V.L.-TRANS: what changed
Two fiscal 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.-TRANS
Largest movements
- Cash +€27,382
up €27,382 (+66.9%), from €40,907 to €68,289
mainly Depreciation (+€31,870) and Net result for the year (+€21,144)
- Tangible fixed assets -€21,939
down €21,939 (-25.8%), from €84,878 to €62,939
of which Furniture and vehicles: -€18,696
- Receivables within one year -€6,306
down €6,306 (-28.5%), from €22,104 to €15,798
of which Trade receivables: -€6,213
- Deferred charges and accrued income +€2,859
up €2,859 (+103.1%), from €2,773 to €5,632
- Reserves +€12,986
up €12,986 (+11.1%), from €117,146 to €130,132
of which Distributable reserves: +€45,486
- Debts after one year -€6,150
down €6,150 (-100.0%), from €6,150 to €0
- Tax, wage and social debts -€4,497
down €4,497 (-62.1%), from €7,243 to €2,746
- Gross operating margin +€25,371
up €25,371 (+41.2%), from €61,539 to €86,910
- Taxes +€14,746
up €14,746 (+120.1%), from €12,273 to €27,019
- Other operating charges +€988
up €988 (+15.4%), from €6,393 to €7,381
- Depreciation +€949
up €949 (+3.1%), from €30,920 to €31,870
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 | €164,162 | €166,158 | +€1,996 | +1.2% |
| Fixed assets | 21/28 | €84,878 | €62,939 | -€21,939 | -25.8% |
| Tangible fixed assets | 22/27 | €84,878 | €62,939 | -€21,939 | -25.8% |
| Land and buildings | 22 | €9,663 | €6,822 | -€2,841 | -29.4% |
| Plant, machinery and equipment | 23 | €1,728 | €1,325 | -€403 | -23.3% |
| Furniture and vehicles | 24 | €73,487 | €54,792 | -€18,696 | -25.4% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €79,284 | €103,219 | +€23,935 | +30.2% |
| Amounts receivable within one year | 40/41 | €22,104 | €15,798 | -€6,306 | -28.5% |
| Trade receivables | 40 | €21,604 | €15,391 | -€6,213 | -28.8% |
| Other amounts receivable | 41 | €500 | €407 | -€93 | -18.6% |
| Current investments | 50/53 | €13,500 | €13,500 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €40,907 | €68,289 | +€27,382 | +66.9% |
| Deferred charges and accrued income | 490/1 | €2,773 | €5,632 | +€2,859 | +103.1% |
| Total equity and liabilities | 10/49 | €164,162 | €166,158 | +€1,996 | +1.2% |
| Equity | 10/15 | €135,738 | €148,724 | +€12,986 | +9.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €117,146 | €130,132 | +€12,986 | +11.1% |
| Tax-exempt reserves | 132 | €32,500 | €0 | -€32,500 | -100.0% |
| Distributable reserves | 133 | €84,646 | €130,132 | +€45,486 | +53.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €28,424 | €17,434 | -€10,990 | -38.7% |
| Amounts payable after more than one year | 17 | €6,150 | €0 | -€6,150 | -100.0% |
| Financial debts | 170/4 | €6,150 | €0 | -€6,150 | -100.0% |
| Amounts payable within one year | 42/48 | €22,122 | €17,434 | -€4,688 | -21.2% |
| Current portion of amounts payable after more than one year | 42 | €6,074 | €6,150 | +€76 | +1.3% |
| Trade debts | 44 | €6,536 | €6,871 | +€336 | +5.1% |
| Suppliers | 440/4 | €6,536 | €6,871 | +€336 | +5.1% |
| Taxes, remuneration and social security | 45 | €7,243 | €2,746 | -€4,497 | -62.1% |
| Taxes | 450/3 | €7,243 | €2,746 | -€4,497 | -62.1% |
| Other amounts payable | 47/48 | €2,269 | €1,666 | -€603 | -26.6% |
| Accrued charges and deferred income | 492/3 | €152 | €0 | -€152 | -100.0% |
| Remuneration, social security and pensions | 62 | €243 | - | -€243 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,920 | €31,870 | +€949 | +3.1% |
| Other operating charges | 640/8 | €6,393 | €7,381 | +€988 | +15.4% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €61,539 | €86,910 | +€25,371 | +41.2% |
| Operating profit (loss) | 9901 | €23,982 | €47,660 | +€23,678 | +98.7% |
| Financial income | 75/76B | €718 | €978 | +€260 | +36.2% |
| Recurring financial income | 75 | €718 | €978 | +€260 | +36.2% |
| Financial charges | 65/66B | €57 | €475 | +€417 | +726.1% |
| Recurring financial charges | 65 | €57 | €475 | +€417 | +726.1% |
| Profit (loss) for the period before taxes | 9903 | €24,643 | €48,163 | +€23,521 | +95.4% |
| Income taxes | 67/77 | €12,273 | €27,019 | +€14,746 | +120.1% |
| Profit (loss) for the period | 9904 | €12,369 | €21,144 | +€8,775 | +70.9% |
| Transfer from tax-exempt reserves | 789 | €15,000 | €32,500 | +€17,500 | +116.7% |
| Profit (loss) for the period to be appropriated | 9905 | €27,369 | €53,644 | +€26,275 | +96.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.