"VTB": 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.
"VTB"
Largest movements
- Stocks and contracts -€82,834
down €82,834 (-80.4%), from €103,038 to €20,204
- Receivables within one year +€8,334
up €8,334 (+10.6%), from €78,900 to €87,234
of which Other amounts receivable: +€18,885
- Cash +€4,813
up €4,813 (+366.4%), from €1,314 to €6,126
mainly Stocks and contracts (+€82,834) and Trade debts (+€8,301)
- Accrued charges and deferred income -€54,400
no longer reported in 2025 (was €54,400)
- Other debts -€24,999
down €24,999 (-27.0%), from €92,555 to €67,556
- Trade debts +€8,301
up €8,301 (+23.3%), from €35,613 to €43,914
- Gross operating margin -€10,896
down €10,896 (-74.0%), from €14,717 to €3,821
- Staff costs -€8,202
down €8,202 (-98.0%), from €8,372 to €170
- Other operating charges +€735
up €735 (+39.2%), from €1,876 to €2,611
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.
Cash bridge derived
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 | €187,399 | €116,549 | -€70,849 | -37.8% |
| Fixed assets | 21/28 | €2,009 | €1,360 | -€649 | -32.3% |
| Tangible fixed assets | 22/27 | €1,869 | €1,220 | -€649 | -34.7% |
| Furniture and vehicles | 24 | €640 | €136 | -€504 | -78.7% |
| Other tangible fixed assets | 26 | €1,228 | €1,083 | -€145 | -11.8% |
| Financial fixed assets | 28 | €140 | €140 | = | 0.0% |
| Current assets | 29/58 | €185,390 | €115,190 | -€70,200 | -37.9% |
| Stocks and contracts in progress | 3 | €103,038 | €20,204 | -€82,834 | -80.4% |
| Stocks | 30/36 | €103,038 | €20,204 | -€82,834 | -80.4% |
| Amounts receivable within one year | 40/41 | €78,900 | €87,234 | +€8,334 | +10.6% |
| Trade receivables | 40 | €75,750 | €65,200 | -€10,550 | -13.9% |
| Other amounts receivable | 41 | €3,150 | €22,034 | +€18,885 | +599.6% |
| Cash at bank and in hand | 54/58 | €1,314 | €6,126 | +€4,813 | +366.4% |
| Deferred charges and accrued income | 490/1 | €2,139 | €1,626 | -€513 | -24.0% |
| Total equity and liabilities | 10/49 | €187,399 | €116,549 | -€70,849 | -37.8% |
| Equity | 10/15 | €4,830 | €5,079 | +€248 | +5.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€15,170 | -€14,921 | +€248 | +1.6% |
| Amounts payable | 17/49 | €182,568 | €111,470 | -€71,098 | -38.9% |
| Amounts payable within one year | 42/48 | €128,168 | €111,470 | -€16,698 | -13.0% |
| Trade debts | 44 | €35,613 | €43,914 | +€8,301 | +23.3% |
| Suppliers | 440/4 | €35,613 | €43,914 | +€8,301 | +23.3% |
| Other amounts payable | 47/48 | €92,555 | €67,556 | -€24,999 | -27.0% |
| Accrued charges and deferred income | 492/3 | €54,400 | - | -€54,400 | |
| Remuneration, social security and pensions | 62 | €8,372 | €170 | -€8,202 | -98.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €727 | €649 | -€77 | -10.7% |
| Other operating charges | 640/8 | €1,876 | €2,611 | +€735 | +39.2% |
| Gross operating margin | 9900 | €14,717 | €3,821 | -€10,896 | -74.0% |
| Operating profit (loss) | 9901 | €3,743 | €391 | -€3,352 | -89.6% |
| Financial income | 75/76B | €1 | €1 | -€0 | -25.6% |
| Recurring financial income | 75 | €1 | €1 | -€0 | -25.6% |
| Financial charges | 65/66B | €175 | €144 | -€32 | -18.2% |
| Recurring financial charges | 65 | €175 | €144 | -€32 | -18.2% |
| Profit (loss) for the period before taxes | 9903 | €3,569 | €248 | -€3,320 | -93.0% |
| Profit (loss) for the period | 9904 | €3,569 | €248 | -€3,320 | -93.0% |
| Profit (loss) for the period to be appropriated | 9905 | €3,569 | €248 | -€3,320 | -93.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.