LE VORLAT'S: 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.
LE VORLAT'S
Largest movements
- Tangible fixed assets +€100,931
up €100,931 (+14,561%), from €693 to €101,624
- Receivables within one year -€8,924
down €8,924 (-55.3%), from €16,151 to €7,227
of which Trade receivables: -€8,924
- Other debts +€29,918
up €29,918 (+154%), from €19,386 to €49,304
- Debts after one year +€28,799
new in 2025: €28,799
- Profit (loss) carried forward +€14,593
up €14,593 (+56.3%), from €25,930 to €40,523
- Current portion of long-term debt +€13,375
new in 2025: €13,375
- Tax, wage and social debts +€5,511
up €5,511 (+19.6%), from €28,160 to €33,671
of which Taxes: +€5,284
- Staff costs -€21,985
down €21,985 (-13.4%), from €164,063 to €142,078
- Gross operating margin -€21,868
down €21,868 (-10.9%), from €201,301 to €179,434
- Depreciation +€9,556
up €9,556 (+2,480%), from €385 to €9,941
- Taxes -€3,230
down €3,230 (-39.2%), from €8,236 to €5,007
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 | €91,680 | €186,361 | +€94,682 | +103% |
| Fixed assets | 21/28 | €693 | €101,624 | +€100,931 | +14,561% |
| Tangible fixed assets | 22/27 | €693 | €101,624 | +€100,931 | +14,561% |
| Plant, machinery and equipment | 23 | - | €44,975 | +€44,975 | |
| Furniture and vehicles | 24 | €693 | €21,854 | +€21,161 | +3,053% |
| Other tangible fixed assets | 26 | - | €34,794 | +€34,794 | |
| Current assets | 29/58 | €90,986 | €84,738 | -€6,249 | -6.9% |
| Amounts receivable after more than one year | 29 | €50,000 | €50,000 | = | 0.0% |
| Other amounts receivable | 291 | €50,000 | €50,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €4,958 | €4,844 | -€115 | -2.3% |
| Stocks | 30/36 | €4,958 | €4,844 | -€115 | -2.3% |
| Amounts receivable within one year | 40/41 | €16,151 | €7,227 | -€8,924 | -55.3% |
| Trade receivables | 40 | €9,388 | €464 | -€8,924 | -95.1% |
| Other amounts receivable | 41 | €6,764 | €6,764 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €19,877 | €20,974 | +€1,097 | +5.5% |
| Deferred charges and accrued income | 490/1 | - | €1,693 | +€1,693 | |
| Total equity and liabilities | 10/49 | €91,680 | €186,361 | +€94,682 | +103% |
| Equity | 10/15 | €27,930 | €42,523 | +€14,593 | +52.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €25,930 | €40,523 | +€14,593 | +56.3% |
| Amounts payable | 17/49 | €63,749 | €143,838 | +€80,089 | +126% |
| Amounts payable after more than one year | 17 | - | €28,799 | +€28,799 | |
| Financial debts | 170/4 | - | €28,799 | +€28,799 | |
| Amounts payable within one year | 42/48 | €63,749 | €115,039 | +€51,290 | +80.5% |
| Current portion of amounts payable after more than one year | 42 | - | €13,375 | +€13,375 | |
| Trade debts | 44 | €16,203 | €18,689 | +€2,486 | +15.3% |
| Suppliers | 440/4 | €16,203 | €18,689 | +€2,486 | +15.3% |
| Taxes, remuneration and social security | 45 | €28,160 | €33,671 | +€5,511 | +19.6% |
| Taxes | 450/3 | €7,392 | €12,676 | +€5,284 | +71.5% |
| Remuneration and social security | 454/9 | €20,768 | €20,995 | +€227 | +1.1% |
| Other amounts payable | 47/48 | €19,386 | €49,304 | +€29,918 | +154% |
| Remuneration, social security and pensions | 62 | €164,063 | €142,078 | -€21,985 | -13.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €385 | €9,941 | +€9,556 | +2,480% |
| Other operating charges | 640/8 | €2,562 | €2,680 | +€119 | +4.6% |
| Non-recurring operating charges | 66A | - | €2,302 | +€2,302 | |
| Gross operating margin | 9900 | €201,301 | €179,434 | -€21,868 | -10.9% |
| Operating profit (loss) | 9901 | €34,291 | €22,432 | -€11,859 | -34.6% |
| Financial income | 75/76B | €1,750 | €1,750 | = | 0.0% |
| Recurring financial income | 75 | €1,750 | €1,750 | = | 0.0% |
| Financial charges | 65/66B | €4,621 | €4,582 | -€39 | -0.8% |
| Recurring financial charges | 65 | €4,621 | €4,582 | -€39 | -0.8% |
| Profit (loss) for the period before taxes | 9903 | €31,419 | €19,600 | -€11,820 | -37.6% |
| Income taxes | 67/77 | €8,236 | €5,007 | -€3,230 | -39.2% |
| Profit (loss) for the period | 9904 | €23,183 | €14,593 | -€8,590 | -37.1% |
| Profit (loss) for the period to be appropriated | 9905 | €23,183 | €14,593 | -€8,590 | -37.1% |
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 21 October 2026 via checked.be.