VLASAARD: 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
VLASAARD
NACE 55.300, Accommodation
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€32,212
2024 · €80,077-€47,864
Equity
€3.2m
2024 · €3.1m+€32,212
Cash
€1.2m
2024 · €1.0m+€160,780
Balance sheet total
€4.6m
2024 · €4.6m-€29,125
Largest movements
Assets
- Tangible fixed assets -€203,679
down €203,679 (-5.9%), from €3.4m to €3.2m
- Cash +€160,780
up €160,780 (+15.8%), from €1.0m to €1.2m
mainly Depreciation (+€270,614) and Net result for the year (+€32,212)
Equity and liabilities
- Debts after one year -€49,283
down €49,283 (-13.6%), from €362,618 to €313,335
Income statement
- Staff costs +€85,689
up €85,689 (+30.8%), from €278,187 to €363,876
- Gross operating margin +€27,649
up €27,649 (+3.7%), from €751,859 to €779,507
- Taxes -€14,749
down €14,749 (-54.1%), from €27,258 to €12,510
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
€80,077
Gross operating margin
+€27,649
Staff costs
-€85,689
Depreciation
-€5,487
Other operating charges
-€1,920
Other operating items
-€424
Financial income
-€1,013
Financial charges
+€4,270
Taxes
+€14,749
Result 2025
€32,212
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
+€275,537
Investment
-€65,892
Financing
-€48,866
Cash 2024
€1.0m
From operations (derived)
+€275,537
Net result for the year
+€32,212
Depreciation
+€270,614
Stocks and contracts
-€13,189
Receivables within one year
+€20,511
Deferred charges and accrued income
-€22,140
Trade debts
-€36,064
Tax, wage and social debts
+€12,411
Advances received
+€10,286
Other debts
+€10,097
Accrued charges and deferred income
-€9,203
Investment (derived)
-€65,892
Investment in fixed assets (net)
-€65,892
Financing
-€48,866
Debts after one year
-€49,283
Current portion of long-term debt
+€417
Cash 2025
€1.2m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,600,109 | €4,570,984 | -€29,125 | -0.6% |
| Fixed assets | 21/28 | €3,444,822 | €3,240,099 | -€204,722 | -5.9% |
| Intangible fixed assets | 21 | €1,183 | €140 | -€1,043 | -88.2% |
| Tangible fixed assets | 22/27 | €3,443,638 | €3,239,959 | -€203,679 | -5.9% |
| Land and buildings | 22 | €2,411,675 | €2,388,032 | -€23,643 | -1.0% |
| Plant, machinery and equipment | 23 | €752,578 | €657,437 | -€95,141 | -12.6% |
| Furniture and vehicles | 24 | €279,386 | €194,491 | -€84,896 | -30.4% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €1,155,287 | €1,330,884 | +€175,597 | +15.2% |
| Stocks and contracts in progress | 3 | €1,918 | €15,107 | +€13,189 | +688% |
| Stocks | 30/36 | €1,918 | €15,107 | +€13,189 | +688% |
| Amounts receivable within one year | 40/41 | €132,039 | €111,527 | -€20,511 | -15.5% |
| Trade receivables | 40 | €90,071 | €77,376 | -€12,695 | -14.1% |
| Other amounts receivable | 41 | €41,967 | €34,151 | -€7,816 | -18.6% |
| Cash at bank and in hand | 54/58 | €1,018,686 | €1,179,466 | +€160,780 | +15.8% |
| Deferred charges and accrued income | 490/1 | €2,644 | €24,784 | +€22,140 | +838% |
| Total equity and liabilities | 10/49 | €4,600,109 | €4,570,984 | -€29,125 | -0.6% |
| Equity | 10/15 | €3,148,692 | €3,180,904 | +€32,212 | +1.0% |
| Contributions | 10/11 | €1,800,000 | €1,800,000 | = | 0.0% |
| Capital | 10 | €1,800,000 | €1,800,000 | = | 0.0% |
| Issued capital | 100 | €1,800,000 | €1,800,000 | = | 0.0% |
| Reserves | 13 | €1,348,692 | €1,380,904 | +€32,212 | +2.4% |
| Non-distributable reserves | 130/1 | €180,000 | €180,000 | = | 0.0% |
| Legal reserve | 130 | €180,000 | €180,000 | = | 0.0% |
| Distributable reserves | 133 | €1,168,692 | €1,200,904 | +€32,212 | +2.8% |
| Amounts payable | 17/49 | €1,451,417 | €1,390,079 | -€61,337 | -4.2% |
| Amounts payable after more than one year | 17 | €362,618 | €313,335 | -€49,283 | -13.6% |
| Financial debts | 170/4 | €362,618 | €313,335 | -€49,283 | -13.6% |
| Amounts payable within one year | 42/48 | €1,049,883 | €1,047,031 | -€2,852 | -0.3% |
| Current portion of amounts payable after more than one year | 42 | €48,866 | €49,283 | +€417 | +0.9% |
| Trade debts | 44 | €63,893 | €27,830 | -€36,064 | -56.4% |
| Suppliers | 440/4 | €63,893 | €27,830 | -€36,064 | -56.4% |
| Bills of exchange payable | 441 | €0 | - | = | |
| Advances received on contracts in progress | 46 | €419,094 | €429,381 | +€10,286 | +2.5% |
| Taxes, remuneration and social security | 45 | €31,080 | €43,491 | +€12,411 | +39.9% |
| Taxes | 450/3 | €1,039 | €2,201 | +€1,163 | +112% |
| Remuneration and social security | 454/9 | €30,041 | €41,290 | +€11,249 | +37.4% |
| Other amounts payable | 47/48 | €486,950 | €497,047 | +€10,097 | +2.1% |
| Accrued charges and deferred income | 492/3 | €38,915 | €29,713 | -€9,203 | -23.6% |
| Non-recurring operating income | 76A | €1,240 | €0 | -€1,240 | -100% |
| Remuneration, social security and pensions | 62 | €278,187 | €363,876 | +€85,689 | +30.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €265,128 | €270,614 | +€5,487 | +2.1% |
| Other operating charges | 640/8 | €63,491 | €65,411 | +€1,920 | +3.0% |
| Non-recurring operating charges | 66A | €2,561 | €2,984 | +€424 | +16.6% |
| Gross operating margin | 9900 | €751,859 | €779,507 | +€27,649 | +3.7% |
| Operating profit (loss) | 9901 | €142,492 | €76,622 | -€65,870 | -46.2% |
| Financial income | 75/76B | €8,902 | €7,889 | -€1,013 | -11.4% |
| Recurring financial income | 75 | €8,902 | €7,889 | -€1,013 | -11.4% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €44,059 | €39,789 | -€4,270 | -9.7% |
| Recurring financial charges | 65 | €44,059 | €39,789 | -€4,270 | -9.7% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €107,335 | €44,722 | -€62,613 | -58.3% |
| Income taxes | 67/77 | €27,258 | €12,510 | -€14,749 | -54.1% |
| Profit (loss) for the period | 9904 | €80,077 | €32,212 | -€47,864 | -59.8% |
| Profit (loss) for the period to be appropriated | 9905 | €80,077 | €32,212 | -€47,864 | -59.8% |
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 25 October 2026 via checked.be.