Top Vilvoorde: 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.
Top Vilvoorde
Largest movements
- Receivables within one year -€48,595
down €48,595 (-61.8%), from €78,659 to €30,064
of which Trade receivables: -€55,476
- Tangible fixed assets +€21,103
up €21,103 (+28.2%), from €74,713 to €95,815
- Intangible fixed assets -€3,990
no longer reported in 2025 (was €3,990)
- Cash -€2,077
down €2,077 (-75.2%), from €2,760 to €684
mainly Investment in fixed assets (net) (-€28,784) and Trade debts (-€27,459)
- Trade debts -€27,459
down €27,459 (-89.8%), from €30,563 to €3,104
- Profit (loss) carried forward -€17,130
down €17,130 (-14.0%), from -€122,149 to -€139,279
- Other debts +€11,030
up €11,030 (+10.8%), from €101,708 to €112,738
- Gross operating margin +€96,402
up €96,402 (+96.5%), from -€99,926 to -€3,524
- Depreciation +€4,283
up €4,283 (+58.0%), from €7,389 to €11,671
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 | €160,123 | €126,563 | -€33,560 | -21.0% |
| Fixed assets | 21/28 | €78,703 | €95,815 | +€17,112 | +21.7% |
| Intangible fixed assets | 21 | €3,990 | - | -€3,990 | |
| Tangible fixed assets | 22/27 | €74,713 | €95,815 | +€21,103 | +28.2% |
| Land and buildings | 22 | €74,713 | €95,815 | +€21,103 | +28.2% |
| Current assets | 29/58 | €81,420 | €30,748 | -€50,672 | -62.2% |
| Amounts receivable within one year | 40/41 | €78,659 | €30,064 | -€48,595 | -61.8% |
| Trade receivables | 40 | €55,476 | - | -€55,476 | |
| Other amounts receivable | 41 | €23,183 | €30,064 | +€6,881 | +29.7% |
| Cash at bank and in hand | 54/58 | €2,760 | €684 | -€2,077 | -75.2% |
| Total equity and liabilities | 10/49 | €160,123 | €126,563 | -€33,560 | -21.0% |
| Equity | 10/15 | €27,851 | €10,721 | -€17,130 | -61.5% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€122,149 | -€139,279 | -€17,130 | -14.0% |
| Amounts payable | 17/49 | €132,272 | €115,842 | -€16,429 | -12.4% |
| Amounts payable within one year | 42/48 | €132,272 | €115,842 | -€16,429 | -12.4% |
| Trade debts | 44 | €30,563 | €3,104 | -€27,459 | -89.8% |
| Suppliers | 440/4 | €30,563 | €3,104 | -€27,459 | -89.8% |
| Other amounts payable | 47/48 | €101,708 | €112,738 | +€11,030 | +10.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,389 | €11,671 | +€4,283 | +58.0% |
| Other operating charges | 640/8 | €125 | €125 | = | 0.0% |
| Gross operating margin | 9900 | -€99,926 | -€3,524 | +€96,402 | +96.5% |
| Operating profit (loss) | 9901 | -€107,439 | -€15,320 | +€92,119 | +85.7% |
| Financial charges | 65/66B | €1,628 | €1,810 | +€183 | +11.2% |
| Recurring financial charges | 65 | €1,628 | €1,810 | +€183 | +11.2% |
| Profit (loss) for the period before taxes | 9903 | -€109,067 | -€17,130 | +€91,937 | +84.3% |
| Profit (loss) for the period | 9904 | -€109,067 | -€17,130 | +€91,937 | +84.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€109,067 | -€17,130 | +€91,937 | +84.3% |
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 27 October 2026 via checked.be.