VHR Engineering: 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.
VHR Engineering
Largest movements
- Cash +€54,282
up €54,282 (+92.6%), from €58,611 to €112,894
mainly Net result for the year (+€47,504) and Tax, wage and social debts (+€9,196)
- Tangible fixed assets +€3,250
up €3,250 (+22.3%), from €14,563 to €17,813
of which Furniture and vehicles: +€2,799
- Receivables within one year -€2,693
down €2,693 (-13.2%), from €20,479 to €17,786
of which Other amounts receivable: -€1,911
- Reserves +€47,504
up €47,504 (+55.9%), from €85,009 to €132,513
- Tax, wage and social debts +€9,196
up €9,196 (+175%), from €5,241 to €14,437
of which Taxes: +€11,593
- Gross operating margin +€10,336
up €10,336 (+19.0%), from €54,525 to €64,861
- Depreciation +€1,362
up €1,362 (+115%), from €1,188 to €2,550
- Taxes +€1,228
up €1,228 (+10.3%), from €11,940 to €13,169
- Financial charges +€819
up €819 (+347%), from €236 to €1,056
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 | €95,439 | €150,665 | +€55,226 | +57.9% |
| Fixed assets | 21/28 | €14,813 | €17,813 | +€3,000 | +20.3% |
| Tangible fixed assets | 22/27 | €14,563 | €17,813 | +€3,250 | +22.3% |
| Land and buildings | 22 | €13,235 | €12,102 | -€1,133 | -8.6% |
| Plant, machinery and equipment | 23 | €676 | €2,260 | +€1,584 | +234% |
| Furniture and vehicles | 24 | €652 | €3,452 | +€2,799 | +429% |
| Financial fixed assets | 28 | €250 | €0 | -€250 | -100% |
| Current assets | 29/58 | €80,626 | €132,852 | +€52,226 | +64.8% |
| Amounts receivable within one year | 40/41 | €20,479 | €17,786 | -€2,693 | -13.2% |
| Trade receivables | 40 | €18,497 | €17,715 | -€782 | -4.2% |
| Other amounts receivable | 41 | €1,983 | €71 | -€1,911 | -96.4% |
| Cash at bank and in hand | 54/58 | €58,611 | €112,894 | +€54,282 | +92.6% |
| Deferred charges and accrued income | 490/1 | €1,535 | €2,172 | +€637 | +41.5% |
| Total equity and liabilities | 10/49 | €95,439 | €150,665 | +€55,226 | +57.9% |
| Equity | 10/15 | €87,509 | €135,013 | +€47,504 | +54.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €85,009 | €132,513 | +€47,504 | +55.9% |
| Distributable reserves | 133 | €85,009 | €132,513 | +€47,504 | +55.9% |
| Amounts payable | 17/49 | €7,930 | €15,652 | +€7,722 | +97.4% |
| Amounts payable within one year | 42/48 | €7,790 | €15,652 | +€7,862 | +101% |
| Financial debts | 43 | €10 | €15 | +€5 | +51.4% |
| Credit institutions | 430/8 | €10 | €15 | +€5 | +51.4% |
| Trade debts | 44 | €1,764 | €351 | -€1,413 | -80.1% |
| Suppliers | 440/4 | €1,764 | €351 | -€1,413 | -80.1% |
| Taxes, remuneration and social security | 45 | €5,241 | €14,437 | +€9,196 | +175% |
| Taxes | 450/3 | €2,844 | €14,437 | +€11,593 | +408% |
| Remuneration and social security | 454/9 | €2,397 | €0 | -€2,397 | -100% |
| Other amounts payable | 47/48 | €775 | €849 | +€74 | +9.6% |
| Accrued charges and deferred income | 492/3 | €140 | €0 | -€140 | -100% |
| Non-recurring operating income | 76A | - | €5,343 | +€5,343 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,188 | €2,550 | +€1,362 | +115% |
| Other operating charges | 640/8 | €245 | €583 | +€338 | +138% |
| Gross operating margin | 9900 | €54,525 | €64,861 | +€10,336 | +19.0% |
| Operating profit (loss) | 9901 | €53,092 | €61,728 | +€8,636 | +16.3% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €236 | €1,056 | +€819 | +347% |
| Recurring financial charges | 65 | €236 | €1,056 | +€819 | +347% |
| Profit (loss) for the period before taxes | 9903 | €52,856 | €60,673 | +€7,817 | +14.8% |
| Income taxes | 67/77 | €11,940 | €13,169 | +€1,228 | +10.3% |
| Profit (loss) for the period | 9904 | €40,915 | €47,504 | +€6,589 | +16.1% |
| Profit (loss) for the period to be appropriated | 9905 | €40,915 | €47,504 | +€6,589 | +16.1% |
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 14 October 2026 via checked.be.