VR-WORKS: what changed
VR-WORKS
Largest movements
- Cash -€23,738
down €23,738 (-15.6%), from €151,888 to €128,150
mainly Net result for the year (-€48,023) and Current portion of long-term debt (-€1,737)
- Tangible fixed assets -€18,119
down €18,119 (-35.3%), from €51,279 to €33,160
of which Furniture and vehicles: -€17,025
- Deferred charges and accrued income -€2,348
down €2,348 (-53.8%), from €4,361 to €2,013
- Reserves -€33,551
down €33,551 (-19.2%), from €174,949 to €141,398
- Profit (loss) carried forward -€14,472
new in 2025: -€14,472
- Other debts +€3,013
up €3,013 (+29.4%), from €10,264 to €13,276
- Gross operating margin -€9,032
down €9,032 (-48.5%), from -€18,610 to -€27,642
- Depreciation -€799
down €799 (-4.2%), from €18,919 to €18,119
- Financial income -€416
down €416 (-98.4%), from €422 to €7
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €212,178 | €166,167 | -€46,011 | -21.7% |
| Fixed assets | 21/28 | €51,279 | €33,160 | -€18,119 | -35.3% |
| Tangible fixed assets | 22/27 | €51,279 | €33,160 | -€18,119 | -35.3% |
| Plant, machinery and equipment | 23 | €569 | - | -€569 | |
| Furniture and vehicles | 24 | €47,835 | €30,810 | -€17,025 | -35.6% |
| Other tangible fixed assets | 26 | €2,876 | €2,350 | -€525 | -18.3% |
| Current assets | 29/58 | €160,898 | €133,007 | -€27,892 | -17.3% |
| Amounts receivable within one year | 40/41 | €4,649 | €2,843 | -€1,806 | -38.8% |
| Trade receivables | 40 | €990 | - | -€990 | |
| Other amounts receivable | 41 | €3,659 | €2,843 | -€816 | -22.3% |
| Cash at bank and in hand | 54/58 | €151,888 | €128,150 | -€23,738 | -15.6% |
| Deferred charges and accrued income | 490/1 | €4,361 | €2,013 | -€2,348 | -53.8% |
| Total equity and liabilities | 10/49 | €212,178 | €166,167 | -€46,011 | -21.7% |
| Equity | 10/15 | €199,738 | €151,715 | -€48,023 | -24.0% |
| Contributions | 10/11 | €24,789 | €24,789 | = | 0.0% |
| Reserves | 13 | €174,949 | €141,398 | -€33,551 | -19.2% |
| Distributable reserves | 133 | €174,949 | €141,398 | -€33,551 | -19.2% |
| Profit (loss) carried forward | 14 | - | -€14,472 | -€14,472 | |
| Amounts payable | 17/49 | €12,439 | €14,451 | +€2,012 | +16.2% |
| Amounts payable within one year | 42/48 | €12,439 | €14,451 | +€2,012 | +16.2% |
| Current portion of amounts payable after more than one year | 42 | €1,737 | - | -€1,737 | |
| Trade debts | 44 | €439 | €1,175 | +€736 | +168% |
| Suppliers | 440/4 | €439 | €1,175 | +€736 | +168% |
| Other amounts payable | 47/48 | €10,264 | €13,276 | +€3,013 | +29.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,919 | €18,119 | -€799 | -4.2% |
| Other operating charges | 640/8 | €1,860 | €1,905 | +€46 | +2.5% |
| Gross operating margin | 9900 | -€18,610 | -€27,642 | -€9,032 | -48.5% |
| Operating profit (loss) | 9901 | -€39,388 | -€47,666 | -€8,278 | -21.0% |
| Financial income | 75/76B | €422 | €7 | -€416 | -98.4% |
| Recurring financial income | 75 | €422 | €7 | -€416 | -98.4% |
| Financial charges | 65/66B | €363 | €231 | -€131 | -36.2% |
| Recurring financial charges | 65 | €363 | €231 | -€131 | -36.2% |
| Profit (loss) for the period before taxes | 9903 | -€39,329 | -€47,891 | -€8,562 | -21.8% |
| Income taxes | 67/77 | €166 | €132 | -€34 | -20.5% |
| Profit (loss) for the period | 9904 | -€39,495 | -€48,023 | -€8,528 | -21.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€39,495 | -€48,023 | -€8,528 | -21.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.