VP Finance: 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 Finance
Largest movements
- Tangible fixed assets +€208,953
up €208,953 (+2,994%), from €6,980 to €215,932
of which Land and buildings: +€210,813
- Cash +€121,762
up €121,762 (+76.4%), from €159,302 to €281,064
mainly Debts after one year (+€168,683) and Net result for the year (+€126,130)
- Intangible fixed assets -€23,000
down €23,000 (-11.3%), from €203,093 to €180,093
- Debts after one year +€168,683
up €168,683 (+92.4%), from €182,615 to €351,297
- Reserves +€126,130
up €126,130 (+64.7%), from €194,994 to €321,124
- Current portion of long-term debt +€11,840
up €11,840 (+57.1%), from €20,735 to €32,574
- Tax, wage and social debts +€8,524
up €8,524 (+969%), from €880 to €9,404
of which Remuneration and social security: +€6,301
- Gross operating margin +€40,195
up €40,195 (+14.9%), from €269,144 to €309,340
- Staff costs +€37,002
up €37,002 (+107%), from €34,561 to €71,563
- Other operating charges +€32,189
up €32,189 (+2,769%), from €1,162 to €33,351
- Taxes -€8,218
down €8,218 (-17.3%), from €47,388 to €39,170
- Depreciation +€6,021
up €6,021 (+23.9%), from €25,230 to €31,251
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 | €408,409 | €723,323 | +€314,914 | +77.1% |
| Fixed assets | 21/28 | €210,148 | €396,101 | +€185,953 | +88.5% |
| Intangible fixed assets | 21 | €203,093 | €180,093 | -€23,000 | -11.3% |
| Tangible fixed assets | 22/27 | €6,980 | €215,932 | +€208,953 | +2,994% |
| Land and buildings | 22 | - | €210,813 | +€210,813 | |
| Plant, machinery and equipment | 23 | €1,015 | €666 | -€349 | -34.4% |
| Furniture and vehicles | 24 | €5,964 | €4,453 | -€1,511 | -25.3% |
| Financial fixed assets | 28 | €75 | €75 | = | 0.0% |
| Current assets | 29/58 | €198,261 | €327,223 | +€128,961 | +65.0% |
| Amounts receivable within one year | 40/41 | €2,913 | €7,000 | +€4,087 | +140% |
| Other amounts receivable | 41 | €2,913 | €7,000 | +€4,087 | +140% |
| Cash at bank and in hand | 54/58 | €159,302 | €281,064 | +€121,762 | +76.4% |
| Deferred charges and accrued income | 490/1 | €36,046 | €39,159 | +€3,113 | +8.6% |
| Total equity and liabilities | 10/49 | €408,409 | €723,323 | +€314,914 | +77.1% |
| Equity | 10/15 | €196,994 | €323,124 | +€126,130 | +64.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €194,994 | €321,124 | +€126,130 | +64.7% |
| Distributable reserves | 133 | €194,994 | €321,124 | +€126,130 | +64.7% |
| Amounts payable | 17/49 | €211,415 | €400,200 | +€188,784 | +89.3% |
| Amounts payable after more than one year | 17 | €182,615 | €351,297 | +€168,683 | +92.4% |
| Financial debts | 170/4 | €182,615 | €351,297 | +€168,683 | +92.4% |
| Amounts payable within one year | 42/48 | €28,800 | €48,902 | +€20,102 | +69.8% |
| Current portion of amounts payable after more than one year | 42 | €20,735 | €32,574 | +€11,840 | +57.1% |
| Trade debts | 44 | €98 | €1,631 | +€1,534 | +1,568% |
| Suppliers | 440/4 | €98 | €1,631 | +€1,534 | +1,568% |
| Taxes, remuneration and social security | 45 | €880 | €9,404 | +€8,524 | +969% |
| Taxes | 450/3 | - | €2,224 | +€2,224 | |
| Remuneration and social security | 454/9 | €880 | €7,181 | +€6,301 | +716% |
| Other amounts payable | 47/48 | €7,088 | €5,292 | -€1,796 | -25.3% |
| Remuneration, social security and pensions | 62 | €34,561 | €71,563 | +€37,002 | +107% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,230 | €31,251 | +€6,021 | +23.9% |
| Other operating charges | 640/8 | €1,162 | €33,351 | +€32,189 | +2,769% |
| Gross operating margin | 9900 | €269,144 | €309,340 | +€40,195 | +14.9% |
| Operating profit (loss) | 9901 | €208,191 | €173,175 | -€35,016 | -16.8% |
| Financial income | 75/76B | €1,005 | €3,155 | +€2,150 | +214% |
| Recurring financial income | 75 | €1,005 | €3,155 | +€2,150 | +214% |
| Financial charges | 65/66B | €7,570 | €11,029 | +€3,459 | +45.7% |
| Recurring financial charges | 65 | €7,570 | €11,029 | +€3,459 | +45.7% |
| Profit (loss) for the period before taxes | 9903 | €201,625 | €165,300 | -€36,325 | -18.0% |
| Income taxes | 67/77 | €47,388 | €39,170 | -€8,218 | -17.3% |
| Profit (loss) for the period | 9904 | €154,237 | €126,130 | -€28,107 | -18.2% |
| Profit (loss) for the period to be appropriated | 9905 | €154,237 | €126,130 | -€28,107 | -18.2% |
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 28 October 2026 via checked.be.