V.L.S. & 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.S. & C°
Largest movements
- Tangible fixed assets +€3,736
up €3,736 (+7.5%), from €49,623 to €53,359
of which Land and buildings: +€3,943
- Cash -€622
down €622 (-83.3%), from €748 to €125
mainly Investment in fixed assets (net) (-€6,990)
- Other debts +€1,530
up €1,530 (+6,405%), from €24 to €1,553
- Trade debts +€1,319
new in 2025: €1,319
- Gross operating margin -€2,799
down €2,799 (-33.0%), from €8,493 to €5,694
- Depreciation -€2,361
down €2,361 (-42.0%), from €5,615 to €3,254
- Financial charges -€180
down €180 (-80.0%), from €225 to €45
- Other operating charges -€132
down €132 (-5.8%), from €2,263 to €2,130
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 | €50,371 | €53,484 | +€3,113 | +6.2% |
| Fixed assets | 21/28 | €49,623 | €53,359 | +€3,736 | +7.5% |
| Tangible fixed assets | 22/27 | €49,623 | €53,359 | +€3,736 | +7.5% |
| Land and buildings | 22 | €49,416 | €53,359 | +€3,943 | +8.0% |
| Plant, machinery and equipment | 23 | €208 | €0 | -€208 | -100% |
| Current assets | 29/58 | €748 | €125 | -€622 | -83.3% |
| Cash at bank and in hand | 54/58 | €748 | €125 | -€622 | -83.3% |
| Total equity and liabilities | 10/49 | €50,371 | €53,484 | +€3,113 | +6.2% |
| Equity | 10/15 | €50,347 | €50,612 | +€265 | +0.5% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Contributions outside capital | 11 | €61,973 | €61,973 | = | 0.0% |
| Other | 1109/19 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €6,197 | €6,197 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,197 | €6,197 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€17,824 | -€17,559 | +€265 | +1.5% |
| Amounts payable | 17/49 | €24 | €2,872 | +€2,849 | +11,928% |
| Amounts payable within one year | 42/48 | €24 | €2,872 | +€2,849 | +11,928% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | - | €1,319 | +€1,319 | |
| Suppliers | 440/4 | - | €1,319 | +€1,319 | |
| Other amounts payable | 47/48 | €24 | €1,553 | +€1,530 | +6,405% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,615 | €3,254 | -€2,361 | -42.0% |
| Other operating charges | 640/8 | €2,263 | €2,130 | -€132 | -5.8% |
| Gross operating margin | 9900 | €8,493 | €5,694 | -€2,799 | -33.0% |
| Operating profit (loss) | 9901 | €616 | €310 | -€306 | -49.7% |
| Financial charges | 65/66B | €225 | €45 | -€180 | -80.0% |
| Recurring financial charges | 65 | €225 | €45 | -€180 | -80.0% |
| Profit (loss) for the period before taxes | 9903 | €391 | €265 | -€126 | -32.2% |
| Profit (loss) for the period | 9904 | €391 | €265 | -€126 | -32.2% |
| Profit (loss) for the period to be appropriated | 9905 | €391 | €265 | -€126 | -32.2% |
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 30 October 2026 via checked.be.