VR.Adjust: 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.Adjust
Largest movements
- Tangible fixed assets -€9,725
down €9,725 (-36.4%), from €26,711 to €16,986
of which Furniture and vehicles: -€6,858
- Receivables within one year -€3,487
down €3,487 (-42.9%), from €8,127 to €4,640
of which Other amounts receivable: -€3,702
- Cash -€2,792
down €2,792 (-25.8%), from €10,814 to €8,021
mainly Contributions, distributions and other (-€6,600) and Net result for the year (-€5,805)
- Deferred charges and accrued income +€1,752
up €1,752 (+24.7%), from €7,079 to €8,831
- Profit (loss) carried forward -€12,405
down €12,405 (-45.2%), from €27,475 to €15,070
- Other debts +€7,302
up €7,302 (+7323.0%), from €100 to €7,402
- Debts after one year -€5,157
down €5,157 (-56.6%), from €9,111 to €3,954
- Trade debts -€2,471
down €2,471 (-54.7%), from €4,515 to €2,044
- Tax, wage and social debts -€1,662
down €1,662 (-27.2%), from €6,116 to €4,454
of which Taxes: -€1,770
- Gross operating margin -€11,483
down €11,483 (-25.7%), from €44,665 to €33,182
- Taxes -€2,770
down €2,770 (-73.1%), from €3,787 to €1,018
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 | €60,406 | €46,153 | -€14,253 | -23.6% |
| Fixed assets | 21/28 | €26,802 | €17,077 | -€9,725 | -36.3% |
| Tangible fixed assets | 22/27 | €26,711 | €16,986 | -€9,725 | -36.4% |
| Plant, machinery and equipment | 23 | €6,783 | €4,548 | -€2,235 | -32.9% |
| Furniture and vehicles | 24 | €17,989 | €11,132 | -€6,858 | -38.1% |
| Other tangible fixed assets | 26 | €1,939 | €1,306 | -€633 | -32.6% |
| Financial fixed assets | 28 | €91 | €91 | = | 0.0% |
| Current assets | 29/58 | €33,603 | €29,076 | -€4,527 | -13.5% |
| Amounts receivable after more than one year | 29 | €7,584 | €7,584 | = | 0.0% |
| Other amounts receivable | 291 | €7,584 | €7,584 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €8,127 | €4,640 | -€3,487 | -42.9% |
| Trade receivables | 40 | €4,204 | €4,419 | +€215 | +5.1% |
| Other amounts receivable | 41 | €3,923 | €221 | -€3,702 | -94.4% |
| Cash at bank and in hand | 54/58 | €10,814 | €8,021 | -€2,792 | -25.8% |
| Deferred charges and accrued income | 490/1 | €7,079 | €8,831 | +€1,752 | +24.7% |
| Total equity and liabilities | 10/49 | €60,406 | €46,153 | -€14,253 | -23.6% |
| Equity | 10/15 | €35,535 | €23,130 | -€12,405 | -34.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €27,475 | €15,070 | -€12,405 | -45.2% |
| Amounts payable | 17/49 | €24,870 | €23,023 | -€1,848 | -7.4% |
| Amounts payable after more than one year | 17 | €9,111 | €3,954 | -€5,157 | -56.6% |
| Financial debts | 170/4 | €9,111 | €3,954 | -€5,157 | -56.6% |
| Amounts payable within one year | 42/48 | €15,760 | €19,057 | +€3,297 | +20.9% |
| Current portion of amounts payable after more than one year | 42 | €5,029 | €5,157 | +€128 | +2.5% |
| Trade debts | 44 | €4,515 | €2,044 | -€2,471 | -54.7% |
| Suppliers | 440/4 | €4,515 | €2,044 | -€2,471 | -54.7% |
| Taxes, remuneration and social security | 45 | €6,116 | €4,454 | -€1,662 | -27.2% |
| Taxes | 450/3 | €3,222 | €1,452 | -€1,770 | -54.9% |
| Remuneration and social security | 454/9 | €2,895 | €3,002 | +€107 | +3.7% |
| Other amounts payable | 47/48 | €100 | €7,402 | +€7,302 | +7323.0% |
| Accrued charges and deferred income | 492/3 | - | €12 | +€12 | |
| Remuneration, social security and pensions | 62 | €26,767 | €27,126 | +€359 | +1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,658 | €9,725 | +€68 | +0.7% |
| Other operating charges | 640/8 | €1,209 | €891 | -€318 | -26.3% |
| Gross operating margin | 9900 | €44,665 | €33,182 | -€11,483 | -25.7% |
| Operating profit (loss) | 9901 | €7,032 | -€4,559 | -€11,591 | |
| Financial income | 75/76B | €337 | €221 | -€116 | -34.3% |
| Recurring financial income | 75 | €337 | €221 | -€116 | -34.3% |
| Financial charges | 65/66B | €593 | €450 | -€143 | -24.1% |
| Recurring financial charges | 65 | €593 | €450 | -€143 | -24.1% |
| Profit (loss) for the period before taxes | 9903 | €6,776 | -€4,788 | -€11,564 | |
| Income taxes | 67/77 | €3,787 | €1,018 | -€2,770 | -73.1% |
| Profit (loss) for the period | 9904 | €2,989 | -€5,805 | -€8,794 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,989 | -€5,805 | -€8,794 |
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 5 October 2026 via checked.be.