VHB SERVICES: 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.
VHB SERVICES
Largest movements
- Tangible fixed assets -€10,774
down €10,774 (-12.9%), from €83,339 to €72,565
of which Furniture and vehicles: -€11,037
- Cash +€8,417
up €8,417 (+18.4%), from €45,797 to €54,214
mainly Net result for the year (+€34,363) and Depreciation (+€24,034)
- Receivables within one year +€4,974
up €4,974 (+38.6%), from €12,875 to €17,849
of which Other amounts receivable: +€4,349
- Deferred charges and accrued income +€1,754
up €1,754 (+391%), from €449 to €2,203
- Reserves +€33,530
up €33,530 (+53.4%), from €62,796 to €96,326
- Debts after one year -€12,476
down €12,476 (-50.1%), from €24,898 to €12,422
- Current portion of long-term debt -€7,175
down €7,175 (-40.5%), from €17,712 to €10,537
- Tax, wage and social debts -€5,281
down €5,281 (-18.6%), from €28,353 to €23,072
- Trade debts -€4,202
down €4,202 (-78.6%), from €5,343 to €1,141
- Gross operating margin +€9,488
up €9,488 (+15.7%), from €60,465 to €69,953
- Depreciation +€4,066
up €4,066 (+20.4%), from €19,968 to €24,034
- Taxes +€1,218
up €1,218 (+15.1%), from €8,047 to €9,265
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 | €142,460 | €146,831 | +€4,371 | +3.1% |
| Fixed assets | 21/28 | €83,339 | €72,565 | -€10,774 | -12.9% |
| Tangible fixed assets | 22/27 | €83,339 | €72,565 | -€10,774 | -12.9% |
| Plant, machinery and equipment | 23 | - | €804 | +€804 | |
| Furniture and vehicles | 24 | €78,567 | €67,530 | -€11,037 | -14.0% |
| Other tangible fixed assets | 26 | €4,772 | €4,230 | -€542 | -11.4% |
| Current assets | 29/58 | €59,122 | €74,266 | +€15,145 | +25.6% |
| Amounts receivable within one year | 40/41 | €12,875 | €17,849 | +€4,974 | +38.6% |
| Trade receivables | 40 | €10,991 | €11,616 | +€625 | +5.7% |
| Other amounts receivable | 41 | €1,884 | €6,233 | +€4,349 | +231% |
| Cash at bank and in hand | 54/58 | €45,797 | €54,214 | +€8,417 | +18.4% |
| Deferred charges and accrued income | 490/1 | €449 | €2,203 | +€1,754 | +391% |
| Total equity and liabilities | 10/49 | €142,460 | €146,831 | +€4,371 | +3.1% |
| Equity | 10/15 | €65,296 | €98,826 | +€33,530 | +51.4% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €62,796 | €96,326 | +€33,530 | +53.4% |
| Distributable reserves | 133 | €62,796 | €96,326 | +€33,530 | +53.4% |
| Amounts payable | 17/49 | €77,164 | €48,005 | -€29,159 | -37.8% |
| Amounts payable after more than one year | 17 | €24,898 | €12,422 | -€12,476 | -50.1% |
| Financial debts | 170/4 | €24,898 | €12,422 | -€12,476 | -50.1% |
| Amounts payable within one year | 42/48 | €52,267 | €35,583 | -€16,684 | -31.9% |
| Current portion of amounts payable after more than one year | 42 | €17,712 | €10,537 | -€7,175 | -40.5% |
| Trade debts | 44 | €5,343 | €1,141 | -€4,202 | -78.6% |
| Suppliers | 440/4 | €5,343 | €1,141 | -€4,202 | -78.6% |
| Taxes, remuneration and social security | 45 | €28,353 | €23,072 | -€5,281 | -18.6% |
| Taxes | 450/3 | €28,353 | €23,072 | -€5,281 | -18.6% |
| Other amounts payable | 47/48 | €859 | €833 | -€26 | -3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,968 | €24,034 | +€4,066 | +20.4% |
| Other operating charges | 640/8 | €632 | €829 | +€197 | +31.1% |
| Gross operating margin | 9900 | €60,465 | €69,953 | +€9,488 | +15.7% |
| Operating profit (loss) | 9901 | €39,864 | €45,090 | +€5,225 | +13.1% |
| Financial income | 75/76B | €7 | €439 | +€433 | +6,487% |
| Recurring financial income | 75 | €7 | €439 | +€433 | +6,487% |
| Financial charges | 65/66B | €2,450 | €1,901 | -€550 | -22.4% |
| Recurring financial charges | 65 | €2,450 | €1,901 | -€550 | -22.4% |
| Profit (loss) for the period before taxes | 9903 | €37,421 | €43,628 | +€6,208 | +16.6% |
| Income taxes | 67/77 | €8,047 | €9,265 | +€1,218 | +15.1% |
| Profit (loss) for the period | 9904 | €29,373 | €34,363 | +€4,990 | +17.0% |
| Profit (loss) for the period to be appropriated | 9905 | €29,373 | €34,363 | +€4,990 | +17.0% |
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 15 October 2026 via checked.be.