VLAVAN: 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.
VLAVAN
Largest movements
- Cash +€114,372
up €114,372 (+145%), from €78,917 to €193,290
mainly Other debts (+€118,009) and Net result for the year (+€108,593)
- Current investments -€50,000
no longer reported in 2025 (was €50,000)
- Receivables within one year +€19,122
up €19,122 (+73.3%), from €26,070 to €45,192
of which Trade receivables: +€21,838
- Tangible fixed assets -€8,541
down €8,541 (-5.9%), from €145,312 to €136,771
- Deferred charges and accrued income +€6,180
up €6,180 (+82.6%), from €7,486 to €13,666
- Other debts +€118,009
up €118,009 (+92.8%), from €127,202 to €245,211
- Reserves -€40,000
down €40,000 (-25.4%), from €157,520 to €117,520
- Depreciation +€14,145
up €14,145 (+77.3%), from €18,303 to €32,448
- Gross operating margin +€12,275
up €12,275 (+7.4%), from €166,539 to €178,814
- Financial charges +€3,707
up €3,707 (+349%), from €1,063 to €4,771
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €320,285 | €401,419 | +€81,133 | +25.3% |
| Fixed assets | 21/28 | €157,812 | €149,271 | -€8,541 | -5.4% |
| Tangible fixed assets | 22/27 | €145,312 | €136,771 | -€8,541 | -5.9% |
| Land and buildings | 22 | €34,456 | €30,398 | -€4,058 | -11.8% |
| Plant, machinery and equipment | 23 | €648 | €475 | -€173 | -26.7% |
| Furniture and vehicles | 24 | €106,707 | €103,503 | -€3,204 | -3.0% |
| Other tangible fixed assets | 26 | €3,501 | €2,395 | -€1,106 | -31.6% |
| Financial fixed assets | 28 | €12,500 | €12,500 | = | 0.0% |
| Current assets | 29/58 | €162,473 | €252,147 | +€89,674 | +55.2% |
| Amounts receivable within one year | 40/41 | €26,070 | €45,192 | +€19,122 | +73.3% |
| Trade receivables | 40 | €23,214 | €45,052 | +€21,838 | +94.1% |
| Other amounts receivable | 41 | €2,856 | €140 | -€2,716 | -95.1% |
| Current investments | 50/53 | €50,000 | - | -€50,000 | |
| Cash at bank and in hand | 54/58 | €78,917 | €193,290 | +€114,372 | +145% |
| Deferred charges and accrued income | 490/1 | €7,486 | €13,666 | +€6,180 | +82.6% |
| Total equity and liabilities | 10/49 | €320,285 | €401,419 | +€81,133 | +25.3% |
| Equity | 10/15 | €176,120 | €136,120 | -€40,000 | -22.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €157,520 | €117,520 | -€40,000 | -25.4% |
| Distributable reserves | 133 | €157,520 | €117,520 | -€40,000 | -25.4% |
| Amounts payable | 17/49 | €144,165 | €265,299 | +€121,133 | +84.0% |
| Amounts payable within one year | 42/48 | €142,373 | €260,600 | +€118,227 | +83.0% |
| Trade debts | 44 | €583 | €1,118 | +€536 | +91.9% |
| Suppliers | 440/4 | €583 | €1,118 | +€536 | +91.9% |
| Taxes, remuneration and social security | 45 | €14,589 | €14,271 | -€318 | -2.2% |
| Taxes | 450/3 | €12,812 | €14,271 | +€1,459 | +11.4% |
| Remuneration and social security | 454/9 | €1,777 | - | -€1,777 | |
| Other amounts payable | 47/48 | €127,202 | €245,211 | +€118,009 | +92.8% |
| Accrued charges and deferred income | 492/3 | €1,792 | €4,699 | +€2,907 | +162% |
| Non-recurring operating income | 76A | - | €6,173 | +€6,173 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,303 | €32,448 | +€14,145 | +77.3% |
| Other operating charges | 640/8 | €1,494 | €1,728 | +€234 | +15.6% |
| Gross operating margin | 9900 | €166,539 | €178,814 | +€12,275 | +7.4% |
| Operating profit (loss) | 9901 | €146,742 | €144,638 | -€2,103 | -1.4% |
| Financial income | 75/76B | €66 | €1,550 | +€1,484 | +2,232% |
| Recurring financial income | 75 | €66 | €1,550 | +€1,484 | +2,232% |
| Financial charges | 65/66B | €1,063 | €4,771 | +€3,707 | +349% |
| Recurring financial charges | 65 | €1,063 | €4,771 | +€3,707 | +349% |
| Profit (loss) for the period before taxes | 9903 | €145,745 | €141,418 | -€4,327 | -3.0% |
| Income taxes | 67/77 | €34,144 | €32,825 | -€1,319 | -3.9% |
| Profit (loss) for the period | 9904 | €111,601 | €108,593 | -€3,008 | -2.7% |
| Profit (loss) for the period to be appropriated | 9905 | €111,601 | €108,593 | -€3,008 | -2.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.