VGL EVENTS: 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.
VGL EVENTS
Largest movements
- Cash +€15,328
up €15,328 (+758%), from €2,022 to €17,350
mainly Tax, wage and social debts (+€7,504) and Net result for the year (+€6,870)
- Receivables within one year +€9,677
up €9,677 (+75.4%), from €12,829 to €22,506
of which Other amounts receivable: +€7,073
- Tangible fixed assets -€5,973
down €5,973 (-27.2%), from €21,980 to €16,007
of which Plant, machinery and equipment: -€5,385
- Deferred charges and accrued income -€3,622
down €3,622 (-93.2%), from €3,886 to €264
- Financial fixed assets +€1,050
new in 2025: €1,050
- Tax, wage and social debts +€7,504
up €7,504 (+97.7%), from €7,676 to €15,180
- Reserves +€6,870
up €6,870 (+49.9%), from €13,764 to €20,634
- Trade debts +€4,144
up €4,144 (+136%), from €3,042 to €7,186
- Debts after one year -€2,083
down €2,083 (-32.8%), from €6,345 to €4,261
- Gross operating margin +€9,970
up €9,970 (+136%), from €7,356 to €17,326
- Depreciation +€1,540
up €1,540 (+34.7%), from €4,433 to €5,973
- Taxes +€1,102
up €1,102 (+108%), from €1,021 to €2,123
- Financial charges +€1,093
up €1,093 (+163%), from €669 to €1,763
- Other operating charges +€949
new in 2025: €949
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 | €40,717 | €57,177 | +€16,460 | +40.4% |
| Fixed assets | 21/28 | €21,980 | €17,057 | -€4,923 | -22.4% |
| Tangible fixed assets | 22/27 | €21,980 | €16,007 | -€5,973 | -27.2% |
| Plant, machinery and equipment | 23 | €20,484 | €15,099 | -€5,385 | -26.3% |
| Furniture and vehicles | 24 | €1,496 | €908 | -€588 | -39.3% |
| Financial fixed assets | 28 | - | €1,050 | +€1,050 | |
| Current assets | 29/58 | €18,737 | €40,120 | +€21,383 | +114% |
| Amounts receivable within one year | 40/41 | €12,829 | €22,506 | +€9,677 | +75.4% |
| Trade receivables | 40 | €97 | €2,700 | +€2,603 | +2,689% |
| Other amounts receivable | 41 | €12,732 | €19,806 | +€7,073 | +55.6% |
| Cash at bank and in hand | 54/58 | €2,022 | €17,350 | +€15,328 | +758% |
| Deferred charges and accrued income | 490/1 | €3,886 | €264 | -€3,622 | -93.2% |
| Total equity and liabilities | 10/49 | €40,717 | €57,177 | +€16,460 | +40.4% |
| Equity | 10/15 | €16,764 | €23,634 | +€6,870 | +41.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €13,764 | €20,634 | +€6,870 | +49.9% |
| Distributable reserves | 133 | €13,764 | €20,634 | +€6,870 | +49.9% |
| Amounts payable | 17/49 | €23,953 | €33,543 | +€9,590 | +40.0% |
| Amounts payable after more than one year | 17 | €6,345 | €4,261 | -€2,083 | -32.8% |
| Financial debts | 170/4 | €6,345 | €4,261 | -€2,083 | -32.8% |
| Amounts payable within one year | 42/48 | €12,711 | €24,449 | +€11,738 | +92.3% |
| Current portion of amounts payable after more than one year | 42 | €1,993 | €2,083 | +€91 | +4.5% |
| Trade debts | 44 | €3,042 | €7,186 | +€4,144 | +136% |
| Suppliers | 440/4 | €3,042 | €7,186 | +€4,144 | +136% |
| Taxes, remuneration and social security | 45 | €7,676 | €15,180 | +€7,504 | +97.7% |
| Taxes | 450/3 | €7,676 | €15,180 | +€7,504 | +97.7% |
| Accrued charges and deferred income | 492/3 | €4,898 | €4,833 | -€65 | -1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,433 | €5,973 | +€1,540 | +34.7% |
| Other operating charges | 640/8 | - | €949 | +€949 | |
| Gross operating margin | 9900 | €7,356 | €17,326 | +€9,970 | +136% |
| Operating profit (loss) | 9901 | €2,924 | €10,404 | +€7,481 | +256% |
| Financial income | 75/76B | €26 | €351 | +€325 | +1,240% |
| Recurring financial income | 75 | €26 | €351 | +€325 | +1,240% |
| Financial charges | 65/66B | €669 | €1,763 | +€1,093 | +163% |
| Recurring financial charges | 65 | €669 | €1,763 | +€1,093 | +163% |
| Profit (loss) for the period before taxes | 9903 | €2,280 | €8,993 | +€6,712 | +294% |
| Income taxes | 67/77 | €1,021 | €2,123 | +€1,102 | +108% |
| Profit (loss) for the period | 9904 | €1,259 | €6,870 | +€5,611 | +446% |
| Profit (loss) for the period to be appropriated | 9905 | €1,259 | €6,870 | +€5,611 | +446% |
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 17 October 2026 via checked.be.