Vrinvest: 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.
Vrinvest
Largest movements
- Cash +€43,850
up €43,850 (+165%), from €26,521 to €70,372
mainly Net result for the year (+€40,120) and Depreciation (+€3,688)
- Tangible fixed assets -€3,688
down €3,688 (-25.7%), from €14,350 to €10,663
- Receivables within one year +€1,827
up €1,827 (+21.1%), from €8,651 to €10,478
of which Trade receivables: +€1,210
- Reserves +€39,287
up €39,287 (+113%), from €34,881 to €74,168
- Tax, wage and social debts +€2,110
up €2,110 (+35.1%), from €6,020 to €8,130
- Gross operating margin +€22,564
up €22,564 (+68.3%), from €33,055 to €55,619
- Taxes +€4,383
up €4,383 (+64.1%), from €6,835 to €11,218
- Depreciation +€1,877
up €1,877 (+104%), from €1,811 to €3,688
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 | €50,068 | €92,050 | +€41,982 | +83.8% |
| Fixed assets | 21/28 | €14,350 | €10,663 | -€3,688 | -25.7% |
| Tangible fixed assets | 22/27 | €14,350 | €10,663 | -€3,688 | -25.7% |
| Furniture and vehicles | 24 | €14,350 | €10,663 | -€3,688 | -25.7% |
| Current assets | 29/58 | €35,718 | €81,388 | +€45,670 | +128% |
| Amounts receivable within one year | 40/41 | €8,651 | €10,478 | +€1,827 | +21.1% |
| Trade receivables | 40 | €7,986 | €9,196 | +€1,210 | +15.2% |
| Other amounts receivable | 41 | €665 | €1,282 | +€617 | +92.8% |
| Cash at bank and in hand | 54/58 | €26,521 | €70,372 | +€43,850 | +165% |
| Deferred charges and accrued income | 490/1 | €546 | €538 | -€8 | -1.4% |
| Total equity and liabilities | 10/49 | €50,068 | €92,050 | +€41,982 | +83.8% |
| Equity | 10/15 | €39,881 | €79,168 | +€39,287 | +98.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €34,881 | €74,168 | +€39,287 | +113% |
| Distributable reserves | 133 | €34,881 | €74,168 | +€39,287 | +113% |
| Amounts payable | 17/49 | €10,187 | €12,882 | +€2,695 | +26.5% |
| Amounts payable within one year | 42/48 | €10,187 | €12,882 | +€2,695 | +26.5% |
| Trade debts | 44 | €51 | €62 | +€11 | +22.4% |
| Suppliers | 440/4 | €51 | €62 | +€11 | +22.4% |
| Taxes, remuneration and social security | 45 | €6,020 | €8,130 | +€2,110 | +35.1% |
| Taxes | 450/3 | €6,020 | €8,130 | +€2,110 | +35.1% |
| Other amounts payable | 47/48 | €4,117 | €4,690 | +€574 | +13.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,811 | €3,688 | +€1,877 | +104% |
| Other operating charges | 640/8 | €204 | €523 | +€319 | +157% |
| Gross operating margin | 9900 | €33,055 | €55,619 | +€22,564 | +68.3% |
| Operating profit (loss) | 9901 | €31,040 | €51,408 | +€20,368 | +65.6% |
| Financial charges | 65/66B | €69 | €70 | +€1 | +2.0% |
| Recurring financial charges | 65 | €69 | €70 | +€1 | +2.0% |
| Profit (loss) for the period before taxes | 9903 | €30,971 | €51,338 | +€20,367 | +65.8% |
| Income taxes | 67/77 | €6,835 | €11,218 | +€4,383 | +64.1% |
| Profit (loss) for the period | 9904 | €24,136 | €40,120 | +€15,984 | +66.2% |
| Profit (loss) for the period to be appropriated | 9905 | €24,136 | €40,120 | +€15,984 | +66.2% |
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 17 October 2026 via checked.be.