VHQ: what changed
VHQ
Largest movements
- Cash -€25,948
down €25,948 (-68.1%), from €38,098 to €12,149
mainly Net result for the year (-€18,158) and Other debts (-€8,806)
- Tangible fixed assets -€3,281
down €3,281 (-38.7%), from €8,470 to €5,189
of which Plant, machinery and equipment: -€4,058
- Receivables within one year +€1,910
up €1,910 (+2,122%), from €90 to €2,000
of which Other amounts receivable: +€2,000
- Profit (loss) carried forward -€18,158
down €18,158 (-70.8%), from €25,658 to €7,500
- Other debts -€8,806
down €8,806 (-41.9%), from €21,000 to €12,194
- Taxes +€7,352
new in 2025: €7,352
- Gross operating margin -€6,558
down €6,558 (-3,193%), from -€205 to -€6,764
- Depreciation -€420
down €420 (-11.3%), from €3,700 to €3,281
- Financial income +€223
up €223 (+169%), from €132 to €356
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €51,657 | €24,694 | -€26,964 | -52.2% |
| Fixed assets | 21/28 | €8,470 | €5,189 | -€3,281 | -38.7% |
| Tangible fixed assets | 22/27 | €8,470 | €5,189 | -€3,281 | -38.7% |
| Plant, machinery and equipment | 23 | €8,470 | €4,411 | -€4,058 | -47.9% |
| Furniture and vehicles | 24 | - | €778 | +€778 | |
| Current assets | 29/58 | €43,188 | €19,505 | -€23,683 | -54.8% |
| Amounts receivable within one year | 40/41 | €90 | €2,000 | +€1,910 | +2,122% |
| Trade receivables | 40 | €90 | - | -€90 | |
| Other amounts receivable | 41 | - | €2,000 | +€2,000 | |
| Current investments | 50/53 | €5,000 | €5,356 | +€356 | +7.1% |
| Cash at bank and in hand | 54/58 | €38,098 | €12,149 | -€25,948 | -68.1% |
| Total equity and liabilities | 10/49 | €51,657 | €24,694 | -€26,964 | -52.2% |
| Equity | 10/15 | €30,658 | €12,500 | -€18,158 | -59.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Contributions outside capital | 11 | €5,000 | €5,000 | = | 0.0% |
| Other | 1109/19 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €25,658 | €7,500 | -€18,158 | -70.8% |
| Amounts payable | 17/49 | €21,000 | €12,194 | -€8,806 | -41.9% |
| Amounts payable within one year | 42/48 | €21,000 | €12,194 | -€8,806 | -41.9% |
| Other amounts payable | 47/48 | €21,000 | €12,194 | -€8,806 | -41.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,700 | €3,281 | -€420 | -11.3% |
| Other operating charges | 640/8 | €852 | €904 | +€52 | +6.1% |
| Gross operating margin | 9900 | -€205 | -€6,764 | -€6,558 | -3,193% |
| Operating profit (loss) | 9901 | -€4,758 | -€10,948 | -€6,190 | -130% |
| Financial income | 75/76B | €132 | €356 | +€223 | +169% |
| Recurring financial income | 75 | €132 | €356 | +€223 | +169% |
| Financial charges | 65/66B | €238 | €213 | -€25 | -10.3% |
| Recurring financial charges | 65 | €238 | €213 | -€25 | -10.3% |
| Profit (loss) for the period before taxes | 9903 | -€4,863 | -€10,806 | -€5,942 | -122% |
| Income taxes | 67/77 | - | €7,352 | +€7,352 | |
| Profit (loss) for the period | 9904 | -€4,863 | -€18,158 | -€13,294 | -273% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,863 | -€18,158 | -€13,294 | -273% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.