Ateliers Vlassenroot: what changed
What changed
Ateliers Vlassenroot
NACE 25.110, Manufacture of metal structures and parts of structures
filed annual accounts (NBB)
Net result for the year
-€4.7m
2025 · -€13.0m+€8.3m
Equity
€7.0m
2025 · €12.8m-€5.7m
Cash
€295,369
2025 · €194,027+€101,342
Balance sheet total
€22.6m
2025 · €29.9m-€7.3m
Largest movements
Assets
- Intangible fixed assets -€3.1m
down €3.1m (-100%), from €3.1m to €0
- Tangible fixed assets -€1.9m
down €1.9m (-32.2%), from €5.8m to €4.0m
of which Leasing and similar rights: -€1.4m
- Stocks and contracts -€1.8m
down €1.8m (-50.4%), from €3.6m to €1.8m
of which Contracts in progress: -€981,538
- Receivables within one year -€856,518
down €856,518 (-13.8%), from €6.2m to €5.4m
of which Other amounts receivable: -€544,164
Equity and liabilities
- Profit (loss) carried forward -€4.7m
down €4.7m (-35.0%), from -€13.4m to -€18.2m
- Debts after one year -€1.6m
down €1.6m (-40.7%), from €4.0m to €2.4m
of which Other amounts payable: -€1.2m
- Investment grants -€1.0m
down €1.0m (-100%), from €1.0m to €0
- Provisions +€893,789
new in 2026: €893,789
- Trade debts -€503,474
down €503,474 (-9.9%), from €5.1m to €4.6m
Income statement
- Financial charges -€9.4m
down €9.4m (-94.4%), from €10.0m to €557,554
of which Non-recurring financial charges: -€9.2m
- Services and other goods -€1.1m
down €1.1m (-29.3%), from €3.8m to €2.7m
- Financial income +€1.1m
up €1.1m (+631%), from €166,813 to €1.2m
of which Non-recurring financial income: +€1.1m
- Goods and materials -€803,718
down €803,718 (-8.9%), from €9.1m to €8.2m
of which Purchases: -€1.5m
- Staff costs -€707,742
down €707,742 (-25.4%), from €2.8m to €2.1m
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2025
-€13.0m
Turnover
-€293,916
Other operating income
-€195,413
Goods and materials
+€803,718
Services and other goods
+€1.1m
Staff costs
+€707,742
Depreciation
+€20,758
Write-downs
-€200,000
Provisions
-€236,207
Other operating charges
-€9,468
Other operating items
-€3.9m
Financial income
+€1.1m
Financial charges
+€9.4m
Taxes
+€26,034
Result 2026
-€4.7m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€650,227
Investment
+€4.0m
Financing
-€3.2m
Cash 2025
€194,027
From operations (derived)
-€650,227
Net result for the year
-€4.7m
Depreciation
+€824,567
Stocks and contracts
+€1.8m
Receivables within one year
+€856,518
Deferred charges and accrued income
-€6,338
Provisions
+€893,789
Trade debts
-€503,474
Tax, wage and social debts
-€157,753
Other debts
+€279,509
Accrued charges and deferred income
+€71,013
Investment (derived)
+€4.0m
Investment in fixed assets (net)
+€4.0m
Financing
-€3.2m
Debts after one year
-€1.6m
Current portion of long-term debt
-€400,584
Short-term financial debts
-€156,161
Contributions, distributions and other
-€1.0m
Cash 2026
€295,369
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €29,910,759 | €22,569,546 | -€7.3m | -24.5% |
| Fixed assets | 21/28 | €19,900,779 | €15,101,321 | -€4.8m | -24.1% |
| Intangible fixed assets | 21 | €3,069,335 | €0 | -€3.1m | -100% |
| Tangible fixed assets | 22/27 | €5,844,987 | €3,964,864 | -€1.9m | -32.2% |
| Plant, machinery and equipment | 23 | €603,279 | €202,680 | -€400,600 | -66.4% |
| Furniture and vehicles | 24 | €91,081 | €50,960 | -€40,121 | -44.0% |
| Leasing and similar rights | 25 | €4,868,594 | €3,514,636 | -€1.4m | -27.8% |
| Other tangible fixed assets | 26 | €193,167 | €178,056 | -€15,111 | -7.8% |
| Assets under construction and advance payments | 27 | €88,865 | €18,532 | -€70,333 | -79.1% |
| Financial fixed assets | 28 | €10,986,457 | €11,136,457 | +€150,000 | +1.4% |
| Affiliated companies | 280/1 | €10,980,617 | €11,130,617 | +€150,000 | +1.4% |
| Participating interests | 280 | €10,980,617 | €11,130,617 | +€150,000 | +1.4% |
| Other financial fixed assets | 284/8 | €5,839 | €5,839 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €5,839 | €5,839 | = | 0.0% |
| Current assets | 29/58 | €10,009,980 | €7,468,225 | -€2.5m | -25.4% |
| Stocks and contracts in progress | 3 | €3,559,453 | €1,766,537 | -€1.8m | -50.4% |
| Stocks | 30/36 | €2,128,184 | €1,316,806 | -€811,378 | -38.1% |
| Raw materials and consumables | 30/31 | €2,128,184 | €1,316,806 | -€811,378 | -38.1% |
| Contracts in progress | 37 | €1,431,269 | €449,731 | -€981,538 | -68.6% |
| Amounts receivable within one year | 40/41 | €6,208,954 | €5,352,436 | -€856,518 | -13.8% |
| Trade receivables | 40 | €5,509,452 | €5,197,098 | -€312,354 | -5.7% |
| Other amounts receivable | 41 | €699,502 | €155,338 | -€544,164 | -77.8% |
| Cash at bank and in hand | 54/58 | €194,027 | €295,369 | +€101,342 | +52.2% |
| Deferred charges and accrued income | 490/1 | €47,546 | €53,884 | +€6,338 | +13.3% |
| Total equity and liabilities | 10/49 | €29,910,759 | €22,569,546 | -€7.3m | -24.5% |
| Equity | 10/15 | €12,768,443 | €7,020,669 | -€5.7m | -45.0% |
| Contributions | 10/11 | €20,761,981 | €20,761,981 | = | 0.0% |
| Capital | 10 | €20,761,981 | €20,761,981 | = | 0.0% |
| Issued capital | 100 | €20,761,981 | €20,761,981 | = | 0.0% |
| Revaluation surpluses | 12 | €3,546,813 | €3,546,813 | = | 0.0% |
| Reserves | 13 | €862,154 | €862,154 | = | 0.0% |
| Non-distributable reserves | 130/1 | €791,070 | €791,070 | = | 0.0% |
| Legal reserve | 130 | €576,313 | €576,313 | = | 0.0% |
| Other | 1319 | €214,758 | €214,758 | = | 0.0% |
| Distributable reserves | 133 | €71,083 | €71,083 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,449,305 | -€18,150,279 | -€4.7m | -35.0% |
| Investment grants | 15 | €1,046,801 | €0 | -€1.0m | -100% |
| Provisions and deferred taxes | 16 | - | €893,789 | +€893,789 | |
| Provisions for liabilities and charges | 160/5 | - | €893,789 | +€893,789 | |
| Other liabilities and charges | 164/5 | - | €893,789 | +€893,789 | |
| Amounts payable | 17/49 | €17,142,316 | €14,655,089 | -€2.5m | -14.5% |
| Amounts payable after more than one year | 17 | €3,977,613 | €2,357,836 | -€1.6m | -40.7% |
| Financial debts | 170/4 | €2,638,297 | €2,232,333 | -€405,964 | -15.4% |
| Leasing and similar obligations | 172 | €2,638,297 | €2,232,333 | -€405,964 | -15.4% |
| Other amounts payable | 178/9 | €1,339,316 | €125,503 | -€1.2m | -90.6% |
| Amounts payable within one year | 42/48 | €13,164,703 | €12,226,240 | -€938,463 | -7.1% |
| Current portion of amounts payable after more than one year | 42 | €846,165 | €445,581 | -€400,584 | -47.3% |
| Financial debts | 43 | €6,206,164 | €6,050,004 | -€156,161 | -2.5% |
| Credit institutions | 430/8 | €6,206,164 | €6,050,004 | -€156,161 | -2.5% |
| Trade debts | 44 | €5,098,068 | €4,594,594 | -€503,474 | -9.9% |
| Suppliers | 440/4 | €5,098,068 | €4,594,594 | -€503,474 | -9.9% |
| Taxes, remuneration and social security | 45 | €473,592 | €315,839 | -€157,753 | -33.3% |
| Taxes | 450/3 | €185,680 | €92,064 | -€93,617 | -50.4% |
| Remuneration and social security | 454/9 | €287,912 | €223,775 | -€64,136 | -22.3% |
| Other amounts payable | 47/48 | €540,714 | €820,223 | +€279,509 | +51.7% |
| Accrued charges and deferred income | 492/3 | - | €71,013 | +€71,013 | |
| Operating income | 70/76A | €15,440,018 | €14,257,006 | -€1.2m | -7.7% |
| Turnover | 70 | €14,518,174 | €14,224,259 | -€293,916 | -2.0% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€284,146 | -€981,538 | -€697,392 | -245% |
| Other operating income | 74 | €1,205,991 | €1,010,577 | -€195,413 | -16.2% |
| Non-recurring operating income | 76A | - | €3,708 | +€3,708 | |
| Operating charges | 60/66A | €18,652,982 | €19,643,506 | +€990,523 | +5.3% |
| Goods for resale, raw materials and consumables | 60 | €9,052,722 | €8,249,004 | -€803,718 | -8.9% |
| Purchases | 600/8 | €9,180,373 | €7,637,625 | -€1.5m | -16.8% |
| Change in stocks: decrease (increase) | 609 | -€127,651 | €611,378 | +€739,029 | |
| Services and other goods | 61 | €3,825,431 | €2,705,675 | -€1.1m | -29.3% |
| Remuneration, social security and pensions | 62 | €2,787,733 | €2,079,991 | -€707,742 | -25.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €845,325 | €824,567 | -€20,758 | -2.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €200,000 | +€200,000 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€93,707 | €142,500 | +€236,207 | |
| Other operating charges | 640/8 | €152,230 | €161,699 | +€9,468 | +6.2% |
| Non-recurring operating charges | 66A | €2,083,248 | €5,280,069 | +€3.2m | +153% |
| Operating profit (loss) | 9901 | -€3,212,964 | -€5,386,500 | -€2.2m | -67.6% |
| Financial income | 75/76B | €166,813 | €1,219,210 | +€1.1m | +631% |
| Recurring financial income | 75 | €166,813 | €143,143 | -€23,670 | -14.2% |
| Income from current assets | 751 | €15,593 | €0 | -€15,593 | -100% |
| Other financial income | 752/9 | €151,221 | €143,143 | -€8,077 | -5.3% |
| Non-recurring financial income | 76B | - | €1,076,067 | +€1.1m | |
| Financial charges | 65/66B | €9,971,485 | €557,554 | -€9.4m | -94.4% |
| Recurring financial charges | 65 | €753,485 | €557,554 | -€195,931 | -26.0% |
| Debt charges | 650 | €723,808 | €529,908 | -€193,900 | -26.8% |
| Other financial charges | 652/9 | €29,677 | €27,646 | -€2,031 | -6.8% |
| Non-recurring financial charges | 66B | €9,218,000 | €0 | -€9.2m | -100% |
| Profit (loss) for the period before taxes | 9903 | -€13,017,635 | -€4,724,844 | +€8.3m | +63.7% |
| Income taxes | 67/77 | €2,163 | -€23,870 | -€26,034 | |
| Taxes | 670/3 | €2,163 | €0 | -€2,163 | -100% |
| Tax adjustments and reversals of tax provisions | 77 | - | €23,870 | +€23,870 | |
| Profit (loss) for the period | 9904 | -€13,019,799 | -€4,700,974 | +€8.3m | +63.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,019,799 | -€4,700,974 | +€8.3m | +63.9% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.