VILRAD: 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.
VILRAD
Largest movements
- Receivables within one year +€328,306
up €328,306 (+40.4%), from €813,128 to €1.1m
- Profit (loss) carried forward +€234,452
up €234,452 (+24.1%), from €970,898 to €1.2m
- Tax, wage and social debts +€84,306
new in 2025: €84,306
- Depreciation -€9,841
down €9,841 (-57.8%), from €17,040 to €7,199
- Taxes +€4,949
up €4,949 (+6.5%), from €76,500 to €81,449
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.
Cash bridge derived
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 | €2,276,371 | €2,595,129 | +€318,758 | +14.0% |
| Fixed assets | 21/28 | €1,458,893 | €1,451,694 | -€7,199 | -0.5% |
| Tangible fixed assets | 22/27 | €1,458,893 | €1,451,694 | -€7,199 | -0.5% |
| Land and buildings | 22 | €1,430,098 | €1,430,098 | = | 0.0% |
| Plant, machinery and equipment | 23 | €28,795 | €21,596 | -€7,199 | -25.0% |
| Current assets | 29/58 | €817,478 | €1,143,435 | +€325,957 | +39.9% |
| Amounts receivable within one year | 40/41 | €813,128 | €1,141,434 | +€328,306 | +40.4% |
| Other amounts receivable | 41 | €813,128 | €1,141,434 | +€328,306 | +40.4% |
| Cash at bank and in hand | 54/58 | €4,350 | €2,001 | -€2,349 | -54.0% |
| Total equity and liabilities | 10/49 | €2,276,371 | €2,595,129 | +€318,758 | +14.0% |
| Equity | 10/15 | €2,276,371 | €2,510,823 | +€234,452 | +10.3% |
| Contributions | 10/11 | €175,000 | €175,000 | = | 0.0% |
| Capital | 10 | €175,000 | €175,000 | = | 0.0% |
| Issued capital | 100 | €175,000 | €175,000 | = | 0.0% |
| Reserves | 13 | €1,130,473 | €1,130,473 | = | 0.0% |
| Non-distributable reserves | 130/1 | €17,500 | €17,500 | = | 0.0% |
| Legal reserve | 130 | €17,500 | €17,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €96,830 | €96,830 | = | 0.0% |
| Distributable reserves | 133 | €1,016,142 | €1,016,142 | = | 0.0% |
| Profit (loss) carried forward | 14 | €970,898 | €1,205,350 | +€234,452 | +24.1% |
| Amounts payable | 17/49 | - | €84,306 | +€84,306 | |
| Amounts payable within one year | 42/48 | - | €84,306 | +€84,306 | |
| Taxes, remuneration and social security | 45 | - | €84,306 | +€84,306 | |
| Taxes | 450/3 | - | €84,306 | +€84,306 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,040 | €7,199 | -€9,841 | -57.8% |
| Other operating charges | 640/8 | €75,993 | €78,369 | +€2,376 | +3.1% |
| Gross operating margin | 9900 | €399,364 | €402,090 | +€2,726 | +0.7% |
| Operating profit (loss) | 9901 | €306,331 | €316,523 | +€10,192 | +3.3% |
| Financial charges | 65/66B | €534 | €622 | +€88 | +16.5% |
| Recurring financial charges | 65 | €534 | €622 | +€88 | +16.5% |
| Profit (loss) for the period before taxes | 9903 | €305,798 | €315,901 | +€10,104 | +3.3% |
| Income taxes | 67/77 | €76,500 | €81,449 | +€4,949 | +6.5% |
| Profit (loss) for the period | 9904 | €229,298 | €234,452 | +€5,154 | +2.2% |
| Profit (loss) for the period to be appropriated | 9905 | €229,298 | €234,452 | +€5,154 | +2.2% |
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 9 October 2026 via checked.be.