VL-HOLDING: 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.
What changed
VL-HOLDING
NACE 64.210, Activities of holding companies
financial year 2024 compared with 2023filed annual accounts (NBB)
Net result for the year
€186,725
2023 · €209,954-€23,228
Equity
€6.8m
2023 · €6.6m+€186,725
Cash
€285,241
2023 · €806,548-€521,306
Balance sheet total
€10.7m
2023 · €10.7m-€46,046
Largest movements
Assets
- Receivables within one year +€855,191
up €855,191 (+27.0%), from €3.2m to €4.0m
of which Other amounts receivable: +€678,684
- Cash -€521,306
down €521,306 (-64.6%), from €806,548 to €285,241
mainly Receivables within one year (-€855,191) and Other debts (-€611,477)
- Current investments -€500,000
down €500,000 (-100%), from €500,000 to €0
- Financial fixed assets -€297,800
down €297,800 (-28.7%), from €1.0m to €741,526
- Receivables after one year +€254,754
up €254,754 (+5.4%), from €4.7m to €4.9m
Equity and liabilities
- Other debts -€611,477
down €611,477 (-46.9%), from €1.3m to €692,145
- Debts after one year +€400,000
up €400,000 (+17.7%), from €2.3m to €2.7m
- Short-term financial debts +€258,244
up €258,244 (+2,197%), from €11,756 to €270,000
- Reserves +€186,725
up €186,725 (+2.8%), from €6.6m to €6.8m
of which Distributable reserves: +€188,585
- Tax, wage and social debts -€152,375
down €152,375 (-54.5%), from €279,822 to €127,447
of which Taxes: -€167,351
Income statement
- Financial income -€341,007
down €341,007 (-36.8%), from €926,017 to €585,010
- Other operating charges +€100,451
up €100,451 (+761%), from €13,198 to €113,650
- Provisions -€100,000
down €100,000, from €0 to -€100,000
- Turnover -€79,939
down €79,939 (-5.2%), from €1.5m to €1.5m
- Financial charges -€54,971
down €54,971 (-9.7%), from €568,710 to €513,739
of which Financial charges: -€262,771
From the 2023 result to the 2024 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 2023
€209,954
Turnover
-€79,939
Other operating income
-€3,043
Goods and materials
+€26,637
Services and other goods
+€32,988
Staff costs
+€2,870
Depreciation
+€3,416
Provisions
+€100,000
Other operating charges
-€100,451
Other operating items
+€259,485
Financial income
-€341,007
Financial charges
+€54,971
Taxes
+€20,845
Result 2024
€186,725
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
-€2.0m
Investment
+€791,918
Financing
+€645,984
Cash 2023
€806,548
From operations (derived)
-€2.0m
Net result for the year
+€186,725
Depreciation
+€40,509
Receivables after one year
-€254,754
Receivables within one year
-€855,191
Deferred charges and accrued income
-€197,742
Provisions
-€100,000
Trade debts
-€43,255
Tax, wage and social debts
-€152,375
Other debts
-€611,477
Accrued charges and deferred income
+€28,352
Investment (derived)
+€791,918
Investment in fixed assets (net)
+€291,918
Current investments
+€500,000
Financing
+€645,984
Debts after one year
+€400,000
Current portion of long-term debt
-€12,260
Short-term financial debts
+€258,244
Cash 2024
€285,241
brings cash intakes cash out
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,741,928 | €10,695,882 | -€46,046 | -0.4% |
| Fixed assets | 21/28 | €1,306,417 | €973,990 | -€332,427 | -25.4% |
| Tangible fixed assets | 22/27 | €267,091 | €232,464 | -€34,627 | -13.0% |
| Furniture and vehicles | 24 | €105,592 | €71,069 | -€34,523 | -32.7% |
| Other tangible fixed assets | 26 | €161,499 | €161,395 | -€104 | -0.1% |
| Financial fixed assets | 28 | €1,039,326 | €741,526 | -€297,800 | -28.7% |
| Affiliated companies | 280/1 | €1,039,326 | €741,526 | -€297,800 | -28.7% |
| Participating interests | 280 | €1,039,326 | €741,526 | -€297,800 | -28.7% |
| Current assets | 29/58 | €9,435,511 | €9,721,892 | +€286,381 | +3.0% |
| Amounts receivable after more than one year | 29 | €4,690,806 | €4,945,560 | +€254,754 | +5.4% |
| Other amounts receivable | 291 | €4,690,806 | €4,945,560 | +€254,754 | +5.4% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €3,165,252 | €4,020,443 | +€855,191 | +27.0% |
| Trade receivables | 40 | €124,535 | €301,042 | +€176,507 | +142% |
| Other amounts receivable | 41 | €3,040,717 | €3,719,401 | +€678,684 | +22.3% |
| Current investments | 50/53 | €500,000 | €0 | -€500,000 | -100% |
| Other investments | 51/53 | €500,000 | €0 | -€500,000 | -100% |
| Cash at bank and in hand | 54/58 | €806,548 | €285,241 | -€521,306 | -64.6% |
| Deferred charges and accrued income | 490/1 | €272,905 | €470,647 | +€197,742 | +72.5% |
| Total equity and liabilities | 10/49 | €10,741,928 | €10,695,882 | -€46,046 | -0.4% |
| Equity | 10/15 | €6,595,336 | €6,782,062 | +€186,725 | +2.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €6,576,736 | €6,763,462 | +€186,725 | +2.8% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Distributable reserves | 133 | €6,574,876 | €6,763,462 | +€188,585 | +2.9% |
| Provisions and deferred taxes | 16 | €100,000 | €0 | -€100,000 | -100% |
| Provisions for liabilities and charges | 160/5 | €100,000 | €0 | -€100,000 | -100% |
| Other liabilities and charges | 164/5 | €100,000 | €0 | -€100,000 | -100% |
| Amounts payable | 17/49 | €4,046,592 | €3,913,820 | -€132,772 | -3.3% |
| Amounts payable after more than one year | 17 | €2,259,485 | €2,659,485 | +€400,000 | +17.7% |
| Financial debts | 170/4 | €2,259,485 | €2,659,485 | +€400,000 | +17.7% |
| Subordinated loans | 170 | €259,485 | €259,485 | = | 0.0% |
| Credit institutions | 173 | €0 | €400,000 | +€400,000 | |
| Other loans | 174 | €2,000,000 | €2,000,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,767,759 | €1,206,636 | -€561,124 | -31.7% |
| Current portion of amounts payable after more than one year | 42 | €12,260 | €0 | -€12,260 | -100% |
| Financial debts | 43 | €11,756 | €270,000 | +€258,244 | +2,197% |
| Credit institutions | 430/8 | €11,756 | €270,000 | +€258,244 | +2,197% |
| Trade debts | 44 | €160,298 | €117,043 | -€43,255 | -27.0% |
| Suppliers | 440/4 | €160,298 | €117,043 | -€43,255 | -27.0% |
| Taxes, remuneration and social security | 45 | €279,822 | €127,447 | -€152,375 | -54.5% |
| Taxes | 450/3 | €275,701 | €108,350 | -€167,351 | -60.7% |
| Remuneration and social security | 454/9 | €4,121 | €19,098 | +€14,976 | +363% |
| Other amounts payable | 47/48 | €1,303,622 | €692,145 | -€611,477 | -46.9% |
| Accrued charges and deferred income | 492/3 | €19,348 | €47,700 | +€28,352 | +147% |
| Operating income | 70/76A | €1,665,075 | €1,841,578 | +€176,504 | +10.6% |
| Turnover | 70 | €1,531,839 | €1,451,900 | -€79,939 | -5.2% |
| Other operating income | 74 | €133,236 | €130,193 | -€3,043 | -2.3% |
| Non-recurring operating income | 76A | - | €259,485 | +€259,485 | |
| Operating charges | 60/66A | €1,790,078 | €1,724,619 | -€65,459 | -3.7% |
| Goods for resale, raw materials and consumables | 60 | €584,558 | €557,922 | -€26,637 | -4.6% |
| Purchases | 600/8 | €584,558 | €557,922 | -€26,637 | -4.6% |
| Services and other goods | 61 | €969,635 | €936,648 | -€32,988 | -3.4% |
| Remuneration, social security and pensions | 62 | €178,761 | €175,891 | -€2,870 | -1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,925 | €40,509 | -€3,416 | -7.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | -€100,000 | -€100,000 | |
| Other operating charges | 640/8 | €13,198 | €113,650 | +€100,451 | +761% |
| Operating profit (loss) | 9901 | -€125,004 | €116,959 | +€241,963 | |
| Financial income | 75/76B | €926,017 | €585,010 | -€341,007 | -36.8% |
| Recurring financial income | 75 | €926,017 | €585,010 | -€341,007 | -36.8% |
| Income from financial fixed assets | 750 | €577,801 | €185,606 | -€392,195 | -67.9% |
| Income from current assets | 751 | €308,286 | €397,800 | +€89,513 | +29.0% |
| Other financial income | 752/9 | €39,930 | €1,604 | -€38,326 | -96.0% |
| Financial charges | 65/66B | €568,710 | €513,739 | -€54,971 | -9.7% |
| Recurring financial charges | 65 | €514,210 | €251,439 | -€262,771 | -51.1% |
| Debt charges | 650 | €227,507 | €249,243 | +€21,736 | +9.6% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | €285,000 | €0 | -€285,000 | -100% |
| Other financial charges | 652/9 | €1,703 | €2,196 | +€493 | +28.9% |
| Non-recurring financial charges | 66B | €54,500 | €262,300 | +€207,800 | +381% |
| Profit (loss) for the period before taxes | 9903 | €232,303 | €188,230 | -€44,074 | -19.0% |
| Income taxes | 67/77 | €22,349 | €1,504 | -€20,845 | -93.3% |
| Taxes | 670/3 | €22,349 | €1,504 | -€20,845 | -93.3% |
| Profit (loss) for the period | 9904 | €209,954 | €186,725 | -€23,228 | -11.1% |
| Profit (loss) for the period to be appropriated | 9905 | €209,954 | €186,725 | -€23,228 | -11.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.