VVB Services: what changed
VVB Services
Largest movements
- Current investments +€40,261
up €40,261 (+31.0%), from €130,000 to €170,261
- Receivables within one year -€17,158
down €17,158 (-59.2%), from €28,992 to €11,834
of which Trade receivables: -€23,718
- Tangible fixed assets +€8,832
up €8,832 (+105%), from €8,412 to €17,243
of which Plant, machinery and equipment: +€7,316
- Intangible fixed assets +€6,451
new in 2025: €6,451
- Cash -€2,712
down €2,712 (-27.7%), from €9,787 to €7,074
mainly Contributions, distributions and other (-€142,872) and Current investments (-€40,261)
- Other debts +€163,134
up €163,134 (+521%), from €31,317 to €194,451
- Reserves -€120,260
down €120,260 (-92.1%), from €130,644 to €10,384
- Tax, wage and social debts -€6,711
down €6,711 (-79.3%), from €8,467 to €1,756
- Gross operating margin -€8,635
down €8,635 (-17.5%), from €49,318 to €40,683
- Taxes -€2,794
down €2,794 (-26.0%), from €10,750 to €7,956
- Financial income +€2,043
up €2,043 (+5,634%), from €36 to €2,080
- Financial charges +€1,094
up €1,094 (+26.6%), from €4,107 to €5,202
- Depreciation +€996
up €996 (+24.1%), from €4,126 to €5,122
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €179,148 | €216,125 | +€36,977 | +20.6% |
| Fixed assets | 21/28 | €8,412 | €23,695 | +€15,283 | +182% |
| Intangible fixed assets | 21 | - | €6,451 | +€6,451 | |
| Tangible fixed assets | 22/27 | €8,412 | €17,243 | +€8,832 | +105% |
| Plant, machinery and equipment | 23 | €856 | €8,172 | +€7,316 | +855% |
| Furniture and vehicles | 24 | €7,556 | €9,071 | +€1,516 | +20.1% |
| Current assets | 29/58 | €170,737 | €192,430 | +€21,694 | +12.7% |
| Stocks and contracts in progress | 3 | €779 | €1,300 | +€521 | +66.8% |
| Stocks | 30/36 | €779 | €1,300 | +€521 | +66.8% |
| Amounts receivable within one year | 40/41 | €28,992 | €11,834 | -€17,158 | -59.2% |
| Trade receivables | 40 | €25,791 | €2,074 | -€23,718 | -92.0% |
| Other amounts receivable | 41 | €3,201 | €9,760 | +€6,559 | +205% |
| Current investments | 50/53 | €130,000 | €170,261 | +€40,261 | +31.0% |
| Cash at bank and in hand | 54/58 | €9,787 | €7,074 | -€2,712 | -27.7% |
| Deferred charges and accrued income | 490/1 | €1,178 | €1,961 | +€783 | +66.4% |
| Total equity and liabilities | 10/49 | €179,148 | €216,125 | +€36,977 | +20.6% |
| Equity | 10/15 | €131,644 | €11,384 | -€120,260 | -91.4% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €130,644 | €10,384 | -€120,260 | -92.1% |
| Distributable reserves | 133 | €130,644 | €10,384 | -€120,260 | -92.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €47,504 | €204,741 | +€157,237 | +331% |
| Amounts payable within one year | 42/48 | €45,731 | €202,231 | +€156,500 | +342% |
| Trade debts | 44 | €5,948 | €6,025 | +€77 | +1.3% |
| Suppliers | 440/4 | €5,948 | €6,025 | +€77 | +1.3% |
| Taxes, remuneration and social security | 45 | €8,467 | €1,756 | -€6,711 | -79.3% |
| Taxes | 450/3 | €8,467 | €1,756 | -€6,711 | -79.3% |
| Other amounts payable | 47/48 | €31,317 | €194,451 | +€163,134 | +521% |
| Accrued charges and deferred income | 492/3 | €1,773 | €2,510 | +€737 | +41.6% |
| Remuneration, social security and pensions | 62 | - | €856 | +€856 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,126 | €5,122 | +€996 | +24.1% |
| Other operating charges | 640/8 | €785 | €1,016 | +€231 | +29.4% |
| Gross operating margin | 9900 | €49,318 | €40,683 | -€8,635 | -17.5% |
| Operating profit (loss) | 9901 | €44,407 | €33,690 | -€10,717 | -24.1% |
| Financial income | 75/76B | €36 | €2,080 | +€2,043 | +5,634% |
| Recurring financial income | 75 | €36 | €2,080 | +€2,043 | +5,634% |
| Financial charges | 65/66B | €4,107 | €5,202 | +€1,094 | +26.6% |
| Recurring financial charges | 65 | €4,107 | €5,202 | +€1,094 | +26.6% |
| Profit (loss) for the period before taxes | 9903 | €40,336 | €30,568 | -€9,768 | -24.2% |
| Income taxes | 67/77 | €10,750 | €7,956 | -€2,794 | -26.0% |
| Profit (loss) for the period | 9904 | €29,586 | €22,612 | -€6,974 | -23.6% |
| Profit (loss) for the period to be appropriated | 9905 | €29,586 | €22,612 | -€6,974 | -23.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.