VRIENS: 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.
VRIENS
Largest movements
- Tangible fixed assets +€194,617
up €194,617 (+18.7%), from €1.0m to €1.2m
of which Furniture and vehicles: +€167,935
- Stocks and contracts +€160,878
up €160,878 (+12.4%), from €1.3m to €1.5m
- Receivables within one year +€114,681
up €114,681 (+101%), from €114,068 to €228,749
of which Trade receivables: +€114,565
- Cash -€90,031
down €90,031 (-38.0%), from €237,028 to €146,998
mainly Investment in fixed assets (net) (-€335,183) and Stocks and contracts (-€160,878)
- Reserves +€356,806
up €356,806 (+25.0%), from €1.4m to €1.8m
- Short-term financial debts +€80,200
new in 2025: €80,200
- Debts after one year -€72,069
down €72,069 (-15.9%), from €453,552 to €381,482
- Trade debts +€44,572
up €44,572 (+78.9%), from €56,521 to €101,094
- Gross operating margin +€108,801
up €108,801 (+16.7%), from €649,822 to €758,622
- Staff costs +€67,017
up €67,017 (+170%), from €39,510 to €106,527
- Depreciation +€36,029
up €36,029 (+34.5%), from €104,537 to €140,566
- Other operating charges +€11,875
up €11,875 (+80.3%), from €14,789 to €26,664
- Taxes -€8,731
down €8,731 (-7.1%), from €123,697 to €114,967
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 | €2,701,332 | €3,085,285 | +€383,953 | +14.2% |
| Fixed assets | 21/28 | €1,043,171 | €1,237,788 | +€194,617 | +18.7% |
| Tangible fixed assets | 22/27 | €1,042,171 | €1,236,788 | +€194,617 | +18.7% |
| Land and buildings | 22 | €774,521 | €792,423 | +€17,902 | +2.3% |
| Plant, machinery and equipment | 23 | €102,801 | €111,581 | +€8,780 | +8.5% |
| Furniture and vehicles | 24 | €164,849 | €332,784 | +€167,935 | +102% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €1,658,161 | €1,847,497 | +€189,335 | +11.4% |
| Stocks and contracts in progress | 3 | €1,295,900 | €1,456,778 | +€160,878 | +12.4% |
| Stocks | 30/36 | €1,295,900 | €1,456,778 | +€160,878 | +12.4% |
| Amounts receivable within one year | 40/41 | €114,068 | €228,749 | +€114,681 | +101% |
| Trade receivables | 40 | €113,843 | €228,408 | +€114,565 | +101% |
| Other amounts receivable | 41 | €225 | €341 | +€116 | +51.6% |
| Cash at bank and in hand | 54/58 | €237,028 | €146,998 | -€90,031 | -38.0% |
| Deferred charges and accrued income | 490/1 | €11,166 | €14,972 | +€3,807 | +34.1% |
| Total equity and liabilities | 10/49 | €2,701,332 | €3,085,285 | +€383,953 | +14.2% |
| Equity | 10/15 | €1,893,558 | €2,250,364 | +€356,806 | +18.8% |
| Contributions | 10/11 | €468,600 | €468,600 | = | 0.0% |
| Reserves | 13 | €1,424,958 | €1,781,764 | +€356,806 | +25.0% |
| Distributable reserves | 133 | €1,424,958 | €1,781,764 | +€356,806 | +25.0% |
| Amounts payable | 17/49 | €807,774 | €834,920 | +€27,147 | +3.4% |
| Amounts payable after more than one year | 17 | €453,552 | €381,482 | -€72,069 | -15.9% |
| Financial debts | 170/4 | €453,552 | €381,482 | -€72,069 | -15.9% |
| Amounts payable within one year | 42/48 | €354,222 | €453,438 | +€99,216 | +28.0% |
| Current portion of amounts payable after more than one year | 42 | €69,691 | €72,069 | +€2,378 | +3.4% |
| Financial debts | 43 | - | €80,200 | +€80,200 | |
| Credit institutions | 430/8 | - | €80,200 | +€80,200 | |
| Trade debts | 44 | €56,521 | €101,094 | +€44,572 | +78.9% |
| Suppliers | 440/4 | €56,521 | €101,094 | +€44,572 | +78.9% |
| Taxes, remuneration and social security | 45 | €134,811 | €109,960 | -€24,851 | -18.4% |
| Taxes | 450/3 | €129,568 | €96,122 | -€33,446 | -25.8% |
| Remuneration and social security | 454/9 | €5,243 | €13,838 | +€8,595 | +164% |
| Other amounts payable | 47/48 | €93,199 | €90,115 | -€3,083 | -3.3% |
| Non-recurring operating income | 76A | €16,290 | €34,085 | +€17,795 | +109% |
| Remuneration, social security and pensions | 62 | €39,510 | €106,527 | +€67,017 | +170% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €104,537 | €140,566 | +€36,029 | +34.5% |
| Other operating charges | 640/8 | €14,789 | €26,664 | +€11,875 | +80.3% |
| Gross operating margin | 9900 | €649,822 | €758,622 | +€108,801 | +16.7% |
| Operating profit (loss) | 9901 | €490,985 | €484,865 | -€6,120 | -1.2% |
| Financial income | 75/76B | €1,688 | €3,497 | +€1,808 | +107% |
| Recurring financial income | 75 | €1,688 | €3,497 | +€1,808 | +107% |
| Financial charges | 65/66B | €21,585 | €16,589 | -€4,996 | -23.1% |
| Recurring financial charges | 65 | €21,585 | €16,589 | -€4,996 | -23.1% |
| Profit (loss) for the period before taxes | 9903 | €471,088 | €471,772 | +€685 | +0.1% |
| Income taxes | 67/77 | €123,697 | €114,967 | -€8,731 | -7.1% |
| Profit (loss) for the period | 9904 | €347,390 | €356,806 | +€9,415 | +2.7% |
| Profit (loss) for the period to be appropriated | 9905 | €347,390 | €356,806 | +€9,415 | +2.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.