VRR Projects: what changed
Two fiscal 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.
VRR Projects
Largest movements
- Receivables within one year +€157,306
up €157,306 (+618.0%), from €25,453 to €182,759
of which Trade receivables: +€140,675
- Cash -€10,777
down €10,777 (-53.4%), from €20,165 to €9,388
mainly Receivables within one year (-€157,306) and Deferred charges and accrued income (-€4,435)
- Deferred charges and accrued income +€4,435
up €4,435 (+732.4%), from €606 to €5,040
- Trade debts +€116,769
up €116,769 (+1108.8%), from €10,532 to €127,301
- Reserves +€31,984
up €31,984 (+154.3%), from €20,730 to €52,713
- Tax, wage and social debts +€2,970
up €2,970 (+21.3%), from €13,915 to €16,886
of which Taxes: +€5,370
- Gross operating margin +€14,514
up €14,514 (+51.1%), from €28,376 to €42,889
- Taxes +€2,270
up €2,270 (+31.1%), from €7,298 to €9,568
- Depreciation +€863
up €863 (+6839.1%), from €13 to €876
- Financial income +€641
up €641 (+5106.7%), from €13 to €654
- Other operating charges +€624
up €624 (+179.7%), from €348 to €972
From the 2022 result to the 2023 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.
Cash bridge derived
Derived from the 2022 and 2023 balance sheets and the 2023 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2022 | 2023 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €48,177 | €199,900 | +€151,723 | +314.9% |
| Fixed assets | 21/28 | €1,929 | €2,713 | +€784 | +40.7% |
| Tangible fixed assets | 22/27 | €1,929 | €2,713 | +€784 | +40.7% |
| Plant, machinery and equipment | 23 | €1,929 | €2,713 | +€784 | +40.7% |
| Current assets | 29/58 | €46,248 | €197,187 | +€150,939 | +326.4% |
| Stocks and contracts in progress | 3 | €25 | - | -€25 | |
| Stocks | 30/36 | €25 | - | -€25 | |
| Amounts receivable within one year | 40/41 | €25,453 | €182,759 | +€157,306 | +618.0% |
| Trade receivables | 40 | €22,306 | €162,981 | +€140,675 | +630.7% |
| Other amounts receivable | 41 | €3,147 | €19,778 | +€16,631 | +528.5% |
| Cash at bank and in hand | 54/58 | €20,165 | €9,388 | -€10,777 | -53.4% |
| Deferred charges and accrued income | 490/1 | €606 | €5,040 | +€4,435 | +732.4% |
| Total equity and liabilities | 10/49 | €48,177 | €199,900 | +€151,723 | +314.9% |
| Equity | 10/15 | €23,730 | €55,713 | +€31,984 | +134.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €20,730 | €52,713 | +€31,984 | +154.3% |
| Distributable reserves | 133 | €20,730 | €52,713 | +€31,984 | +154.3% |
| Amounts payable | 17/49 | €24,447 | €144,187 | +€119,740 | +489.8% |
| Amounts payable within one year | 42/48 | €24,447 | €144,187 | +€119,740 | +489.8% |
| Trade debts | 44 | €10,532 | €127,301 | +€116,769 | +1108.8% |
| Suppliers | 440/4 | €10,532 | €127,301 | +€116,769 | +1108.8% |
| Taxes, remuneration and social security | 45 | €13,915 | €16,886 | +€2,970 | +21.3% |
| Taxes | 450/3 | €11,515 | €16,886 | +€5,370 | +46.6% |
| Remuneration and social security | 454/9 | €2,400 | - | -€2,400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13 | €876 | +€863 | +6839.1% |
| Other operating charges | 640/8 | €348 | €972 | +€624 | +179.7% |
| Gross operating margin | 9900 | €28,376 | €42,889 | +€14,514 | +51.1% |
| Operating profit (loss) | 9901 | €28,016 | €41,042 | +€13,026 | +46.5% |
| Financial income | 75/76B | €13 | €654 | +€641 | +5106.7% |
| Recurring financial income | 75 | €13 | €654 | +€641 | +5106.7% |
| Financial charges | 65/66B | - | €144 | +€144 | |
| Recurring financial charges | 65 | - | €144 | +€144 | |
| Profit (loss) for the period before taxes | 9903 | €28,028 | €41,552 | +€13,524 | +48.3% |
| Income taxes | 67/77 | €7,298 | €9,568 | +€2,270 | +31.1% |
| Profit (loss) for the period | 9904 | €20,730 | €31,984 | +€11,254 | +54.3% |
| Profit (loss) for the period to be appropriated | 9905 | €20,730 | €31,984 | +€11,254 | +54.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2022 and 31 December 2023. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.