VL BUILDING: what changed
Two fiscal 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.
What changed
VL BUILDING
NACE 68.310, Real estate agency activities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€663
2024 · -€766+€1,429
Equity
€682,668
2024 · €682,005+€663
Cash
€37,174
2024 · €228,939-€191,764
Balance sheet total
€4.7m
2024 · €4.6m+€16,015
Largest movements
Assets
- Stocks and contracts +€427,131
up €427,131 (+77.7%), from €549,677 to €976,807
- Cash -€191,764
down €191,764 (-83.8%), from €228,939 to €37,174
mainly Stocks and contracts (-€427,131) and Debts after one year (-€170,469)
- Tangible fixed assets -€132,136
down €132,136 (-3.5%), from €3.8m to €3.6m
of which Other tangible fixed assets: -€122,113
- Financial fixed assets -€87,000
down €87,000 (-96.0%), from €90,655 to €3,655
Equity and liabilities
- Other debts +€222,321
up €222,321 (+72.4%), from €307,135 to €529,456
- Debts after one year -€170,469
down €170,469 (-5.5%), from €3.1m to €2.9m
of which Financial debts: -€179,309
Income statement
- Financial charges -€22,087
down €22,087 (-41.2%), from €53,582 to €31,494
- Depreciation +€5,732
up €5,732 (+3.3%), from €174,034 to €179,766
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.
Result 2024
-€766
Gross operating margin
+€1,685
Depreciation
-€5,732
Other operating charges
+€600
Other operating items
-€20,353
Financial income
+€1,388
Financial charges
+€22,087
Taxes
+€1,754
Result 2025
€663
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.
From operations
-€58,307
Investment
+€39,393
Financing
-€172,850
Cash 2024
€228,939
From operations (derived)
-€58,307
Net result for the year
+€663
Depreciation
+€179,766
Stocks and contracts
-€427,131
Smaller working-capital items
-€986
Provisions
-€2,774
Trade debts
-€30,167
Other debts
+€222,321
Investment (derived)
+€39,393
Investment in fixed assets (net)
+€39,370
Current investments
+€23
Financing
-€172,850
Debts after one year
-€170,469
Current portion of long-term debt
-€2,381
Cash 2025
€37,174
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,646,243 | €4,662,258 | +€16,015 | +0.3% |
| Fixed assets | 21/28 | €3,863,133 | €3,643,997 | -€219,136 | -5.7% |
| Tangible fixed assets | 22/27 | €3,772,478 | €3,640,342 | -€132,136 | -3.5% |
| Plant, machinery and equipment | 23 | €32,062 | €40,005 | +€7,943 | +24.8% |
| Furniture and vehicles | 24 | €37,046 | €19,080 | -€17,966 | -48.5% |
| Other tangible fixed assets | 26 | €3,703,370 | €3,581,257 | -€122,113 | -3.3% |
| Financial fixed assets | 28 | €90,655 | €3,655 | -€87,000 | -96.0% |
| Current assets | 29/58 | €783,110 | €1,018,261 | +€235,151 | +30.0% |
| Stocks and contracts in progress | 3 | €549,677 | €976,807 | +€427,131 | +77.7% |
| Stocks | 30/36 | €549,677 | €976,807 | +€427,131 | +77.7% |
| Amounts receivable within one year | 40/41 | €4,381 | €3,684 | -€697 | -15.9% |
| Trade receivables | 40 | €4,381 | €1,272 | -€3,110 | -71.0% |
| Other amounts receivable | 41 | - | €2,413 | +€2,413 | |
| Current investments | 50/53 | €114 | €91 | -€23 | -20.0% |
| Cash at bank and in hand | 54/58 | €228,939 | €37,174 | -€191,764 | -83.8% |
| Deferred charges and accrued income | 490/1 | - | €504 | +€504 | |
| Total equity and liabilities | 10/49 | €4,646,243 | €4,662,258 | +€16,015 | +0.3% |
| Equity | 10/15 | €682,005 | €682,668 | +€663 | +0.1% |
| Contributions | 10/11 | €63,000 | €63,000 | = | 0.0% |
| Capital | 10 | €63,000 | €63,000 | = | 0.0% |
| Issued capital | 100 | €63,000 | €63,000 | = | 0.0% |
| Revaluation surpluses | 12 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €469,005 | €469,668 | +€663 | +0.1% |
| Non-distributable reserves | 130/1 | €6,300 | €6,300 | = | 0.0% |
| Legal reserve | 130 | €6,300 | €6,300 | = | 0.0% |
| Tax-exempt reserves | 132 | €186,397 | €178,076 | -€8,321 | -4.5% |
| Distributable reserves | 133 | €276,308 | €285,293 | +€8,985 | +3.3% |
| Provisions and deferred taxes | 16 | €62,132 | €59,359 | -€2,774 | -4.5% |
| Deferred taxes | 168 | €62,132 | €59,359 | -€2,774 | -4.5% |
| Amounts payable | 17/49 | €3,902,106 | €3,920,231 | +€18,125 | +0.5% |
| Amounts payable after more than one year | 17 | €3,112,875 | €2,942,406 | -€170,469 | -5.5% |
| Financial debts | 170/4 | €795,444 | €616,135 | -€179,309 | -22.5% |
| Other amounts payable | 178/9 | €2,317,431 | €2,326,271 | +€8,840 | +0.4% |
| Amounts payable within one year | 42/48 | €788,710 | €977,507 | +€188,798 | +23.9% |
| Current portion of amounts payable after more than one year | 42 | €176,325 | €173,945 | -€2,381 | -1.4% |
| Financial debts | 43 | €260,000 | €260,000 | = | 0.0% |
| Credit institutions | 430/8 | €260,000 | €260,000 | = | 0.0% |
| Trade debts | 44 | €37,277 | €7,110 | -€30,167 | -80.9% |
| Suppliers | 440/4 | €37,277 | €7,110 | -€30,167 | -80.9% |
| Taxes, remuneration and social security | 45 | €7,972 | €6,996 | -€976 | -12.2% |
| Taxes | 450/3 | €7,972 | €6,996 | -€976 | -12.2% |
| Other amounts payable | 47/48 | €307,135 | €529,456 | +€222,321 | +72.4% |
| Accrued charges and deferred income | 492/3 | €521 | €318 | -€203 | -39.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €174,034 | €179,766 | +€5,732 | +3.3% |
| Other operating charges | 640/8 | €20,142 | €19,542 | -€600 | -3.0% |
| Non-recurring operating charges | 66A | €71,028 | €91,381 | +€20,353 | +28.7% |
| Gross operating margin | 9900 | €321,993 | €323,678 | +€1,685 | +0.5% |
| Operating profit (loss) | 9901 | €56,789 | €32,989 | -€23,800 | -41.9% |
| Financial income | 75/76B | €75 | €1,464 | +€1,388 | +1839.5% |
| Recurring financial income | 75 | €75 | €1,464 | +€1,388 | +1839.5% |
| Financial charges | 65/66B | €53,582 | €31,494 | -€22,087 | -41.2% |
| Recurring financial charges | 65 | €53,582 | €31,494 | -€22,087 | -41.2% |
| Profit (loss) for the period before taxes | 9903 | €3,283 | €2,959 | -€325 | -9.9% |
| Transfer from deferred taxes | 780 | €2,774 | €2,774 | = | 0.0% |
| Income taxes | 67/77 | €6,823 | €5,069 | -€1,754 | -25.7% |
| Profit (loss) for the period | 9904 | -€766 | €663 | +€1,429 | |
| Transfer from tax-exempt reserves | 789 | €8,321 | €8,321 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €7,555 | €8,985 | +€1,429 | +18.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.