VDS-LEFLOT: 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.
VDS-LEFLOT
Largest movements
- Tangible fixed assets +€525,201
up €525,201 (+89.6%), from €586,386 to €1.1m
of which Land and buildings: +€525,201
- Financial fixed assets +€11,500
up €11,500 (+4,600%), from €250 to €11,750
- Debts after one year +€489,718
up €489,718 (+159%), from €307,275 to €796,993
- Other debts +€49,220
up €49,220 (+20.1%), from €244,757 to €293,977
- Gross operating margin -€6,601
down €6,601 (-12.0%), from €55,019 to €48,418
- Financial charges +€2,672
up €2,672 (+23.0%), from €11,611 to €14,283
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 | €601,453 | €1,132,662 | +€531,209 | +88.3% |
| Fixed assets | 21/28 | €586,636 | €1,123,337 | +€536,701 | +91.5% |
| Tangible fixed assets | 22/27 | €586,386 | €1,111,587 | +€525,201 | +89.6% |
| Land and buildings | 22 | €586,386 | €1,111,587 | +€525,201 | +89.6% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €250 | €11,750 | +€11,500 | +4,600% |
| Current assets | 29/58 | €14,816 | €9,325 | -€5,492 | -37.1% |
| Amounts receivable within one year | 40/41 | €484 | €1,976 | +€1,492 | +308% |
| Trade receivables | 40 | €484 | €484 | = | 0.0% |
| Other amounts receivable | 41 | - | €1,492 | +€1,492 | |
| Cash at bank and in hand | 54/58 | €13,104 | €6,088 | -€7,015 | -53.5% |
| Deferred charges and accrued income | 490/1 | €1,229 | €1,260 | +€32 | +2.6% |
| Total equity and liabilities | 10/49 | €601,453 | €1,132,662 | +€531,209 | +88.3% |
| Equity | 10/15 | -€10,384 | -€19,353 | -€8,969 | -86.4% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€70,384 | -€79,353 | -€8,969 | -12.7% |
| Amounts payable | 17/49 | €611,836 | €1,152,014 | +€540,178 | +88.3% |
| Amounts payable after more than one year | 17 | €307,275 | €796,993 | +€489,718 | +159% |
| Financial debts | 170/4 | €307,275 | €796,993 | +€489,718 | +159% |
| Amounts payable within one year | 42/48 | €304,561 | €355,021 | +€50,460 | +16.6% |
| Current portion of amounts payable after more than one year | 42 | €45,679 | €46,108 | +€430 | +0.9% |
| Trade debts | 44 | €184 | €994 | +€810 | +440% |
| Suppliers | 440/4 | €184 | €994 | +€810 | +440% |
| Advances received on contracts in progress | 46 | €7,502 | €0 | -€7,502 | -100% |
| Taxes, remuneration and social security | 45 | €6,439 | €13,941 | +€7,502 | +117% |
| Taxes | 450/3 | €5,056 | €11,558 | +€6,502 | +129% |
| Remuneration and social security | 454/9 | €1,383 | €2,383 | +€1,000 | +72.3% |
| Other amounts payable | 47/48 | €244,757 | €293,977 | +€49,220 | +20.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,652 | €41,025 | +€373 | +0.9% |
| Other operating charges | 640/8 | €1,906 | €2,078 | +€172 | +9.0% |
| Gross operating margin | 9900 | €55,019 | €48,418 | -€6,601 | -12.0% |
| Operating profit (loss) | 9901 | €12,460 | €5,314 | -€7,146 | -57.3% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €11,611 | €14,283 | +€2,672 | +23.0% |
| Recurring financial charges | 65 | €11,611 | €14,283 | +€2,672 | +23.0% |
| Profit (loss) for the period before taxes | 9903 | €849 | -€8,969 | -€9,818 | |
| Profit (loss) for the period | 9904 | €849 | -€8,969 | -€9,818 | |
| Profit (loss) for the period to be appropriated | 9905 | €849 | -€8,969 | -€9,818 |
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 26 October 2026 via checked.be.