TRANSPORT VVL: what changed
TRANSPORT VVL
Largest movements
- Cash -€31,899
down €31,899 (-29.6%), from €107,934 to €76,036
mainly Investment in fixed assets (net) (-€81,583) and Receivables within one year (-€31,689)
- Receivables within one year +€31,689
up €31,689 (+31.8%), from €99,739 to €131,427
of which Trade receivables: +€21,825
- Tangible fixed assets +€16,352
up €16,352 (+4.8%), from €342,068 to €358,420
of which Furniture and vehicles: +€42,818
- Trade debts -€29,657
down €29,657 (-55.7%), from €53,204 to €23,547
- Current portion of long-term debt +€20,830
up €20,830 (+43.7%), from €47,700 to €68,530
- Debts after one year +€14,610
up €14,610 (+7.0%), from €207,420 to €222,030
- Reserves +€6,519
up €6,519 (+4.6%), from €142,654 to €149,173
- Gross operating margin +€39,762
up €39,762 (+11.0%), from €360,568 to €400,330
- Depreciation +€22,602
up €22,602 (+53.0%), from €42,629 to €65,232
- Staff costs +€20,854
up €20,854 (+8.7%), from €239,431 to €260,285
- Financial charges +€15,938
up €15,938 (+67.0%), from €23,788 to €39,726
of which Non-recurring financial charges: +€15,000
- Write-downs +€4,737
new in 2025: €4,737
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €564,075 | €576,071 | +€11,996 | +2.1% |
| Fixed assets | 21/28 | €342,068 | €358,420 | +€16,352 | +4.8% |
| Tangible fixed assets | 22/27 | €342,068 | €358,420 | +€16,352 | +4.8% |
| Land and buildings | 22 | €241,818 | €235,455 | -€6,364 | -2.6% |
| Plant, machinery and equipment | 23 | €2,329 | €295 | -€2,033 | -87.3% |
| Furniture and vehicles | 24 | €39,309 | €82,127 | +€42,818 | +109% |
| Leasing and similar rights | 25 | €58,613 | €40,544 | -€18,069 | -30.8% |
| Current assets | 29/58 | €222,007 | €217,651 | -€4,356 | -2.0% |
| Amounts receivable within one year | 40/41 | €99,739 | €131,427 | +€31,689 | +31.8% |
| Trade receivables | 40 | €83,064 | €104,889 | +€21,825 | +26.3% |
| Other amounts receivable | 41 | €16,675 | €26,538 | +€9,864 | +59.2% |
| Cash at bank and in hand | 54/58 | €107,934 | €76,036 | -€31,899 | -29.6% |
| Deferred charges and accrued income | 490/1 | €14,334 | €10,188 | -€4,146 | -28.9% |
| Total equity and liabilities | 10/49 | €564,075 | €576,071 | +€11,996 | +2.1% |
| Equity | 10/15 | €202,243 | €208,762 | +€6,519 | +3.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €142,654 | €149,173 | +€6,519 | +4.6% |
| Distributable reserves | 133 | €142,654 | €149,173 | +€6,519 | +4.6% |
| Profit (loss) carried forward | 14 | €40,989 | €40,989 | = | 0.0% |
| Amounts payable | 17/49 | €361,833 | €367,310 | +€5,477 | +1.5% |
| Amounts payable after more than one year | 17 | €207,420 | €222,030 | +€14,610 | +7.0% |
| Financial debts | 170/4 | €207,420 | €222,030 | +€14,610 | +7.0% |
| Amounts payable within one year | 42/48 | €153,885 | €144,460 | -€9,425 | -6.1% |
| Current portion of amounts payable after more than one year | 42 | €47,700 | €68,530 | +€20,830 | +43.7% |
| Trade debts | 44 | €53,204 | €23,547 | -€29,657 | -55.7% |
| Suppliers | 440/4 | €53,204 | €23,547 | -€29,657 | -55.7% |
| Taxes, remuneration and social security | 45 | €22,053 | €21,611 | -€442 | -2.0% |
| Taxes | 450/3 | €648 | €573 | -€75 | -11.6% |
| Remuneration and social security | 454/9 | €21,405 | €21,038 | -€367 | -1.7% |
| Other amounts payable | 47/48 | €30,928 | €30,772 | -€156 | -0.5% |
| Accrued charges and deferred income | 492/3 | €528 | €820 | +€292 | +55.2% |
| Remuneration, social security and pensions | 62 | €239,431 | €260,285 | +€20,854 | +8.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,629 | €65,232 | +€22,602 | +53.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €4,737 | +€4,737 | |
| Other operating charges | 640/8 | €8,258 | €11,191 | +€2,932 | +35.5% |
| Gross operating margin | 9900 | €360,568 | €400,330 | +€39,762 | +11.0% |
| Operating profit (loss) | 9901 | €70,249 | €58,886 | -€11,363 | -16.2% |
| Financial income | 75/76B | €0 | €0 | -€0 | -58.1% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -58.1% |
| Financial charges | 65/66B | €23,788 | €39,726 | +€15,938 | +67.0% |
| Recurring financial charges | 65 | €23,788 | €24,726 | +€938 | +3.9% |
| Non-recurring financial charges | 66B | - | €15,000 | +€15,000 | |
| Profit (loss) for the period before taxes | 9903 | €46,462 | €19,160 | -€27,302 | -58.8% |
| Income taxes | 67/77 | €12,912 | €10,975 | -€1,937 | -15.0% |
| Profit (loss) for the period | 9904 | €33,550 | €8,185 | -€25,365 | -75.6% |
| Profit (loss) for the period to be appropriated | 9905 | €33,550 | €8,185 | -€25,365 | -75.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.