VL ITC: 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.
VL ITC
Largest movements
- Receivables within one year -€36,360
down €36,360 (-38.2%), from €95,070 to €58,711
of which Trade receivables: -€36,360
- Cash +€32,138
up €32,138 (+30.3%), from €106,097 to €138,235
mainly Net result for the year (+€183,233) and Other debts (+€157,812)
- Tangible fixed assets -€6,958
down €6,958 (-29.8%), from €23,316 to €16,358
of which Furniture and vehicles: -€5,222
- Reserves -€179,953
down €179,953 (-99.9%), from €180,186 to €233
- Other debts +€157,812
up €157,812 (+16007.5%), from €986 to €158,798
- Tax, wage and social debts +€17,621
up €17,621 (+119.9%), from €14,693 to €32,314
- Trade debts -€7,020
down €7,020 (-24.0%), from €29,295 to €22,275
- Gross operating margin +€4,209
up €4,209 (+1.7%), from €241,802 to €246,011
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €226,159 | €214,619 | -€11,540 | -5.1% |
| Fixed assets | 21/28 | €23,316 | €16,358 | -€6,958 | -29.8% |
| Tangible fixed assets | 22/27 | €23,316 | €16,358 | -€6,958 | -29.8% |
| Land and buildings | 22 | €2,744 | €1,707 | -€1,037 | -37.8% |
| Plant, machinery and equipment | 23 | €1,634 | €935 | -€700 | -42.8% |
| Furniture and vehicles | 24 | €18,938 | €13,716 | -€5,222 | -27.6% |
| Current assets | 29/58 | €202,843 | €198,262 | -€4,582 | -2.3% |
| Amounts receivable within one year | 40/41 | €95,070 | €58,711 | -€36,360 | -38.2% |
| Trade receivables | 40 | €95,070 | €58,711 | -€36,360 | -38.2% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €106,097 | €138,235 | +€32,138 | +30.3% |
| Deferred charges and accrued income | 490/1 | €1,676 | €1,316 | -€360 | -21.5% |
| Total equity and liabilities | 10/49 | €226,159 | €214,619 | -€11,540 | -5.1% |
| Equity | 10/15 | €181,186 | €1,233 | -€179,953 | -99.3% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €180,186 | €233 | -€179,953 | -99.9% |
| Distributable reserves | 133 | €180,186 | €233 | -€179,953 | -99.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €44,974 | €213,387 | +€168,413 | +374.5% |
| Amounts payable within one year | 42/48 | €44,974 | €213,387 | +€168,413 | +374.5% |
| Trade debts | 44 | €29,295 | €22,275 | -€7,020 | -24.0% |
| Suppliers | 440/4 | €29,295 | €22,275 | -€7,020 | -24.0% |
| Taxes, remuneration and social security | 45 | €14,693 | €32,314 | +€17,621 | +119.9% |
| Taxes | 450/3 | €14,693 | €32,314 | +€17,621 | +119.9% |
| Other amounts payable | 47/48 | €986 | €158,798 | +€157,812 | +16007.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,857 | €6,958 | +€101 | +1.5% |
| Other operating charges | 640/8 | €632 | €567 | -€65 | -10.3% |
| Gross operating margin | 9900 | €241,802 | €246,011 | +€4,209 | +1.7% |
| Operating profit (loss) | 9901 | €234,312 | €238,486 | +€4,173 | +1.8% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €104 | €57 | -€47 | -45.0% |
| Recurring financial charges | 65 | €104 | €57 | -€47 | -45.0% |
| Profit (loss) for the period before taxes | 9903 | €234,209 | €238,429 | +€4,220 | +1.8% |
| Income taxes | 67/77 | €54,023 | €55,196 | +€1,173 | +2.2% |
| Profit (loss) for the period | 9904 | €180,186 | €183,233 | +€3,047 | +1.7% |
| Profit (loss) for the period to be appropriated | 9905 | €180,186 | €183,233 | +€3,047 | +1.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.