VRF Belgique: 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.
VRF Belgique
Largest movements
- Cash -€99,433
down €99,433 (-86.8%), from €114,612 to €15,179
mainly Debts after one year (-€42,965) and Other debts (-€37,035)
- Debts after one year -€42,965
down €42,965 (-30.7%), from €140,000 to €97,035
- Other debts -€37,035
down €37,035 (-100%), from €37,035 to €0
- Tax, wage and social debts -€14,038
down €14,038 (-100%), from €14,038 to €0
- Trade debts -€2,937
down €2,937 (-100%), from €2,937 to €0
- Profit (loss) carried forward -€1,922
down €1,922 (-2.0%), from -€97,998 to -€99,921
- Gross operating margin -€65,315
down €65,315, from €63,980 to -€1,335
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 | €114,612 | €15,715 | -€98,897 | -86.3% |
| Current assets | 29/58 | €114,612 | €15,715 | -€98,897 | -86.3% |
| Amounts receivable within one year | 40/41 | - | €536 | +€536 | |
| Other amounts receivable | 41 | - | €536 | +€536 | |
| Cash at bank and in hand | 54/58 | €114,612 | €15,179 | -€99,433 | -86.8% |
| Total equity and liabilities | 10/49 | €114,612 | €15,715 | -€98,897 | -86.3% |
| Equity | 10/15 | -€79,398 | -€81,321 | -€1,922 | -2.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€97,998 | -€99,921 | -€1,922 | -2.0% |
| Amounts payable | 17/49 | €194,010 | €97,035 | -€96,975 | -50.0% |
| Amounts payable after more than one year | 17 | €140,000 | €97,035 | -€42,965 | -30.7% |
| Other amounts payable | 178/9 | €140,000 | €97,035 | -€42,965 | -30.7% |
| Amounts payable within one year | 42/48 | €54,010 | €0 | -€54,010 | -100% |
| Trade debts | 44 | €2,937 | €0 | -€2,937 | -100% |
| Suppliers | 440/4 | €2,937 | €0 | -€2,937 | -100% |
| Taxes, remuneration and social security | 45 | €14,038 | €0 | -€14,038 | -100% |
| Taxes | 450/3 | €14,038 | €0 | -€14,038 | -100% |
| Other amounts payable | 47/48 | €37,035 | €0 | -€37,035 | -100% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €63,980 | -€1,335 | -€65,315 | |
| Operating profit (loss) | 9901 | €63,593 | -€1,734 | -€65,327 | |
| Financial charges | 65/66B | €73 | €188 | +€116 | +160% |
| Recurring financial charges | 65 | €73 | €188 | +€116 | +160% |
| Profit (loss) for the period before taxes | 9903 | €63,520 | -€1,922 | -€65,443 | |
| Income taxes | 67/77 | €61 | €0 | -€61 | -100% |
| Profit (loss) for the period | 9904 | €63,459 | -€1,922 | -€65,382 | |
| Profit (loss) for the period to be appropriated | 9905 | €63,459 | -€1,922 | -€65,382 |
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 25 October 2026 via checked.be.