VLAM - TRANS: what changed
Two financial 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.
VLAM - TRANS
Largest movements
- Cash -€73,690
down €73,690 (-68.6%), from €107,459 to €33,769
mainly Investment in fixed assets (net) (-€98,342) and Net result for the year (-€31,087)
- Tangible fixed assets +€37,070
up €37,070 (+41.0%), from €90,386 to €127,456
of which Furniture and vehicles: +€34,586
- Stocks and contracts +€20,086
up €20,086 (+129.6%), from €15,497 to €35,582
- Current investments +€18,988
up €18,988 (+61.2%), from €31,011 to €49,999
- Receivables within one year +€7,725
up €7,725 (+19.7%), from €39,165 to €46,890
of which Other amounts receivable: +€10,518
- Debts after one year +€36,407
up €36,407 (+101.6%), from €35,833 to €72,240
- Profit (loss) carried forward -€31,087
down €31,087, from €4,232 to -€26,856
- Current portion of long-term debt +€16,479
up €16,479 (+81.7%), from €20,164 to €36,644
- Tax, wage and social debts -€12,785
down €12,785 (-82.3%), from €15,528 to €2,743
- Trade debts +€3,492
up €3,492 (+7553.9%), from €46 to €3,538
- Depreciation +€16,915
up €16,915 (+38.1%), from €44,356 to €61,272
- Gross operating margin -€8,007
down €8,007 (-15.2%), from €52,851 to €44,844
- Other operating charges +€7,814
up €7,814 (+203.1%), from €3,848 to €11,662
- Financial income -€1,750
down €1,750 (-76.4%), from €2,289 to €540
- Financial charges +€1,682
up €1,682 (+96.5%), from €1,742 to €3,424
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 | €284,356 | €296,862 | +€12,506 | +4.4% |
| Fixed assets | 21/28 | €90,386 | €127,456 | +€37,070 | +41.0% |
| Tangible fixed assets | 22/27 | €90,386 | €127,456 | +€37,070 | +41.0% |
| Plant, machinery and equipment | 23 | €2,642 | €5,126 | +€2,484 | +94.0% |
| Furniture and vehicles | 24 | €87,744 | €122,330 | +€34,586 | +39.4% |
| Current assets | 29/58 | €193,970 | €169,406 | -€24,564 | -12.7% |
| Stocks and contracts in progress | 3 | €15,497 | €35,582 | +€20,086 | +129.6% |
| Stocks | 30/36 | €15,497 | €35,582 | +€20,086 | +129.6% |
| Amounts receivable within one year | 40/41 | €39,165 | €46,890 | +€7,725 | +19.7% |
| Trade receivables | 40 | €38,616 | €35,823 | -€2,793 | -7.2% |
| Other amounts receivable | 41 | €548 | €11,066 | +€10,518 | +1918.8% |
| Current investments | 50/53 | €31,011 | €49,999 | +€18,988 | +61.2% |
| Cash at bank and in hand | 54/58 | €107,459 | €33,769 | -€73,690 | -68.6% |
| Deferred charges and accrued income | 490/1 | €839 | €3,166 | +€2,327 | +277.3% |
| Total equity and liabilities | 10/49 | €284,356 | €296,862 | +€12,506 | +4.4% |
| Equity | 10/15 | €212,785 | €181,697 | -€31,087 | -14.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €189,953 | €189,953 | = | 0.0% |
| Tax-exempt reserves | 132 | €68,943 | €68,943 | = | 0.0% |
| Distributable reserves | 133 | €121,010 | €121,010 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,232 | -€26,856 | -€31,087 | |
| Amounts payable | 17/49 | €71,572 | €115,165 | +€43,593 | +60.9% |
| Amounts payable after more than one year | 17 | €35,833 | €72,240 | +€36,407 | +101.6% |
| Financial debts | 170/4 | €35,833 | €72,240 | +€36,407 | +101.6% |
| Amounts payable within one year | 42/48 | €35,739 | €42,925 | +€7,186 | +20.1% |
| Current portion of amounts payable after more than one year | 42 | €20,164 | €36,644 | +€16,479 | +81.7% |
| Trade debts | 44 | €46 | €3,538 | +€3,492 | +7553.9% |
| Suppliers | 440/4 | €46 | €3,538 | +€3,492 | +7553.9% |
| Taxes, remuneration and social security | 45 | €15,528 | €2,743 | -€12,785 | -82.3% |
| Taxes | 450/3 | €15,528 | €2,743 | -€12,785 | -82.3% |
| Non-recurring operating income | 76A | €2,500 | - | -€2,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,356 | €61,272 | +€16,915 | +38.1% |
| Other operating charges | 640/8 | €3,848 | €11,662 | +€7,814 | +203.1% |
| Gross operating margin | 9900 | €52,851 | €44,844 | -€8,007 | -15.2% |
| Operating profit (loss) | 9901 | €4,647 | -€28,090 | -€32,737 | |
| Financial income | 75/76B | €2,289 | €540 | -€1,750 | -76.4% |
| Recurring financial income | 75 | €2,289 | €540 | -€1,750 | -76.4% |
| Financial charges | 65/66B | €1,742 | €3,424 | +€1,682 | +96.5% |
| Recurring financial charges | 65 | €1,742 | €3,424 | +€1,682 | +96.5% |
| Profit (loss) for the period before taxes | 9903 | €5,195 | -€30,973 | -€36,168 | |
| Income taxes | 67/77 | €963 | €114 | -€849 | -88.2% |
| Profit (loss) for the period | 9904 | €4,232 | -€31,087 | -€35,319 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,232 | -€31,087 | -€35,319 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.