VP ASSET MANAGEMENT: 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 ASSET MANAGEMENT
Largest movements
- Cash -€18,373
down €18,373 (-56.9%), from €32,317 to €13,944
mainly Other debts (-€73,000) and Tax, wage and social debts (-€269)
- Receivables within one year -€9,579
down €9,579 (-12.3%), from €77,859 to €68,280
of which Trade receivables: -€37,063
- Other debts -€73,000
down €73,000 (-97.3%), from €75,000 to €2,000
- Trade debts +€39,774
up €39,774 (+4,635%), from €858 to €40,632
- Reserves +€5,543
up €5,543 (+242%), from €2,289 to €7,832
- Gross operating margin -€101,228
down €101,228 (-93.6%), from €108,149 to €6,921
- Taxes -€23,918
down €23,918 (-92.8%), from €25,766 to €1,848
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 | €110,176 | €82,224 | -€27,952 | -25.4% |
| Current assets | 29/58 | €110,176 | €82,224 | -€27,952 | -25.4% |
| Amounts receivable within one year | 40/41 | €77,859 | €68,280 | -€9,579 | -12.3% |
| Trade receivables | 40 | €64,977 | €27,914 | -€37,063 | -57.0% |
| Other amounts receivable | 41 | €12,882 | €40,366 | +€27,484 | +213% |
| Cash at bank and in hand | 54/58 | €32,317 | €13,944 | -€18,373 | -56.9% |
| Total equity and liabilities | 10/49 | €110,176 | €82,224 | -€27,952 | -25.4% |
| Equity | 10/15 | €6,289 | €11,832 | +€5,543 | +88.1% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €2,289 | €7,832 | +€5,543 | +242% |
| Distributable reserves | 133 | €2,289 | €7,832 | +€5,543 | +242% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €103,888 | €70,393 | -€33,495 | -32.2% |
| Amounts payable within one year | 42/48 | €103,888 | €70,393 | -€33,495 | -32.2% |
| Trade debts | 44 | €858 | €40,632 | +€39,774 | +4,635% |
| Suppliers | 440/4 | €858 | €40,632 | +€39,774 | +4,635% |
| Taxes, remuneration and social security | 45 | €28,030 | €27,760 | -€269 | -1.0% |
| Taxes | 450/3 | €28,030 | €27,760 | -€269 | -1.0% |
| Other amounts payable | 47/48 | €75,000 | €2,000 | -€73,000 | -97.3% |
| Other operating charges | 640/8 | €241 | €0 | -€241 | -100% |
| Gross operating margin | 9900 | €108,149 | €6,921 | -€101,228 | -93.6% |
| Operating profit (loss) | 9901 | €107,908 | €6,921 | -€100,987 | -93.6% |
| Financial income | 75/76B | - | €522 | +€522 | |
| Recurring financial income | 75 | - | €522 | +€522 | |
| Financial charges | 65/66B | €29 | €53 | +€24 | +82.9% |
| Recurring financial charges | 65 | €29 | €53 | +€24 | +82.9% |
| Profit (loss) for the period before taxes | 9903 | €107,879 | €7,391 | -€100,488 | -93.1% |
| Income taxes | 67/77 | €25,766 | €1,848 | -€23,918 | -92.8% |
| Profit (loss) for the period | 9904 | €82,113 | €5,543 | -€76,570 | -93.2% |
| Profit (loss) for the period to be appropriated | 9905 | €82,113 | €5,543 | -€76,570 | -93.2% |
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 29 October 2026 via checked.be.