VL - INVEST: what changed
What changed
VL - INVEST
NACE 68.310, Real estate agency activities
filed annual accounts (NBB)
Net result for the year
-€531,872
2024 · -€229,067-€302,805
Equity
€2.7m
2024 · €254,457+€2.4m
Cash
€236,404
2024 · €2,989+€233,415
Balance sheet total
€10.0m
2024 · €7.2m+€2.8m
Largest movements
Assets
- Tangible fixed assets +€2.5m
up €2.5m (+37.8%), from €6.7m to €9.3m
of which Land and buildings: +€2.5m
- Cash +€233,415
up €233,415 (+7,809%), from €2,989 to €236,404
mainly Contributions, distributions and other (+€3.0m) and Depreciation (+€442,548)
Equity and liabilities
- Revaluation surpluses +€3.0m
new in 2025: €3.0m
- Profit (loss) carried forward -€525,767
down €525,767 (-53.4%), from -€985,165 to -€1.5m
- Debts after one year -€374,136
down €374,136 (-10.6%), from €3.5m to €3.1m
- Other debts +€324,871
up €324,871 (+11.6%), from €2.8m to €3.1m
- Current portion of long-term debt +€308,653
up €308,653 (+83.7%), from €368,817 to €677,469
Income statement
- Gross operating margin -€322,451
down €322,451 (-78.6%), from €410,352 to €87,901
- Depreciation -€10,140
down €10,140 (-2.2%), from €452,688 to €442,548
- Financial income +€7,488
up €7,488 (+1,826,307%), from €0 to €7,488
of which Non-recurring financial income: +€7,488
- Other operating charges +€5,645
up €5,645 (+6.8%), from €83,241 to €88,886
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€229,067
Gross operating margin
-€322,451
Staff costs
+€3,803
Depreciation
+€10,140
Other operating charges
-€5,645
Financial income
+€7,488
Financial charges
+€3,860
Result 2025
-€531,872
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€328,226
Investment
-€3.0m
Financing
+€2.9m
Cash 2024
€2,989
From operations (derived)
+€328,226
Net result for the year
-€531,872
Depreciation
+€442,548
Receivables within one year
-€26,083
Smaller working-capital items
+€1,004
Trade debts
+€87,757
Advances received
+€30,000
Other debts
+€324,871
Investment (derived)
-€3.0m
Investment in fixed assets (net)
-€3.0m
Financing
+€2.9m
Debts after one year
-€374,136
Current portion of long-term debt
+€308,653
Short-term financial debts
-€22,531
Contributions, distributions and other
+€3.0m
Cash 2025
€236,404
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,218,603 | €10,024,815 | +€2.8m | +38.9% |
| Fixed assets | 21/28 | €7,214,314 | €9,759,804 | +€2.5m | +35.3% |
| Tangible fixed assets | 22/27 | €6,739,314 | €9,284,804 | +€2.5m | +37.8% |
| Land and buildings | 22 | €6,735,869 | €9,283,230 | +€2.5m | +37.8% |
| Plant, machinery and equipment | 23 | €3,445 | €1,574 | -€1,871 | -54.3% |
| Financial fixed assets | 28 | €475,000 | €475,000 | = | 0.0% |
| Current assets | 29/58 | €4,289 | €265,011 | +€260,722 | +6,079% |
| Amounts receivable within one year | 40/41 | €1,300 | €27,383 | +€26,083 | +2,006% |
| Trade receivables | 40 | - | €13,521 | +€13,521 | |
| Other amounts receivable | 41 | €1,300 | €13,862 | +€12,562 | +966% |
| Cash at bank and in hand | 54/58 | €2,989 | €236,404 | +€233,415 | +7,809% |
| Deferred charges and accrued income | 490/1 | - | €1,224 | +€1,224 | |
| Total equity and liabilities | 10/49 | €7,218,603 | €10,024,815 | +€2.8m | +38.9% |
| Equity | 10/15 | €254,457 | €2,703,827 | +€2.4m | +963% |
| Contributions | 10/11 | €1,239,623 | €1,233,518 | -€6,105 | -0.5% |
| Capital | 10 | €1,239,623 | €1,233,518 | -€6,105 | -0.5% |
| Issued capital | 100 | €1,239,623 | €1,233,518 | -€6,105 | -0.5% |
| Revaluation surpluses | 12 | - | €2,981,241 | +€3.0m | |
| Profit (loss) carried forward | 14 | -€985,165 | -€1,510,932 | -€525,767 | -53.4% |
| Provisions and deferred taxes | 16 | €39,010 | €35,866 | -€3,144 | -8.1% |
| Deferred taxes | 168 | €39,010 | €35,866 | -€3,144 | -8.1% |
| Amounts payable | 17/49 | €6,925,136 | €7,285,122 | +€359,986 | +5.2% |
| Amounts payable after more than one year | 17 | €3,520,198 | €3,146,062 | -€374,136 | -10.6% |
| Financial debts | 170/4 | €3,520,198 | €3,146,062 | -€374,136 | -10.6% |
| Amounts payable within one year | 42/48 | €3,404,937 | €4,139,060 | +€734,122 | +21.6% |
| Current portion of amounts payable after more than one year | 42 | €368,817 | €677,469 | +€308,653 | +83.7% |
| Financial debts | 43 | €22,531 | - | -€22,531 | |
| Credit institutions | 430/8 | €22,531 | - | -€22,531 | |
| Trade debts | 44 | €203,736 | €291,493 | +€87,757 | +43.1% |
| Suppliers | 440/4 | €203,736 | €291,493 | +€87,757 | +43.1% |
| Advances received on contracts in progress | 46 | - | €30,000 | +€30,000 | |
| Taxes, remuneration and social security | 45 | €4,406 | €9,777 | +€5,371 | +122% |
| Taxes | 450/3 | €2,073 | €7,444 | +€5,371 | +259% |
| Remuneration and social security | 454/9 | €2,333 | €2,333 | = | 0.0% |
| Other amounts payable | 47/48 | €2,805,449 | €3,130,320 | +€324,871 | +11.6% |
| Remuneration, social security and pensions | 62 | €11,053 | €7,249 | -€3,803 | -34.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €452,688 | €442,548 | -€10,140 | -2.2% |
| Other operating charges | 640/8 | €83,241 | €88,886 | +€5,645 | +6.8% |
| Gross operating margin | 9900 | €410,352 | €87,901 | -€322,451 | -78.6% |
| Operating profit (loss) | 9901 | -€136,630 | -€450,782 | -€314,152 | -230% |
| Financial income | 75/76B | €0 | €7,488 | +€7,488 | +1,826,307% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -34.1% |
| Non-recurring financial income | 76B | - | €7,488 | +€7,488 | |
| Financial charges | 65/66B | €95,581 | €91,721 | -€3,860 | -4.0% |
| Recurring financial charges | 65 | €95,581 | €91,721 | -€3,860 | -4.0% |
| Profit (loss) for the period before taxes | 9903 | -€232,211 | -€535,015 | -€302,805 | -130% |
| Transfer from deferred taxes | 780 | €3,144 | €3,144 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€229,067 | -€531,872 | -€302,805 | -132% |
| Transfer from tax-exempt reserves | 789 | €6,105 | €6,105 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€222,962 | -€525,767 | -€302,805 | -136% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.