VRBST: 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.
VRBST
Largest movements
- Cash +€11,140
up €11,140 (+14.4%), from €77,157 to €88,297
mainly Net result for the year (+€17,065) and Depreciation (+€9,297)
- Receivables within one year +€10,791
up €10,791 (+8.6%), from €125,784 to €136,575
of which Trade receivables: +€12,525
- Tangible fixed assets -€9,297
down €9,297 (-35.8%), from €25,980 to €16,683
- Reserves +€5,665
up €5,665 (+4.9%), from €116,192 to €121,856
of which Distributable reserves: +€5,665
- Tax, wage and social debts +€5,634
up €5,634 (+442.9%), from €1,272 to €6,905
- Gross operating margin +€15,606
up €15,606 (+87.0%), from €17,938 to €33,544
- Taxes +€5,443
up €5,443 (+530.3%), from €1,026 to €6,469
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 | €228,921 | €241,555 | +€12,635 | +5.5% |
| Fixed assets | 21/28 | €25,980 | €16,683 | -€9,297 | -35.8% |
| Tangible fixed assets | 22/27 | €25,980 | €16,683 | -€9,297 | -35.8% |
| Furniture and vehicles | 24 | €25,980 | €16,683 | -€9,297 | -35.8% |
| Current assets | 29/58 | €202,941 | €224,872 | +€21,931 | +10.8% |
| Amounts receivable within one year | 40/41 | €125,784 | €136,575 | +€10,791 | +8.6% |
| Trade receivables | 40 | €123,813 | €136,338 | +€12,525 | +10.1% |
| Other amounts receivable | 41 | €1,971 | €237 | -€1,734 | -88.0% |
| Cash at bank and in hand | 54/58 | €77,157 | €88,297 | +€11,140 | +14.4% |
| Total equity and liabilities | 10/49 | €228,921 | €241,555 | +€12,635 | +5.5% |
| Equity | 10/15 | €216,192 | €221,856 | +€5,665 | +2.6% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €116,192 | €121,856 | +€5,665 | +4.9% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €106,192 | €111,856 | +€5,665 | +5.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €12,729 | €19,699 | +€6,970 | +54.8% |
| Amounts payable within one year | 42/48 | €12,729 | €19,699 | +€6,970 | +54.8% |
| Trade debts | 44 | €0 | €878 | +€878 | |
| Suppliers | 440/4 | €0 | €878 | +€878 | |
| Taxes, remuneration and social security | 45 | €1,272 | €6,905 | +€5,634 | +442.9% |
| Taxes | 450/3 | €1,272 | €6,905 | +€5,634 | +442.9% |
| Other amounts payable | 47/48 | €11,457 | €11,915 | +€458 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,297 | €9,297 | = | 0.0% |
| Other operating charges | 640/8 | €668 | €684 | +€16 | +2.4% |
| Gross operating margin | 9900 | €17,938 | €33,544 | +€15,606 | +87.0% |
| Operating profit (loss) | 9901 | €7,974 | €23,563 | +€15,590 | +195.5% |
| Financial charges | 65/66B | €28 | €29 | +€1 | +5.2% |
| Recurring financial charges | 65 | €28 | €29 | +€1 | +5.2% |
| Profit (loss) for the period before taxes | 9903 | €7,946 | €23,534 | +€15,588 | +196.2% |
| Income taxes | 67/77 | €1,026 | €6,469 | +€5,443 | +530.3% |
| Profit (loss) for the period | 9904 | €6,919 | €17,065 | +€10,145 | +146.6% |
| Profit (loss) for the period to be appropriated | 9905 | €6,919 | €17,065 | +€10,145 | +146.6% |
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 7 October 2026 via checked.be.