VTRDB: 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.
VTRDB
Largest movements
- Tangible fixed assets -€16,394
down €16,394 (-41.5%), from €39,547 to €23,153
of which Furniture and vehicles: -€14,762
- Cash -€2,593
down €2,593 (-34.1%), from €7,607 to €5,014
mainly Debts after one year (-€5,883) and Tax, wage and social debts (-€4,398)
- Receivables within one year +€2,153
up €2,153 (+9.5%), from €22,598 to €24,750
of which Trade receivables: +€3,385
- Deferred charges and accrued income -€1,337
down €1,337 (-97.3%), from €1,374 to €37
- Debts after one year -€5,883
down €5,883 (-28.6%), from €20,554 to €14,671
- Tax, wage and social debts -€4,398
down €4,398 (-84.6%), from €5,201 to €802
- Other debts -€3,564
down €3,564 (-60.0%), from €5,941 to €2,378
- Profit (loss) carried forward -€2,558
down €2,558 (-24.4%), from €10,504 to €7,946
- Short-term financial debts -€1,219
down €1,219 (-59.1%), from €2,062 to €843
- Taxes -€1,579
down €1,579, from €1,200 to -€379
- Depreciation -€1,320
down €1,320 (-7.2%), from €18,222 to €16,902
- Other operating charges -€377
down €377 (-31.1%), from €1,212 to €834
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 | €71,126 | €52,954 | -€18,172 | -25.5% |
| Fixed assets | 21/28 | €39,547 | €23,153 | -€16,394 | -41.5% |
| Tangible fixed assets | 22/27 | €39,547 | €23,153 | -€16,394 | -41.5% |
| Plant, machinery and equipment | 23 | €3,763 | €2,131 | -€1,632 | -43.4% |
| Furniture and vehicles | 24 | €35,784 | €21,022 | -€14,762 | -41.3% |
| Current assets | 29/58 | €31,579 | €29,801 | -€1,778 | -5.6% |
| Amounts receivable within one year | 40/41 | €22,598 | €24,750 | +€2,153 | +9.5% |
| Trade receivables | 40 | €12,954 | €16,339 | +€3,385 | +26.1% |
| Other amounts receivable | 41 | €9,644 | €8,412 | -€1,232 | -12.8% |
| Cash at bank and in hand | 54/58 | €7,607 | €5,014 | -€2,593 | -34.1% |
| Deferred charges and accrued income | 490/1 | €1,374 | €37 | -€1,337 | -97.3% |
| Total equity and liabilities | 10/49 | €71,126 | €52,954 | -€18,172 | -25.5% |
| Equity | 10/15 | €29,395 | €26,836 | -€2,558 | -8.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €290 | €290 | = | 0.0% |
| Non-distributable reserves | 130/1 | €290 | €290 | = | 0.0% |
| Reserves not available under the articles | 1311 | €290 | €290 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,504 | €7,946 | -€2,558 | -24.4% |
| Amounts payable | 17/49 | €41,731 | €26,117 | -€15,614 | -37.4% |
| Amounts payable after more than one year | 17 | €20,554 | €14,671 | -€5,883 | -28.6% |
| Financial debts | 170/4 | €20,554 | €14,671 | -€5,883 | -28.6% |
| Amounts payable within one year | 42/48 | €21,177 | €11,446 | -€9,731 | -45.9% |
| Current portion of amounts payable after more than one year | 42 | €5,525 | €5,883 | +€359 | +6.5% |
| Financial debts | 43 | €2,062 | €843 | -€1,219 | -59.1% |
| Credit institutions | 430/8 | €2,062 | €843 | -€1,219 | -59.1% |
| Trade debts | 44 | €2,449 | €1,541 | -€908 | -37.1% |
| Suppliers | 440/4 | €2,449 | €1,541 | -€908 | -37.1% |
| Taxes, remuneration and social security | 45 | €5,201 | €802 | -€4,398 | -84.6% |
| Taxes | 450/3 | €5,201 | €802 | -€4,398 | -84.6% |
| Other amounts payable | 47/48 | €5,941 | €2,378 | -€3,564 | -60.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,222 | €16,902 | -€1,320 | -7.2% |
| Other operating charges | 640/8 | €1,212 | €834 | -€377 | -31.1% |
| Gross operating margin | 9900 | €16,092 | €16,013 | -€79 | -0.5% |
| Operating profit (loss) | 9901 | -€3,341 | -€1,723 | +€1,618 | +48.4% |
| Financial income | 75/76B | €531 | €422 | -€108 | -20.4% |
| Recurring financial income | 75 | €531 | €422 | -€108 | -20.4% |
| Financial charges | 65/66B | €1,524 | €1,636 | +€113 | +7.4% |
| Recurring financial charges | 65 | €1,524 | €1,636 | +€113 | +7.4% |
| Profit (loss) for the period before taxes | 9903 | -€4,335 | -€2,937 | +€1,397 | +32.2% |
| Income taxes | 67/77 | €1,200 | -€379 | -€1,579 | |
| Profit (loss) for the period | 9904 | -€5,534 | -€2,558 | +€2,976 | +53.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,534 | -€2,558 | +€2,976 | +53.8% |
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.