VF BIKE: 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.
VF BIKE
Largest movements
- Tangible fixed assets +€614,530
up €614,530 (+72.4%), from €848,714 to €1.5m
of which Land and buildings: +€616,856
- Stocks and contracts -€120,611
down €120,611 (-19.2%), from €629,459 to €508,849
- Deferred charges and accrued income +€44,982
up €44,982 (+1,376%), from €3,268 to €48,250
- Cash +€22,339
up €22,339 (+200%), from €11,156 to €33,495
mainly Debts after one year (+€526,599) and Stocks and contracts (+€120,611)
- Debts after one year +€526,599
up €526,599 (+74.4%), from €708,082 to €1.2m
of which Financial debts: +€525,479
- Reserves +€169,132
up €169,132 (+103%), from €164,860 to €333,992
of which Distributable reserves: +€169,132
- Profit (loss) carried forward -€101,507
no longer reported in 2024 (was €101,507)
- Short-term financial debts -€70,000
down €70,000 (-46.7%), from €150,000 to €80,000
- Current portion of long-term debt +€36,734
up €36,734 (+61.9%), from €59,347 to €96,081
- Financial income +€116,474
up €116,474 (+1,035,323%), from €11 to €116,485
- Staff costs +€59,361
up €59,361 (+55.0%), from €107,877 to €167,239
- Other operating charges +€38,159
up €38,159 (+5,228%), from €730 to €38,889
- Depreciation +€24,627
up €24,627 (+100%), from €24,615 to €49,242
- Taxes +€21,167
up €21,167 (+364%), from €5,811 to €26,978
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,553,170 | €2,093,606 | +€540,436 | +34.8% |
| Fixed assets | 21/28 | €848,714 | €1,463,244 | +€614,530 | +72.4% |
| Tangible fixed assets | 22/27 | €848,714 | €1,463,244 | +€614,530 | +72.4% |
| Land and buildings | 22 | €835,149 | €1,452,005 | +€616,856 | +73.9% |
| Plant, machinery and equipment | 23 | €12,111 | €8,766 | -€3,344 | -27.6% |
| Furniture and vehicles | 24 | €1,454 | €2,472 | +€1,018 | +70.0% |
| Current assets | 29/58 | €704,456 | €630,362 | -€74,094 | -10.5% |
| Stocks and contracts in progress | 3 | €629,459 | €508,849 | -€120,611 | -19.2% |
| Stocks | 30/36 | €629,459 | €508,849 | -€120,611 | -19.2% |
| Amounts receivable within one year | 40/41 | €60,572 | €39,769 | -€20,803 | -34.3% |
| Trade receivables | 40 | €33,248 | €27,693 | -€5,555 | -16.7% |
| Other amounts receivable | 41 | €27,324 | €12,076 | -€15,248 | -55.8% |
| Cash at bank and in hand | 54/58 | €11,156 | €33,495 | +€22,339 | +200% |
| Deferred charges and accrued income | 490/1 | €3,268 | €48,250 | +€44,982 | +1,376% |
| Total equity and liabilities | 10/49 | €1,553,170 | €2,093,606 | +€540,436 | +34.8% |
| Equity | 10/15 | €272,567 | €340,192 | +€67,626 | +24.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €164,860 | €333,992 | +€169,132 | +103% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €163,000 | €332,132 | +€169,132 | +104% |
| Profit (loss) carried forward | 14 | €101,507 | - | -€101,507 | |
| Amounts payable | 17/49 | €1,280,603 | €1,753,414 | +€472,811 | +36.9% |
| Amounts payable after more than one year | 17 | €708,082 | €1,234,681 | +€526,599 | +74.4% |
| Financial debts | 170/4 | €708,082 | €1,233,561 | +€525,479 | +74.2% |
| Other amounts payable | 178/9 | - | €1,120 | +€1,120 | |
| Amounts payable within one year | 42/48 | €572,521 | €518,733 | -€53,788 | -9.4% |
| Current portion of amounts payable after more than one year | 42 | €59,347 | €96,081 | +€36,734 | +61.9% |
| Financial debts | 43 | €150,000 | €80,000 | -€70,000 | -46.7% |
| Credit institutions | 430/8 | €150,000 | €80,000 | -€70,000 | -46.7% |
| Trade debts | 44 | €77,183 | €71,869 | -€5,314 | -6.9% |
| Suppliers | 440/4 | €77,183 | €71,869 | -€5,314 | -6.9% |
| Taxes, remuneration and social security | 45 | €90,345 | €108,709 | +€18,364 | +20.3% |
| Taxes | 450/3 | €72,888 | €79,839 | +€6,951 | +9.5% |
| Remuneration and social security | 454/9 | €17,457 | €28,870 | +€11,413 | +65.4% |
| Other amounts payable | 47/48 | €195,646 | €162,073 | -€33,573 | -17.2% |
| Remuneration, social security and pensions | 62 | €107,877 | €167,239 | +€59,361 | +55.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,615 | €49,242 | +€24,627 | +100% |
| Other operating charges | 640/8 | €730 | €38,889 | +€38,159 | +5,228% |
| Gross operating margin | 9900 | €234,168 | €243,163 | +€8,995 | +3.8% |
| Operating profit (loss) | 9901 | €100,946 | -€12,206 | -€113,152 | |
| Financial income | 75/76B | €11 | €116,485 | +€116,474 | +1,035,323% |
| Recurring financial income | 75 | €11 | €116,485 | +€116,474 | +1,035,323% |
| Financial charges | 65/66B | €32,256 | €39,925 | +€7,669 | +23.8% |
| Recurring financial charges | 65 | €32,256 | €39,925 | +€7,669 | +23.8% |
| Profit (loss) for the period before taxes | 9903 | €68,701 | €64,354 | -€4,347 | -6.3% |
| Income taxes | 67/77 | €5,811 | €26,978 | +€21,167 | +364% |
| Profit (loss) for the period | 9904 | €62,890 | €37,376 | -€25,514 | -40.6% |
| Profit (loss) for the period to be appropriated | 9905 | €62,890 | €37,376 | -€25,514 | -40.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.