VGL² Car Solutions: 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.
VGL² Car Solutions
Largest movements
- Cash -€24,504
down €24,504 (-100%), from €24,504 to €0
mainly Net result for the year (-€22,749) and Tax, wage and social debts (-€14,699)
- Stocks and contracts -€12,519
down €12,519 (-47.2%), from €26,495 to €13,977
- Deferred charges and accrued income +€11,308
up €11,308, from €0 to €11,308
- Receivables within one year +€10,736
up €10,736 (+23.4%), from €45,826 to €56,562
of which Trade receivables: +€11,711
- Intangible fixed assets -€7,901
down €7,901 (-14.5%), from €54,606 to €46,705
- Profit (loss) carried forward -€20,498
new in 2025: -€20,498
- Short-term financial debts +€18,139
new in 2025: €18,139
- Tax, wage and social debts -€14,699
down €14,699 (-56.8%), from €25,870 to €11,171
of which Taxes: -€14,728
- Debts after one year -€9,174
down €9,174 (-27.2%), from €33,717 to €24,543
- Reserves -€2,250
down €2,250 (-100%), from €2,250 to €0
- Gross operating margin -€10,290
down €10,290, from €9,702 to -€588
- Financial charges +€2,488
up €2,488 (+54.6%), from €4,558 to €7,046
- Financial income -€1,844
down €1,844 (-91.3%), from €2,019 to €175
- Depreciation -€1,829
down €1,829 (-15.6%), from €11,713 to €9,885
- Other operating charges +€1,558
up €1,558 (+251%), from €621 to €2,179
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 | €159,689 | €134,452 | -€25,237 | -15.8% |
| Fixed assets | 21/28 | €62,863 | €52,605 | -€10,257 | -16.3% |
| Intangible fixed assets | 21 | €54,606 | €46,705 | -€7,901 | -14.5% |
| Tangible fixed assets | 22/27 | €8,257 | €5,900 | -€2,357 | -28.5% |
| Plant, machinery and equipment | 23 | €8,257 | €5,900 | -€2,357 | -28.5% |
| Current assets | 29/58 | €96,826 | €81,847 | -€14,979 | -15.5% |
| Stocks and contracts in progress | 3 | €26,495 | €13,977 | -€12,519 | -47.2% |
| Stocks | 30/36 | €26,495 | €13,977 | -€12,519 | -47.2% |
| Amounts receivable within one year | 40/41 | €45,826 | €56,562 | +€10,736 | +23.4% |
| Trade receivables | 40 | €44,049 | €55,760 | +€11,711 | +26.6% |
| Other amounts receivable | 41 | €1,777 | €802 | -€975 | -54.9% |
| Cash at bank and in hand | 54/58 | €24,504 | €0 | -€24,504 | -100% |
| Deferred charges and accrued income | 490/1 | €0 | €11,308 | +€11,308 | |
| Total equity and liabilities | 10/49 | €159,689 | €134,452 | -€25,237 | -15.8% |
| Equity | 10/15 | €13,500 | -€9,248 | -€22,749 | |
| Contributions | 10/11 | €11,250 | €11,250 | = | 0.0% |
| Reserves | 13 | €2,250 | €0 | -€2,250 | -100% |
| Distributable reserves | 133 | €2,250 | €0 | -€2,250 | -100% |
| Profit (loss) carried forward | 14 | - | -€20,498 | -€20,498 | |
| Amounts payable | 17/49 | €146,188 | €143,700 | -€2,488 | -1.7% |
| Amounts payable after more than one year | 17 | €33,717 | €24,543 | -€9,174 | -27.2% |
| Financial debts | 170/4 | €33,717 | €24,543 | -€9,174 | -27.2% |
| Amounts payable within one year | 42/48 | €112,471 | €119,157 | +€6,686 | +5.9% |
| Current portion of amounts payable after more than one year | 42 | €8,998 | €9,174 | +€177 | +2.0% |
| Financial debts | 43 | - | €18,139 | +€18,139 | |
| Credit institutions | 430/8 | - | €18,139 | +€18,139 | |
| Trade debts | 44 | €77,603 | €79,471 | +€1,867 | +2.4% |
| Suppliers | 440/4 | €77,603 | €79,471 | +€1,867 | +2.4% |
| Advances received on contracts in progress | 46 | - | €1,202 | +€1,202 | |
| Taxes, remuneration and social security | 45 | €25,870 | €11,171 | -€14,699 | -56.8% |
| Taxes | 450/3 | €22,488 | €7,759 | -€14,728 | -65.5% |
| Remuneration and social security | 454/9 | €3,382 | €3,412 | +€29 | +0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,713 | €9,885 | -€1,829 | -15.6% |
| Other operating charges | 640/8 | €621 | €2,179 | +€1,558 | +251% |
| Non-recurring operating charges | 66A | - | €2,826 | +€2,826 | |
| Gross operating margin | 9900 | €9,702 | -€588 | -€10,290 | |
| Operating profit (loss) | 9901 | -€2,632 | -€15,478 | -€12,846 | -488% |
| Financial income | 75/76B | €2,019 | €175 | -€1,844 | -91.3% |
| Recurring financial income | 75 | €2,019 | €175 | -€1,844 | -91.3% |
| Financial charges | 65/66B | €4,558 | €7,046 | +€2,488 | +54.6% |
| Recurring financial charges | 65 | €4,558 | €7,046 | +€2,488 | +54.6% |
| Profit (loss) for the period before taxes | 9903 | -€5,171 | -€22,349 | -€17,178 | -332% |
| Income taxes | 67/77 | €176 | €400 | +€224 | +128% |
| Profit (loss) for the period | 9904 | -€5,347 | -€22,749 | -€17,402 | -325% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,347 | -€22,749 | -€17,402 | -325% |
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 21 October 2026 via checked.be.