VT Management: 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.
VT Management
Largest movements
- Receivables after one year +€1.6m
up €1.6m (+318.0%), from €499,582 to €2.1m
- Tangible fixed assets +€1.0m
up €1.0m (+57.5%), from €1.8m to €2.8m
of which Land and buildings: +€1.0m
- Receivables within one year -€990,827
down €990,827 (-47.4%), from €2.1m to €1.1m
of which Other amounts receivable: -€952,302
- Reserves +€1.0m
up €1.0m (+32.6%), from €3.1m to €4.1m
of which Distributable reserves: +€1.0m
- Debts after one year +€587,521
up €587,521 (+50.9%), from €1.2m to €1.7m
- Financial income -€338,365
down €338,365 (-23.2%), from €1.5m to €1.1m
- Financial charges +€27,505
up €27,505 (+75.8%), from €36,272 to €63,778
- Depreciation +€22,896
up €22,896 (+21.6%), from €106,172 to €129,069
- Staff costs +€15,965
new in 2024: €15,965
- Taxes +€10,526
up €10,526 (+17.5%), from €60,167 to €70,693
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,544,524 | €6,166,560 | +€1.6m | +35.7% |
| Fixed assets | 21/28 | €1,762,213 | €2,770,745 | +€1.0m | +57.2% |
| Tangible fixed assets | 22/27 | €1,752,938 | €2,761,470 | +€1.0m | +57.5% |
| Land and buildings | 22 | €1,542,101 | €2,567,432 | +€1.0m | +66.5% |
| Plant, machinery and equipment | 23 | €9,914 | €11,802 | +€1,887 | +19.0% |
| Furniture and vehicles | 24 | €183,844 | €169,279 | -€14,565 | -7.9% |
| Other tangible fixed assets | 26 | €17,079 | €12,957 | -€4,122 | -24.1% |
| Financial fixed assets | 28 | €9,275 | €9,275 | = | 0.0% |
| Current assets | 29/58 | €2,782,311 | €3,395,815 | +€613,503 | +22.1% |
| Amounts receivable after more than one year | 29 | €499,582 | €2,088,464 | +€1.6m | +318.0% |
| Other amounts receivable | 291 | €499,582 | €2,088,464 | +€1.6m | +318.0% |
| Amounts receivable within one year | 40/41 | €2,090,124 | €1,099,297 | -€990,827 | -47.4% |
| Trade receivables | 40 | €105,430 | €66,905 | -€38,525 | -36.5% |
| Other amounts receivable | 41 | €1,984,694 | €1,032,392 | -€952,302 | -48.0% |
| Cash at bank and in hand | 54/58 | €189,374 | €177,028 | -€12,346 | -6.5% |
| Deferred charges and accrued income | 490/1 | €3,231 | €31,025 | +€27,794 | +860.2% |
| Total equity and liabilities | 10/49 | €4,544,524 | €6,166,560 | +€1.6m | +35.7% |
| Equity | 10/15 | €3,100,137 | €4,106,050 | +€1.0m | +32.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €3,081,545 | €4,087,458 | +€1.0m | +32.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €3,081,545 | €4,087,458 | +€1.0m | +32.6% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €1,444,387 | €2,060,510 | +€616,123 | +42.7% |
| Amounts payable after more than one year | 17 | €1,155,117 | €1,742,638 | +€587,521 | +50.9% |
| Financial debts | 170/4 | €1,155,117 | €1,742,638 | +€587,521 | +50.9% |
| Amounts payable within one year | 42/48 | €289,270 | €317,872 | +€28,601 | +9.9% |
| Current portion of amounts payable after more than one year | 42 | €188,967 | €249,606 | +€60,638 | +32.1% |
| Trade debts | 44 | €65,032 | €35,903 | -€29,130 | -44.8% |
| Suppliers | 440/4 | €65,032 | €35,903 | -€29,130 | -44.8% |
| Taxes, remuneration and social security | 45 | €28,959 | €26,104 | -€2,856 | -9.9% |
| Taxes | 450/3 | €28,959 | €25,000 | -€3,959 | -13.7% |
| Remuneration and social security | 454/9 | - | €1,104 | +€1,104 | |
| Other amounts payable | 47/48 | €6,311 | €6,259 | -€52 | -0.8% |
| Non-recurring operating income | 76A | €36,981 | €0 | -€36,981 | -100.0% |
| Remuneration, social security and pensions | 62 | - | €15,965 | +€15,965 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €106,172 | €129,069 | +€22,896 | +21.6% |
| Other operating charges | 640/8 | €10,108 | €15,841 | +€5,733 | +56.7% |
| Gross operating margin | 9900 | €187,847 | €179,111 | -€8,736 | -4.7% |
| Operating profit (loss) | 9901 | €71,568 | €18,236 | -€53,332 | -74.5% |
| Financial income | 75/76B | €1,460,512 | €1,122,147 | -€338,365 | -23.2% |
| Recurring financial income | 75 | €1,460,512 | €1,122,147 | -€338,365 | -23.2% |
| Financial charges | 65/66B | €36,272 | €63,778 | +€27,505 | +75.8% |
| Recurring financial charges | 65 | €36,272 | €63,778 | +€27,505 | +75.8% |
| Profit (loss) for the period before taxes | 9903 | €1,495,807 | €1,076,605 | -€419,202 | -28.0% |
| Income taxes | 67/77 | €60,167 | €70,693 | +€10,526 | +17.5% |
| Profit (loss) for the period | 9904 | €1,435,640 | €1,005,913 | -€429,728 | -29.9% |
| Profit (loss) for the period to be appropriated | 9905 | €1,435,640 | €1,005,913 | -€429,728 | -29.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.