VP EXPRESS SERVICE: 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 EXPRESS SERVICE
Largest movements
- Tangible fixed assets +€93,107
up €93,107 (+45.0%), from €207,021 to €300,128
of which Leasing and similar rights: +€82,280
- Deferred charges and accrued income +€25,305
up €25,305 (+41.6%), from €60,792 to €86,097
- Receivables after one year +€12,210
up €12,210 (+15.8%), from €77,413 to €89,623
- Debts after one year +€125,493
up €125,493 (+48.4%), from €259,059 to €384,552
- Tax, wage and social debts +€65,088
up €65,088 (+83.2%), from €78,256 to €143,344
of which Remuneration and social security: +€64,320
- Trade debts -€35,044
down €35,044 (-14.9%), from €235,754 to €200,710
- Other debts -€33,750
down €33,750 (-86.6%), from €38,950 to €5,200
- Gross operating margin +€104,434
up €104,434 (+12.1%), from €861,426 to €965,859
- Staff costs +€66,174
up €66,174 (+9.0%), from €738,180 to €804,353
- Depreciation +€29,642
up €29,642 (+76.8%), from €38,583 to €68,225
- Financial charges +€10,396
up €10,396 (+16.0%), from €65,170 to €75,565
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 | €889,513 | €1,020,920 | +€131,408 | +14.8% |
| Fixed assets | 21/28 | €228,178 | €321,285 | +€93,107 | +40.8% |
| Tangible fixed assets | 22/27 | €207,021 | €300,128 | +€93,107 | +45.0% |
| Plant, machinery and equipment | 23 | €3,027 | €1,987 | -€1,039 | -34.3% |
| Furniture and vehicles | 24 | €26,295 | €38,161 | +€11,866 | +45.1% |
| Leasing and similar rights | 25 | €177,700 | €259,980 | +€82,280 | +46.3% |
| Financial fixed assets | 28 | €21,157 | €21,157 | = | 0.0% |
| Current assets | 29/58 | €661,334 | €699,635 | +€38,301 | +5.8% |
| Amounts receivable after more than one year | 29 | €77,413 | €89,623 | +€12,210 | +15.8% |
| Trade receivables | 290 | €77,413 | €89,623 | +€12,210 | +15.8% |
| Amounts receivable within one year | 40/41 | €481,453 | €481,394 | -€59 | 0.0% |
| Trade receivables | 40 | €334,312 | €356,367 | +€22,055 | +6.6% |
| Other amounts receivable | 41 | €147,142 | €125,027 | -€22,114 | -15.0% |
| Cash at bank and in hand | 54/58 | €41,676 | €42,520 | +€845 | +2.0% |
| Deferred charges and accrued income | 490/1 | €60,792 | €86,097 | +€25,305 | +41.6% |
| Total equity and liabilities | 10/49 | €889,513 | €1,020,920 | +€131,408 | +14.8% |
| Equity | 10/15 | €221,066 | €224,999 | +€3,933 | +1.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €159,066 | €162,999 | +€3,933 | +2.5% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €34,750 | €34,750 | = | 0.0% |
| Distributable reserves | 133 | €118,116 | €122,049 | +€3,933 | +3.3% |
| Amounts payable | 17/49 | €668,446 | €795,921 | +€127,475 | +19.1% |
| Amounts payable after more than one year | 17 | €259,059 | €384,552 | +€125,493 | +48.4% |
| Financial debts | 170/4 | €259,059 | €384,552 | +€125,493 | +48.4% |
| Amounts payable within one year | 42/48 | €408,676 | €410,784 | +€2,108 | +0.5% |
| Current portion of amounts payable after more than one year | 42 | €55,716 | €61,530 | +€5,815 | +10.4% |
| Trade debts | 44 | €235,754 | €200,710 | -€35,044 | -14.9% |
| Suppliers | 440/4 | €235,754 | €200,710 | -€35,044 | -14.9% |
| Taxes, remuneration and social security | 45 | €78,256 | €143,344 | +€65,088 | +83.2% |
| Taxes | 450/3 | €33,535 | €34,303 | +€767 | +2.3% |
| Remuneration and social security | 454/9 | €44,721 | €109,041 | +€64,320 | +144% |
| Other amounts payable | 47/48 | €38,950 | €5,200 | -€33,750 | -86.6% |
| Accrued charges and deferred income | 492/3 | €711 | €585 | -€126 | -17.7% |
| Non-recurring operating income | 76A | €40,748 | €42,829 | +€2,081 | +5.1% |
| Remuneration, social security and pensions | 62 | €738,180 | €804,353 | +€66,174 | +9.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,583 | €68,225 | +€29,642 | +76.8% |
| Other operating charges | 640/8 | €21,219 | €12,112 | -€9,107 | -42.9% |
| Gross operating margin | 9900 | €861,426 | €965,859 | +€104,434 | +12.1% |
| Operating profit (loss) | 9901 | €63,445 | €81,169 | +€17,724 | +27.9% |
| Financial income | 75/76B | €109 | €222 | +€112 | +103% |
| Recurring financial income | 75 | €109 | €222 | +€112 | +103% |
| Financial charges | 65/66B | €65,170 | €75,565 | +€10,396 | +16.0% |
| Recurring financial charges | 65 | €65,170 | €75,565 | +€10,396 | +16.0% |
| Profit (loss) for the period before taxes | 9903 | -€1,616 | €5,825 | +€7,441 | |
| Income taxes | 67/77 | - | €1,893 | +€1,893 | |
| Profit (loss) for the period | 9904 | -€1,616 | €3,933 | +€5,549 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,616 | €3,933 | +€5,549 |
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.