VLACRO: 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.
VLACRO
Largest movements
- Receivables within one year -€57,578
down €57,578 (-22.6%), from €254,919 to €197,341
of which Trade receivables: -€52,071
- Cash +€51,361
up €51,361 (+46.9%), from €109,479 to €160,840
mainly Net result for the year (+€442,204) and Receivables within one year (+€57,578)
- Profit (loss) carried forward -€12,796
down €12,796 (-4.6%), from €281,079 to €268,283
- Other debts +€6,019
up €6,019 (+113.8%), from €5,289 to €11,307
- Gross operating margin -€111,338
down €111,338 (-15.4%), from €724,764 to €613,426
- Taxes -€10,084
down €10,084 (-5.6%), from €181,228 to €171,144
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 | €364,882 | €358,181 | -€6,701 | -1.8% |
| Current assets | 29/58 | €364,882 | €358,181 | -€6,701 | -1.8% |
| Amounts receivable within one year | 40/41 | €254,919 | €197,341 | -€57,578 | -22.6% |
| Trade receivables | 40 | €189,241 | €137,170 | -€52,071 | -27.5% |
| Other amounts receivable | 41 | €65,679 | €60,172 | -€5,507 | -8.4% |
| Cash at bank and in hand | 54/58 | €109,479 | €160,840 | +€51,361 | +46.9% |
| Deferred charges and accrued income | 490/1 | €485 | €0 | -€485 | -100.0% |
| Total equity and liabilities | 10/49 | €364,882 | €358,181 | -€6,701 | -1.8% |
| Equity | 10/15 | €359,036 | €346,239 | -€12,796 | -3.6% |
| Contributions | 10/11 | €856 | €856 | = | 0.0% |
| Reserves | 13 | €77,101 | €77,101 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,177 | €1,177 | = | 0.0% |
| Distributable reserves | 133 | €75,924 | €75,924 | = | 0.0% |
| Profit (loss) carried forward | 14 | €281,079 | €268,283 | -€12,796 | -4.6% |
| Amounts payable | 17/49 | €5,847 | €11,942 | +€6,095 | +104.2% |
| Amounts payable within one year | 42/48 | €5,847 | €11,942 | +€6,095 | +104.2% |
| Trade debts | 44 | €558 | €634 | +€76 | +13.6% |
| Suppliers | 440/4 | €558 | €634 | +€76 | +13.6% |
| Other amounts payable | 47/48 | €5,289 | €11,307 | +€6,019 | +113.8% |
| Non-recurring operating income | 76A | €84,308 | €1,635 | -€82,673 | -98.1% |
| Other operating charges | 640/8 | €512 | €287 | -€225 | -43.9% |
| Gross operating margin | 9900 | €724,764 | €613,426 | -€111,338 | -15.4% |
| Operating profit (loss) | 9901 | €724,252 | €613,139 | -€111,113 | -15.3% |
| Financial income | 75/76B | €409 | €521 | +€112 | +27.3% |
| Recurring financial income | 75 | €409 | €521 | +€112 | +27.3% |
| Financial charges | 65/66B | €264 | €312 | +€48 | +18.4% |
| Recurring financial charges | 65 | €264 | €312 | +€48 | +18.4% |
| Profit (loss) for the period before taxes | 9903 | €724,397 | €613,348 | -€111,050 | -15.3% |
| Income taxes | 67/77 | €181,228 | €171,144 | -€10,084 | -5.6% |
| Profit (loss) for the period | 9904 | €543,170 | €442,204 | -€100,966 | -18.6% |
| Profit (loss) for the period to be appropriated | 9905 | €543,170 | €442,204 | -€100,966 | -18.6% |
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 6 October 2026 via checked.be.