VHEstate: 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.
VHEstate
Largest movements
- Stocks and contracts -€459,943
down €459,943 (-100.0%), from €459,943 to €0
- Cash +€10,698
up €10,698 (+346.4%), from €3,088 to €13,786
mainly Stocks and contracts (+€459,943) and Net result for the year (+€12,749)
- Receivables within one year -€5,297
down €5,297 (-100.0%), from €5,297 to €0
of which Trade receivables: -€5,297
- Debts after one year -€465,580
down €465,580 (-95.4%), from €488,017 to €22,437
- Profit (loss) carried forward +€12,749
up €12,749 (+46.1%), from -€27,667 to -€14,918
- Financial charges -€19,895
down €19,895 (-86.2%), from €23,086 to €3,191
- Other operating charges +€2,019
up €2,019 (+479.1%), from €421 to €2,440
- Gross operating margin -€513
down €513 (-2.7%), from €18,893 to €18,380
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 | €468,672 | €13,786 | -€454,886 | -97.1% |
| Current assets | 29/58 | €468,672 | €13,786 | -€454,886 | -97.1% |
| Stocks and contracts in progress | 3 | €459,943 | €0 | -€459,943 | -100.0% |
| Stocks | 30/36 | €459,943 | €0 | -€459,943 | -100.0% |
| Amounts receivable within one year | 40/41 | €5,297 | €0 | -€5,297 | -100.0% |
| Trade receivables | 40 | €5,297 | €0 | -€5,297 | -100.0% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €3,088 | €13,786 | +€10,698 | +346.4% |
| Deferred charges and accrued income | 490/1 | €344 | €0 | -€344 | -100.0% |
| Total equity and liabilities | 10/49 | €468,672 | €13,786 | -€454,886 | -97.1% |
| Equity | 10/15 | -€22,667 | -€9,918 | +€12,749 | +56.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€27,667 | -€14,918 | +€12,749 | +46.1% |
| Amounts payable | 17/49 | €491,339 | €23,704 | -€467,635 | -95.2% |
| Amounts payable after more than one year | 17 | €488,017 | €22,437 | -€465,580 | -95.4% |
| Financial debts | 170/4 | €488,017 | €22,437 | -€465,580 | -95.4% |
| Amounts payable within one year | 42/48 | €2,742 | €1,267 | -€1,476 | -53.8% |
| Trade debts | 44 | €2,116 | €730 | -€1,386 | -65.5% |
| Suppliers | 440/4 | €2,116 | €730 | -€1,386 | -65.5% |
| Taxes, remuneration and social security | 45 | €627 | €537 | -€90 | -14.3% |
| Taxes | 450/3 | €627 | €537 | -€90 | -14.3% |
| Accrued charges and deferred income | 492/3 | €580 | €0 | -€580 | -100.0% |
| Other operating charges | 640/8 | €421 | €2,440 | +€2,019 | +479.1% |
| Gross operating margin | 9900 | €18,893 | €18,380 | -€513 | -2.7% |
| Operating profit (loss) | 9901 | €18,472 | €15,940 | -€2,532 | -13.7% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €23,086 | €3,191 | -€19,895 | -86.2% |
| Recurring financial charges | 65 | €23,086 | €3,191 | -€19,895 | -86.2% |
| Profit (loss) for the period before taxes | 9903 | -€4,614 | €12,749 | +€17,363 | |
| Profit (loss) for the period | 9904 | -€4,614 | €12,749 | +€17,363 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,614 | €12,749 | +€17,363 |
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 6 October 2026 via checked.be.