VURE: what changed
Two financial 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.
VURE
Largest movements
- Stocks and contracts -€767,640
down €767,640 (-27.8%), from €2.8m to €2.0m
of which Stocks: -€453,295
- Receivables within one year -€533,846
down €533,846 (-81.0%), from €659,277 to €125,431
- Cash -€85,353
down €85,353 (-18.5%), from €462,037 to €376,684
mainly Other debts (-€1.7m) and Net result for the year (-€1.0m)
- Other debts -€1.7m
down €1.7m (-28.5%), from €6.1m to €4.3m
- Advances received +€1.4m
up €1.4m, from €0 to €1.4m
- Profit (loss) carried forward -€1.0m
down €1.0m (-18.8%), from -€5.3m to -€6.3m
- Short-term financial debts -€660,000
no longer reported in 2025 (was €660,000)
- Trade debts +€621,609
up €621,609 (+26.0%), from €2.4m to €3.0m
- Goods and materials -€6.1m
down €6.1m (-45.6%), from €13.3m to €7.2m
of which Change in stocks: decrease (increase): -€7.1m
- Turnover +€5.1m
up €5.1m (+325.6%), from €1.6m to €6.7m
- Write-downs +€1.5m
up €1.5m (+94.3%), from -€1.6m to -€92,084
- Financial charges -€195,668
down €195,668 (-48.8%), from €400,566 to €204,898
- Other operating income -€137,260
no longer reported in 2025 (was €137,260)
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 | €3,880,129 | €2,493,290 | -€1.4m | -35.7% |
| Current assets | 29/58 | €3,880,129 | €2,493,290 | -€1.4m | -35.7% |
| Stocks and contracts in progress | 3 | €2,758,814 | €1,991,175 | -€767,640 | -27.8% |
| Stocks | 30/36 | €596,200 | €142,906 | -€453,295 | -76.0% |
| Property held for sale | 35 | €596,200 | €142,906 | -€453,295 | -76.0% |
| Contracts in progress | 37 | €2,162,614 | €1,848,269 | -€314,345 | -14.5% |
| Amounts receivable within one year | 40/41 | €659,277 | €125,431 | -€533,846 | -81.0% |
| Trade receivables | 40 | €659,277 | €125,431 | -€533,846 | -81.0% |
| Cash at bank and in hand | 54/58 | €462,037 | €376,684 | -€85,353 | -18.5% |
| Total equity and liabilities | 10/49 | €3,880,129 | €2,493,290 | -€1.4m | -35.7% |
| Equity | 10/15 | -€5,257,277 | -€6,258,557 | -€1.0m | -19.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,325,477 | -€6,326,757 | -€1.0m | -18.8% |
| Amounts payable | 17/49 | €9,137,406 | €8,751,847 | -€385,559 | -4.2% |
| Amounts payable within one year | 42/48 | €9,134,257 | €8,745,312 | -€388,945 | -4.3% |
| Financial debts | 43 | €660,000 | - | -€660,000 | |
| Credit institutions | 430/8 | €660,000 | - | -€660,000 | |
| Trade debts | 44 | €2,389,117 | €3,010,726 | +€621,609 | +26.0% |
| Suppliers | 440/4 | €2,389,117 | €3,010,726 | +€621,609 | +26.0% |
| Advances received on contracts in progress | 46 | €0 | €1,367,629 | +€1.4m | |
| Taxes, remuneration and social security | 45 | €1,415 | €19,822 | +€18,407 | +1301.1% |
| Taxes | 450/3 | €1,415 | €19,822 | +€18,407 | +1301.1% |
| Other amounts payable | 47/48 | €6,083,726 | €4,347,136 | -€1.7m | -28.5% |
| Accrued charges and deferred income | 492/3 | €3,149 | €6,535 | +€3,386 | +107.5% |
| Operating income | 70/76A | €12,161,464 | €6,370,421 | -€5.8m | -47.6% |
| Turnover | 70 | €1,570,638 | €6,684,767 | +€5.1m | +325.6% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €10,420,978 | -€314,345 | -€10.7m | |
| Other operating income | 74 | €137,260 | - | -€137,260 | |
| Non-recurring operating income | 76A | €32,589 | - | -€32,589 | |
| Operating charges | 60/66A | €11,712,902 | €7,166,803 | -€4.5m | -38.8% |
| Goods for resale, raw materials and consumables | 60 | €13,311,754 | €7,238,315 | -€6.1m | -45.6% |
| Purchases | 600/8 | €5,705,850 | €6,692,936 | +€987,086 | +17.3% |
| Change in stocks: decrease (increase) | 609 | €7,605,904 | €545,379 | -€7.1m | -92.8% |
| Services and other goods | 61 | €7,482 | €8,055 | +€573 | +7.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,610,804 | -€92,084 | +€1.5m | +94.3% |
| Other operating charges | 640/8 | €4,471 | €12,517 | +€8,047 | +180.0% |
| Operating profit (loss) | 9901 | €448,562 | -€796,381 | -€1.2m | |
| Financial income | 75/76B | €0 | €0 | -€0 | -50.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -50.0% |
| Other financial income | 752/9 | €0 | €0 | -€0 | -50.0% |
| Financial charges | 65/66B | €400,566 | €204,898 | -€195,668 | -48.8% |
| Recurring financial charges | 65 | €400,566 | €204,898 | -€195,668 | -48.8% |
| Debt charges | 650 | €369,676 | €189,342 | -€180,334 | -48.8% |
| Other financial charges | 652/9 | €30,890 | €15,556 | -€15,334 | -49.6% |
| Profit (loss) for the period before taxes | 9903 | €47,996 | -€1,001,280 | -€1.0m | |
| Profit (loss) for the period | 9904 | €47,996 | -€1,001,280 | -€1.0m | |
| Profit (loss) for the period to be appropriated | 9905 | €47,996 | -€1,001,280 | -€1.0m |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.