V.L. CONSEIL: 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. CONSEIL
Largest movements
- Current investments +€175,000
new in 2025: €175,000
- Cash -€83,183
down €83,183 (-70.2%), from €118,529 to €35,347
mainly Contributions, distributions and other (-€275,847) and Current investments (-€175,000)
- Receivables within one year +€80,463
up €80,463 (+346%), from €23,227 to €103,690
of which Other amounts receivable: +€79,370
- Tangible fixed assets +€45,079
up €45,079 (+1,048%), from €4,301 to €49,380
- Financial fixed assets +€44,600
up €44,600 (+39.9%), from €111,650 to €156,250
- Other debts +€232,366
up €232,366 (+533%), from €43,571 to €275,937
- Debts after one year +€18,152
up €18,152 (+34.4%), from €52,814 to €70,966
- Current portion of long-term debt +€8,755
up €8,755 (+78.6%), from €11,142 to €19,897
- Financial income +€188,255
up €188,255 (+386%), from €48,806 to €237,061
- Gross operating margin +€29,778
up €29,778 (+82.3%), from €36,192 to €65,970
- Taxes +€3,952
up €3,952 (+42.7%), from €9,259 to €13,211
- Depreciation +€3,795
up €3,795 (+56.5%), from €6,712 to €10,507
- Financial charges +€1,423
up €1,423 (+152%), from €933 to €2,356
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 | €258,649 | €520,008 | +€261,359 | +101% |
| Formation expenses | 20 | €128 | - | -€128 | |
| Fixed assets | 21/28 | €115,951 | €205,630 | +€89,679 | +77.3% |
| Tangible fixed assets | 22/27 | €4,301 | €49,380 | +€45,079 | +1,048% |
| Furniture and vehicles | 24 | €4,301 | €49,380 | +€45,079 | +1,048% |
| Financial fixed assets | 28 | €111,650 | €156,250 | +€44,600 | +39.9% |
| Current assets | 29/58 | €142,570 | €314,378 | +€171,809 | +121% |
| Amounts receivable within one year | 40/41 | €23,227 | €103,690 | +€80,463 | +346% |
| Trade receivables | 40 | €11,844 | €12,937 | +€1,093 | +9.2% |
| Other amounts receivable | 41 | €11,383 | €90,753 | +€79,370 | +697% |
| Current investments | 50/53 | - | €175,000 | +€175,000 | |
| Cash at bank and in hand | 54/58 | €118,529 | €35,347 | -€83,183 | -70.2% |
| Deferred charges and accrued income | 490/1 | €814 | €342 | -€472 | -57.9% |
| Total equity and liabilities | 10/49 | €258,649 | €520,008 | +€261,359 | +101% |
| Equity | 10/15 | €148,498 | €148,498 | = | 0.0% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €142,498 | €142,498 | = | 0.0% |
| Distributable reserves | 133 | €142,498 | €142,498 | = | 0.0% |
| Amounts payable | 17/49 | €110,151 | €371,510 | +€261,359 | +237% |
| Amounts payable after more than one year | 17 | €52,814 | €70,966 | +€18,152 | +34.4% |
| Financial debts | 170/4 | €52,814 | €70,966 | +€18,152 | +34.4% |
| Amounts payable within one year | 42/48 | €57,337 | €300,544 | +€243,207 | +424% |
| Current portion of amounts payable after more than one year | 42 | €11,142 | €19,897 | +€8,755 | +78.6% |
| Trade debts | 44 | - | €2,053 | +€2,053 | |
| Suppliers | 440/4 | - | €2,053 | +€2,053 | |
| Taxes, remuneration and social security | 45 | €2,624 | €2,657 | +€34 | +1.3% |
| Remuneration and social security | 454/9 | €2,624 | €2,657 | +€34 | +1.3% |
| Other amounts payable | 47/48 | €43,571 | €275,937 | +€232,366 | +533% |
| Non-recurring operating income | 76A | - | €7,231 | +€7,231 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,712 | €10,507 | +€3,795 | +56.5% |
| Other operating charges | 640/8 | €994 | €1,110 | +€117 | +11.8% |
| Gross operating margin | 9900 | €36,192 | €65,970 | +€29,778 | +82.3% |
| Operating profit (loss) | 9901 | €28,486 | €54,353 | +€25,867 | +90.8% |
| Financial income | 75/76B | €48,806 | €237,061 | +€188,255 | +386% |
| Recurring financial income | 75 | €48,806 | €237,061 | +€188,255 | +386% |
| Financial charges | 65/66B | €933 | €2,356 | +€1,423 | +152% |
| Recurring financial charges | 65 | €933 | €2,356 | +€1,423 | +152% |
| Profit (loss) for the period before taxes | 9903 | €76,360 | €289,058 | +€212,699 | +279% |
| Income taxes | 67/77 | €9,259 | €13,211 | +€3,952 | +42.7% |
| Profit (loss) for the period | 9904 | €67,101 | €275,847 | +€208,747 | +311% |
| Profit (loss) for the period to be appropriated | 9905 | €67,101 | €275,847 | +€208,747 | +311% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.