VILVORDER: 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.
VILVORDER
Largest movements
- Receivables within one year -€55,821
down €55,821 (-35.3%), from €157,923 to €102,102
of which Other amounts receivable: -€51,676
- Tangible fixed assets -€10,404
down €10,404 (-2.1%), from €489,163 to €478,759
of which Land and buildings: -€6,668
- Other debts +€134,853
up €134,853 (+94.6%), from €142,587 to €277,440
- Reserves -€91,544
down €91,544 (-74.9%), from €122,147 to €30,603
of which Distributable reserves: -€88,701
- Profit (loss) carried forward -€68,607
down €68,607, from €2,038 to -€66,569
- Trade debts -€32,602
down €32,602 (-63.6%), from €51,294 to €18,692
- Debts after one year -€32,452
down €32,452 (-10.1%), from €319,785 to €287,334
of which Financial debts: -€33,552
- Gross operating margin -€121,443
down €121,443 (-64.1%), from €189,333 to €67,889
- Financial charges -€26,599
down €26,599 (-56.0%), from €47,536 to €20,937
of which Financial charges: -€18,099
- Taxes -€12,872
down €12,872 (-98.4%), from €13,076 to €204
- Staff costs +€10,820
up €10,820 (+11.8%), from €91,464 to €102,284
- Other operating charges -€8,757
down €8,757 (-67.2%), from €13,025 to €4,268
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 | €828,411 | €754,502 | -€73,909 | -8.9% |
| Fixed assets | 21/28 | €489,663 | €479,259 | -€10,404 | -2.1% |
| Tangible fixed assets | 22/27 | €489,163 | €478,759 | -€10,404 | -2.1% |
| Land and buildings | 22 | €432,789 | €426,121 | -€6,668 | -1.5% |
| Plant, machinery and equipment | 23 | €22,203 | €24,385 | +€2,182 | +9.8% |
| Furniture and vehicles | 24 | €23,437 | €20,264 | -€3,173 | -13.5% |
| Other tangible fixed assets | 26 | €10,734 | €7,989 | -€2,745 | -25.6% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €338,748 | €275,242 | -€63,505 | -18.7% |
| Amounts receivable after more than one year | 29 | €80,000 | €80,000 | = | 0.0% |
| Other amounts receivable | 291 | €80,000 | €80,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €36,834 | €31,273 | -€5,561 | -15.1% |
| Stocks | 30/36 | €36,834 | €31,273 | -€5,561 | -15.1% |
| Amounts receivable within one year | 40/41 | €157,923 | €102,102 | -€55,821 | -35.3% |
| Trade receivables | 40 | €90,691 | €86,546 | -€4,145 | -4.6% |
| Other amounts receivable | 41 | €67,232 | €15,556 | -€51,676 | -76.9% |
| Cash at bank and in hand | 54/58 | €61,700 | €60,102 | -€1,598 | -2.6% |
| Deferred charges and accrued income | 490/1 | €2,291 | €1,765 | -€526 | -23.0% |
| Total equity and liabilities | 10/49 | €828,411 | €754,502 | -€73,909 | -8.9% |
| Equity | 10/15 | €143,184 | -€16,967 | -€160,151 | |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €122,147 | €30,603 | -€91,544 | -74.9% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €13,418 | €10,576 | -€2,842 | -21.2% |
| Distributable reserves | 133 | €108,728 | €20,027 | -€88,701 | -81.6% |
| Profit (loss) carried forward | 14 | €2,038 | -€66,569 | -€68,607 | |
| Provisions and deferred taxes | 16 | €3,355 | €2,644 | -€711 | -21.2% |
| Deferred taxes | 168 | €3,355 | €2,644 | -€711 | -21.2% |
| Amounts payable | 17/49 | €681,872 | €768,824 | +€86,952 | +12.8% |
| Amounts payable after more than one year | 17 | €319,785 | €287,334 | -€32,452 | -10.1% |
| Financial debts | 170/4 | €319,785 | €286,234 | -€33,552 | -10.5% |
| Other amounts payable | 178/9 | - | €1,100 | +€1,100 | |
| Amounts payable within one year | 42/48 | €361,536 | €481,490 | +€119,954 | +33.2% |
| Current portion of amounts payable after more than one year | 42 | €32,074 | €36,080 | +€4,006 | +12.5% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €51,294 | €18,692 | -€32,602 | -63.6% |
| Suppliers | 440/4 | €51,294 | €18,692 | -€32,602 | -63.6% |
| Advances received on contracts in progress | 46 | €111,026 | €113,700 | +€2,675 | +2.4% |
| Taxes, remuneration and social security | 45 | €24,556 | €35,578 | +€11,022 | +44.9% |
| Taxes | 450/3 | €17,183 | €19,780 | +€2,597 | +15.1% |
| Remuneration and social security | 454/9 | €7,373 | €15,798 | +€8,426 | +114.3% |
| Other amounts payable | 47/48 | €142,587 | €277,440 | +€134,853 | +94.6% |
| Accrued charges and deferred income | 492/3 | €550 | €0 | -€550 | -100.0% |
| Remuneration, social security and pensions | 62 | €91,464 | €102,284 | +€10,820 | +11.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,937 | €27,513 | +€1,577 | +6.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€3,961 | -€4,185 | -€224 | -5.6% |
| Other operating charges | 640/8 | €13,025 | €4,268 | -€8,757 | -67.2% |
| Gross operating margin | 9900 | €189,333 | €67,889 | -€121,443 | -64.1% |
| Operating profit (loss) | 9901 | €62,869 | -€61,991 | -€124,860 | |
| Financial income | 75/76B | €4,339 | €10,971 | +€6,633 | +152.9% |
| Recurring financial income | 75 | €4,339 | €10,971 | +€6,633 | +152.9% |
| Financial charges | 65/66B | €47,536 | €20,937 | -€26,599 | -56.0% |
| Recurring financial charges | 65 | €39,036 | €20,937 | -€18,099 | -46.4% |
| Non-recurring financial charges | 66B | €8,500 | €0 | -€8,500 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | €19,671 | -€71,956 | -€91,628 | |
| Transfer from deferred taxes | 780 | €2,842 | €2,842 | = | 0.0% |
| Income taxes | 67/77 | €13,076 | €204 | -€12,872 | -98.4% |
| Profit (loss) for the period | 9904 | €9,438 | -€69,318 | -€78,756 | |
| Transfer from tax-exempt reserves | 789 | €711 | €711 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €10,148 | -€68,607 | -€78,756 |
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 10 October 2026 via checked.be.