Vlamcoat: 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.
What changed
Vlamcoat
NACE 25.530, Machining of metals
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€262,560
2024 · €302,861-€40,300
Equity
€2.1m
2024 · €2.8m-€735,458
Cash
€531,960
2024 · €410,935+€121,025
Balance sheet total
€3.2m
2024 · €3.4m-€164,382
Largest movements
Assets
- Current investments -€500,000
down €500,000 (-100%), from €500,000 to €0
- Tangible fixed assets +€336,405
up €336,405 (+15.7%), from €2.1m to €2.5m
of which Land and buildings: +€414,001
- Receivables within one year -€123,140
down €123,140 (-50.7%), from €242,721 to €119,582
of which Trade receivables: -€63,934
- Cash +€121,025
up €121,025 (+29.5%), from €410,935 to €531,960
mainly Other debts (+€667,031) and Current investments (+€500,000)
Equity and liabilities
- Reserves -€761,858
down €761,858 (-31.4%), from €2.4m to €1.7m
of which Distributable reserves: -€721,858
- Other debts +€667,031
up €667,031 (+588%), from €113,379 to €780,410
- Debts after one year -€69,101
down €69,101 (-45.7%), from €151,164 to €82,062
Income statement
- Taxes +€28,975
up €28,975 (+30.1%), from €96,386 to €125,360
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.
Result 2024
€302,861
Gross operating margin
-€8,318
Staff costs
-€7,198
Depreciation
-€5,017
Other operating charges
-€1,406
Other operating items
+€933
Financial income
+€8,861
Financial charges
+€819
Taxes
-€28,975
Result 2025
€262,560
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
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.
From operations
+€1.3m
Investment
-€156,466
Financing
-€1.1m
Cash 2024
€410,935
From operations (derived)
+€1.3m
Net result for the year
+€262,560
Depreciation
+€320,061
Stocks and contracts
-€4,197
Receivables within one year
+€123,140
Deferred charges and accrued income
+€2,870
Trade debts
-€11,550
Tax, wage and social debts
-€20,908
Advances received
-€200
Other debts
+€667,031
Accrued charges and deferred income
+€4,681
Investment (derived)
-€156,466
Investment in fixed assets (net)
-€656,466
Current investments
+€500,000
Financing
-€1.1m
Debts after one year
-€69,101
Current portion of long-term debt
+€1,123
Contributions, distributions and other
-€998,019
Cash 2025
€531,960
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,359,531 | €3,195,149 | -€164,382 | -4.9% |
| Fixed assets | 21/28 | €2,152,341 | €2,488,746 | +€336,405 | +15.6% |
| Tangible fixed assets | 22/27 | €2,147,566 | €2,483,971 | +€336,405 | +15.7% |
| Land and buildings | 22 | €1,800,871 | €2,214,871 | +€414,001 | +23.0% |
| Plant, machinery and equipment | 23 | €270,960 | €221,942 | -€49,018 | -18.1% |
| Furniture and vehicles | 24 | €75,735 | €47,158 | -€28,577 | -37.7% |
| Financial fixed assets | 28 | €4,775 | €4,775 | = | 0.0% |
| Current assets | 29/58 | €1,207,190 | €706,403 | -€500,787 | -41.5% |
| Stocks and contracts in progress | 3 | €38,619 | €42,816 | +€4,197 | +10.9% |
| Stocks | 30/36 | €38,619 | €42,816 | +€4,197 | +10.9% |
| Amounts receivable within one year | 40/41 | €242,721 | €119,582 | -€123,140 | -50.7% |
| Trade receivables | 40 | €183,516 | €119,582 | -€63,934 | -34.8% |
| Other amounts receivable | 41 | €59,205 | €0 | -€59,205 | -100% |
| Current investments | 50/53 | €500,000 | €0 | -€500,000 | -100% |
| Cash at bank and in hand | 54/58 | €410,935 | €531,960 | +€121,025 | +29.5% |
| Deferred charges and accrued income | 490/1 | €14,915 | €12,045 | -€2,870 | -19.2% |
| Total equity and liabilities | 10/49 | €3,359,531 | €3,195,149 | -€164,382 | -4.9% |
| Equity | 10/15 | €2,834,458 | €2,099,000 | -€735,458 | -25.9% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Revaluation surpluses | 12 | €11,628 | €38,028 | +€26,400 | +227% |
| Reserves | 13 | €2,422,830 | €1,660,972 | -€761,858 | -31.4% |
| Non-distributable reserves | 130/1 | €40,000 | €0 | -€40,000 | -100% |
| Reserves not available under the articles | 1311 | €40,000 | €0 | -€40,000 | -100% |
| Distributable reserves | 133 | €2,382,830 | €1,660,972 | -€721,858 | -30.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €525,074 | €1,096,150 | +€571,076 | +109% |
| Amounts payable after more than one year | 17 | €151,164 | €82,062 | -€69,101 | -45.7% |
| Financial debts | 170/4 | €151,164 | €82,062 | -€69,101 | -45.7% |
| Amounts payable within one year | 42/48 | €370,560 | €1,006,057 | +€635,496 | +171% |
| Current portion of amounts payable after more than one year | 42 | €67,978 | €69,101 | +€1,123 | +1.7% |
| Trade debts | 44 | €85,106 | €73,556 | -€11,550 | -13.6% |
| Suppliers | 440/4 | €85,106 | €73,556 | -€11,550 | -13.6% |
| Advances received on contracts in progress | 46 | €5,750 | €5,550 | -€200 | -3.5% |
| Taxes, remuneration and social security | 45 | €98,348 | €77,440 | -€20,908 | -21.3% |
| Taxes | 450/3 | €61,315 | €76,929 | +€15,614 | +25.5% |
| Remuneration and social security | 454/9 | €37,033 | €511 | -€36,522 | -98.6% |
| Other amounts payable | 47/48 | €113,379 | €780,410 | +€667,031 | +588% |
| Accrued charges and deferred income | 492/3 | €3,350 | €8,031 | +€4,681 | +140% |
| Non-recurring operating income | 76A | - | €165 | +€165 | |
| Remuneration, social security and pensions | 62 | €318,869 | €326,067 | +€7,198 | +2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €315,044 | €320,061 | +€5,017 | +1.6% |
| Other operating charges | 640/8 | €14,836 | €16,241 | +€1,406 | +9.5% |
| Non-recurring operating charges | 66A | €933 | €0 | -€933 | -100% |
| Gross operating margin | 9900 | €1,049,948 | €1,041,630 | -€8,318 | -0.8% |
| Operating profit (loss) | 9901 | €400,266 | €379,261 | -€21,005 | -5.2% |
| Financial income | 75/76B | €3,238 | €12,099 | +€8,861 | +274% |
| Recurring financial income | 75 | €3,238 | €12,099 | +€8,861 | +274% |
| Financial charges | 65/66B | €4,258 | €3,439 | -€819 | -19.2% |
| Recurring financial charges | 65 | €4,258 | €3,439 | -€819 | -19.2% |
| Profit (loss) for the period before taxes | 9903 | €399,246 | €387,921 | -€11,326 | -2.8% |
| Income taxes | 67/77 | €96,386 | €125,360 | +€28,975 | +30.1% |
| Profit (loss) for the period | 9904 | €302,861 | €262,560 | -€40,300 | -13.3% |
| Profit (loss) for the period to be appropriated | 9905 | €302,861 | €262,560 | -€40,300 | -13.3% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.