VL RETAIL: what changed
What changed
VL RETAIL
NACE 46.190, Agents in non-specialised wholesale trade
not consecutivefiled annual accounts (NBB)
Net result for the year
€1.0m
2024 · €972,728+€65,868
Equity
€6.1m
2024 · €5.0m+€1.0m
Cash
€89,007
2024 · €449,464-€360,456
Balance sheet total
€13.3m
2024 · €14.0m-€700,263
Largest movements
Assets
- Receivables after one year -€793,500
down €793,500 (-16.3%), from €4.9m to €4.1m
- Financial fixed assets +€500,000
up €500,000 (+6.0%), from €8.4m to €8.9m
- Cash -€360,456
down €360,456 (-80.2%), from €449,464 to €89,007
Equity and liabilities
- Debts after one year -€1.5m
down €1.5m (-19.1%), from €7.8m to €6.3m
- Reserves +€1.0m
up €1.0m (+22.1%), from €4.7m to €5.7m
of which Distributable reserves: +€1.1m
- Other debts -€551,133
down €551,133 (-98.2%), from €561,383 to €10,250
Income statement
- Gross operating margin +€887,720
up €887,720, from -€344,870 to €542,850
- Financial income -€810,304
down €810,304 (-57.0%), from €1.4m to €611,200
- Financial charges +€6,375
up €6,375 (+6.5%), from €98,677 to €105,052
of which Financial charges: +€35,622
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
€972,728
Gross operating margin
+€887,720
Staff costs
-€826
Depreciation
-€3,497
Other operating charges
-€1,447
Financial income
-€810,304
Financial charges
-€6,375
Taxes
+€597
Result 2025
€1.0m
raises the resultlowers the result
Derived cash bridge
A cash bridge needs two consecutive financial years. One year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €14,033,405 | €13,333,143 | -€700,263 | -5.0% |
| Fixed assets | 21/28 | €8,491,462 | €9,030,430 | +€538,968 | +6.3% |
| Tangible fixed assets | 22/27 | €108,728 | €147,696 | +€38,968 | +35.8% |
| Other tangible fixed assets | 26 | €103,662 | €147,696 | +€44,034 | +42.5% |
| Assets under construction and advance payments | 27 | €5,066 | - | -€5,066 | |
| Financial fixed assets | 28 | €8,382,734 | €8,882,734 | +€500,000 | +6.0% |
| Current assets | 29/58 | €5,541,943 | €4,302,713 | -€1.2m | -22.4% |
| Amounts receivable after more than one year | 29 | €4,855,000 | €4,061,500 | -€793,500 | -16.3% |
| Other amounts receivable | 291 | €4,855,000 | €4,061,500 | -€793,500 | -16.3% |
| Amounts receivable within one year | 40/41 | €235,569 | €146,056 | -€89,513 | -38.0% |
| Trade receivables | 40 | €13,372 | €68,563 | +€55,191 | +413% |
| Other amounts receivable | 41 | €222,197 | €77,493 | -€144,704 | -65.1% |
| Cash at bank and in hand | 54/58 | €449,464 | €89,007 | -€360,456 | -80.2% |
| Deferred charges and accrued income | 490/1 | €1,910 | €6,149 | +€4,239 | +222% |
| Total equity and liabilities | 10/49 | €14,033,405 | €13,333,143 | -€700,263 | -5.0% |
| Equity | 10/15 | €5,033,060 | €6,071,656 | +€1.0m | +20.6% |
| Contributions | 10/11 | €335,750 | €335,750 | = | 0.0% |
| Contributions outside capital | 11 | - | €335,750 | +€335,750 | |
| Other | 1109/19 | - | €335,750 | +€335,750 | |
| Reserves | 13 | €4,697,310 | €5,735,906 | +€1.0m | +22.1% |
| Non-distributable reserves | 130/1 | €12,500 | - | -€12,500 | |
| Reserves not available under the articles | 1311 | €12,500 | - | -€12,500 | |
| Distributable reserves | 133 | €4,684,810 | €5,735,906 | +€1.1m | +22.4% |
| Amounts payable | 17/49 | €9,000,345 | €7,261,487 | -€1.7m | -19.3% |
| Amounts payable after more than one year | 17 | €7,846,755 | €6,344,353 | -€1.5m | -19.1% |
| Financial debts | 170/4 | €7,846,755 | €6,344,353 | -€1.5m | -19.1% |
| Amounts payable within one year | 42/48 | €1,136,457 | €871,677 | -€264,780 | -23.3% |
| Current portion of amounts payable after more than one year | 42 | €491,909 | €534,230 | +€42,321 | +8.6% |
| Trade debts | 44 | €19,126 | €48,578 | +€29,452 | +154% |
| Suppliers | 440/4 | €19,126 | €48,578 | +€29,452 | +154% |
| Advances received on contracts in progress | 46 | €60,939 | €152,348 | +€91,409 | +150% |
| Taxes, remuneration and social security | 45 | €3,099 | €126,270 | +€123,170 | +3,974% |
| Taxes | 450/3 | €3,099 | €126,270 | +€123,170 | +3,974% |
| Other amounts payable | 47/48 | €561,383 | €10,250 | -€551,133 | -98.2% |
| Accrued charges and deferred income | 492/3 | €17,133 | €45,458 | +€28,324 | +165% |
| Remuneration, social security and pensions | 62 | - | €826 | +€826 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €963 | €4,460 | +€3,497 | +363% |
| Other operating charges | 640/8 | €3,568 | €5,015 | +€1,447 | +40.6% |
| Gross operating margin | 9900 | -€344,870 | €542,850 | +€887,720 | |
| Operating profit (loss) | 9901 | -€349,400 | €532,550 | +€881,950 | |
| Financial income | 75/76B | €1,421,504 | €611,200 | -€810,304 | -57.0% |
| Recurring financial income | 75 | €1,421,504 | €611,200 | -€810,304 | -57.0% |
| Financial charges | 65/66B | €98,677 | €105,052 | +€6,375 | +6.5% |
| Recurring financial charges | 65 | €69,430 | €105,052 | +€35,622 | +51.3% |
| Non-recurring financial charges | 66B | €29,248 | - | -€29,248 | |
| Profit (loss) for the period before taxes | 9903 | €973,427 | €1,038,698 | +€65,271 | +6.7% |
| Income taxes | 67/77 | €699 | €102 | -€597 | -85.3% |
| Profit (loss) for the period | 9904 | €972,728 | €1,038,595 | +€65,868 | +6.8% |
| Profit (loss) for the period to be appropriated | 9905 | €972,728 | €1,038,595 | +€65,868 | +6.8% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.