VR TRADING: 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 TRADING
Largest movements
- Tangible fixed assets +€32,928
up €32,928 (+16.3%), from €202,124 to €235,052
of which Furniture and vehicles: +€45,177
- Debts after one year +€27,996
up €27,996 (+866.7%), from €3,230 to €31,226
of which Financial debts: +€26,996
- Trade debts +€7,622
up €7,622 (+565.9%), from €1,347 to €8,969
- Current portion of long-term debt -€3,522
down €3,522 (-16.7%), from €21,114 to €17,592
- Short-term financial debts +€2,681
new in 2025: €2,681
- Depreciation +€4,954
up €4,954 (+36.1%), from €13,710 to €18,664
- Other operating charges +€1,949
up €1,949 (+23.8%), from €8,198 to €10,148
- Gross operating margin +€1,654
up €1,654 (+6.0%), from €27,464 to €29,119
- Financial charges -€621
down €621 (-30.2%), from €2,053 to €1,432
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 | €206,694 | €239,037 | +€32,343 | +15.6% |
| Fixed assets | 21/28 | €202,124 | €235,052 | +€32,928 | +16.3% |
| Tangible fixed assets | 22/27 | €202,124 | €235,052 | +€32,928 | +16.3% |
| Land and buildings | 22 | €194,401 | €181,448 | -€12,953 | -6.7% |
| Plant, machinery and equipment | 23 | €7,723 | €8,428 | +€704 | +9.1% |
| Furniture and vehicles | 24 | - | €45,177 | +€45,177 | |
| Current assets | 29/58 | €4,570 | €3,985 | -€585 | -12.8% |
| Current investments | 50/53 | €457 | €1,857 | +€1,400 | +306.3% |
| Cash at bank and in hand | 54/58 | €2,084 | - | -€2,084 | |
| Deferred charges and accrued income | 490/1 | €2,028 | €2,128 | +€99 | +4.9% |
| Total equity and liabilities | 10/49 | €206,694 | €239,037 | +€32,343 | +15.6% |
| Equity | 10/15 | €99,308 | €98,203 | -€1,105 | -1.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Revaluation surpluses | 12 | €230,000 | €230,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€198,892 | -€199,997 | -€1,105 | -0.6% |
| Amounts payable | 17/49 | €107,386 | €140,834 | +€33,448 | +31.1% |
| Amounts payable after more than one year | 17 | €3,230 | €31,226 | +€27,996 | +866.7% |
| Financial debts | 170/4 | - | €26,996 | +€26,996 | |
| Other amounts payable | 178/9 | €3,230 | €4,230 | +€1,000 | +31.0% |
| Amounts payable within one year | 42/48 | €103,769 | €108,821 | +€5,052 | +4.9% |
| Current portion of amounts payable after more than one year | 42 | €21,114 | €17,592 | -€3,522 | -16.7% |
| Financial debts | 43 | - | €2,681 | +€2,681 | |
| Credit institutions | 430/8 | - | €2,681 | +€2,681 | |
| Trade debts | 44 | €1,347 | €8,969 | +€7,622 | +565.9% |
| Suppliers | 440/4 | €1,347 | €8,969 | +€7,622 | +565.9% |
| Other amounts payable | 47/48 | €81,308 | €79,579 | -€1,729 | -2.1% |
| Accrued charges and deferred income | 492/3 | €387 | €787 | +€400 | +103.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,710 | €18,664 | +€4,954 | +36.1% |
| Other operating charges | 640/8 | €8,198 | €10,148 | +€1,949 | +23.8% |
| Gross operating margin | 9900 | €27,464 | €29,119 | +€1,654 | +6.0% |
| Operating profit (loss) | 9901 | €5,556 | €307 | -€5,249 | -94.5% |
| Financial income | 75/76B | €65 | €20 | -€44 | -68.6% |
| Recurring financial income | 75 | €65 | €20 | -€44 | -68.6% |
| Financial charges | 65/66B | €2,053 | €1,432 | -€621 | -30.2% |
| Recurring financial charges | 65 | €2,053 | €1,432 | -€621 | -30.2% |
| Profit (loss) for the period before taxes | 9903 | €3,568 | -€1,105 | -€4,673 | |
| Profit (loss) for the period | 9904 | €3,568 | -€1,105 | -€4,673 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,568 | -€1,105 | -€4,673 |
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.