VL 84: 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.
VL 84
Largest movements
- Stocks and contracts -€29,712
no longer reported in 2025 (was €29,712)
- Receivables within one year -€19,517
down €19,517 (-79.3%), from €24,604 to €5,086
of which Trade receivables: -€21,587
- Tangible fixed assets -€6,067
down €6,067 (-52.8%), from €11,481 to €5,413
of which Furniture and vehicles: -€5,420
- Cash -€842
no longer reported in 2025 (was €842)
mainly Net result for the year (-€35,592) and Trade debts (-€35,374)
- Other debts +€40,962
up €40,962 (+60.3%), from €67,950 to €108,912
- Profit (loss) carried forward -€35,592
down €35,592 (-33.4%), from -€106,630 to -€142,222
- Trade debts -€35,374
down €35,374 (-98.6%), from €35,883 to €508
- Short-term financial debts -€28,016
down €28,016 (-58.9%), from €47,595 to €19,579
- Tax, wage and social debts +€1,881
up €1,881 (+66.0%), from €2,851 to €4,732
- Gross operating margin -€36,200
down €36,200, from €10,796 to -€25,404
- Depreciation -€3,490
down €3,490 (-36.5%), from €9,557 to €6,067
- Financial charges -€2,527
down €2,527 (-39.0%), from €6,478 to €3,950
- Other operating charges -€1,780
no longer reported in 2025 (was €1,780)
- Financial income -€780
down €780 (-86.4%), from €902 to €122
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 | €66,638 | €10,500 | -€56,139 | -84.2% |
| Fixed assets | 21/28 | €11,481 | €5,413 | -€6,067 | -52.8% |
| Tangible fixed assets | 22/27 | €11,481 | €5,413 | -€6,067 | -52.8% |
| Land and buildings | 22 | €1,827 | €1,686 | -€141 | -7.7% |
| Plant, machinery and equipment | 23 | - | €909 | +€909 | |
| Furniture and vehicles | 24 | €8,238 | €2,818 | -€5,420 | -65.8% |
| Other tangible fixed assets | 26 | €1,416 | - | -€1,416 | |
| Current assets | 29/58 | €55,157 | €5,086 | -€50,071 | -90.8% |
| Stocks and contracts in progress | 3 | €29,712 | - | -€29,712 | |
| Stocks | 30/36 | €29,712 | - | -€29,712 | |
| Amounts receivable within one year | 40/41 | €24,604 | €5,086 | -€19,517 | -79.3% |
| Trade receivables | 40 | €23,572 | €1,985 | -€21,587 | -91.6% |
| Other amounts receivable | 41 | €1,032 | €3,102 | +€2,070 | +201% |
| Cash at bank and in hand | 54/58 | €842 | - | -€842 | |
| Total equity and liabilities | 10/49 | €66,638 | €10,500 | -€56,139 | -84.2% |
| Equity | 10/15 | -€87,640 | -€123,232 | -€35,592 | -40.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €390 | €390 | = | 0.0% |
| Non-distributable reserves | 130/1 | €390 | €390 | = | 0.0% |
| Reserves not available under the articles | 1311 | €390 | €390 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€106,630 | -€142,222 | -€35,592 | -33.4% |
| Amounts payable | 17/49 | €154,278 | €133,731 | -€20,547 | -13.3% |
| Amounts payable within one year | 42/48 | €154,278 | €133,731 | -€20,547 | -13.3% |
| Financial debts | 43 | €47,595 | €19,579 | -€28,016 | -58.9% |
| Credit institutions | 430/8 | €47,595 | €19,579 | -€28,016 | -58.9% |
| Trade debts | 44 | €35,883 | €508 | -€35,374 | -98.6% |
| Suppliers | 440/4 | €35,883 | €508 | -€35,374 | -98.6% |
| Taxes, remuneration and social security | 45 | €2,851 | €4,732 | +€1,881 | +66.0% |
| Taxes | 450/3 | €2,851 | €4,732 | +€1,881 | +66.0% |
| Other amounts payable | 47/48 | €67,950 | €108,912 | +€40,962 | +60.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,557 | €6,067 | -€3,490 | -36.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €508 | +€508 | |
| Other operating charges | 640/8 | €1,780 | - | -€1,780 | |
| Gross operating margin | 9900 | €10,796 | -€25,404 | -€36,200 | |
| Operating profit (loss) | 9901 | -€541 | -€31,979 | -€31,438 | -5,811% |
| Financial income | 75/76B | €902 | €122 | -€780 | -86.4% |
| Recurring financial income | 75 | €902 | €122 | -€780 | -86.4% |
| Financial charges | 65/66B | €6,478 | €3,950 | -€2,527 | -39.0% |
| Recurring financial charges | 65 | €6,478 | €3,950 | -€2,527 | -39.0% |
| Profit (loss) for the period before taxes | 9903 | -€6,117 | -€35,808 | -€29,691 | -485% |
| Income taxes | 67/77 | €86 | -€216 | -€302 | |
| Profit (loss) for the period | 9904 | -€6,203 | -€35,592 | -€29,389 | -474% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,203 | -€35,592 | -€29,389 | -474% |
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 15 October 2026 via checked.be.