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VRB: 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.

What changed

VRB

BE 0400.115.694
NACE 23.630, Manufacture of other non-metallic mineral products
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1.5m
2024 · €1.6m-€96,671
Equity
€6.1m
2024 · €4.6m+€1.5m
Cash
€2.5m
2024 · €2.2m+€343,233
Balance sheet total
€8.3m
2024 · €6.1m+€2.2m

Largest movements

2024 to 2025
Assets
  • Receivables within one year +€1.5m

    up €1.5m (+103%), from €1.4m to €2.9m

    of which Trade receivables: +€1.5m

  • Cash +€343,233

    up €343,233 (+15.6%), from €2.2m to €2.5m

    mainly Net result for the year (+€1.5m) and Trade debts (+€1.3m)

  • Tangible fixed assets +€285,278

    up €285,278 (+13.7%), from €2.1m to €2.4m

    of which Land and buildings: +€230,380

  • Stocks and contracts +€151,945

    up €151,945 (+39.1%), from €388,691 to €540,635

Equity and liabilities
  • Reserves +€1.5m

    up €1.5m (+55.6%), from €2.7m to €4.2m

    of which Distributable reserves: +€1.3m

  • Trade debts +€1.3m

    up €1.3m (+313%), from €428,010 to €1.8m

  • Other debts -€888,802

    down €888,802 (-96.8%), from €917,788 to €28,986

  • Tax, wage and social debts +€230,723

    up €230,723 (+99.3%), from €232,455 to €463,178

    of which Taxes: +€227,982

Income statement
  • Turnover -€8.5m

    no longer reported in 2025 (was €8.5m)

  • Purchases and services -€5.9m

    no longer reported in 2025 (was €5.9m)

  • Taxes +€125,896

    up €125,896 (+22.4%), from €562,219 to €688,115

  • Gross operating margin +€91,987

    up €91,987 (+3.5%), from €2.6m to €2.7m

From the 2024 result to the 2025 result

effect on the 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.

Result 2024 €1.6m
Gross operating margin +€91,987
Staff costs -€25,565
Depreciation -€6,275
Other operating charges -€38,353
Financial income +€8,219
Financial charges -€789
Taxes -€125,896
Result 2025 €1.5m
raises the resultlowers the result

Derived cash bridge

cash 2024 to 2025

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.

From operations +€725,696
Investment -€366,038
Financing -€16,425
Cash 2024 €2.2m
Net result for the year +€1.5m
Depreciation +€130,761
Stocks and contracts -€151,945
Receivables within one year -€1.5m
Smaller working-capital items -€2,426
Trade debts +€1.3m
Tax, wage and social debts +€230,723
Other debts -€888,802
Investment in fixed assets (net) -€416,038
Current investments +€50,000
Contributions, distributions and other -€16,425
Cash 2025 €2.5m
brings cash intakes cash out
Every line side by side 49 lines
Line Code 2024 2025 Change %
Total assets 20/58 €6,144,229 €8,328,946 +€2.2m +35.6%
Fixed assets 21/28 €2,086,540 €2,371,818 +€285,278 +13.7%
Tangible fixed assets 22/27 €2,086,540 €2,371,818 +€285,278 +13.7%
Land and buildings 22 €2,037,946 €2,268,326 +€230,380 +11.3%
Plant, machinery and equipment 23 €48,594 €43,472 -€5,122 -10.5%
Furniture and vehicles 24 - €52,520 +€52,520
Other tangible fixed assets 26 - €7,500 +€7,500
Current assets 29/58 €4,057,689 €5,957,128 +€1.9m +46.8%
Stocks and contracts in progress 3 €388,691 €540,635 +€151,945 +39.1%
Stocks 30/36 €388,691 €540,635 +€151,945 +39.1%
Amounts receivable within one year 40/41 €1,414,265 €2,865,095 +€1.5m +103%
Trade receivables 40 €1,414,247 €2,864,951 +€1.5m +103%
Other amounts receivable 41 €17 €144 +€127 +730%
Current investments 50/53 €50,000 €0 -€50,000 -100%
Cash at bank and in hand 54/58 €2,204,212 €2,547,445 +€343,233 +15.6%
Deferred charges and accrued income 490/1 €522 €3,953 +€3,431 +657%
Total equity and liabilities 10/49 €6,144,229 €8,328,946 +€2.2m +35.6%
Equity 10/15 €4,564,978 €6,067,794 +€1.5m +32.9%
Contributions 10/11 €831,100 €831,100 = 0.0%
Reserves 13 €2,700,819 €4,203,636 +€1.5m +55.6%
Tax-exempt reserves 132 €505,200 €673,600 +€168,400 +33.3%
Distributable reserves 133 €2,195,619 €3,530,036 +€1.3m +60.8%
Profit (loss) carried forward 14 €1,033,058 €1,033,058 = 0.0%
Amounts payable 17/49 €1,579,252 €2,261,152 +€681,900 +43.2%
Amounts payable within one year 42/48 €1,578,252 €2,259,147 +€680,895 +43.1%
Trade debts 44 €428,010 €1,766,983 +€1.3m +313%
Suppliers 440/4 €428,010 €1,766,983 +€1.3m +313%
Taxes, remuneration and social security 45 €232,455 €463,178 +€230,723 +99.3%
Taxes 450/3 €213,129 €441,112 +€227,982 +107%
Remuneration and social security 454/9 €19,325 €22,066 +€2,740 +14.2%
Other amounts payable 47/48 €917,788 €28,986 -€888,802 -96.8%
Accrued charges and deferred income 492/3 €1,000 €2,005 +€1,005 +101%
Turnover 70 €8,451,232 - -€8.5m
Goods, raw materials, services and sundry goods 60/61 €5,894,842 - -€5.9m
Remuneration, social security and pensions 62 €296,997 €322,562 +€25,565 +8.6%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets 630 €124,485 €130,761 +€6,275 +5.0%
Other operating charges 640/8 €15,479 €53,832 +€38,353 +248%
Gross operating margin 9900 €2,591,553 €2,683,540 +€91,987 +3.5%
Operating profit (loss) 9901 €2,154,591 €2,176,385 +€21,794 +1.0%
Financial income 75/76B €27,651 €35,870 +€8,219 +29.7%
Recurring financial income 75 €27,651 €35,870 +€8,219 +29.7%
Financial charges 65/66B €4,110 €4,899 +€789 +19.2%
Recurring financial charges 65 €4,110 €4,899 +€789 +19.2%
Profit (loss) for the period before taxes 9903 €2,178,132 €2,207,356 +€29,224 +1.3%
Income taxes 67/77 €562,219 €688,115 +€125,896 +22.4%
Profit (loss) for the period 9904 €1,615,913 €1,519,242 -€96,671 -6.0%
Transfer from tax-exempt reserves 789 €0 - =
Transfer to tax-exempt reserves 689 €168,400 €168,400 = 0.0%
Profit (loss) for the period to be appropriated 9905 €1,447,513 €1,350,842 -€96,671 -6.7%

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 28 October 2026 via checked.be.