VP 68: 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.
VP 68
Largest movements
- Cash +€316,747
up €316,747 (+395.7%), from €80,054 to €396,801
mainly Other debts (+€418,871) and Net result for the year (+€263,682)
- Receivables within one year -€194,854
down €194,854 (-98.6%), from €197,524 to €2,670
of which Other amounts receivable: -€163,116
- Current investments +€178,941
up €178,941 (+9.1%), from €2.0m to €2.1m
- Tangible fixed assets -€154,703
down €154,703 (-80.0%), from €193,409 to €38,707
of which Land and buildings: -€138,697
- Other debts +€418,871
up €418,871 (+352.4%), from €118,854 to €537,725
- Reserves -€239,552
down €239,552 (-10.7%), from €2.2m to €2.0m
of which Distributable reserves: -€239,552
- Tax, wage and social debts -€32,100
down €32,100 (-35.5%), from €90,300 to €58,200
- Gross operating margin -€244,197
down €244,197 (-46.5%), from €525,368 to €281,171
- Taxes -€92,630
down €92,630 (-50.9%), from €181,825 to €89,195
- Financial income -€17,697
down €17,697 (-17.0%), from €104,344 to €86,647
of which Financial income: -€17,697
- Financial charges -€5,392
down €5,392 (-77.5%), from €6,953 to €1,562
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 | €2,443,179 | €2,590,375 | +€147,196 | +6.0% |
| Fixed assets | 21/28 | €193,409 | €38,707 | -€154,703 | -80.0% |
| Tangible fixed assets | 22/27 | €193,409 | €38,707 | -€154,703 | -80.0% |
| Land and buildings | 22 | €138,697 | €0 | -€138,697 | -100.0% |
| Plant, machinery and equipment | 23 | €2,810 | €0 | -€2,810 | -100.0% |
| Furniture and vehicles | 24 | €45,241 | €33,146 | -€12,095 | -26.7% |
| Other tangible fixed assets | 26 | €6,661 | €5,561 | -€1,101 | -16.5% |
| Current assets | 29/58 | €2,249,770 | €2,551,668 | +€301,899 | +13.4% |
| Amounts receivable within one year | 40/41 | €197,524 | €2,670 | -€194,854 | -98.6% |
| Trade receivables | 40 | €34,408 | €2,670 | -€31,738 | -92.2% |
| Other amounts receivable | 41 | €163,116 | €0 | -€163,116 | -100.0% |
| Current investments | 50/53 | €1,969,513 | €2,148,454 | +€178,941 | +9.1% |
| Cash at bank and in hand | 54/58 | €80,054 | €396,801 | +€316,747 | +395.7% |
| Deferred charges and accrued income | 490/1 | €2,679 | €3,744 | +€1,065 | +39.8% |
| Total equity and liabilities | 10/49 | €2,443,179 | €2,590,375 | +€147,196 | +6.0% |
| Equity | 10/15 | €2,233,700 | €1,994,147 | -€239,552 | -10.7% |
| Contributions | 10/11 | €0 | - | = | |
| Reserves | 13 | €2,233,700 | €1,994,147 | -€239,552 | -10.7% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €2,233,700 | €1,994,147 | -€239,552 | -10.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €209,479 | €596,228 | +€386,749 | +184.6% |
| Amounts payable within one year | 42/48 | €209,210 | €595,985 | +€386,775 | +184.9% |
| Trade debts | 44 | €56 | €60 | +€5 | +8.6% |
| Suppliers | 440/4 | €56 | €60 | +€5 | +8.6% |
| Taxes, remuneration and social security | 45 | €90,300 | €58,200 | -€32,100 | -35.5% |
| Taxes | 450/3 | €90,300 | €58,200 | -€32,100 | -35.5% |
| Other amounts payable | 47/48 | €118,854 | €537,725 | +€418,871 | +352.4% |
| Accrued charges and deferred income | 492/3 | €269 | €243 | -€27 | -9.9% |
| Non-recurring operating income | 76A | €0 | €116,793 | +€116,793 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,927 | €13,195 | -€4,731 | -26.4% |
| Other operating charges | 640/8 | €118 | €183 | +€65 | +55.4% |
| Gross operating margin | 9900 | €525,368 | €281,171 | -€244,197 | -46.5% |
| Operating profit (loss) | 9901 | €507,323 | €267,792 | -€239,531 | -47.2% |
| Financial income | 75/76B | €104,344 | €86,647 | -€17,697 | -17.0% |
| Recurring financial income | 75 | €104,344 | €86,647 | -€17,697 | -17.0% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €6,953 | €1,562 | -€5,392 | -77.5% |
| Recurring financial charges | 65 | €6,953 | €1,562 | -€5,392 | -77.5% |
| Profit (loss) for the period before taxes | 9903 | €604,714 | €352,877 | -€251,837 | -41.6% |
| Income taxes | 67/77 | €181,825 | €89,195 | -€92,630 | -50.9% |
| Profit (loss) for the period | 9904 | €422,889 | €263,682 | -€159,207 | -37.6% |
| Profit (loss) for the period to be appropriated | 9905 | €422,889 | €263,682 | -€159,207 | -37.6% |
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 10 October 2026 via checked.be.