VROWORX: 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.
VROWORX
Largest movements
- Cash +€60,752
up €60,752 (+123%), from €49,584 to €110,336
mainly Receivables within one year (+€60,048) and Depreciation (+€57,879)
- Receivables within one year -€60,048
down €60,048 (-82.3%), from €72,958 to €12,911
of which Trade receivables: -€56,849
- Tangible fixed assets +€22,403
up €22,403 (+14.2%), from €157,570 to €179,973
of which Leasing and similar rights: +€47,857
- Debts after one year +€22,066
up €22,066 (+70.0%), from €31,500 to €53,566
- Other debts +€14,156
up €14,156 (+58.6%), from €24,158 to €38,314
- Trade debts -€7,879
down €7,879 (-52.3%), from €15,078 to €7,200
- Current portion of long-term debt +€6,452
up €6,452 (+34.2%), from €18,846 to €25,298
- Reserves -€6,133
down €6,133 (-3.6%), from €168,839 to €162,707
of which Tax-exempt reserves: -€3,975
- Gross operating margin -€10,102
down €10,102 (-9.4%), from €107,713 to €97,611
- Depreciation -€5,738
down €5,738 (-9.0%), from €63,616 to €57,879
- Other operating charges -€1,776
down €1,776 (-22.8%), from €7,789 to €6,013
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 | €288,615 | €312,933 | +€24,318 | +8.4% |
| Fixed assets | 21/28 | €157,705 | €180,108 | +€22,403 | +14.2% |
| Tangible fixed assets | 22/27 | €157,570 | €179,973 | +€22,403 | +14.2% |
| Land and buildings | 22 | €21,253 | €17,721 | -€3,531 | -16.6% |
| Plant, machinery and equipment | 23 | €135,952 | €93,444 | -€42,508 | -31.3% |
| Furniture and vehicles | 24 | €365 | €20,950 | +€20,585 | +5,636% |
| Leasing and similar rights | 25 | - | €47,857 | +€47,857 | |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €130,911 | €132,825 | +€1,915 | +1.5% |
| Stocks and contracts in progress | 3 | €8,000 | €8,000 | = | 0.0% |
| Stocks | 30/36 | €8,000 | €8,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €72,958 | €12,911 | -€60,048 | -82.3% |
| Trade receivables | 40 | €66,473 | €9,624 | -€56,849 | -85.5% |
| Other amounts receivable | 41 | €6,485 | €3,287 | -€3,199 | -49.3% |
| Cash at bank and in hand | 54/58 | €49,584 | €110,336 | +€60,752 | +123% |
| Deferred charges and accrued income | 490/1 | €368 | €1,579 | +€1,211 | +329% |
| Total equity and liabilities | 10/49 | €288,615 | €312,933 | +€24,318 | +8.4% |
| Equity | 10/15 | €185,926 | €179,794 | -€6,133 | -3.3% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €168,839 | €162,707 | -€6,133 | -3.6% |
| Tax-exempt reserves | 132 | €7,950 | €3,975 | -€3,975 | -50.0% |
| Distributable reserves | 133 | €160,889 | €158,732 | -€2,158 | -1.3% |
| Profit (loss) carried forward | 14 | -€1,463 | -€1,463 | = | 0.0% |
| Provisions and deferred taxes | 16 | €2,650 | €1,325 | -€1,325 | -50.0% |
| Deferred taxes | 168 | €2,650 | €1,325 | -€1,325 | -50.0% |
| Amounts payable | 17/49 | €100,039 | €131,814 | +€31,775 | +31.8% |
| Amounts payable after more than one year | 17 | €31,500 | €53,566 | +€22,066 | +70.0% |
| Financial debts | 170/4 | €31,500 | €53,566 | +€22,066 | +70.0% |
| Amounts payable within one year | 42/48 | €68,539 | €78,248 | +€9,710 | +14.2% |
| Current portion of amounts payable after more than one year | 42 | €18,846 | €25,298 | +€6,452 | +34.2% |
| Financial debts | 43 | €4,167 | €4,167 | = | 0.0% |
| Credit institutions | 430/8 | €4,167 | €4,167 | = | 0.0% |
| Trade debts | 44 | €15,078 | €7,200 | -€7,879 | -52.3% |
| Suppliers | 440/4 | €15,078 | €7,200 | -€7,879 | -52.3% |
| Taxes, remuneration and social security | 45 | €6,291 | €3,271 | -€3,020 | -48.0% |
| Taxes | 450/3 | €2,696 | €1,049 | -€1,646 | -61.1% |
| Remuneration and social security | 454/9 | €3,595 | €2,222 | -€1,373 | -38.2% |
| Other amounts payable | 47/48 | €24,158 | €38,314 | +€14,156 | +58.6% |
| Non-recurring operating income | 76A | €17,000 | - | -€17,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,616 | €57,879 | -€5,738 | -9.0% |
| Other operating charges | 640/8 | €7,789 | €6,013 | -€1,776 | -22.8% |
| Gross operating margin | 9900 | €107,713 | €97,611 | -€10,102 | -9.4% |
| Operating profit (loss) | 9901 | €36,307 | €33,718 | -€2,589 | -7.1% |
| Financial income | 75/76B | €1,050 | €1,215 | +€165 | +15.7% |
| Recurring financial income | 75 | €1,050 | €1,215 | +€165 | +15.7% |
| Financial charges | 65/66B | €3,507 | €2,989 | -€518 | -14.8% |
| Recurring financial charges | 65 | €3,507 | €2,989 | -€518 | -14.8% |
| Profit (loss) for the period before taxes | 9903 | €33,850 | €31,944 | -€1,906 | -5.6% |
| Transfer from deferred taxes | 780 | €1,325 | €1,325 | = | 0.0% |
| Income taxes | 67/77 | €13,859 | €13,082 | -€777 | -5.6% |
| Profit (loss) for the period | 9904 | €21,316 | €20,187 | -€1,129 | -5.3% |
| Transfer from tax-exempt reserves | 789 | €3,975 | €3,975 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €25,291 | €24,162 | -€1,129 | -4.5% |
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 23 October 2026 via checked.be.