VILVOORDE PRINT: 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.
VILVOORDE PRINT
Largest movements
- Tangible fixed assets +€64,968
up €64,968 (+209%), from €31,124 to €96,092
of which Other tangible fixed assets: +€37,133
- Stocks and contracts -€29,066
down €29,066 (-27.7%), from €104,921 to €75,855
- Receivables within one year +€20,876
up €20,876 (+54.4%), from €38,376 to €59,252
- Cash +€11,314
up €11,314 (+54.5%), from €20,749 to €32,063
mainly Trade debts (+€57,012) and Debts after one year (+€37,423)
- Trade debts +€57,012
up €57,012 (+143%), from €39,858 to €96,870
- Debts after one year +€37,423
new in 2025: €37,423
- Other debts -€32,539
down €32,539 (-30.7%), from €106,102 to €73,563
- Tax, wage and social debts +€25,240
up €25,240 (+263%), from €9,585 to €34,825
of which Taxes: +€19,278
- Profit (loss) carried forward -€21,918
down €21,918 (-73.2%), from €29,922 to €8,004
- Staff costs +€120,463
new in 2025: €120,463
- Gross operating margin +€69,144
up €69,144 (+121%), from €56,934 to €126,079
- Depreciation +€8,075
up €8,075 (+117%), from €6,880 to €14,956
- Taxes -€7,318
no longer reported in 2025 (was €7,318)
- Financial charges +€2,956
up €2,956 (+475%), from €622 to €3,578
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 | €195,467 | €263,262 | +€67,795 | +34.7% |
| Formation expenses | 20 | €297 | - | -€297 | |
| Fixed assets | 21/28 | €31,124 | €96,092 | +€64,968 | +209% |
| Tangible fixed assets | 22/27 | €31,124 | €96,092 | +€64,968 | +209% |
| Plant, machinery and equipment | 23 | €14,403 | €9,343 | -€5,060 | -35.1% |
| Furniture and vehicles | 24 | €6,571 | €39,466 | +€32,895 | +501% |
| Other tangible fixed assets | 26 | €10,150 | €47,283 | +€37,133 | +366% |
| Current assets | 29/58 | €164,046 | €167,170 | +€3,124 | +1.9% |
| Stocks and contracts in progress | 3 | €104,921 | €75,855 | -€29,066 | -27.7% |
| Stocks | 30/36 | €104,921 | €75,855 | -€29,066 | -27.7% |
| Amounts receivable within one year | 40/41 | €38,376 | €59,252 | +€20,876 | +54.4% |
| Trade receivables | 40 | €38,376 | €59,252 | +€20,876 | +54.4% |
| Cash at bank and in hand | 54/58 | €20,749 | €32,063 | +€11,314 | +54.5% |
| Total equity and liabilities | 10/49 | €195,467 | €263,262 | +€67,795 | +34.7% |
| Equity | 10/15 | €39,922 | €18,004 | -€21,918 | -54.9% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €29,922 | €8,004 | -€21,918 | -73.2% |
| Amounts payable | 17/49 | €155,545 | €245,258 | +€89,713 | +57.7% |
| Amounts payable after more than one year | 17 | - | €37,423 | +€37,423 | |
| Financial debts | 170/4 | - | €37,423 | +€37,423 | |
| Amounts payable within one year | 42/48 | €155,545 | €207,835 | +€52,290 | +33.6% |
| Current portion of amounts payable after more than one year | 42 | - | €2,577 | +€2,577 | |
| Trade debts | 44 | €39,858 | €96,870 | +€57,012 | +143% |
| Suppliers | 440/4 | €39,858 | €96,870 | +€57,012 | +143% |
| Taxes, remuneration and social security | 45 | €9,585 | €34,825 | +€25,240 | +263% |
| Taxes | 450/3 | €9,585 | €28,864 | +€19,278 | +201% |
| Remuneration and social security | 454/9 | - | €5,962 | +€5,962 | |
| Other amounts payable | 47/48 | €106,102 | €73,563 | -€32,539 | -30.7% |
| Remuneration, social security and pensions | 62 | - | €120,463 | +€120,463 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,880 | €14,956 | +€8,075 | +117% |
| Other operating charges | 640/8 | €6,310 | €9,014 | +€2,704 | +42.9% |
| Gross operating margin | 9900 | €56,934 | €126,079 | +€69,144 | +121% |
| Operating profit (loss) | 9901 | €43,744 | -€18,354 | -€62,098 | |
| Financial income | 75/76B | €13 | €14 | +€1 | +7.5% |
| Recurring financial income | 75 | €13 | €14 | +€1 | +7.5% |
| Financial charges | 65/66B | €622 | €3,578 | +€2,956 | +475% |
| Recurring financial charges | 65 | €622 | €3,578 | +€2,956 | +475% |
| Profit (loss) for the period before taxes | 9903 | €43,135 | -€21,918 | -€65,053 | |
| Income taxes | 67/77 | €7,318 | - | -€7,318 | |
| Profit (loss) for the period | 9904 | €35,817 | -€21,918 | -€57,735 | |
| Profit (loss) for the period to be appropriated | 9905 | €35,817 | -€21,918 | -€57,735 |
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 26 October 2026 via checked.be.