V.L.C.: 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.
V.L.C.
Largest movements
- Cash +€5,473
up €5,473 (+87.9%), from €6,228 to €11,700
mainly Other debts (+€4,004) and Net result for the year (+€2,782)
- Receivables within one year +€1,139
up €1,139 (+135.0%), from €844 to €1,983
of which Trade receivables: +€1,983
- Deferred charges and accrued income -€394
down €394 (-46.8%), from €842 to €448
- Tangible fixed assets -€344
down €344 (-13.4%), from €2,562 to €2,217
of which Other tangible fixed assets: -€190
- Other debts +€4,004
up €4,004 (+49.5%), from €8,091 to €12,094
- Profit (loss) carried forward +€2,782
up €2,782 (+27.0%), from -€10,292 to -€7,510
- Trade debts -€1,045
down €1,045 (-39.9%), from €2,617 to €1,572
- Financial income +€18,000
new in 2025: €18,000
of which Financial income: +€18,000
- Gross operating margin -€9,410
down €9,410 (-281.3%), from -€3,345 to -€12,755
- Staff costs -€562
no longer reported in 2025 (was €562)
- Depreciation +€143
up €143 (+9.2%), from €1,550 to €1,692
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.
Cash bridge derived
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 | €10,476 | €16,349 | +€5,873 | +56.1% |
| Fixed assets | 21/28 | €2,562 | €2,217 | -€344 | -13.4% |
| Tangible fixed assets | 22/27 | €2,562 | €2,217 | -€344 | -13.4% |
| Furniture and vehicles | 24 | €2,304 | €2,149 | -€154 | -6.7% |
| Other tangible fixed assets | 26 | €258 | €68 | -€190 | -73.6% |
| Current assets | 29/58 | €7,914 | €14,131 | +€6,217 | +78.6% |
| Amounts receivable within one year | 40/41 | €844 | €1,983 | +€1,139 | +135.0% |
| Trade receivables | 40 | - | €1,983 | +€1,983 | |
| Other amounts receivable | 41 | €844 | - | -€844 | |
| Cash at bank and in hand | 54/58 | €6,228 | €11,700 | +€5,473 | +87.9% |
| Deferred charges and accrued income | 490/1 | €842 | €448 | -€394 | -46.8% |
| Total equity and liabilities | 10/49 | €10,476 | €16,349 | +€5,873 | +56.1% |
| Equity | 10/15 | -€2,232 | €550 | +€2,782 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,292 | -€7,510 | +€2,782 | +27.0% |
| Amounts payable | 17/49 | €12,708 | €15,798 | +€3,091 | +24.3% |
| Amounts payable within one year | 42/48 | €12,708 | €15,798 | +€3,091 | +24.3% |
| Trade debts | 44 | €2,617 | €1,572 | -€1,045 | -39.9% |
| Suppliers | 440/4 | €2,617 | €1,572 | -€1,045 | -39.9% |
| Taxes, remuneration and social security | 45 | €2,000 | €2,132 | +€132 | +6.6% |
| Taxes | 450/3 | - | €132 | +€132 | |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | €8,091 | €12,094 | +€4,004 | +49.5% |
| Remuneration, social security and pensions | 62 | €562 | - | -€562 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,550 | €1,692 | +€143 | +9.2% |
| Other operating charges | 640/8 | €528 | €544 | +€16 | +3.0% |
| Gross operating margin | 9900 | -€3,345 | -€12,755 | -€9,410 | -281.3% |
| Operating profit (loss) | 9901 | -€5,985 | -€14,991 | -€9,006 | -150.5% |
| Financial income | 75/76B | - | €18,000 | +€18,000 | |
| Recurring financial income | 75 | - | €18,000 | +€18,000 | |
| Non-recurring financial income | 76B | - | €18,000 | +€18,000 | |
| Financial charges | 65/66B | €131 | €94 | -€37 | -28.1% |
| Recurring financial charges | 65 | €131 | €94 | -€37 | -28.1% |
| Profit (loss) for the period before taxes | 9903 | -€6,116 | €2,914 | +€9,030 | |
| Income taxes | 67/77 | €156 | €132 | -€24 | -15.5% |
| Profit (loss) for the period | 9904 | -€6,272 | €2,782 | +€9,055 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,272 | €2,782 | +€9,055 |
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 12 October 2026 via checked.be.