VHOTRACO: 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.
VHOTRACO
Largest movements
- Tangible fixed assets -€20,797
down €20,797 (-35.0%), from €59,355 to €38,558
of which Furniture and vehicles: -€19,646
- Receivables within one year -€20,211
down €20,211 (-90.1%), from €22,431 to €2,220
of which Trade receivables: -€10,865
- Cash +€1,547
up €1,547 (+29.9%), from €5,169 to €6,715
mainly Depreciation (+€20,797) and Receivables within one year (+€20,211)
- Profit (loss) carried forward -€22,825
down €22,825, from €101 to -€22,724
- Other debts -€15,402
down €15,402 (-32.5%), from €47,352 to €31,950
- Tax, wage and social debts -€3,816
down €3,816 (-97.8%), from €3,902 to €86
- Trade debts +€2,582
new in 2025: €2,582
- Gross operating margin -€68,978
down €68,978 (-94.2%), from €73,201 to €4,223
- Staff costs -€26,703
down €26,703 (-83.6%), from €31,943 to €5,240
- Taxes -€6,503
down €6,503 (-95.9%), from €6,780 to €277
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 | €86,955 | €47,494 | -€39,461 | -45.4% |
| Fixed assets | 21/28 | €59,355 | €38,558 | -€20,797 | -35.0% |
| Tangible fixed assets | 22/27 | €59,355 | €38,558 | -€20,797 | -35.0% |
| Land and buildings | 22 | €3,259 | €2,460 | -€799 | -24.5% |
| Plant, machinery and equipment | 23 | €917 | €565 | -€352 | -38.4% |
| Furniture and vehicles | 24 | €55,179 | €35,533 | -€19,646 | -35.6% |
| Current assets | 29/58 | €27,600 | €8,936 | -€18,664 | -67.6% |
| Amounts receivable within one year | 40/41 | €22,431 | €2,220 | -€20,211 | -90.1% |
| Trade receivables | 40 | €10,865 | - | -€10,865 | |
| Other amounts receivable | 41 | €11,566 | €2,220 | -€9,345 | -80.8% |
| Cash at bank and in hand | 54/58 | €5,169 | €6,715 | +€1,547 | +29.9% |
| Total equity and liabilities | 10/49 | €86,955 | €47,494 | -€39,461 | -45.4% |
| Equity | 10/15 | €35,701 | €12,876 | -€22,825 | -63.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €30,600 | €30,600 | = | 0.0% |
| Distributable reserves | 133 | €30,600 | €30,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €101 | -€22,724 | -€22,825 | |
| Amounts payable | 17/49 | €51,254 | €34,617 | -€16,636 | -32.5% |
| Amounts payable within one year | 42/48 | €51,254 | €34,617 | -€16,636 | -32.5% |
| Trade debts | 44 | - | €2,582 | +€2,582 | |
| Suppliers | 440/4 | - | €2,582 | +€2,582 | |
| Taxes, remuneration and social security | 45 | €3,902 | €86 | -€3,816 | -97.8% |
| Taxes | 450/3 | €3,902 | €86 | -€3,816 | -97.8% |
| Other amounts payable | 47/48 | €47,352 | €31,950 | -€15,402 | -32.5% |
| Remuneration, social security and pensions | 62 | €31,943 | €5,240 | -€26,703 | -83.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,563 | €20,797 | +€234 | +1.1% |
| Other operating charges | 640/8 | €678 | €694 | +€16 | +2.4% |
| Gross operating margin | 9900 | €73,201 | €4,223 | -€68,978 | -94.2% |
| Operating profit (loss) | 9901 | €20,018 | -€22,508 | -€42,526 | |
| Financial charges | 65/66B | €35 | €40 | +€5 | +15.7% |
| Recurring financial charges | 65 | €35 | €40 | +€5 | +15.7% |
| Profit (loss) for the period before taxes | 9903 | €19,983 | -€22,548 | -€42,531 | |
| Income taxes | 67/77 | €6,780 | €277 | -€6,503 | -95.9% |
| Profit (loss) for the period | 9904 | €13,203 | -€22,825 | -€36,028 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,203 | -€22,825 | -€36,028 |
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 26 October 2026 via checked.be.