vrae: what changed
vrae
Largest movements
- Cash +€197,002
up €197,002 (+666%), from €29,601 to €226,603
mainly Net result for the year (+€124,287) and Tax, wage and social debts (+€46,276)
- Receivables within one year -€23,732
down €23,732 (-53.3%), from €44,565 to €20,833
- Reserves +€124,287
up €124,287 (+278%), from €44,729 to €169,016
- Tax, wage and social debts +€46,276
up €46,276 (+248%), from €18,685 to €64,961
of which Taxes: +€43,773
- Other debts +€3,942
up €3,942 (+210%), from €1,873 to €5,815
- Trade debts -€2,593
down €2,593 (-49.5%), from €5,238 to €2,645
- Gross operating margin +€107,152
up €107,152 (+190%), from €56,347 to €163,499
- Taxes +€24,664
up €24,664 (+218%), from €11,319 to €35,983
- Financial charges +€2,735
up €2,735 (+1,832%), from €149 to €2,884
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 | €75,525 | €247,437 | +€171,912 | +228% |
| Current assets | 29/58 | €75,525 | €247,437 | +€171,912 | +228% |
| Amounts receivable within one year | 40/41 | €44,565 | €20,833 | -€23,732 | -53.3% |
| Trade receivables | 40 | €44,565 | €20,833 | -€23,732 | -53.3% |
| Cash at bank and in hand | 54/58 | €29,601 | €226,603 | +€197,002 | +666% |
| Deferred charges and accrued income | 490/1 | €1,359 | €0 | -€1,359 | -100% |
| Total equity and liabilities | 10/49 | €75,525 | €247,437 | +€171,912 | +228% |
| Equity | 10/15 | €49,729 | €174,016 | +€124,287 | +250% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €44,729 | €169,016 | +€124,287 | +278% |
| Distributable reserves | 133 | €44,729 | €169,016 | +€124,287 | +278% |
| Amounts payable | 17/49 | €25,796 | €73,421 | +€47,625 | +185% |
| Amounts payable within one year | 42/48 | €25,796 | €73,421 | +€47,625 | +185% |
| Trade debts | 44 | €5,238 | €2,645 | -€2,593 | -49.5% |
| Suppliers | 440/4 | €5,238 | €2,645 | -€2,593 | -49.5% |
| Taxes, remuneration and social security | 45 | €18,685 | €64,961 | +€46,276 | +248% |
| Taxes | 450/3 | €18,685 | €62,458 | +€43,773 | +234% |
| Remuneration and social security | 454/9 | - | €2,503 | +€2,503 | |
| Other amounts payable | 47/48 | €1,873 | €5,815 | +€3,942 | +210% |
| Other operating charges | 640/8 | €150 | €345 | +€195 | +130% |
| Gross operating margin | 9900 | €56,347 | €163,499 | +€107,152 | +190% |
| Operating profit (loss) | 9901 | €56,197 | €163,154 | +€106,957 | +190% |
| Financial charges | 65/66B | €149 | €2,884 | +€2,735 | +1,832% |
| Recurring financial charges | 65 | €149 | €2,884 | +€2,735 | +1,832% |
| Profit (loss) for the period before taxes | 9903 | €56,048 | €160,270 | +€104,222 | +186% |
| Income taxes | 67/77 | €11,319 | €35,983 | +€24,664 | +218% |
| Profit (loss) for the period | 9904 | €44,729 | €124,287 | +€79,558 | +178% |
| Profit (loss) for the period to be appropriated | 9905 | €44,729 | €124,287 | +€79,558 | +178% |
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.