VRE MANAGEMENT: 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.
VRE MANAGEMENT
Largest movements
- Receivables within one year -€104,242
down €104,242 (-54.1%), from €192,838 to €88,596
- Cash +€26,320
up €26,320 (+1,069%), from €2,463 to €28,783
mainly Receivables within one year (+€104,242) and Receivables after one year (+€15,000)
- Receivables after one year -€15,000
no longer reported in 2025 (was €15,000)
- Other debts -€95,409
down €95,409 (-70.5%), from €135,409 to €40,000
- Financial income +€13,459
up €13,459 (+862%), from €1,562 to €15,021
- Gross operating margin +€3,333
up €3,333 (+19.5%), from -€17,084 to -€13,751
- Financial charges -€357
down €357 (-70.4%), from €507 to €150
- Depreciation -€330
down €330 (-21.3%), from €1,547 to €1,217
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.
Derived cash bridge
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 | €458,055 | €365,680 | -€92,374 | -20.2% |
| Fixed assets | 21/28 | €247,754 | €248,302 | +€547 | +0.2% |
| Tangible fixed assets | 22/27 | €2,485 | €3,033 | +€547 | +22.0% |
| Land and buildings | 22 | €1,178 | €982 | -€196 | -16.7% |
| Furniture and vehicles | 24 | €1,308 | €2,051 | +€744 | +56.9% |
| Financial fixed assets | 28 | €245,269 | €245,269 | = | 0.0% |
| Current assets | 29/58 | €210,300 | €117,379 | -€92,922 | -44.2% |
| Amounts receivable after more than one year | 29 | €15,000 | - | -€15,000 | |
| Trade receivables | 290 | €15,000 | - | -€15,000 | |
| Amounts receivable within one year | 40/41 | €192,838 | €88,596 | -€104,242 | -54.1% |
| Other amounts receivable | 41 | €192,838 | €88,596 | -€104,242 | -54.1% |
| Cash at bank and in hand | 54/58 | €2,463 | €28,783 | +€26,320 | +1,069% |
| Total equity and liabilities | 10/49 | €458,055 | €365,680 | -€92,374 | -20.2% |
| Equity | 10/15 | €319,078 | €318,837 | -€241 | -0.1% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €341,550 | €341,550 | = | 0.0% |
| Distributable reserves | 133 | €341,550 | €341,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€42,932 | -€43,173 | -€241 | -0.6% |
| Amounts payable | 17/49 | €138,977 | €46,843 | -€92,133 | -66.3% |
| Amounts payable within one year | 42/48 | €138,977 | €46,843 | -€92,133 | -66.3% |
| Trade debts | 44 | €3,567 | €6,843 | +€3,276 | +91.8% |
| Suppliers | 440/4 | €3,567 | €6,843 | +€3,276 | +91.8% |
| Other amounts payable | 47/48 | €135,409 | €40,000 | -€95,409 | -70.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,547 | €1,217 | -€330 | -21.3% |
| Other operating charges | 640/8 | €141 | €144 | +€4 | +2.6% |
| Gross operating margin | 9900 | -€17,084 | -€13,751 | +€3,333 | +19.5% |
| Operating profit (loss) | 9901 | -€18,772 | -€15,112 | +€3,660 | +19.5% |
| Financial income | 75/76B | €1,562 | €15,021 | +€13,459 | +862% |
| Recurring financial income | 75 | €1,562 | €15,021 | +€13,459 | +862% |
| Financial charges | 65/66B | €507 | €150 | -€357 | -70.4% |
| Recurring financial charges | 65 | €507 | €150 | -€357 | -70.4% |
| Profit (loss) for the period before taxes | 9903 | -€17,717 | -€241 | +€17,475 | +98.6% |
| Profit (loss) for the period | 9904 | -€17,717 | -€241 | +€17,475 | +98.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€17,717 | -€241 | +€17,475 | +98.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.