VRCO: 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.
What changed
VRCO
NACE 56.112, Limited-service restaurants, excluding mobile food services
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€93,667
2024 · €42,798+€50,868
Equity
€104,969
2024 · €11,302+€93,667
Cash
€159,990
2024 · €145,630+€14,360
Balance sheet total
€697,652
2024 · €602,597+€95,055
Largest movements
Assets
- Receivables within one year +€54,427
up €54,427 (+785.0%), from €6,933 to €61,360
- Tangible fixed assets +€20,768
up €20,768 (+5.2%), from €399,487 to €420,255
- Cash +€14,360
up €14,360 (+9.9%), from €145,630 to €159,990
mainly Net result for the year (+€93,667) and Depreciation (+€60,340)
Equity and liabilities
- Profit (loss) carried forward +€93,667
up €93,667, from -€59,569 to €34,098
- Trade debts +€53,731
up €53,731 (+198.6%), from €27,055 to €80,786
- Debts after one year -€36,855
down €36,855 (-13.5%), from €272,599 to €235,744
- Other debts -€22,208
down €22,208 (-12.6%), from €176,365 to €154,157
Income statement
- Gross operating margin +€52,483
up €52,483 (+8.8%), from €597,958 to €650,441
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.
Result 2024
€42,798
Gross operating margin
+€52,483
Staff costs
+€3,491
Depreciation
-€5,936
Other operating charges
+€752
Financial income
+€4
Financial charges
+€1,483
Taxes
-€1,408
Result 2025
€93,667
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.
From operations
+€128,115
Investment
-€79,521
Financing
-€34,234
Cash 2024
€145,630
From operations (derived)
+€128,115
Net result for the year
+€93,667
Depreciation
+€60,340
Stocks and contracts
-€4,500
Receivables within one year
-€54,427
Deferred charges and accrued income
-€2,588
Trade debts
+€53,731
Tax, wage and social debts
+€2,980
Other debts
-€22,208
Accrued charges and deferred income
+€1,120
Investment (derived)
-€79,521
Investment in fixed assets (net)
-€79,521
Financing
-€34,234
Debts after one year
-€36,855
Current portion of long-term debt
+€2,326
Short-term financial debts
+€296
Cash 2025
€159,990
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €602,597 | €697,652 | +€95,055 | +15.8% |
| Fixed assets | 21/28 | €425,901 | €445,082 | +€19,181 | +4.5% |
| Intangible fixed assets | 21 | €26,415 | €24,827 | -€1,588 | -6.0% |
| Tangible fixed assets | 22/27 | €399,487 | €420,255 | +€20,768 | +5.2% |
| Plant, machinery and equipment | 23 | €106,587 | €113,164 | +€6,577 | +6.2% |
| Furniture and vehicles | 24 | €52,282 | €56,208 | +€3,926 | +7.5% |
| Other tangible fixed assets | 26 | €240,618 | €250,883 | +€10,266 | +4.3% |
| Current assets | 29/58 | €176,695 | €252,570 | +€75,875 | +42.9% |
| Stocks and contracts in progress | 3 | €16,500 | €21,000 | +€4,500 | +27.3% |
| Stocks | 30/36 | €16,500 | €21,000 | +€4,500 | +27.3% |
| Amounts receivable within one year | 40/41 | €6,933 | €61,360 | +€54,427 | +785.0% |
| Trade receivables | 40 | €6,933 | €61,360 | +€54,427 | +785.0% |
| Cash at bank and in hand | 54/58 | €145,630 | €159,990 | +€14,360 | +9.9% |
| Deferred charges and accrued income | 490/1 | €7,633 | €10,221 | +€2,588 | +33.9% |
| Total equity and liabilities | 10/49 | €602,597 | €697,652 | +€95,055 | +15.8% |
| Equity | 10/15 | €11,302 | €104,969 | +€93,667 | +828.7% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Outside capital | 11 | €30,000 | €30,000 | = | 0.0% |
| Other | 1109/19 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€59,569 | €34,098 | +€93,667 | |
| Investment grants | 15 | €40,871 | €40,871 | = | 0.0% |
| Provisions and deferred taxes | 16 | €10,218 | €10,218 | = | 0.0% |
| Deferred taxes | 168 | €10,218 | €10,218 | = | 0.0% |
| Amounts payable | 17/49 | €581,076 | €582,465 | +€1,388 | +0.2% |
| Amounts payable after more than one year | 17 | €272,599 | €235,744 | -€36,855 | -13.5% |
| Financial debts | 170/4 | €272,599 | €235,744 | -€36,855 | -13.5% |
| Amounts payable within one year | 42/48 | €308,477 | €345,601 | +€37,123 | +12.0% |
| Current portion of amounts payable after more than one year | 42 | €33,880 | €36,205 | +€2,326 | +6.9% |
| Financial debts | 43 | - | €296 | +€296 | |
| Credit institutions | 430/8 | - | €296 | +€296 | |
| Trade debts | 44 | €27,055 | €80,786 | +€53,731 | +198.6% |
| Suppliers | 440/4 | €27,055 | €80,786 | +€53,731 | +198.6% |
| Taxes, remuneration and social security | 45 | €71,178 | €74,157 | +€2,980 | +4.2% |
| Taxes | 450/3 | €35,329 | €33,962 | -€1,366 | -3.9% |
| Remuneration and social security | 454/9 | €35,849 | €40,195 | +€4,346 | +12.1% |
| Other amounts payable | 47/48 | €176,365 | €154,157 | -€22,208 | -12.6% |
| Accrued charges and deferred income | 492/3 | - | €1,120 | +€1,120 | |
| Remuneration, social security and pensions | 62 | €477,955 | €474,464 | -€3,491 | -0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,404 | €60,340 | +€5,936 | +10.9% |
| Other operating charges | 640/8 | €6,408 | €5,656 | -€752 | -11.7% |
| Gross operating margin | 9900 | €597,958 | €650,441 | +€52,483 | +8.8% |
| Operating profit (loss) | 9901 | €59,191 | €109,981 | +€50,790 | +85.8% |
| Financial income | 75/76B | €52 | €56 | +€4 | +7.1% |
| Recurring financial income | 75 | €52 | €56 | +€4 | +7.1% |
| Financial charges | 65/66B | €16,445 | €14,962 | -€1,483 | -9.0% |
| Recurring financial charges | 65 | €16,445 | €14,962 | -€1,483 | -9.0% |
| Profit (loss) for the period before taxes | 9903 | €42,798 | €95,075 | +€52,276 | +122.1% |
| Income taxes | 67/77 | - | €1,408 | +€1,408 | |
| Profit (loss) for the period | 9904 | €42,798 | €93,667 | +€50,868 | +118.9% |
| Profit (loss) for the period to be appropriated | 9905 | €42,798 | €93,667 | +€50,868 | +118.9% |
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 6 October 2026 via checked.be.