VLABEC: 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.
VLABEC
Largest movements
- Receivables within one year +€294,609
up €294,609 (+35.4%), from €833,025 to €1.1m
of which Other amounts receivable: +€252,468
- Tangible fixed assets -€41,599
down €41,599 (-9.3%), from €445,703 to €404,104
of which Land and buildings: -€37,629
- Other debts +€406,575
up €406,575 (+34.0%), from €1.2m to €1.6m
- Profit (loss) carried forward -€157,477
down €157,477 (-47.4%), from -€332,168 to -€489,645
- Trade debts +€34,517
up €34,517 (+26.5%), from €130,414 to €164,931
- Debts after one year -€21,066
down €21,066 (-6.7%), from €312,122 to €291,056
- Gross operating margin -€54,378
down €54,378, from €33,837 to -€20,541
- Staff costs +€39,811
up €39,811 (+101.9%), from €39,070 to €78,881
- Other operating charges -€14,464
down €14,464 (-65.0%), from €22,257 to €7,793
- Depreciation -€12,903
down €12,903 (-23.7%), from €54,502 to €41,599
- Financial income -€8,239
down €8,239 (-80.9%), from €10,182 to €1,943
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 | €1,622,467 | €1,883,701 | +€261,234 | +16.1% |
| Fixed assets | 21/28 | €767,003 | €725,404 | -€41,599 | -5.4% |
| Tangible fixed assets | 22/27 | €445,703 | €404,104 | -€41,599 | -9.3% |
| Land and buildings | 22 | €433,103 | €395,474 | -€37,629 | -8.7% |
| Plant, machinery and equipment | 23 | €2,325 | €1,769 | -€556 | -23.9% |
| Furniture and vehicles | 24 | €10,275 | €6,861 | -€3,414 | -33.2% |
| Financial fixed assets | 28 | €321,300 | €321,300 | = | 0.0% |
| Current assets | 29/58 | €855,464 | €1,158,297 | +€302,833 | +35.4% |
| Amounts receivable within one year | 40/41 | €833,025 | €1,127,634 | +€294,609 | +35.4% |
| Trade receivables | 40 | €443,569 | €485,710 | +€42,141 | +9.5% |
| Other amounts receivable | 41 | €389,456 | €641,924 | +€252,468 | +64.8% |
| Cash at bank and in hand | 54/58 | €22,439 | €30,663 | +€8,224 | +36.7% |
| Total equity and liabilities | 10/49 | €1,622,467 | €1,883,701 | +€261,234 | +16.1% |
| Equity | 10/15 | -€62,745 | -€220,222 | -€157,477 | -251.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €257,023 | €257,023 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €255,163 | €255,163 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€332,168 | -€489,645 | -€157,477 | -47.4% |
| Amounts payable | 17/49 | €1,685,212 | €2,103,923 | +€418,711 | +24.8% |
| Amounts payable after more than one year | 17 | €312,122 | €291,056 | -€21,066 | -6.7% |
| Financial debts | 170/4 | €312,122 | €291,056 | -€21,066 | -6.7% |
| Amounts payable within one year | 42/48 | €1,373,090 | €1,812,867 | +€439,777 | +32.0% |
| Current portion of amounts payable after more than one year | 42 | €37,748 | €27,321 | -€10,427 | -27.6% |
| Trade debts | 44 | €130,414 | €164,931 | +€34,517 | +26.5% |
| Suppliers | 440/4 | €130,414 | €164,931 | +€34,517 | +26.5% |
| Taxes, remuneration and social security | 45 | €7,502 | €16,614 | +€9,112 | +121.5% |
| Taxes | 450/3 | €1,277 | €500 | -€777 | -60.8% |
| Remuneration and social security | 454/9 | €6,225 | €16,114 | +€9,889 | +158.9% |
| Other amounts payable | 47/48 | €1,197,426 | €1,604,001 | +€406,575 | +34.0% |
| Non-recurring operating income | 76A | - | €26,860 | +€26,860 | |
| Remuneration, social security and pensions | 62 | €39,070 | €78,881 | +€39,811 | +101.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,502 | €41,599 | -€12,903 | -23.7% |
| Other operating charges | 640/8 | €22,257 | €7,793 | -€14,464 | -65.0% |
| Gross operating margin | 9900 | €33,837 | -€20,541 | -€54,378 | |
| Operating profit (loss) | 9901 | -€81,992 | -€148,814 | -€66,822 | -81.5% |
| Financial income | 75/76B | €10,182 | €1,943 | -€8,239 | -80.9% |
| Recurring financial income | 75 | €10,182 | €1,943 | -€8,239 | -80.9% |
| Financial charges | 65/66B | €11,002 | €9,423 | -€1,579 | -14.4% |
| Recurring financial charges | 65 | €11,002 | €9,423 | -€1,579 | -14.4% |
| Profit (loss) for the period before taxes | 9903 | -€82,812 | -€156,294 | -€73,482 | -88.7% |
| Income taxes | 67/77 | €1,277 | €1,183 | -€94 | -7.4% |
| Profit (loss) for the period | 9904 | -€84,089 | -€157,477 | -€73,388 | -87.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€84,089 | -€157,477 | -€73,388 | -87.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.