VL Developments
Annual accounts 2025
abbreviated format, filed on 30-04-2026, on the day of the deadlineTurnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €65,000. Estimated: probably between €32,000 and €210,000.
Balance sheet
balance sheet total €138,287 on 30-09-2025in euro
in euro
Position in the sector
12.7%
Higher than 32% of 12,423 companies in 2025.
0.45
Higher than 26% of 11,950 companies in 2025.
3.6%
Higher than 69% of 12,326 companies in 2025.
Net result: middle half · Equity: bottom quarter · Balance sheet total: bottom quarter · Working capital: middle half
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||
20/58 |
138,287 | 138,745 | 136,804 | 275,180 | 242,844 | 243,635 | 214,318 | 64,869 | |
21/28 |
84,218 | 89,723 | 95,228 | 218,897 | 209,846 | 208,520 | 204,465 | - | |
22/27 |
84,218 | 89,723 | 95,228 | 33,897 | 24,846 | 23,520 | 19,465 | - | |
22 |
49,579 | 49,579 | 49,579 | - | - | - | - | - | |
23 |
11,490 | 12,946 | 14,402 | 1,699 | - | - | - | - | |
26 |
23,149 | 27,198 | 31,248 | 32,198 | 24,846 | 23,520 | 19,465 | - | |
28 |
- | - | - | 185,000 | 185,000 | 185,000 | 185,000 | - | |
29/58 |
54,069 | 49,022 | 41,576 | 56,283 | 32,998 | 35,116 | 9,853 | 64,869 | |
3 |
446 | 446 | 446 | 446 | 446 | 446 | 446 | 446 | |
30/36 |
446 | 446 | 446 | 446 | 446 | 446 | 446 | 446 | |
40/41 |
51,142 | 37,340 | 35,454 | 23,760 | 31,023 | 18,320 | 9,407 | 2,443 | |
40 |
855 | 1,255 | 242 | - | 4,175 | - | 1,634 | - | |
41 |
50,287 | 36,085 | 35,212 | 23,760 | 26,849 | 18,320 | 7,773 | 2,443 | |
54/58 |
24 | 207 | 161 | 14,613 | 1,228 | 1,969 | - | 61,979 | |
490/1 |
2,457 | 11,029 | 5,514 | 17,464 | 300 | 14,381 | - | - | |
| Balance sheet: equity and liabilities | |||||||||
10/49 |
138,287 | 138,745 | 136,804 | 275,180 | 242,844 | 243,635 | 214,318 | 64,869 | |
10/15 |
17,542 | 12,498 | 13,910 | 108,749 | 107,458 | 99,694 | 79,494 | 64,044 | |
10/11 |
80,000 | 80,000 | 80,000 | 80,000 | 80,000 | 80,000 | 80,000 | 80,000 | |
100 |
- | - | - | - | - | - | 80,000 | 80,000 | |
14 |
-62,458 | -67,502 | -66,090 | 28,749 | 27,458 | 19,694 | -506 | -15,956 | |
17/49 |
120,745 | 126,247 | 122,894 | 166,430 | 135,386 | 143,942 | 134,824 | 824 | |
17 |
- | 1,769 | 22,799 | 43,466 | 63,775 | 83,734 | 103,348 | - | |
170/4 |
- | 1,769 | 22,799 | 43,466 | 63,775 | 83,734 | 103,348 | - | |
42/48 |
120,745 | 123,978 | 100,095 | 122,965 | 65,110 | 56,707 | 31,476 | 824 | |
42 |
1,769 | 21,030 | 20,667 | 20,310 | 19,959 | 19,614 | 19,275 | - | |
44 |
14,160 | 16,705 | 18,336 | 41,980 | 15,118 | 13,145 | 8,130 | 824 | |
440/4 |
14,160 | 16,705 | 18,336 | 41,980 | 15,118 | 13,145 | 8,130 | 824 | |
45 |
1,540 | 154 | 366 | 114 | 4,472 | 6,337 | - | - | |
450/3 |
1,540 | 154 | 366 | 114 | 4,472 | 6,337 | - | - | |
47/48 |
103,275 | 86,090 | 60,726 | 60,561 | 25,561 | 17,611 | 4,071 | - | |
492/3 |
- | 500 | - | - | 6,500 | 3,500 | - | - | |
| Income statement | |||||||||
9900 |
15,706 | 9,647 | 17,918 | 8,472 | 15,754 | 30,588 | 21,788 | -15,147 | |
630 |
5,505 | 5,505 | 6,917 | 3,656 | 3,153 | 2,490 | 2,163 | - | |
640/8 |
2,673 | 2,874 | 2,526 | 204 | 449 | 448 | 451 | 800 | |
66A |
- | - | 99,571 | - | - | - | - | - | |
9901 |
7,528 | 1,268 | -91,096 | 4,611 | 12,153 | 27,650 | 19,174 | -15,947 | |
75/76B |
- | 30 | 0 | - | - | - | - | - | |
75 |
- | 30 | 0 | - | - | - | - | - | |
65/66B |
944 | 2,556 | 3,376 | 3,207 | 1,949 | 1,113 | 3,725 | 8 | |
65 |
944 | 2,556 | 3,376 | 3,207 | 1,949 | 1,113 | 3,725 | 8 | |
9903 |
6,584 | -1,258 | -94,473 | 1,405 | 10,203 | 26,537 | 15,449 | -15,956 | |
67/77 |
1,540 | 154 | 366 | 114 | 2,439 | 6,337 | - | - | |
9904 |
5,044 | -1,412 | -94,839 | 1,291 | 7,765 | 20,200 | 15,449 | -15,956 | |
9905 |
5,044 | -1,412 | -94,839 | 1,291 | 7,765 | 20,200 | 15,449 | -15,956 | |
| Appropriation of the result | |||||||||
9906 |
-62,458 | -67,502 | -66,090 | 28,749 | 27,458 | 19,694 | -506 | -15,956 | |
14P |
-67,502 | -66,090 | 28,749 | 27,458 | - | - | - | - | |
| Document | |||||||||
The notes to these accounts have 7 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 30-04-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | abbreviated format | 30-04-2026 | 2026-00098290 | |
| 30-09-2024 | abbreviated format | 30-04-2025 | 2025-00085278 | |
| 30-09-2023 | abbreviated format | 30-04-2024 | 2024-00081168 | |
| 30-09-2022 | abbreviated format | 28-04-2023 | 2023-00076468 | |
| 30-09-2021 | abbreviated format | 31-03-2022 | 2022-09900598 | |
| 30-09-2020 | micro format | 29-04-2021 | 2021-12300020 | |
| 30-09-2019 | micro format | 29-04-2020 | 2020-11000041 | |
| 30-09-2018 | micro format | 29-03-2019 | 2019-08600540 |
Subsidies and aid
Flemish government 2022 to 2025, 2 entries, €1,744 awarded, €1,744 paid
| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €1,447 | €1,447 |
| 2022 | 1 | €297 | €297 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| 13,033 | 6,773 | -84,179 | 8,268 | 15,306 | 30,140 | 21,337 | - | ||
| 10,549 | 4,093 | -87,922 | 4,947 | 10,918 | 22,690 | 17,612 | - | ||
| 0 | 0 | 374,541 | 12,707 | 4,480 | 6,545 | 206,628 | - | ||
| -183 | 45 | -14,452 | 13,385 | -741 | - | - | - | ||
| -66,676 | -74,956 | -58,519 | -66,682 | -32,113 | -21,592 | -21,623 | 64,044 | ||
| 12.7% | 9.0% | 10.2% | 39.5% | 44.2% | 40.9% | 37.1% | 98.7% | ||
| 0.45 | 0.40 | 0.42 | 0.46 | 0.51 | 0.62 | 0.31 | 78.69 | ||
| 0.44 | 0.39 | 0.41 | 0.45 | 0.50 | 0.61 | 0.30 | 78.15 | ||
| 6.88 | 10.10 | 8.83 | 1.53 | 1.26 | 1.44 | 1.70 | 0.01 | ||
| 28.8% | -11.3% | -681.8% | 1.2% | 7.2% | 20.3% | 19.4% | -24.9% | ||
| 3.6% | -1.0% | -69.3% | 0.5% | 3.2% | 8.3% | 7.2% | -24.6% | ||
| 13.81 | 2.65 | -24.93 | 2.58 | - | - | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Securities and guarantees
on own assets and for others| Item | 30-09-2025 | 30-09-2024 | 30-09-2023 | 30-09-2022 |
|---|---|---|---|---|
| Debts guaranteed by Belgian public bodies | €1,769 | - | - | - |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
fixed assets acquired| Item | 30-09-2025 | 30-09-2024 | 30-09-2023 | 30-09-2022 |
|---|---|---|---|---|
| Tangible fixed assets | - | - | €374,541 | €12,707 |
| €5,505 | €5,505 | €6,917 | €3,656 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Insights on VL Developments
The operating result for 2025 is over 5.9 times that of 2024 and the highest since 2021. It is the second rise in a row, after the fall in 2023.
Debt's share of the balance-sheet total falls from 91.0% to 87.3%. Equity is higher and debt is lower.