VTB-PRO: 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-PRO
Largest movements
- Tangible fixed assets +€1.0m
up €1.0m (+268.2%), from €390,003 to €1.4m
of which Land and buildings: +€1.1m
- Cash -€35,245
down €35,245 (-78.3%), from €44,987 to €9,743
mainly Investment in fixed assets (net) (-€1.1m) and Smaller working-capital items (-€1,882)
- Debts after one year +€856,148
up €856,148 (+424.0%), from €201,909 to €1.1m
- Current portion of long-term debt +€48,447
up €48,447 (+128.5%), from €37,700 to €86,147
- Other debts +€43,908
up €43,908 (+139.6%), from €31,442 to €75,350
- Trade debts +€42,338
up €42,338 (+333.2%), from €12,705 to €55,042
- Gross operating margin -€40,592
down €40,592 (-15.7%), from €258,279 to €217,688
- Financial charges +€24,042
up €24,042 (+246.8%), from €9,741 to €33,782
- Depreciation +€18,568
up €18,568 (+66.7%), from €27,844 to €46,412
- Taxes -€18,433
down €18,433 (-74.6%), from €24,720 to €6,287
- Staff costs -€9,547
down €9,547 (-7.8%), from €121,773 to €112,226
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 | €462,172 | €1,474,676 | +€1.0m | +219.1% |
| Fixed assets | 21/28 | €390,281 | €1,436,148 | +€1.0m | +268.0% |
| Tangible fixed assets | 22/27 | €390,003 | €1,435,870 | +€1.0m | +268.2% |
| Land and buildings | 22 | €318,083 | €1,373,099 | +€1.1m | +331.7% |
| Plant, machinery and equipment | 23 | €14,175 | €19,117 | +€4,942 | +34.9% |
| Furniture and vehicles | 24 | €57,745 | €43,653 | -€14,091 | -24.4% |
| Financial fixed assets | 28 | €278 | €278 | = | 0.0% |
| Current assets | 29/58 | €71,891 | €38,528 | -€33,363 | -46.4% |
| Stocks and contracts in progress | 3 | €22,812 | €22,102 | -€710 | -3.1% |
| Stocks | 30/36 | €22,812 | €22,102 | -€710 | -3.1% |
| Amounts receivable within one year | 40/41 | €3,883 | €5,801 | +€1,917 | +49.4% |
| Trade receivables | 40 | €3,883 | €5,801 | +€1,917 | +49.4% |
| Cash at bank and in hand | 54/58 | €44,987 | €9,743 | -€35,245 | -78.3% |
| Deferred charges and accrued income | 490/1 | €208 | €883 | +€675 | +324.4% |
| Total equity and liabilities | 10/49 | €462,172 | €1,474,676 | +€1.0m | +219.1% |
| Equity | 10/15 | €139,864 | €152,932 | +€13,068 | +9.3% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €90,987 | €104,055 | +€13,068 | +14.4% |
| Distributable reserves | 133 | €90,987 | €104,055 | +€13,068 | +14.4% |
| Profit (loss) carried forward | 14 | €47,877 | €47,877 | = | 0.0% |
| Amounts payable | 17/49 | €322,308 | €1,321,744 | +€999,436 | +310.1% |
| Amounts payable after more than one year | 17 | €201,909 | €1,058,057 | +€856,148 | +424.0% |
| Financial debts | 170/4 | €201,909 | €1,058,057 | +€856,148 | +424.0% |
| Amounts payable within one year | 42/48 | €120,400 | €263,687 | +€143,288 | +119.0% |
| Current portion of amounts payable after more than one year | 42 | €37,700 | €86,147 | +€48,447 | +128.5% |
| Trade debts | 44 | €12,705 | €55,042 | +€42,338 | +333.2% |
| Suppliers | 440/4 | €12,705 | €55,042 | +€42,338 | +333.2% |
| Taxes, remuneration and social security | 45 | €38,553 | €47,148 | +€8,595 | +22.3% |
| Taxes | 450/3 | €23,146 | €33,635 | +€10,490 | +45.3% |
| Remuneration and social security | 454/9 | €15,407 | €13,512 | -€1,894 | -12.3% |
| Other amounts payable | 47/48 | €31,442 | €75,350 | +€43,908 | +139.6% |
| Remuneration, social security and pensions | 62 | €121,773 | €112,226 | -€9,547 | -7.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,844 | €46,412 | +€18,568 | +66.7% |
| Other operating charges | 640/8 | €3,225 | €5,968 | +€2,743 | +85.1% |
| Non-recurring operating charges | 66A | €11,050 | - | -€11,050 | |
| Gross operating margin | 9900 | €258,279 | €217,688 | -€40,592 | -15.7% |
| Operating profit (loss) | 9901 | €94,388 | €53,082 | -€41,306 | -43.8% |
| Financial income | 75/76B | €52 | €56 | +€4 | +7.3% |
| Recurring financial income | 75 | €52 | €56 | +€4 | +7.3% |
| Financial charges | 65/66B | €9,741 | €33,782 | +€24,042 | +246.8% |
| Recurring financial charges | 65 | €9,741 | €33,782 | +€24,042 | +246.8% |
| Profit (loss) for the period before taxes | 9903 | €84,699 | €19,355 | -€65,344 | -77.1% |
| Income taxes | 67/77 | €24,720 | €6,287 | -€18,433 | -74.6% |
| Profit (loss) for the period | 9904 | €59,979 | €13,068 | -€46,911 | -78.2% |
| Profit (loss) for the period to be appropriated | 9905 | €59,979 | €13,068 | -€46,911 | -78.2% |
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 1 October 2026 via checked.be.