VHP OFFICE: 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.
VHP OFFICE
Largest movements
- Receivables within one year +€163,824
up €163,824 (+32.3%), from €507,552 to €671,376
of which Other amounts receivable: +€89,708
- Tangible fixed assets +€54,610
up €54,610 (+11.5%), from €473,751 to €528,362
of which Land and buildings: +€54,428
- Cash +€49,594
up €49,594 (+59.5%), from €83,343 to €132,937
mainly Net result for the year (+€222,850) and Other debts (+€83,132)
- Reserves +€222,850
up €222,850 (+57.0%), from €390,917 to €613,767
of which Distributable reserves: +€222,850
- Other debts +€83,132
up €83,132 (+173.7%), from €47,866 to €130,998
- Current portion of long-term debt +€73,653
up €73,653 (+110.4%), from €66,692 to €140,345
- Debts after one year -€56,809
down €56,809 (-14.3%), from €398,580 to €341,771
- Tax, wage and social debts -€25,760
down €25,760 (-53.4%), from €48,196 to €22,435
of which Taxes: -€25,779
- Gross operating margin +€163,493
up €163,493 (+67.1%), from €243,690 to €407,183
- Taxes +€49,004
up €49,004 (+96.0%), from €51,026 to €100,030
- Depreciation +€6,417
up €6,417 (+11.1%), from €57,698 to €64,115
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 | €1,069,617 | €1,339,067 | +€269,450 | +25.2% |
| Fixed assets | 21/28 | €473,751 | €528,362 | +€54,610 | +11.5% |
| Tangible fixed assets | 22/27 | €473,751 | €528,362 | +€54,610 | +11.5% |
| Land and buildings | 22 | €449,910 | €504,338 | +€54,428 | +12.1% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €1,446 | €3,210 | +€1,764 | +122.0% |
| Other tangible fixed assets | 26 | €22,395 | €20,813 | -€1,582 | -7.1% |
| Current assets | 29/58 | €595,865 | €810,705 | +€214,840 | +36.1% |
| Amounts receivable within one year | 40/41 | €507,552 | €671,376 | +€163,824 | +32.3% |
| Trade receivables | 40 | €274,042 | €348,158 | +€74,116 | +27.0% |
| Other amounts receivable | 41 | €233,510 | €323,218 | +€89,708 | +38.4% |
| Cash at bank and in hand | 54/58 | €83,343 | €132,937 | +€49,594 | +59.5% |
| Deferred charges and accrued income | 490/1 | €4,971 | €6,393 | +€1,422 | +28.6% |
| Total equity and liabilities | 10/49 | €1,069,617 | €1,339,067 | +€269,450 | +25.2% |
| Equity | 10/15 | €460,917 | €683,767 | +€222,850 | +48.3% |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Reserves | 13 | €390,917 | €613,767 | +€222,850 | +57.0% |
| Non-distributable reserves | 130/1 | €6,900 | €6,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,900 | €6,900 | = | 0.0% |
| Distributable reserves | 133 | €384,017 | €606,867 | +€222,850 | +58.0% |
| Amounts payable | 17/49 | €608,700 | €655,300 | +€46,600 | +7.7% |
| Amounts payable after more than one year | 17 | €398,580 | €341,771 | -€56,809 | -14.3% |
| Financial debts | 170/4 | €398,580 | €341,771 | -€56,809 | -14.3% |
| Amounts payable within one year | 42/48 | €210,120 | €313,529 | +€103,409 | +49.2% |
| Current portion of amounts payable after more than one year | 42 | €66,692 | €140,345 | +€73,653 | +110.4% |
| Financial debts | 43 | €3,871 | €0 | -€3,871 | -100.0% |
| Credit institutions | 430/8 | €3,871 | €0 | -€3,871 | -100.0% |
| Trade debts | 44 | €43,496 | €19,750 | -€23,746 | -54.6% |
| Suppliers | 440/4 | €43,496 | €19,750 | -€23,746 | -54.6% |
| Taxes, remuneration and social security | 45 | €48,196 | €22,435 | -€25,760 | -53.4% |
| Taxes | 450/3 | €46,685 | €20,906 | -€25,779 | -55.2% |
| Remuneration and social security | 454/9 | €1,511 | €1,529 | +€18 | +1.2% |
| Other amounts payable | 47/48 | €47,866 | €130,998 | +€83,132 | +173.7% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,698 | €64,115 | +€6,417 | +11.1% |
| Other operating charges | 640/8 | €6,615 | €7,726 | +€1,111 | +16.8% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €243,690 | €407,183 | +€163,493 | +67.1% |
| Operating profit (loss) | 9901 | €179,377 | €335,342 | +€155,965 | +86.9% |
| Financial income | 75/76B | €1 | €2 | +€2 | +163.0% |
| Recurring financial income | 75 | €1 | €2 | +€2 | +163.0% |
| Financial charges | 65/66B | €14,515 | €12,465 | -€2,050 | -14.1% |
| Recurring financial charges | 65 | €14,515 | €12,465 | -€2,050 | -14.1% |
| Profit (loss) for the period before taxes | 9903 | €164,863 | €322,880 | +€158,017 | +95.8% |
| Income taxes | 67/77 | €51,026 | €100,030 | +€49,004 | +96.0% |
| Profit (loss) for the period | 9904 | €113,836 | €222,850 | +€109,014 | +95.8% |
| Profit (loss) for the period to be appropriated | 9905 | €113,836 | €222,850 | +€109,014 | +95.8% |
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 11 October 2026 via checked.be.