VR: 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.
VR
Largest movements
- Cash -€15,867
down €15,867 (-33.8%), from €46,900 to €31,033
mainly Trade debts (-€16,298) and Receivables within one year (-€11,416)
- Receivables within one year +€11,416
up €11,416 (+850.4%), from €1,342 to €12,759
of which Trade receivables: +€10,535
- Tangible fixed assets -€773
down €773 (-40.4%), from €1,913 to €1,140
of which Furniture and vehicles: -€487
- Trade debts -€16,298
down €16,298 (-48.4%), from €33,681 to €17,383
- Tax, wage and social debts +€9,380
up €9,380 (+112.9%), from €8,308 to €17,688
- Profit (loss) carried forward +€1,911
up €1,911 (+61.8%), from -€3,095 to -€1,184
- Other operating charges -€5,265
no longer reported in 2025 (was €5,265)
- Gross operating margin -€1,534
down €1,534 (-19.2%), from €7,985 to €6,452
- Financial charges +€388
up €388 (+123.7%), from €314 to €702
- Staff costs +€120
new in 2025: €120
- Taxes -€106
down €106 (-6.4%), from €1,654 to €1,548
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 | €50,552 | €45,485 | -€5,066 | -10.0% |
| Fixed assets | 21/28 | €1,963 | €1,190 | -€773 | -39.4% |
| Tangible fixed assets | 22/27 | €1,913 | €1,140 | -€773 | -40.4% |
| Plant, machinery and equipment | 23 | €1,410 | €1,123 | -€287 | -20.3% |
| Furniture and vehicles | 24 | €503 | €17 | -€487 | -96.7% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €48,588 | €44,295 | -€4,293 | -8.8% |
| Amounts receivable within one year | 40/41 | €1,342 | €12,759 | +€11,416 | +850.4% |
| Trade receivables | 40 | €693 | €11,228 | +€10,535 | +1519.6% |
| Other amounts receivable | 41 | €649 | €1,531 | +€882 | +135.8% |
| Cash at bank and in hand | 54/58 | €46,900 | €31,033 | -€15,867 | -33.8% |
| Deferred charges and accrued income | 490/1 | €346 | €504 | +€157 | +45.5% |
| Total equity and liabilities | 10/49 | €50,552 | €45,485 | -€5,066 | -10.0% |
| Equity | 10/15 | €2,405 | €4,316 | +€1,911 | +79.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €500 | €500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €500 | €500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €500 | €500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,095 | -€1,184 | +€1,911 | +61.8% |
| Amounts payable | 17/49 | €48,147 | €41,169 | -€6,978 | -14.5% |
| Amounts payable within one year | 42/48 | €48,147 | €41,169 | -€6,978 | -14.5% |
| Trade debts | 44 | €33,681 | €17,383 | -€16,298 | -48.4% |
| Suppliers | 440/4 | €33,681 | €17,383 | -€16,298 | -48.4% |
| Taxes, remuneration and social security | 45 | €8,308 | €17,688 | +€9,380 | +112.9% |
| Taxes | 450/3 | €8,308 | €17,688 | +€9,380 | +112.9% |
| Other amounts payable | 47/48 | €6,157 | €6,097 | -€60 | -1.0% |
| Remuneration, social security and pensions | 62 | - | €120 | +€120 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,241 | €2,178 | -€63 | -2.8% |
| Other operating charges | 640/8 | €5,265 | - | -€5,265 | |
| Gross operating margin | 9900 | €7,985 | €6,452 | -€1,534 | -19.2% |
| Operating profit (loss) | 9901 | €479 | €4,154 | +€3,675 | +766.6% |
| Financial income | 75/76B | €3 | €7 | +€5 | +166.1% |
| Recurring financial income | 75 | €3 | €7 | +€5 | +166.1% |
| Financial charges | 65/66B | €314 | €702 | +€388 | +123.7% |
| Recurring financial charges | 65 | €314 | €702 | +€388 | +123.7% |
| Profit (loss) for the period before taxes | 9903 | €168 | €3,460 | +€3,291 | +1956.4% |
| Income taxes | 67/77 | €1,654 | €1,548 | -€106 | -6.4% |
| Profit (loss) for the period | 9904 | -€1,486 | €1,911 | +€3,397 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,486 | €1,911 | +€3,397 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.