VP 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 Management
Largest movements
- Stocks and contracts +€14,229
new in 2025: €14,229
- Receivables within one year +€12,215
up €12,215 (+68.6%), from €17,817 to €30,031
of which Trade receivables: +€11,715
- Cash -€5,765
down €5,765 (-22.2%), from €26,016 to €20,251
mainly Stocks and contracts (-€14,229) and Receivables within one year (-€12,215)
- Trade debts +€24,867
up €24,867 (+11066.7%), from €225 to €25,092
- Tax, wage and social debts -€5,914
down €5,914 (-24.1%), from €24,525 to €18,611
of which Taxes: -€3,914
- Profit (loss) carried forward +€2,240
up €2,240 (+13.8%), from €16,174 to €18,414
- Gross operating margin -€16,850
down €16,850 (-78.8%), from €21,379 to €4,529
- Taxes -€3,278
down €3,278 (-76.3%), from €4,296 to €1,017
- Financial charges +€319
up €319 (+638.9%), from €50 to €369
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 | €43,833 | €65,442 | +€21,609 | +49.3% |
| Fixed assets | 21/28 | - | €931 | +€931 | |
| Tangible fixed assets | 22/27 | - | €431 | +€431 | |
| Furniture and vehicles | 24 | - | €431 | +€431 | |
| Financial fixed assets | 28 | - | €500 | +€500 | |
| Current assets | 29/58 | €43,833 | €64,511 | +€20,678 | +47.2% |
| Stocks and contracts in progress | 3 | - | €14,229 | +€14,229 | |
| Stocks | 30/36 | - | €14,229 | +€14,229 | |
| Amounts receivable within one year | 40/41 | €17,817 | €30,031 | +€12,215 | +68.6% |
| Trade receivables | 40 | €17,817 | €29,531 | +€11,715 | +65.7% |
| Other amounts receivable | 41 | - | €500 | +€500 | |
| Cash at bank and in hand | 54/58 | €26,016 | €20,251 | -€5,765 | -22.2% |
| Total equity and liabilities | 10/49 | €43,833 | €65,442 | +€21,609 | +49.3% |
| Equity | 10/15 | €18,174 | €20,414 | +€2,240 | +12.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,174 | €18,414 | +€2,240 | +13.8% |
| Amounts payable | 17/49 | €25,659 | €45,028 | +€19,370 | +75.5% |
| Amounts payable within one year | 42/48 | €25,659 | €45,028 | +€19,370 | +75.5% |
| Trade debts | 44 | €225 | €25,092 | +€24,867 | +11066.7% |
| Suppliers | 440/4 | €225 | €25,092 | +€24,867 | +11066.7% |
| Taxes, remuneration and social security | 45 | €24,525 | €18,611 | -€5,914 | -24.1% |
| Taxes | 450/3 | €21,025 | €17,111 | -€3,914 | -18.6% |
| Remuneration and social security | 454/9 | €3,500 | €1,500 | -€2,000 | -57.1% |
| Other amounts payable | 47/48 | €909 | €1,326 | +€417 | +45.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €69 | +€69 | |
| Gross operating margin | 9900 | €21,379 | €4,529 | -€16,850 | -78.8% |
| Operating profit (loss) | 9901 | €21,379 | €4,460 | -€16,919 | -79.1% |
| Financial charges | 65/66B | €50 | €369 | +€319 | +638.9% |
| Recurring financial charges | 65 | €50 | €369 | +€319 | +638.9% |
| Profit (loss) for the period before taxes | 9903 | €21,329 | €4,090 | -€17,238 | -80.8% |
| Income taxes | 67/77 | €4,296 | €1,017 | -€3,278 | -76.3% |
| Profit (loss) for the period | 9904 | €17,033 | €3,073 | -€13,960 | -82.0% |
| Profit (loss) for the period to be appropriated | 9905 | €17,033 | €3,073 | -€13,960 | -82.0% |
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 11 October 2026 via checked.be.