VL GESTION: 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 GESTION
Largest movements
- Cash +€16,488
up €16,488 (+94.5%), from €17,456 to €33,944
mainly Net result for the year (+€25,914) and Depreciation (+€4,924)
- Tangible fixed assets -€3,262
down €3,262 (-11.4%), from €28,507 to €25,245
of which Furniture and vehicles: -€2,451
- Profit (loss) carried forward +€25,914
up €25,914 (+58.8%), from €44,078 to €69,992
- Debts after one year -€13,564
down €13,564 (-11.4%), from €118,957 to €105,393
- Gross operating margin +€11,436
up €11,436 (+85.2%), from €13,431 to €24,867
- Taxes +€2,379
up €2,379 (+47.7%), from €4,983 to €7,362
- Financial charges -€751
down €751 (-12.6%), from €5,971 to €5,220
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 | €210,020 | €221,322 | +€11,302 | +5.4% |
| Fixed assets | 21/28 | €177,118 | €173,856 | -€3,262 | -1.8% |
| Tangible fixed assets | 22/27 | €28,507 | €25,245 | -€3,262 | -11.4% |
| Furniture and vehicles | 24 | €22,611 | €20,160 | -€2,451 | -10.8% |
| Other tangible fixed assets | 26 | €5,896 | €5,085 | -€811 | -13.8% |
| Financial fixed assets | 28 | €148,611 | €148,611 | = | 0.0% |
| Current assets | 29/58 | €32,902 | €47,466 | +€14,564 | +44.3% |
| Amounts receivable within one year | 40/41 | €11,149 | €10,854 | -€296 | -2.7% |
| Other amounts receivable | 41 | €11,149 | €10,854 | -€296 | -2.7% |
| Cash at bank and in hand | 54/58 | €17,456 | €33,944 | +€16,488 | +94.5% |
| Deferred charges and accrued income | 490/1 | €4,297 | €2,668 | -€1,628 | -37.9% |
| Total equity and liabilities | 10/49 | €210,020 | €221,322 | +€11,302 | +5.4% |
| Equity | 10/15 | €62,678 | €88,592 | +€25,914 | +41.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €44,078 | €69,992 | +€25,914 | +58.8% |
| Amounts payable | 17/49 | €147,343 | €132,730 | -€14,613 | -9.9% |
| Amounts payable after more than one year | 17 | €118,957 | €105,393 | -€13,564 | -11.4% |
| Financial debts | 170/4 | €118,957 | €105,393 | -€13,564 | -11.4% |
| Amounts payable within one year | 42/48 | €28,322 | €26,736 | -€1,585 | -5.6% |
| Current portion of amounts payable after more than one year | 42 | €14,542 | €15,063 | +€522 | +3.6% |
| Trade debts | 44 | €4,722 | €2,762 | -€1,960 | -41.5% |
| Suppliers | 440/4 | €4,722 | €2,762 | -€1,960 | -41.5% |
| Taxes, remuneration and social security | 45 | €8,782 | €8,635 | -€147 | -1.7% |
| Taxes | 450/3 | €8,782 | €8,635 | -€147 | -1.7% |
| Other amounts payable | 47/48 | €276 | €276 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €64 | €600 | +€536 | +843% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,998 | €4,924 | -€74 | -1.5% |
| Other operating charges | 640/8 | €1,660 | €1,474 | -€186 | -11.2% |
| Gross operating margin | 9900 | €13,431 | €24,867 | +€11,436 | +85.2% |
| Operating profit (loss) | 9901 | €6,773 | €18,469 | +€11,696 | +173% |
| Financial income | 75/76B | €20,012 | €20,028 | +€17 | +0.1% |
| Recurring financial income | 75 | €20,012 | €20,028 | +€17 | +0.1% |
| Financial charges | 65/66B | €5,971 | €5,220 | -€751 | -12.6% |
| Recurring financial charges | 65 | €5,971 | €5,220 | -€751 | -12.6% |
| Profit (loss) for the period before taxes | 9903 | €20,813 | €33,277 | +€12,463 | +59.9% |
| Income taxes | 67/77 | €4,983 | €7,362 | +€2,379 | +47.7% |
| Profit (loss) for the period | 9904 | €15,830 | €25,914 | +€10,084 | +63.7% |
| Profit (loss) for the period to be appropriated | 9905 | €15,830 | €25,914 | +€10,084 | +63.7% |
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.