VRG: 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.
VRG
Largest movements
- Receivables within one year +€51,049
up €51,049 (+70.7%), from €72,192 to €123,241
of which Other amounts receivable: +€64,797
- Trade debts +€82,089
up €82,089 (+10,977%), from €748 to €82,837
- Other debts -€52,750
down €52,750 (-57.6%), from €91,644 to €38,895
- Gross operating margin -€35,142
down €35,142 (-27.7%), from €126,644 to €91,501
- Staff costs +€15,360
up €15,360 (+37.0%), from €41,504 to €56,864
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 | €1,292,421 | €1,335,119 | +€42,698 | +3.3% |
| Fixed assets | 21/28 | €1,195,200 | €1,195,200 | = | 0.0% |
| Financial fixed assets | 28 | €1,195,200 | €1,195,200 | = | 0.0% |
| Current assets | 29/58 | €97,221 | €139,919 | +€42,698 | +43.9% |
| Amounts receivable within one year | 40/41 | €72,192 | €123,241 | +€51,049 | +70.7% |
| Trade receivables | 40 | €14,901 | €1,153 | -€13,748 | -92.3% |
| Other amounts receivable | 41 | €57,291 | €122,088 | +€64,797 | +113% |
| Cash at bank and in hand | 54/58 | €25,029 | €16,678 | -€8,351 | -33.4% |
| Total equity and liabilities | 10/49 | €1,292,421 | €1,335,119 | +€42,698 | +3.3% |
| Equity | 10/15 | €1,190,639 | €1,191,711 | +€1,072 | +0.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,172,039 | €1,173,111 | +€1,072 | +0.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,170,179 | €1,171,251 | +€1,072 | +0.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €101,782 | €143,408 | +€41,626 | +40.9% |
| Amounts payable after more than one year | 17 | - | €5,077 | +€5,077 | |
| Financial debts | 170/4 | - | €5,077 | +€5,077 | |
| Amounts payable within one year | 42/48 | €101,782 | €138,331 | +€36,549 | +35.9% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €748 | €82,837 | +€82,089 | +10,977% |
| Suppliers | 440/4 | €748 | €82,837 | +€82,089 | +10,977% |
| Taxes, remuneration and social security | 45 | €9,390 | €16,599 | +€7,210 | +76.8% |
| Taxes | 450/3 | €1,613 | €6,083 | +€4,471 | +277% |
| Remuneration and social security | 454/9 | €7,777 | €10,516 | +€2,739 | +35.2% |
| Other amounts payable | 47/48 | €91,644 | €38,895 | -€52,750 | -57.6% |
| Remuneration, social security and pensions | 62 | €41,504 | €56,864 | +€15,360 | +37.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €2,491 | €2,190 | -€301 | -12.1% |
| Gross operating margin | 9900 | €126,644 | €91,501 | -€35,142 | -27.7% |
| Operating profit (loss) | 9901 | €82,649 | €32,447 | -€50,202 | -60.7% |
| Financial income | 75/76B | €51 | €142 | +€91 | +180% |
| Recurring financial income | 75 | €51 | €142 | +€91 | +180% |
| Financial charges | 65/66B | €38 | €0 | -€38 | -100% |
| Recurring financial charges | 65 | €38 | €0 | -€38 | -100% |
| Profit (loss) for the period before taxes | 9903 | €82,662 | €32,589 | -€50,073 | -60.6% |
| Income taxes | 67/77 | €1,583 | €1,517 | -€66 | -4.2% |
| Profit (loss) for the period | 9904 | €81,079 | €31,072 | -€50,007 | -61.7% |
| Profit (loss) for the period to be appropriated | 9905 | €81,079 | €31,072 | -€50,007 | -61.7% |
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 16 October 2026 via checked.be.