VLABO: 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.
VLABO
Largest movements
- Receivables within one year -€476,611
down €476,611 (-65.5%), from €727,577 to €250,966
of which Trade receivables: -€300,498
- Current investments +€86,187
up €86,187 (+9.3%), from €930,000 to €1.0m
- Tangible fixed assets -€26,207
down €26,207 (-32.5%), from €80,562 to €54,355
of which Furniture and vehicles: -€25,369
- Profit (loss) carried forward -€130,134
new in 2025: -€130,134
- Other debts -€100,680
down €100,680 (-92.6%), from €108,713 to €8,033
- Reserves -€88,431
down €88,431 (-6.0%), from €1.5m to €1.4m
of which Distributable reserves: -€88,431
- Tax, wage and social debts -€84,932
down €84,932 (-54.8%), from €155,080 to €70,148
- Gross operating margin -€374,996
down €374,996, from €184,089 to -€190,907
- Financial income -€287,035
down €287,035 (-79.6%), from €360,718 to €73,683
- Taxes -€88,432
down €88,432 (-99.3%), from €89,052 to €620
- Other operating charges -€7,028
down €7,028 (-71.6%), from €9,820 to €2,792
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 | €1,802,012 | €1,396,238 | -€405,774 | -22.5% |
| Fixed assets | 21/28 | €100,162 | €73,955 | -€26,207 | -26.2% |
| Tangible fixed assets | 22/27 | €80,562 | €54,355 | -€26,207 | -32.5% |
| Furniture and vehicles | 24 | €79,724 | €54,355 | -€25,369 | -31.8% |
| Other tangible fixed assets | 26 | €838 | - | -€838 | |
| Financial fixed assets | 28 | €19,600 | €19,600 | = | 0.0% |
| Current assets | 29/58 | €1,701,850 | €1,322,283 | -€379,567 | -22.3% |
| Amounts receivable within one year | 40/41 | €727,577 | €250,966 | -€476,611 | -65.5% |
| Trade receivables | 40 | €384,450 | €83,952 | -€300,498 | -78.2% |
| Other amounts receivable | 41 | €343,127 | €167,014 | -€176,113 | -51.3% |
| Current investments | 50/53 | €930,000 | €1,016,187 | +€86,187 | +9.3% |
| Cash at bank and in hand | 54/58 | €38,633 | €47,627 | +€8,994 | +23.3% |
| Deferred charges and accrued income | 490/1 | €5,640 | €7,503 | +€1,863 | +33.0% |
| Total equity and liabilities | 10/49 | €1,802,012 | €1,396,238 | -€405,774 | -22.5% |
| Equity | 10/15 | €1,527,486 | €1,308,921 | -€218,565 | -14.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,465,486 | €1,377,055 | -€88,431 | -6.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €1,459,286 | €1,370,855 | -€88,431 | -6.1% |
| Profit (loss) carried forward | 14 | - | -€130,134 | -€130,134 | |
| Amounts payable | 17/49 | €274,526 | €87,317 | -€187,209 | -68.2% |
| Amounts payable within one year | 42/48 | €274,526 | €87,317 | -€187,209 | -68.2% |
| Trade debts | 44 | €10,733 | €9,136 | -€1,597 | -14.9% |
| Suppliers | 440/4 | €10,733 | €9,136 | -€1,597 | -14.9% |
| Taxes, remuneration and social security | 45 | €155,080 | €70,148 | -€84,932 | -54.8% |
| Taxes | 450/3 | €155,080 | €70,148 | -€84,932 | -54.8% |
| Other amounts payable | 47/48 | €108,713 | €8,033 | -€100,680 | -92.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,027 | €26,207 | -€1,820 | -6.5% |
| Other operating charges | 640/8 | €9,820 | €2,792 | -€7,028 | -71.6% |
| Gross operating margin | 9900 | €184,089 | -€190,907 | -€374,996 | |
| Operating profit (loss) | 9901 | €146,242 | -€219,906 | -€366,148 | |
| Financial income | 75/76B | €360,718 | €73,683 | -€287,035 | -79.6% |
| Recurring financial income | 75 | €360,718 | €73,683 | -€287,035 | -79.6% |
| Financial charges | 65/66B | -€388 | €454 | +€842 | |
| Recurring financial charges | 65 | -€388 | €454 | +€842 | |
| Profit (loss) for the period before taxes | 9903 | €507,348 | -€146,677 | -€654,025 | |
| Income taxes | 67/77 | €89,052 | €620 | -€88,432 | -99.3% |
| Profit (loss) for the period | 9904 | €418,296 | -€147,297 | -€565,593 | |
| Profit (loss) for the period to be appropriated | 9905 | €418,296 | -€147,297 | -€565,593 |
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 3 October 2026 via checked.be.