VP Projects: what changed
Two fiscal 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 Projects
Largest movements
- Cash -€12,496
no longer reported in 2025 (was €12,496)
mainly Receivables within one year (-€7,564) and Tax, wage and social debts (-€5,620)
- Receivables within one year +€7,564
up €7,564 (+13.7%), from €55,016 to €62,580
of which Trade receivables: +€4,434
- Tax, wage and social debts -€5,620
down €5,620 (-27.7%), from €20,293 to €14,673
- Trade debts +€2,737
up €2,737 (+82.8%), from €3,306 to €6,043
- Reserves -€1,752
down €1,752 (-3.9%), from €45,035 to €43,282
- Gross operating margin -€60,789
down €60,789 (-94.4%), from €64,403 to €3,613
- Taxes -€12,089
down €12,089 (-90.3%), from €13,381 to €1,292
- Financial income +€1,176
up €1,176 (+75.2%), from €1,563 to €2,738
- Other operating charges -€687
down €687 (-30.5%), from €2,255 to €1,568
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 | €68,734 | €64,531 | -€4,203 | -6.1% |
| Fixed assets | 21/28 | €1,222 | €1,736 | +€514 | +42.0% |
| Tangible fixed assets | 22/27 | €1,222 | €1,736 | +€514 | +42.0% |
| Plant, machinery and equipment | 23 | €1,222 | €912 | -€310 | -25.4% |
| Furniture and vehicles | 24 | - | €824 | +€824 | |
| Current assets | 29/58 | €67,512 | €62,795 | -€4,717 | -7.0% |
| Amounts receivable within one year | 40/41 | €55,016 | €62,580 | +€7,564 | +13.7% |
| Trade receivables | 40 | - | €4,434 | +€4,434 | |
| Other amounts receivable | 41 | €55,016 | €58,146 | +€3,130 | +5.7% |
| Cash at bank and in hand | 54/58 | €12,496 | - | -€12,496 | |
| Deferred charges and accrued income | 490/1 | - | €215 | +€215 | |
| Total equity and liabilities | 10/49 | €68,734 | €64,531 | -€4,203 | -6.1% |
| Equity | 10/15 | €45,135 | €43,382 | -€1,752 | -3.9% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €45,035 | €43,282 | -€1,752 | -3.9% |
| Distributable reserves | 133 | €45,035 | €43,282 | -€1,752 | -3.9% |
| Amounts payable | 17/49 | €23,600 | €21,149 | -€2,451 | -10.4% |
| Amounts payable within one year | 42/48 | €23,600 | €21,149 | -€2,451 | -10.4% |
| Financial debts | 43 | - | €432 | +€432 | |
| Credit institutions | 430/8 | - | €432 | +€432 | |
| Trade debts | 44 | €3,306 | €6,043 | +€2,737 | +82.8% |
| Suppliers | 440/4 | €3,306 | €6,043 | +€2,737 | +82.8% |
| Taxes, remuneration and social security | 45 | €20,293 | €14,673 | -€5,620 | -27.7% |
| Taxes | 450/3 | €20,293 | €14,673 | -€5,620 | -27.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €279 | €759 | +€480 | +172.1% |
| Other operating charges | 640/8 | €2,255 | €1,568 | -€687 | -30.5% |
| Gross operating margin | 9900 | €64,403 | €3,613 | -€60,789 | -94.4% |
| Operating profit (loss) | 9901 | €61,869 | €1,287 | -€60,583 | -97.9% |
| Financial income | 75/76B | €1,563 | €2,738 | +€1,176 | +75.2% |
| Recurring financial income | 75 | €1,563 | €2,738 | +€1,176 | +75.2% |
| Financial charges | 65/66B | €5,016 | €4,485 | -€532 | -10.6% |
| Recurring financial charges | 65 | €5,016 | €4,485 | -€532 | -10.6% |
| Profit (loss) for the period before taxes | 9903 | €58,416 | -€460 | -€58,876 | |
| Income taxes | 67/77 | €13,381 | €1,292 | -€12,089 | -90.3% |
| Profit (loss) for the period | 9904 | €45,035 | -€1,752 | -€46,787 | |
| Profit (loss) for the period to be appropriated | 9905 | €45,035 | -€1,752 | -€46,787 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.