VVB HOLDING: 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.
VVB HOLDING
Largest movements
- Receivables within one year -€398,851
down €398,851 (-93.8%), from €425,290 to €26,439
of which Other amounts receivable: -€242,851
- Cash +€325,001
up €325,001 (+2,504%), from €12,979 to €337,980
mainly Receivables within one year (+€398,851) and Net result for the year (+€191,443)
- Tangible fixed assets +€201,038
up €201,038 (+185%), from €108,557 to €309,596
of which Furniture and vehicles: +€209,397
- Reserves +€191,443
up €191,443 (+18.7%), from €1.0m to €1.2m
of which Distributable reserves: +€191,443
- Debts after one year -€36,190
down €36,190 (-33.9%), from €106,638 to €70,448
- Financial income -€52,418
down €52,418 (-20.8%), from €252,553 to €200,135
- Depreciation +€49,902
up €49,902 (+570%), from €8,750 to €58,652
- Gross operating margin +€34,481
up €34,481 (+52.6%), from €65,504 to €99,985
- Financial charges +€16,610
up €16,610 (+240%), from €6,935 to €23,545
- Taxes -€1,788
down €1,788 (-7.0%), from €25,498 to €23,709
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.
Derived cash bridge
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 | €1,839,318 | €1,972,187 | +€132,869 | +7.2% |
| Fixed assets | 21/28 | €1,386,349 | €1,587,387 | +€201,038 | +14.5% |
| Tangible fixed assets | 22/27 | €108,557 | €309,596 | +€201,038 | +185% |
| Plant, machinery and equipment | 23 | €1,045 | €450 | -€595 | -56.9% |
| Furniture and vehicles | 24 | €9,971 | €219,368 | +€209,397 | +2,100% |
| Other tangible fixed assets | 26 | €97,542 | €89,778 | -€7,764 | -8.0% |
| Financial fixed assets | 28 | €1,277,791 | €1,277,791 | = | 0.0% |
| Current assets | 29/58 | €452,970 | €384,800 | -€68,169 | -15.0% |
| Amounts receivable within one year | 40/41 | €425,290 | €26,439 | -€398,851 | -93.8% |
| Trade receivables | 40 | €182,439 | €26,439 | -€156,000 | -85.5% |
| Other amounts receivable | 41 | €242,851 | €0 | -€242,851 | -100% |
| Cash at bank and in hand | 54/58 | €12,979 | €337,980 | +€325,001 | +2,504% |
| Deferred charges and accrued income | 490/1 | €14,701 | €20,382 | +€5,681 | +38.6% |
| Total equity and liabilities | 10/49 | €1,839,318 | €1,972,187 | +€132,869 | +7.2% |
| Equity | 10/15 | €1,215,633 | €1,407,076 | +€191,443 | +15.7% |
| Contributions | 10/11 | €194,014 | €194,014 | = | 0.0% |
| Reserves | 13 | €1,021,618 | €1,213,062 | +€191,443 | +18.7% |
| Tax-exempt reserves | 132 | €5,716 | €5,716 | = | 0.0% |
| Distributable reserves | 133 | €1,015,902 | €1,207,345 | +€191,443 | +18.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €623,686 | €565,112 | -€58,574 | -9.4% |
| Amounts payable after more than one year | 17 | €106,638 | €70,448 | -€36,190 | -33.9% |
| Financial debts | 170/4 | €106,638 | €70,448 | -€36,190 | -33.9% |
| Amounts payable within one year | 42/48 | €513,182 | €494,663 | -€18,519 | -3.6% |
| Current portion of amounts payable after more than one year | 42 | €34,694 | €36,190 | +€1,496 | +4.3% |
| Financial debts | 43 | €573 | €40 | -€533 | -93.0% |
| Credit institutions | 430/8 | €573 | €40 | -€533 | -93.0% |
| Trade debts | 44 | €5,511 | €7,625 | +€2,114 | +38.4% |
| Suppliers | 440/4 | €5,511 | €7,625 | +€2,114 | +38.4% |
| Taxes, remuneration and social security | 45 | €30,130 | €18,824 | -€11,306 | -37.5% |
| Taxes | 450/3 | €30,130 | €18,824 | -€11,306 | -37.5% |
| Other amounts payable | 47/48 | €442,274 | €431,984 | -€10,290 | -2.3% |
| Accrued charges and deferred income | 492/3 | €3,866 | €0 | -€3,866 | -100% |
| Non-recurring operating income | 76A | - | €43,000 | +€43,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,750 | €58,652 | +€49,902 | +570% |
| Other operating charges | 640/8 | €3,674 | €2,771 | -€903 | -24.6% |
| Non-recurring operating charges | 66A | €57,661 | €0 | -€57,661 | -100% |
| Gross operating margin | 9900 | €65,504 | €99,985 | +€34,481 | +52.6% |
| Operating profit (loss) | 9901 | -€4,581 | €38,562 | +€43,143 | |
| Financial income | 75/76B | €252,553 | €200,135 | -€52,418 | -20.8% |
| Recurring financial income | 75 | €252,553 | €200,135 | -€52,418 | -20.8% |
| Financial charges | 65/66B | €6,935 | €23,545 | +€16,610 | +240% |
| Recurring financial charges | 65 | €6,935 | €23,545 | +€16,610 | +240% |
| Profit (loss) for the period before taxes | 9903 | €241,037 | €215,153 | -€25,885 | -10.7% |
| Income taxes | 67/77 | €25,498 | €23,709 | -€1,788 | -7.0% |
| Profit (loss) for the period | 9904 | €215,540 | €191,443 | -€24,096 | -11.2% |
| Profit (loss) for the period to be appropriated | 9905 | €215,540 | €191,443 | -€24,096 | -11.2% |
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 27 October 2026 via checked.be.