,697
- Taxes +€2,083
up €2,083 (+368.2%), from €566 to €2,648
- Other operating charges -€758
down €758 (-41.3%), from €1,837 to €1,079
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 | €390,115 | €377,766 | -€12,349 | -3.2% |
| Fixed assets | 21/28 | €365,550 | €346,339 | -€19,211 | -5.3% |
| Tangible fixed assets | 22/27 | €365,550 | €346,339 | -€19,211 | -5.3% |
| Land and buildings | 22 | €333,629 | €323,007 | -€10,621 | -3.2% |
| Furniture and vehicles | 24 | €31,921 | €23,332 | -€8,589 | -26.9% |
| Current assets | 29/58 | €24,565 | €31,427 | +€6,861 | +27.9% |
| Stocks and contracts in progress | 3 | €13,274 | €18,833 | +€5,559 | +41.9% |
| Stocks | 30/36 | €13,274 | €18,833 | +€5,559 | +41.9% |
| Amounts receivable within one year | 40/41 | €9,152 | €10,942 | +€1,790 | +19.6% |
| Trade receivables | 40 | €9,152 | €10,942 | +€1,790 | +19.6% |
| Cash at bank and in hand | 54/58 | €788 | €502 | -€286 | -36.3% |
| Deferred charges and accrued income | 490/1 | €1,352 | €1,149 | -€202 | -15.0% |
| Total equity and liabilities | 10/49 | €390,115 | €377,766 | -€12,349 | -3.2% |
| Equity | 10/15 | -€5,303 | €4,145 | +€9,448 | |
| Contributions | 10/11 | - | €3,000 | +€3,000 | |
| Profit (loss) carried forward | 14 | -€5,303 | €1,145 | +€6,448 | |
| Amounts payable | 17/49 | €395,418 | €373,621 | -€21,797 | -5.5% |
| Amounts payable after more than one year | 17 | €240,141 | €219,327 | -€20,814 | -8.7% |
| Financial debts | 170/4 | €240,141 | €217,547 | -€22,594 | -9.4% |
| Other amounts payable | 178/9 | - | €1,780 | +€1,780 | |
| Amounts payable within one year | 42/48 | €155,278 | €154,294 | -€984 | -0.6% |
| Current portion of amounts payable after more than one year | 42 | €19,436 | €20,814 | +€1,378 | +7.1% |
| Trade debts | 44 | €11,541 | €13,152 | +€1,611 | +14.0% |
| Suppliers | 440/4 | €11,541 | €13,152 | +€1,611 | +14.0% |
| Taxes, remuneration and social security | 45 | €3,592 | €4,895 | +€1,303 | +36.3% |
| Taxes | 450/3 | €2,092 | €4,895 | +€2,803 | +134.0% |
| Remuneration and social security | 454/9 | €1,500 | €0 | -€1,500 | -100.0% |
| Other amounts payable | 47/48 | €120,709 | €115,434 | -€5,275 | -4.4% |
| Remuneration, social security and pensions | 62 | - | €461 | +€461 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,623 | €20,697 | -€2,926 | -12.4% |
| Other operating charges | 640/8 | €1,837 | €1,079 | -€758 | -41.3% |
| Non-recurring operating charges | 66A | - | €840 | +€840 | |
| Gross operating margin | 9900 | €27,499 | €42,853 | +€15,354 | +55.8% |
| Operating profit (loss) | 9901 | €2,039 | €19,776 | +€17,737 | +869.9% |
| Financial income | 75/76B | €355 | €4 | -€351 | -99.0% |
| Recurring financial income | 75 | €355 | €4 | -€351 | -99.0% |
| Financial charges | 65/66B | €7,131 | €10,684 | +€3,553 | +49.8% |
| Recurring financial charges | 65 | €7,131 | €10,684 | +€3,553 | +49.8% |
| Profit (loss) for the period before taxes | 9903 | -€4,738 | €9,096 | +€13,834 | |
| Income taxes | 67/77 | €566 | €2,648 | +€2,083 | +368.2% |
| Profit (loss) for the period | 9904 | -€5,303 | €6,448 | +€11,751 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,303 | €6,448 | +€11,751 |
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 9 October 2026 via checked.be.