VL-SERVICE: what changed
VL-SERVICE
Largest movements
- Stocks and contracts -€214,924
down €214,924 (-29.5%), from €728,983 to €514,060
- Cash +€193,988
up €193,988 (+169%), from €114,573 to €308,561
mainly Stocks and contracts (+€214,924) and Depreciation (+€74,507)
- Tangible fixed assets -€48,621
down €48,621 (-12.1%), from €402,374 to €353,753
of which Furniture and vehicles: -€33,358
- Receivables within one year +€35,721
up €35,721 (+53.5%), from €66,748 to €102,469
of which Trade receivables: +€42,961
- Other debts -€42,250
down €42,250 (-10.0%), from €422,154 to €379,904
- Reserves +€33,500
up €33,500 (+7.2%), from €467,500 to €501,000
of which Distributable reserves: +€33,500
- Trade debts -€28,858
down €28,858 (-83.9%), from €34,392 to €5,534
- Tax, wage and social debts +€26,532
up €26,532 (+71.9%), from €36,922 to €63,454
of which Taxes: +€19,192
- Debts after one year -€20,000
down €20,000 (-44.4%), from €45,000 to €25,000
- Gross operating margin +€9,382
up €9,382 (+2.2%), from €417,050 to €426,431
- Depreciation -€7,727
down €7,727 (-9.4%), from €82,234 to €74,507
- Staff costs +€7,266
up €7,266 (+2.8%), from €259,296 to €266,562
- Financial income -€5,166
down €5,166 (-28.4%), from €18,181 to €13,015
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,320,901 | €1,286,653 | -€34,248 | -2.6% |
| Fixed assets | 21/28 | €402,374 | €353,753 | -€48,621 | -12.1% |
| Tangible fixed assets | 22/27 | €402,374 | €353,753 | -€48,621 | -12.1% |
| Land and buildings | 22 | €258,714 | €232,714 | -€26,000 | -10.0% |
| Plant, machinery and equipment | 23 | €29,495 | €40,231 | +€10,736 | +36.4% |
| Furniture and vehicles | 24 | €114,165 | €80,807 | -€33,358 | -29.2% |
| Current assets | 29/58 | €918,527 | €932,900 | +€14,373 | +1.6% |
| Stocks and contracts in progress | 3 | €728,983 | €514,060 | -€214,924 | -29.5% |
| Stocks | 30/36 | €728,983 | €514,060 | -€214,924 | -29.5% |
| Amounts receivable within one year | 40/41 | €66,748 | €102,469 | +€35,721 | +53.5% |
| Trade receivables | 40 | €59,373 | €102,334 | +€42,961 | +72.4% |
| Other amounts receivable | 41 | €7,375 | €135 | -€7,240 | -98.2% |
| Cash at bank and in hand | 54/58 | €114,573 | €308,561 | +€193,988 | +169% |
| Deferred charges and accrued income | 490/1 | €8,222 | €7,810 | -€412 | -5.0% |
| Total equity and liabilities | 10/49 | €1,320,901 | €1,286,653 | -€34,248 | -2.6% |
| Equity | 10/15 | €758,868 | €792,760 | +€33,893 | +4.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €467,500 | €501,000 | +€33,500 | +7.2% |
| Tax-exempt reserves | 132 | €167,500 | €167,500 | = | 0.0% |
| Distributable reserves | 133 | €300,000 | €333,500 | +€33,500 | +11.2% |
| Profit (loss) carried forward | 14 | €271,368 | €271,760 | +€393 | +0.1% |
| Amounts payable | 17/49 | €562,033 | €493,892 | -€68,141 | -12.1% |
| Amounts payable after more than one year | 17 | €45,000 | €25,000 | -€20,000 | -44.4% |
| Financial debts | 170/4 | €45,000 | €25,000 | -€20,000 | -44.4% |
| Amounts payable within one year | 42/48 | €517,034 | €468,893 | -€48,141 | -9.3% |
| Current portion of amounts payable after more than one year | 42 | €23,565 | €20,000 | -€3,565 | -15.1% |
| Trade debts | 44 | €34,392 | €5,534 | -€28,858 | -83.9% |
| Suppliers | 440/4 | €34,392 | €5,534 | -€28,858 | -83.9% |
| Taxes, remuneration and social security | 45 | €36,922 | €63,454 | +€26,532 | +71.9% |
| Taxes | 450/3 | €8,706 | €27,898 | +€19,192 | +220% |
| Remuneration and social security | 454/9 | €28,216 | €35,556 | +€7,340 | +26.0% |
| Other amounts payable | 47/48 | €422,154 | €379,904 | -€42,250 | -10.0% |
| Non-recurring operating income | 76A | €2,500 | - | -€2,500 | |
| Remuneration, social security and pensions | 62 | €259,296 | €266,562 | +€7,266 | +2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,234 | €74,507 | -€7,727 | -9.4% |
| Other operating charges | 640/8 | €15,275 | €15,726 | +€451 | +3.0% |
| Gross operating margin | 9900 | €417,050 | €426,431 | +€9,382 | +2.2% |
| Operating profit (loss) | 9901 | €60,244 | €69,637 | +€9,393 | +15.6% |
| Financial income | 75/76B | €18,181 | €13,015 | -€5,166 | -28.4% |
| Recurring financial income | 75 | €18,181 | €13,015 | -€5,166 | -28.4% |
| Financial charges | 65/66B | €31,303 | €28,529 | -€2,774 | -8.9% |
| Recurring financial charges | 65 | €31,303 | €28,529 | -€2,774 | -8.9% |
| Profit (loss) for the period before taxes | 9903 | €47,122 | €54,123 | +€7,001 | +14.9% |
| Income taxes | 67/77 | €15,780 | €14,230 | -€1,550 | -9.8% |
| Profit (loss) for the period | 9904 | €31,342 | €39,893 | +€8,550 | +27.3% |
| Profit (loss) for the period to be appropriated | 9905 | €31,342 | €39,893 | +€8,550 | +27.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.