VLAMCO: 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.
VLAMCO
Largest movements
- Cash +€116,795
up €116,795 (+27.3%), from €428,132 to €544,927
mainly Depreciation (+€154,802) and Net result for the year (+€133,654)
- Tangible fixed assets -€73,576
down €73,576 (-8.8%), from €833,274 to €759,698
- Reserves +€133,654
up €133,654 (+12.1%), from €1.1m to €1.2m
of which Distributable reserves: +€133,654
- Trade debts -€82,554
down €82,554 (-35.1%), from €235,335 to €152,782
- Short-term financial debts +€44,787
up €44,787 (+294.4%), from €15,213 to €60,000
- Debts after one year -€39,580
down €39,580 (-16.8%), from €236,217 to €196,637
- Tax, wage and social debts -€23,982
down €23,982 (-34.0%), from €70,470 to €46,488
of which Taxes: -€19,510
- Staff costs +€21,492
up €21,492 (+15.3%), from €140,107 to €161,599
- Depreciation +€20,266
up €20,266 (+15.1%), from €134,536 to €154,802
- Financial income +€15,942
up €15,942 (+509.0%), from €3,132 to €19,074
- Gross operating margin +€12,194
up €12,194 (+2.3%), from €527,936 to €540,130
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 | €1,830,049 | €1,861,588 | +€31,539 | +1.7% |
| Fixed assets | 21/28 | €833,274 | €759,698 | -€73,576 | -8.8% |
| Tangible fixed assets | 22/27 | €833,274 | €759,698 | -€73,576 | -8.8% |
| Land and buildings | 22 | €520,414 | €503,271 | -€17,143 | -3.3% |
| Plant, machinery and equipment | 23 | €131,043 | €102,256 | -€28,788 | -22.0% |
| Furniture and vehicles | 24 | €181,817 | €154,172 | -€27,646 | -15.2% |
| Current assets | 29/58 | €996,775 | €1,101,890 | +€105,115 | +10.5% |
| Stocks and contracts in progress | 3 | €70,000 | €55,000 | -€15,000 | -21.4% |
| Stocks | 30/36 | €70,000 | €55,000 | -€15,000 | -21.4% |
| Amounts receivable within one year | 40/41 | €485,970 | €487,385 | +€1,416 | +0.3% |
| Trade receivables | 40 | €214,948 | €213,285 | -€1,663 | -0.8% |
| Other amounts receivable | 41 | €271,022 | €274,101 | +€3,079 | +1.1% |
| Cash at bank and in hand | 54/58 | €428,132 | €544,927 | +€116,795 | +27.3% |
| Deferred charges and accrued income | 490/1 | €12,674 | €14,578 | +€1,904 | +15.0% |
| Total equity and liabilities | 10/49 | €1,830,049 | €1,861,588 | +€31,539 | +1.7% |
| Equity | 10/15 | €1,232,448 | €1,366,101 | +€133,654 | +10.8% |
| Contributions | 10/11 | €123,500 | €123,500 | = | 0.0% |
| Capital | 10 | €73,238 | €73,238 | = | 0.0% |
| Issued capital | 100 | €73,238 | €73,238 | = | 0.0% |
| Outside capital | 11 | €50,263 | €50,263 | = | 0.0% |
| Share premium | 1100/10 | €50,263 | €50,263 | = | 0.0% |
| Reserves | 13 | €1,108,948 | €1,242,601 | +€133,654 | +12.1% |
| Non-distributable reserves | 130/1 | €12,350 | €12,350 | = | 0.0% |
| Legal reserve | 130 | €12,350 | €12,350 | = | 0.0% |
| Distributable reserves | 133 | €1,096,598 | €1,230,251 | +€133,654 | +12.2% |
| Amounts payable | 17/49 | €597,602 | €495,487 | -€102,115 | -17.1% |
| Amounts payable after more than one year | 17 | €236,217 | €196,637 | -€39,580 | -16.8% |
| Financial debts | 170/4 | €236,217 | €196,637 | -€39,580 | -16.8% |
| Amounts payable within one year | 42/48 | €360,135 | €298,850 | -€61,285 | -17.0% |
| Current portion of amounts payable after more than one year | 42 | €39,116 | €39,580 | +€464 | +1.2% |
| Financial debts | 43 | €15,213 | €60,000 | +€44,787 | +294.4% |
| Credit institutions | 430/8 | €15,213 | €60,000 | +€44,787 | +294.4% |
| Trade debts | 44 | €235,335 | €152,782 | -€82,554 | -35.1% |
| Suppliers | 440/4 | €235,335 | €152,782 | -€82,554 | -35.1% |
| Taxes, remuneration and social security | 45 | €70,470 | €46,488 | -€23,982 | -34.0% |
| Taxes | 450/3 | €37,998 | €18,488 | -€19,510 | -51.3% |
| Remuneration and social security | 454/9 | €32,472 | €28,000 | -€4,472 | -13.8% |
| Accrued charges and deferred income | 492/3 | €1,250 | - | -€1,250 | |
| Remuneration, social security and pensions | 62 | €140,107 | €161,599 | +€21,492 | +15.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €134,536 | €154,802 | +€20,266 | +15.1% |
| Other operating charges | 640/8 | €18,299 | €20,555 | +€2,257 | +12.3% |
| Gross operating margin | 9900 | €527,936 | €540,130 | +€12,194 | +2.3% |
| Operating profit (loss) | 9901 | €234,994 | €203,174 | -€31,820 | -13.5% |
| Financial income | 75/76B | €3,132 | €19,074 | +€15,942 | +509.0% |
| Recurring financial income | 75 | €3,132 | €19,074 | +€15,942 | +509.0% |
| Financial charges | 65/66B | €32,763 | €29,316 | -€3,447 | -10.5% |
| Recurring financial charges | 65 | €32,763 | €29,316 | -€3,447 | -10.5% |
| Profit (loss) for the period before taxes | 9903 | €205,363 | €192,931 | -€12,431 | -6.1% |
| Income taxes | 67/77 | €62,911 | €59,277 | -€3,634 | -5.8% |
| Profit (loss) for the period | 9904 | €142,451 | €133,654 | -€8,797 | -6.2% |
| Profit (loss) for the period to be appropriated | 9905 | €142,451 | €133,654 | -€8,797 | -6.2% |
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.