VHPRO: 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.
VHPRO
Largest movements
- Tangible fixed assets +€245,851
up €245,851 (+123%), from €199,968 to €445,819
of which Land and buildings: +€252,991
- Cash -€35,224
down €35,224 (-56.5%), from €62,361 to €27,138
mainly Investment in fixed assets (net) (-€260,743) and Other debts (-€47,121)
- Receivables within one year -€16,322
down €16,322 (-96.9%), from €16,849 to €527
of which Trade receivables: -€16,461
- Debts after one year +€149,728
new in 2025: €149,728
- Current portion of long-term debt +€52,705
new in 2025: €52,705
- Other debts -€47,121
down €47,121 (-31.2%), from €150,959 to €103,838
- Profit (loss) carried forward +€38,730
up €38,730 (+33.3%), from €116,148 to €154,877
- Taxes -€33,681
down €33,681 (-92.3%), from €36,502 to €2,821
- Financial charges +€3,818
up €3,818 (+3,065%), from €125 to €3,943
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 | €279,179 | €473,483 | +€194,305 | +69.6% |
| Fixed assets | 21/28 | €199,968 | €445,819 | +€245,851 | +123% |
| Tangible fixed assets | 22/27 | €199,968 | €445,819 | +€245,851 | +123% |
| Land and buildings | 22 | €154,727 | €407,718 | +€252,991 | +164% |
| Plant, machinery and equipment | 23 | €41,845 | €37,449 | -€4,396 | -10.5% |
| Furniture and vehicles | 24 | €3,396 | €651 | -€2,745 | -80.8% |
| Current assets | 29/58 | €79,211 | €27,664 | -€51,546 | -65.1% |
| Amounts receivable within one year | 40/41 | €16,849 | €527 | -€16,322 | -96.9% |
| Trade receivables | 40 | €16,849 | €388 | -€16,461 | -97.7% |
| Other amounts receivable | 41 | - | €139 | +€139 | |
| Cash at bank and in hand | 54/58 | €62,361 | €27,138 | -€35,224 | -56.5% |
| Total equity and liabilities | 10/49 | €279,179 | €473,483 | +€194,305 | +69.6% |
| Equity | 10/15 | €116,248 | €154,977 | +€38,730 | +33.3% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Contributions outside capital | 11 | €100 | €100 | = | 0.0% |
| Share premium | 1100/10 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €116,148 | €154,877 | +€38,730 | +33.3% |
| Amounts payable | 17/49 | €162,931 | €318,506 | +€155,575 | +95.5% |
| Amounts payable after more than one year | 17 | - | €149,728 | +€149,728 | |
| Financial debts | 170/4 | - | €149,728 | +€149,728 | |
| Amounts payable within one year | 42/48 | €162,931 | €168,778 | +€5,847 | +3.6% |
| Current portion of amounts payable after more than one year | 42 | - | €52,705 | +€52,705 | |
| Taxes, remuneration and social security | 45 | €11,972 | €12,235 | +€263 | +2.2% |
| Taxes | 450/3 | €11,972 | €12,235 | +€263 | +2.2% |
| Other amounts payable | 47/48 | €150,959 | €103,838 | -€47,121 | -31.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,451 | €14,892 | +€441 | +3.1% |
| Other operating charges | 640/8 | €1,825 | €1,655 | -€170 | -9.3% |
| Non-recurring operating charges | 66A | - | €37,250 | +€37,250 | |
| Gross operating margin | 9900 | €99,038 | €99,291 | +€253 | +0.3% |
| Operating profit (loss) | 9901 | €82,763 | €45,493 | -€37,269 | -45.0% |
| Financial income | 75/76B | €0 | €0 | -€0 | -50.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -50.0% |
| Financial charges | 65/66B | €125 | €3,943 | +€3,818 | +3,065% |
| Recurring financial charges | 65 | €125 | €3,943 | +€3,818 | +3,065% |
| Profit (loss) for the period before taxes | 9903 | €82,638 | €41,551 | -€41,087 | -49.7% |
| Income taxes | 67/77 | €36,502 | €2,821 | -€33,681 | -92.3% |
| Profit (loss) for the period | 9904 | €46,136 | €38,730 | -€7,407 | -16.1% |
| Profit (loss) for the period to be appropriated | 9905 | €46,136 | €38,730 | -€7,407 | -16.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.