VLASERNA: 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.
VLASERNA
Largest movements
- Receivables within one year +€21,872
up €21,872 (+103.4%), from €21,160 to €43,032
of which Trade receivables: +€11,156
- Tangible fixed assets -€2,341
down €2,341 (-51.4%), from €4,555 to €2,214
- Profit (loss) carried forward +€35,396
up €35,396 (+42.5%), from -€83,269 to -€47,873
- Debts after one year -€15,214
down €15,214 (-42.3%), from €35,989 to €20,774
- Trade debts -€5,193
no longer reported in 2025 (was €5,193)
- Short-term financial debts +€1,952
up €1,952 (+4.1%), from €48,027 to €49,979
- Other debts +€1,752
up €1,752 (+51.5%), from €3,400 to €5,152
- Gross operating margin +€132,625
up €132,625, from -€81,539 to €51,086
- Financial charges +€2,835
up €2,835 (+35.9%), from €7,895 to €10,729
- Other operating charges +€1,616
up €1,616 (+161.0%), from €1,004 to €2,620
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €25,715 | €45,246 | +€19,530 | +75.9% |
| Fixed assets | 21/28 | €4,555 | €2,214 | -€2,341 | -51.4% |
| Tangible fixed assets | 22/27 | €4,555 | €2,214 | -€2,341 | -51.4% |
| Furniture and vehicles | 24 | €4,555 | €2,214 | -€2,341 | -51.4% |
| Current assets | 29/58 | €21,160 | €43,032 | +€21,872 | +103.4% |
| Amounts receivable within one year | 40/41 | €21,160 | €43,032 | +€21,872 | +103.4% |
| Trade receivables | 40 | €17,956 | €29,113 | +€11,156 | +62.1% |
| Other amounts receivable | 41 | €3,204 | €13,919 | +€10,715 | +334.5% |
| Total equity and liabilities | 10/49 | €25,715 | €45,246 | +€19,530 | +75.9% |
| Equity | 10/15 | -€81,269 | -€45,873 | +€35,396 | +43.6% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€83,269 | -€47,873 | +€35,396 | +42.5% |
| Amounts payable | 17/49 | €106,984 | €91,119 | -€15,866 | -14.8% |
| Amounts payable after more than one year | 17 | €35,989 | €20,774 | -€15,214 | -42.3% |
| Financial debts | 170/4 | €35,989 | €20,774 | -€15,214 | -42.3% |
| Amounts payable within one year | 42/48 | €70,996 | €70,344 | -€652 | -0.9% |
| Current portion of amounts payable after more than one year | 42 | €14,377 | €15,214 | +€837 | +5.8% |
| Financial debts | 43 | €48,027 | €49,979 | +€1,952 | +4.1% |
| Credit institutions | 430/8 | €48,027 | €49,979 | +€1,952 | +4.1% |
| Trade debts | 44 | €5,193 | - | -€5,193 | |
| Suppliers | 440/4 | €5,193 | - | -€5,193 | |
| Other amounts payable | 47/48 | €3,400 | €5,152 | +€1,752 | +51.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,566 | €2,341 | -€225 | -8.8% |
| Other operating charges | 640/8 | €1,004 | €2,620 | +€1,616 | +161.0% |
| Gross operating margin | 9900 | -€81,539 | €51,086 | +€132,625 | |
| Operating profit (loss) | 9901 | -€85,109 | €46,125 | +€131,234 | |
| Financial income | 75/76B | €80 | - | -€80 | |
| Recurring financial income | 75 | €80 | - | -€80 | |
| Financial charges | 65/66B | €7,895 | €10,729 | +€2,835 | +35.9% |
| Recurring financial charges | 65 | €7,895 | €10,729 | +€2,835 | +35.9% |
| Profit (loss) for the period before taxes | 9903 | -€92,924 | €35,396 | +€128,320 | |
| Income taxes | 67/77 | €30 | - | -€30 | |
| Profit (loss) for the period | 9904 | -€92,954 | €35,396 | +€128,350 | |
| Profit (loss) for the period to be appropriated | 9905 | -€92,954 | €35,396 | +€128,350 |
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.