VP RE&C: 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 RE&C
Largest movements
- Cash +€54,291
up €54,291 (+161.4%), from €33,638 to €87,928
mainly Other debts (+€89,886) and Net result for the year (+€50,520)
- Receivables within one year -€10,219
down €10,219 (-83.8%), from €12,201 to €1,982
of which Other amounts receivable: -€5,359
- Tangible fixed assets -€4,570
down €4,570 (-31.3%), from €14,617 to €10,047
of which Furniture and vehicles: -€4,353
- Deferred charges and accrued income +€2,182
up €2,182 (+82.4%), from €2,648 to €4,830
- Other debts +€89,886
up €89,886 (+290.5%), from €30,941 to €120,827
- Reserves -€36,624
no longer reported in 2025 (was €36,624)
- Trade debts -€10,551
down €10,551 (-88.0%), from €11,997 to €1,446
- Tax, wage and social debts +€9,839
up €9,839 (+121.9%), from €8,070 to €17,909
of which Taxes: +€6,025
- Profit (loss) carried forward -€9,260
no longer reported in 2025 (was €9,260)
- Gross operating margin +€62,457
up €62,457 (+1017.8%), from €6,137 to €68,593
- Taxes +€12,457
up €12,457 (+1466.8%), from €849 to €13,307
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 | €100,528 | €142,486 | +€41,959 | +41.7% |
| Fixed assets | 21/28 | €14,617 | €10,047 | -€4,570 | -31.3% |
| Tangible fixed assets | 22/27 | €14,617 | €10,047 | -€4,570 | -31.3% |
| Furniture and vehicles | 24 | €12,888 | €8,535 | -€4,353 | -33.8% |
| Other tangible fixed assets | 26 | €1,729 | €1,512 | -€217 | -12.6% |
| Current assets | 29/58 | €85,911 | €132,440 | +€46,529 | +54.2% |
| Amounts receivable within one year | 40/41 | €12,201 | €1,982 | -€10,219 | -83.8% |
| Trade receivables | 40 | €5,130 | €270 | -€4,860 | -94.7% |
| Other amounts receivable | 41 | €7,071 | €1,712 | -€5,359 | -75.8% |
| Current investments | 50/53 | €37,425 | €37,700 | +€275 | +0.7% |
| Cash at bank and in hand | 54/58 | €33,638 | €87,928 | +€54,291 | +161.4% |
| Deferred charges and accrued income | 490/1 | €2,648 | €4,830 | +€2,182 | +82.4% |
| Total equity and liabilities | 10/49 | €100,528 | €142,486 | +€41,959 | +41.7% |
| Equity | 10/15 | €47,885 | €2,000 | -€45,885 | -95.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €36,624 | - | -€36,624 | |
| Distributable reserves | 133 | €36,624 | - | -€36,624 | |
| Profit (loss) carried forward | 14 | €9,260 | - | -€9,260 | |
| Amounts payable | 17/49 | €52,643 | €140,486 | +€87,843 | +166.9% |
| Amounts payable within one year | 42/48 | €51,008 | €140,181 | +€89,174 | +174.8% |
| Trade debts | 44 | €11,997 | €1,446 | -€10,551 | -88.0% |
| Suppliers | 440/4 | €11,997 | €1,446 | -€10,551 | -88.0% |
| Taxes, remuneration and social security | 45 | €8,070 | €17,909 | +€9,839 | +121.9% |
| Taxes | 450/3 | €8,070 | €14,095 | +€6,025 | +74.7% |
| Remuneration and social security | 454/9 | - | €3,814 | +€3,814 | |
| Other amounts payable | 47/48 | €30,941 | €120,827 | +€89,886 | +290.5% |
| Accrued charges and deferred income | 492/3 | €1,635 | €305 | -€1,330 | -81.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,591 | €4,570 | -€21 | -0.4% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €6,137 | €68,593 | +€62,457 | +1017.8% |
| Operating profit (loss) | 9901 | €1,159 | €63,624 | +€62,465 | +5391.5% |
| Financial income | 75/76B | €797 | €630 | -€167 | -20.9% |
| Recurring financial income | 75 | €797 | €630 | -€167 | -20.9% |
| Financial charges | 65/66B | €428 | €428 | -€1 | -0.2% |
| Recurring financial charges | 65 | €428 | €428 | -€1 | -0.2% |
| Profit (loss) for the period before taxes | 9903 | €1,527 | €63,826 | +€62,299 | +4079.9% |
| Income taxes | 67/77 | €849 | €13,307 | +€12,457 | +1466.8% |
| Profit (loss) for the period | 9904 | €678 | €50,520 | +€49,842 | +7354.4% |
| Profit (loss) for the period to be appropriated | 9905 | €678 | €50,520 | +€49,842 | +7354.4% |
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 10 October 2026 via checked.be.