VL-Tech
Annual accounts 2024
micro format, filed on 18-11-2025, 110 days lateTurnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €1.7m. Estimated: probably between €1.3m and €2.5m.
Balance sheet
balance sheet total €745,730 on 31-12-2024Change in equityin euro
Change in cashin euro
Position in the sector
Solvency31.8%
Higher than 33% of 35,966 companies in 2024.
Current ratio1.13
Higher than 26% of 35,363 companies in 2024.
Return on assets20.3%
Higher than 79% of 35,547 companies in 2024.
Net result: top quarter · Equity: top quarter · Balance sheet total: top quarter · Working capital: middle half
Staff
Staff cost per FTE€85,465
Staff costs divided by the average number of full-time equivalents.
Joined and left+5
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2024 | 2023 |
|---|---|---|---|
| Balance sheet: assets | |||
Total assets20/58 |
745,730 | 547,798 | |
Formation expenses20 |
- | 1,101 | |
Fixed assets21/28 |
394,280 | 405,260 | |
Tangible fixed assets22/27 |
392,280 | 403,260 | |
Plant, machinery and equipment23 |
132,085 | 137,260 | |
Furniture and vehicles24 |
21,428 | 16,000 | |
Leasing and similar rights25 |
238,767 | 250,000 | |
Financial fixed assets28 |
2,000 | 2,000 | |
Current assets29/58 |
351,449 | 141,437 | |
Stocks and contracts in progress3 |
24,548 | 24,548 | |
Stocks30/36 |
24,548 | 24,548 | |
Amounts receivable within one year40/41 |
306,916 | 91,798 | |
Trade receivables40 |
201,107 | 59,499 | |
Other amounts receivable41 |
105,809 | 32,299 | |
Cash at bank and in hand54/58 |
19,986 | 25,091 | |
| Balance sheet: equity and liabilities | |||
Total equity and liabilities10/49 |
745,730 | 547,798 | |
Equity10/15 |
237,194 | 86,106 | |
Contributions10/11 |
20,000 | 20,000 | |
Profit (loss) carried forward14 |
217,194 | 66,106 | |
Amounts payable17/49 |
508,536 | 461,692 | |
Amounts payable after more than one year17 |
198,167 | 225,629 | |
Financial debts170/4 |
198,167 | 225,629 | |
Amounts payable within one year42/48 |
310,369 | 236,062 | |
Current portion of amounts payable after more than one year42 |
13,148 | 53,849 | |
Trade debts44 |
130,677 | 65,203 | |
Suppliers440/4 |
130,677 | 65,203 | |
Taxes, remuneration and social security45 |
133,533 | 47,223 | |
Taxes450/3 |
31,903 | 24,237 | |
Remuneration and social security454/9 |
101,630 | 22,987 | |
Other amounts payable47/48 |
33,011 | 69,787 | |
| Income statement | |||
Gross operating margin9900 |
686,705 | 381,364 | |
Goods, raw materials, services and sundry goods60/61 |
- | 595,842 | |
Remuneration, social security and pensions62 |
487,153 | 283,449 | |
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 |
33,378 | - | |
Other operating charges640/8 |
2,419 | 805 | |
Operating profit (loss)9901 |
163,754 | 97,111 | |
Financial income75/76B |
27 | 0 | |
Recurring financial income75 |
27 | 0 | |
Financial charges65/66B |
12,693 | 6,768 | |
Recurring financial charges65 |
12,693 | 6,768 | |
Profit (loss) for the period before taxes9903 |
151,088 | 90,342 | |
Income taxes67/77 |
- | 24,237 | |
Profit (loss) for the period9904 |
151,088 | 66,106 | |
Profit (loss) for the period to be appropriated9905 |
151,088 | 66,106 | |
| Appropriation of the result | |||
Profit (loss) to be appropriated9906 |
217,194 | 66,106 | |
Profit (loss) brought forward from the previous period14P |
66,106 | - | |
| Social balance sheet | |||
Average staff (FTE)9087 |
5.7 | 6.7 | |
Hours worked1013 |
13,290 | 9,240 | |
| Document | |||
The notes to these accounts have 8 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 2024 (PDF), filed on 18-11-2025.
Filings
each dot is a set of accounts, on the day it reached the National Bank2024 annual accounts filed 110 days after the deadline. Filed on 18 November 2025, deadline 31 July 2025 (7 months after the close on 31 December 2024, Companies Code art. 3:10). Source: NBB, 2025-00567430.
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2024 | 2023 |
|---|---|---|---|
| EBITDA | 197,133 | - | |
| Cash flow | 184,467 | - | |
| Investment in fixed assets | 21,298 | 405,260 | |
| Change in cash | -5,105 | - | |
| Working capital | 41,080 | -94,626 | |
| Solvency | 31.8% | 15.7% | |
| Current ratio | 1.13 | 0.60 | |
| Quick ratio | 1.05 | 0.50 | |
| Debt to equity | 2.14 | 5.36 | |
| ROE | 63.7% | 76.8% | |
| ROA | 20.3% | 12.1% | |
| Interest coverage | 15.53 | - | |
| Supplier credit | - | 40 days |
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.
Social balance sheet
| Item | 31-12-2024 | 31-12-2023 |
|---|---|---|
| Employees at the balance-sheet date | 7 | 6 |
| full-time | 7 | 6 |
| in full-time equivalents | 7 | 6 |
| Average over the year, in full-time equivalents | 5.7 | 6.7 |
| On a permanent contract | 6 | 4 |
| Joined | 20 | 33 |
| Left | 15 | 29 |
Source: social balance sheet in the 2023 to 2024 annual accounts
Investments
fixed assets acquired| Item | 2024 | 2023 |
|---|---|---|
| Tangible fixed assets | €21,298 | €403,260 |
| Financial fixed assets | - | €2,000 |
| Depreciation and write-downs of the year | €33,378 | - |
Source: notes to the 2023 to 2024 annual accounts (statement of fixed assets)
Insights on VL-Tech
The operating result for 2024 is 69% higher than in 2023.
Debt's share of the balance-sheet total falls from 84.3% to 68.2%. Equity and debt are higher.