VORM: what changed
Two fiscal 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.
VORM
Largest movements
- Receivables within one year -€43,350
down €43,350 (-40.2%), from €107,843 to €64,493
of which Other amounts receivable: -€45,201
- Tangible fixed assets -€14,213
down €14,213 (-10.2%), from €138,851 to €124,638
of which Land and buildings: -€8,295
- Cash +€10,135
up €10,135 (+230.7%), from €4,393 to €14,527
mainly Receivables within one year (+€43,350) and Net result for the year (+€19,323)
- Debts after one year -€63,969
down €63,969 (-59.9%), from €106,827 to €42,857
- Reserves +€19,323
up €19,323 (+16.4%), from €117,498 to €136,821
- Tax, wage and social debts -€3,445
down €3,445 (-25.7%), from €13,422 to €9,977
- Gross operating margin -€41,800
down €41,800 (-45.9%), from €91,040 to €49,240
- Taxes -€11,687
down €11,687 (-56.8%), from €20,573 to €8,886
- Staff costs +€1,804
new in 2025: €1,804
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 | €251,683 | €203,659 | -€48,024 | -19.1% |
| Fixed assets | 21/28 | €138,851 | €124,638 | -€14,213 | -10.2% |
| Tangible fixed assets | 22/27 | €138,851 | €124,638 | -€14,213 | -10.2% |
| Land and buildings | 22 | €124,253 | €115,958 | -€8,295 | -6.7% |
| Furniture and vehicles | 24 | €14,598 | €8,680 | -€5,917 | -40.5% |
| Current assets | 29/58 | €112,832 | €79,020 | -€33,811 | -30.0% |
| Amounts receivable within one year | 40/41 | €107,843 | €64,493 | -€43,350 | -40.2% |
| Trade receivables | 40 | €37,994 | €39,845 | +€1,851 | +4.9% |
| Other amounts receivable | 41 | €69,849 | €24,648 | -€45,201 | -64.7% |
| Cash at bank and in hand | 54/58 | €4,393 | €14,527 | +€10,135 | +230.7% |
| Deferred charges and accrued income | 490/1 | €596 | €0 | -€596 | -100.0% |
| Total equity and liabilities | 10/49 | €251,683 | €203,659 | -€48,024 | -19.1% |
| Equity | 10/15 | €119,998 | €139,321 | +€19,323 | +16.1% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €117,498 | €136,821 | +€19,323 | +16.4% |
| Distributable reserves | 133 | €117,498 | €136,821 | +€19,323 | +16.4% |
| Amounts payable | 17/49 | €131,684 | €64,338 | -€67,347 | -51.1% |
| Amounts payable after more than one year | 17 | €106,827 | €42,857 | -€63,969 | -59.9% |
| Financial debts | 170/4 | €106,827 | €42,857 | -€63,969 | -59.9% |
| Amounts payable within one year | 42/48 | €24,858 | €21,480 | -€3,377 | -13.6% |
| Current portion of amounts payable after more than one year | 42 | €8,834 | €8,969 | +€135 | +1.5% |
| Trade debts | 44 | €2,602 | €2,534 | -€68 | -2.6% |
| Suppliers | 440/4 | €2,602 | €2,534 | -€68 | -2.6% |
| Taxes, remuneration and social security | 45 | €13,422 | €9,977 | -€3,445 | -25.7% |
| Taxes | 450/3 | €13,422 | €9,977 | -€3,445 | -25.7% |
| Remuneration, social security and pensions | 62 | - | €1,804 | +€1,804 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,790 | €16,529 | -€261 | -1.6% |
| Other operating charges | 640/8 | €1,643 | €1,638 | -€5 | -0.3% |
| Gross operating margin | 9900 | €91,040 | €49,240 | -€41,800 | -45.9% |
| Operating profit (loss) | 9901 | €72,607 | €29,269 | -€43,338 | -59.7% |
| Financial charges | 65/66B | €1,218 | €1,061 | -€157 | -12.9% |
| Recurring financial charges | 65 | €1,218 | €1,061 | -€157 | -12.9% |
| Profit (loss) for the period before taxes | 9903 | €71,389 | €28,208 | -€43,181 | -60.5% |
| Income taxes | 67/77 | €20,573 | €8,886 | -€11,687 | -56.8% |
| Profit (loss) for the period | 9904 | €50,817 | €19,323 | -€31,494 | -62.0% |
| Profit (loss) for the period to be appropriated | 9905 | €50,817 | €19,323 | -€31,494 | -62.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.