VILERGER: 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.
VILERGER
Largest movements
- Tangible fixed assets -€321,911
down €321,911 (-51.1%), from €630,407 to €308,495
of which Land and buildings: -€319,457
- Financial fixed assets -€250,000
down €250,000 (-6.7%), from €3.7m to €3.5m
- Cash +€142,114
up €142,114 (+9.0%), from €1.6m to €1.7m
mainly Net result for the year (+€2.2m) and Investment in fixed assets (net) (+€546,646)
- Receivables within one year -€92,059
down €92,059 (-59.2%), from €155,570 to €63,511
of which Other amounts receivable: -€106,249
- Other debts -€2.3m
down €2.3m (-79.4%), from €2.9m to €600,000
- Reserves +€1.6m
up €1.6m (+61.8%), from €2.6m to €4.2m
of which Distributable reserves: +€1.8m
- Tax, wage and social debts +€279,572
up €279,572 (+101%), from €276,907 to €556,479
- Gross operating margin -€340,056
down €340,056 (-9.6%), from €3.6m to €3.2m
- Financial charges -€75,255
down €75,255 (-99.3%), from €75,804 to €549
of which Non-recurring financial charges: -€74,798
- Depreciation -€73,745
down €73,745 (-74.5%), from €99,011 to €25,266
- Taxes -€59,511
down €59,511 (-5.6%), from €1.1m to €998,999
- Financial income +€44,038
up €44,038 (+903%), from €4,875 to €48,913
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 | €6,099,970 | €5,572,188 | -€527,782 | -8.7% |
| Fixed assets | 21/28 | €4,352,128 | €3,780,217 | -€571,911 | -13.1% |
| Tangible fixed assets | 22/27 | €630,407 | €308,495 | -€321,911 | -51.1% |
| Land and buildings | 22 | €625,829 | €306,372 | -€319,457 | -51.0% |
| Furniture and vehicles | 24 | €4,577 | €2,123 | -€2,454 | -53.6% |
| Financial fixed assets | 28 | €3,721,721 | €3,471,721 | -€250,000 | -6.7% |
| Current assets | 29/58 | €1,747,842 | €1,791,972 | +€44,129 | +2.5% |
| Amounts receivable within one year | 40/41 | €155,570 | €63,511 | -€92,059 | -59.2% |
| Trade receivables | 40 | €2,411 | €16,600 | +€14,190 | +589% |
| Other amounts receivable | 41 | €153,159 | €46,911 | -€106,249 | -69.4% |
| Cash at bank and in hand | 54/58 | €1,583,878 | €1,725,993 | +€142,114 | +9.0% |
| Deferred charges and accrued income | 490/1 | €8,394 | €2,468 | -€5,926 | -70.6% |
| Total equity and liabilities | 10/49 | €6,099,970 | €5,572,188 | -€527,782 | -8.7% |
| Equity | 10/15 | €2,812,553 | €4,401,596 | +€1.6m | +56.5% |
| Contributions | 10/11 | €243,010 | €243,010 | = | 0.0% |
| Capital | 10 | €243,010 | €243,010 | = | 0.0% |
| Issued capital | 100 | €243,010 | €243,010 | = | 0.0% |
| Reserves | 13 | €2,569,543 | €4,158,586 | +€1.6m | +61.8% |
| Non-distributable reserves | 130/1 | €208,500 | €24,301 | -€184,199 | -88.3% |
| Legal reserve | 130 | €208,500 | €24,301 | -€184,199 | -88.3% |
| Tax-exempt reserves | 132 | €25,036 | €14,379 | -€10,657 | -42.6% |
| Distributable reserves | 133 | €2,336,007 | €4,119,905 | +€1.8m | +76.4% |
| Provisions and deferred taxes | 16 | €3,533 | €0 | -€3,533 | -100% |
| Deferred taxes | 168 | €3,533 | €0 | -€3,533 | -100% |
| Amounts payable | 17/49 | €3,283,884 | €1,170,593 | -€2.1m | -64.4% |
| Amounts payable after more than one year | 17 | €23,130 | €5,720 | -€17,410 | -75.3% |
| Other amounts payable | 178/9 | €23,130 | €5,720 | -€17,410 | -75.3% |
| Amounts payable within one year | 42/48 | €3,199,711 | €1,163,948 | -€2.0m | -63.6% |
| Trade debts | 44 | €9,070 | €7,469 | -€1,601 | -17.7% |
| Suppliers | 440/4 | €9,070 | €7,469 | -€1,601 | -17.7% |
| Taxes, remuneration and social security | 45 | €276,907 | €556,479 | +€279,572 | +101% |
| Taxes | 450/3 | €276,907 | €556,479 | +€279,572 | +101% |
| Other amounts payable | 47/48 | €2,913,735 | €600,000 | -€2.3m | -79.4% |
| Accrued charges and deferred income | 492/3 | €61,043 | €925 | -€60,118 | -98.5% |
| Non-recurring operating income | 76A | €3,270,662 | €3,226,303 | -€44,359 | -1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €99,011 | €25,266 | -€73,745 | -74.5% |
| Other operating charges | 640/8 | €47,865 | €27,235 | -€20,630 | -43.1% |
| Non-recurring operating charges | 66A | - | €27,846 | +€27,846 | |
| Gross operating margin | 9900 | €3,556,548 | €3,216,491 | -€340,056 | -9.6% |
| Operating profit (loss) | 9901 | €3,409,671 | €3,136,144 | -€273,527 | -8.0% |
| Financial income | 75/76B | €4,875 | €48,913 | +€44,038 | +903% |
| Recurring financial income | 75 | €4,875 | €48,913 | +€44,038 | +903% |
| Financial charges | 65/66B | €75,804 | €549 | -€75,255 | -99.3% |
| Recurring financial charges | 65 | €1,006 | €549 | -€457 | -45.4% |
| Non-recurring financial charges | 66B | €74,798 | - | -€74,798 | |
| Profit (loss) for the period before taxes | 9903 | €3,338,743 | €3,184,508 | -€154,234 | -4.6% |
| Transfer from deferred taxes | 780 | €443 | €3,533 | +€3,090 | +697% |
| Income taxes | 67/77 | €1,058,509 | €998,999 | -€59,511 | -5.6% |
| Profit (loss) for the period | 9904 | €2,280,677 | €2,189,042 | -€91,634 | -4.0% |
| Transfer from tax-exempt reserves | 789 | €1,330 | €10,657 | +€9,327 | +701% |
| Profit (loss) for the period to be appropriated | 9905 | €2,282,007 | €2,199,699 | -€82,308 | -3.6% |
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.