VP MED: 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 MED
Largest movements
- Current investments +€16,000
new in 2025: €16,000
- Cash +€9,002
up €9,002 (+11.9%), from €75,526 to €84,528
mainly Net result for the year (+€28,217) and Tax, wage and social debts (+€7,374)
- Receivables within one year +€8,735
up €8,735 (+56.5%), from €15,454 to €24,189
of which Other amounts receivable: +€5,942
- Reserves +€28,217
up €28,217 (+30.6%), from €92,141 to €120,358
- Tax, wage and social debts +€7,374
new in 2025: €7,374
of which Remuneration and social security: +€6,672
- Other debts +€1,796
up €1,796 (+524%), from €343 to €2,139
- Trade debts -€1,470
down €1,470 (-16.2%), from €9,057 to €7,588
- Gross operating margin +€87,272
up €87,272 (+230%), from €37,894 to €125,166
- Staff costs +€58,255
up €58,255 (+8,081%), from €721 to €58,976
- Other operating charges +€8,674
up €8,674 (+79.8%), from €10,867 to €19,541
- Financial charges +€4,123
up €4,123 (+329%), from €1,254 to €5,377
of which Financial charges: +€3,719
- Taxes +€1,524
up €1,524 (+15.6%), from €9,798 to €11,322
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 | €103,541 | €139,458 | +€35,917 | +34.7% |
| Fixed assets | 21/28 | €5,709 | €5,958 | +€248 | +4.3% |
| Intangible fixed assets | 21 | €100 | - | -€100 | |
| Tangible fixed assets | 22/27 | €5,370 | €5,718 | +€348 | +6.5% |
| Plant, machinery and equipment | 23 | €372 | €1,720 | +€1,348 | +362% |
| Furniture and vehicles | 24 | €4,997 | €3,997 | -€1,000 | -20.0% |
| Financial fixed assets | 28 | €240 | €240 | = | 0.0% |
| Current assets | 29/58 | €97,831 | €133,500 | +€35,669 | +36.5% |
| Stocks and contracts in progress | 3 | €5,097 | €6,251 | +€1,154 | +22.6% |
| Stocks | 30/36 | €5,097 | €6,251 | +€1,154 | +22.6% |
| Amounts receivable within one year | 40/41 | €15,454 | €24,189 | +€8,735 | +56.5% |
| Trade receivables | 40 | €12,502 | €15,295 | +€2,793 | +22.3% |
| Other amounts receivable | 41 | €2,952 | €8,893 | +€5,942 | +201% |
| Current investments | 50/53 | - | €16,000 | +€16,000 | |
| Cash at bank and in hand | 54/58 | €75,526 | €84,528 | +€9,002 | +11.9% |
| Deferred charges and accrued income | 490/1 | €1,755 | €2,533 | +€778 | +44.3% |
| Total equity and liabilities | 10/49 | €103,541 | €139,458 | +€35,917 | +34.7% |
| Equity | 10/15 | €94,141 | €122,358 | +€28,217 | +30.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €92,141 | €120,358 | +€28,217 | +30.6% |
| Distributable reserves | 133 | €92,141 | €120,358 | +€28,217 | +30.6% |
| Amounts payable | 17/49 | €9,400 | €17,100 | +€7,700 | +81.9% |
| Amounts payable within one year | 42/48 | €9,400 | €17,100 | +€7,700 | +81.9% |
| Trade debts | 44 | €9,057 | €7,588 | -€1,470 | -16.2% |
| Suppliers | 440/4 | €9,057 | €7,588 | -€1,470 | -16.2% |
| Taxes, remuneration and social security | 45 | - | €7,374 | +€7,374 | |
| Taxes | 450/3 | - | €702 | +€702 | |
| Remuneration and social security | 454/9 | - | €6,672 | +€6,672 | |
| Other amounts payable | 47/48 | €343 | €2,139 | +€1,796 | +524% |
| Remuneration, social security and pensions | 62 | €721 | €58,976 | +€58,255 | +8,081% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €522 | €1,781 | +€1,259 | +241% |
| Other operating charges | 640/8 | €10,867 | €19,541 | +€8,674 | +79.8% |
| Gross operating margin | 9900 | €37,894 | €125,166 | +€87,272 | +230% |
| Operating profit (loss) | 9901 | €25,784 | €44,868 | +€19,084 | +74.0% |
| Financial income | 75/76B | €913 | €49 | -€864 | -94.6% |
| Recurring financial income | 75 | €913 | €49 | -€864 | -94.6% |
| Financial charges | 65/66B | €1,254 | €5,377 | +€4,123 | +329% |
| Recurring financial charges | 65 | €1,254 | €4,973 | +€3,719 | +296% |
| Non-recurring financial charges | 66B | - | €404 | +€404 | |
| Profit (loss) for the period before taxes | 9903 | €25,442 | €39,539 | +€14,097 | +55.4% |
| Income taxes | 67/77 | €9,798 | €11,322 | +€1,524 | +15.6% |
| Profit (loss) for the period | 9904 | €15,644 | €28,217 | +€12,573 | +80.4% |
| Profit (loss) for the period to be appropriated | 9905 | €15,644 | €28,217 | +€12,573 | +80.4% |
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 27 October 2026 via checked.be.