VR Marketing: 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.
VR Marketing
Largest movements
- Receivables within one year +€48,879
up €48,879 (+57.8%), from €84,581 to €133,460
of which Trade receivables: +€42,570
- Cash -€35,496
down €35,496 (-46.6%), from €76,230 to €40,734
mainly Receivables within one year (-€48,879) and Tax, wage and social debts (-€16,138)
- Tangible fixed assets -€14,328
down €14,328 (-62.9%), from €22,768 to €8,440
- Deferred charges and accrued income +€2,204
up €2,204 (+260%), from €848 to €3,052
- Profit (loss) carried forward +€27,311
up €27,311 (+32.0%), from €85,368 to €112,678
- Tax, wage and social debts -€16,138
down €16,138 (-30.8%), from €52,336 to €36,199
- Debts after one year -€7,020
down €7,020 (-100%), from €7,020 to €0
- Current portion of long-term debt -€3,124
down €3,124 (-30.8%), from €10,144 to €7,020
- Trade debts -€2,233
down €2,233 (-5.8%), from €38,422 to €36,188
- Gross operating margin +€8,446
up €8,446 (+14.2%), from €59,430 to €67,876
- Financial charges +€7,254
up €7,254 (+491%), from €1,476 to €8,730
of which Non-recurring financial charges: +€7,000
- Taxes +€4,788
up €4,788 (+40.0%), from €11,984 to €16,772
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 | €204,243 | €203,685 | -€558 | -0.3% |
| Fixed assets | 21/28 | €40,768 | €26,440 | -€14,328 | -35.1% |
| Tangible fixed assets | 22/27 | €22,768 | €8,440 | -€14,328 | -62.9% |
| Furniture and vehicles | 24 | €22,768 | €8,440 | -€14,328 | -62.9% |
| Financial fixed assets | 28 | €18,000 | €18,000 | = | 0.0% |
| Current assets | 29/58 | €163,475 | €177,245 | +€13,770 | +8.4% |
| Stocks and contracts in progress | 3 | €1,817 | €0 | -€1,817 | -100% |
| Stocks | 30/36 | €1,817 | €0 | -€1,817 | -100% |
| Amounts receivable within one year | 40/41 | €84,581 | €133,460 | +€48,879 | +57.8% |
| Trade receivables | 40 | €65,998 | €108,568 | +€42,570 | +64.5% |
| Other amounts receivable | 41 | €18,582 | €24,891 | +€6,309 | +34.0% |
| Cash at bank and in hand | 54/58 | €76,230 | €40,734 | -€35,496 | -46.6% |
| Deferred charges and accrued income | 490/1 | €848 | €3,052 | +€2,204 | +260% |
| Total equity and liabilities | 10/49 | €204,243 | €203,685 | -€558 | -0.3% |
| Equity | 10/15 | €95,368 | €122,678 | +€27,311 | +28.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €85,368 | €112,678 | +€27,311 | +32.0% |
| Amounts payable | 17/49 | €108,875 | €81,007 | -€27,868 | -25.6% |
| Amounts payable after more than one year | 17 | €7,020 | €0 | -€7,020 | -100% |
| Financial debts | 170/4 | €7,020 | €0 | -€7,020 | -100% |
| Amounts payable within one year | 42/48 | €101,467 | €81,007 | -€20,461 | -20.2% |
| Current portion of amounts payable after more than one year | 42 | €10,144 | €7,020 | -€3,124 | -30.8% |
| Trade debts | 44 | €38,422 | €36,188 | -€2,233 | -5.8% |
| Suppliers | 440/4 | €38,422 | €36,188 | -€2,233 | -5.8% |
| Taxes, remuneration and social security | 45 | €52,336 | €36,199 | -€16,138 | -30.8% |
| Taxes | 450/3 | €52,336 | €36,199 | -€16,138 | -30.8% |
| Other amounts payable | 47/48 | €565 | €1,599 | +€1,034 | +183% |
| Accrued charges and deferred income | 492/3 | €387 | €0 | -€387 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,328 | €14,328 | = | 0.0% |
| Other operating charges | 640/8 | €1,366 | €1,854 | +€488 | +35.7% |
| Gross operating margin | 9900 | €59,430 | €67,876 | +€8,446 | +14.2% |
| Operating profit (loss) | 9901 | €43,736 | €51,694 | +€7,958 | +18.2% |
| Financial income | 75/76B | €654 | €1,119 | +€464 | +71.0% |
| Recurring financial income | 75 | €654 | €1,119 | +€464 | +71.0% |
| Financial charges | 65/66B | €1,476 | €8,730 | +€7,254 | +491% |
| Recurring financial charges | 65 | €1,476 | €1,730 | +€254 | +17.2% |
| Non-recurring financial charges | 66B | - | €7,000 | +€7,000 | |
| Profit (loss) for the period before taxes | 9903 | €42,914 | €44,083 | +€1,168 | +2.7% |
| Income taxes | 67/77 | €11,984 | €16,772 | +€4,788 | +40.0% |
| Profit (loss) for the period | 9904 | €30,930 | €27,311 | -€3,620 | -11.7% |
| Profit (loss) for the period to be appropriated | 9905 | €30,930 | €27,311 | -€3,620 | -11.7% |
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 30 October 2026 via checked.be.