VHBM: what changed
Two fiscal 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.
VHBM
Largest movements
- Receivables within one year +€10,493
up €10,493 (+161.9%), from €6,483 to €16,975
of which Other amounts receivable: +€5,656
- Cash +€9,408
up €9,408 (+17.3%), from €54,285 to €63,693
mainly Net result for the year (+€19,799) and Trade debts (+€1,407)
- Profit (loss) carried forward +€19,799
up €19,799 (+71.1%), from €27,832 to €47,631
- Other debts -€1,719
down €1,719 (-99.4%), from €1,730 to €11
- Trade debts +€1,407
up €1,407 (+51.1%), from €2,752 to €4,159
- Gross operating margin +€36,885
up €36,885, from -€11,448 to €25,436
- Taxes +€4,357
new in 2025: €4,357
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 | €62,683 | €82,286 | +€19,603 | +31.3% |
| Fixed assets | 21/28 | €1,430 | €1,090 | -€340 | -23.8% |
| Tangible fixed assets | 22/27 | €1,430 | €1,090 | -€340 | -23.8% |
| Furniture and vehicles | 24 | €1,430 | €1,090 | -€340 | -23.8% |
| Current assets | 29/58 | €61,254 | €81,197 | +€19,943 | +32.6% |
| Amounts receivable within one year | 40/41 | €6,483 | €16,975 | +€10,493 | +161.9% |
| Trade receivables | 40 | €6,451 | €11,288 | +€4,837 | +75.0% |
| Other amounts receivable | 41 | €32 | €5,687 | +€5,656 | +17785.0% |
| Cash at bank and in hand | 54/58 | €54,285 | €63,693 | +€9,408 | +17.3% |
| Deferred charges and accrued income | 490/1 | €486 | €528 | +€42 | +8.6% |
| Total equity and liabilities | 10/49 | €62,683 | €82,286 | +€19,603 | +31.3% |
| Equity | 10/15 | €57,832 | €77,631 | +€19,799 | +34.2% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €27,832 | €47,631 | +€19,799 | +71.1% |
| Amounts payable | 17/49 | €4,851 | €4,656 | -€196 | -4.0% |
| Amounts payable within one year | 42/48 | €4,851 | €4,656 | -€196 | -4.0% |
| Trade debts | 44 | €2,752 | €4,159 | +€1,407 | +51.1% |
| Suppliers | 440/4 | €2,752 | €4,159 | +€1,407 | +51.1% |
| Taxes, remuneration and social security | 45 | €369 | €486 | +€116 | +31.5% |
| Taxes | 450/3 | €369 | €486 | +€116 | +31.5% |
| Other amounts payable | 47/48 | €1,730 | €11 | -€1,719 | -99.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,009 | €1,066 | +€57 | +5.7% |
| Other operating charges | 640/8 | €148 | €92 | -€56 | -37.9% |
| Gross operating margin | 9900 | -€11,448 | €25,436 | +€36,885 | |
| Operating profit (loss) | 9901 | -€12,605 | €24,278 | +€36,883 | |
| Financial income | 75/76B | €106 | €44 | -€62 | -58.8% |
| Recurring financial income | 75 | €106 | €44 | -€62 | -58.8% |
| Financial charges | 65/66B | €185 | €166 | -€19 | -10.2% |
| Recurring financial charges | 65 | €185 | €166 | -€19 | -10.2% |
| Profit (loss) for the period before taxes | 9903 | -€12,684 | €24,156 | +€36,840 | |
| Income taxes | 67/77 | - | €4,357 | +€4,357 | |
| Profit (loss) for the period | 9904 | -€12,684 | €19,799 | +€32,483 | |
| Profit (loss) for the period to be appropriated | 9905 | -€12,684 | €19,799 | +€32,483 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.