VLC FINANCES: 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.
VLC FINANCES
Largest movements
- Intangible fixed assets -€48,500
down €48,500 (-12.4%), from €392,119 to €343,619
- Tangible fixed assets +€42,380
up €42,380 (+37.8%), from €112,135 to €154,515
of which Other tangible fixed assets: +€40,179
- Receivables within one year +€26,737
up €26,737 (+735%), from €3,635 to €30,372
- Reserves +€58,000
up €58,000 (+109%), from €53,000 to €111,000
- Debts after one year -€39,188
down €39,188 (-11.0%), from €355,941 to €316,752
- Tax, wage and social debts -€28,435
down €28,435 (-41.7%), from €68,174 to €39,740
of which Taxes: -€28,923
- Accrued charges and deferred income +€18,250
up €18,250 (+153%), from €11,966 to €30,216
- Trade debts +€10,849
up €10,849 (+106%), from €10,204 to €21,053
- Depreciation +€7,315
up €7,315 (+9.6%), from €75,807 to €83,121
- Staff costs +€5,564
up €5,564 (+3.4%), from €162,698 to €168,261
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 | €628,289 | €649,125 | +€20,836 | +3.3% |
| Fixed assets | 21/28 | €504,255 | €498,134 | -€6,120 | -1.2% |
| Intangible fixed assets | 21 | €392,119 | €343,619 | -€48,500 | -12.4% |
| Tangible fixed assets | 22/27 | €112,135 | €154,515 | +€42,380 | +37.8% |
| Furniture and vehicles | 24 | €98,122 | €100,323 | +€2,200 | +2.2% |
| Other tangible fixed assets | 26 | €14,013 | €54,193 | +€40,179 | +287% |
| Current assets | 29/58 | €124,034 | €150,991 | +€26,957 | +21.7% |
| Amounts receivable after more than one year | 29 | €58,462 | €61,718 | +€3,256 | +5.6% |
| Other amounts receivable | 291 | €58,462 | €61,718 | +€3,256 | +5.6% |
| Amounts receivable within one year | 40/41 | €3,635 | €30,372 | +€26,737 | +735% |
| Other amounts receivable | 41 | €3,635 | €30,372 | +€26,737 | +735% |
| Current investments | 50/53 | €156 | €156 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €38,816 | €33,552 | -€5,264 | -13.6% |
| Deferred charges and accrued income | 490/1 | €22,964 | €25,192 | +€2,227 | +9.7% |
| Total equity and liabilities | 10/49 | €628,289 | €649,125 | +€20,836 | +3.3% |
| Equity | 10/15 | €88,152 | €146,304 | +€58,152 | +66.0% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €53,000 | €111,000 | +€58,000 | +109% |
| Distributable reserves | 133 | €53,000 | €111,000 | +€58,000 | +109% |
| Profit (loss) carried forward | 14 | €5,152 | €5,304 | +€152 | +2.9% |
| Amounts payable | 17/49 | €540,137 | €502,821 | -€37,316 | -6.9% |
| Amounts payable after more than one year | 17 | €355,941 | €316,752 | -€39,188 | -11.0% |
| Financial debts | 170/4 | €355,941 | €316,752 | -€39,188 | -11.0% |
| Amounts payable within one year | 42/48 | €172,230 | €155,853 | -€16,377 | -9.5% |
| Current portion of amounts payable after more than one year | 42 | €81,161 | €88,394 | +€7,233 | +8.9% |
| Financial debts | 43 | €12,692 | €6,667 | -€6,025 | -47.5% |
| Credit institutions | 430/8 | €12,692 | €6,667 | -€6,025 | -47.5% |
| Trade debts | 44 | €10,204 | €21,053 | +€10,849 | +106% |
| Suppliers | 440/4 | €10,204 | €21,053 | +€10,849 | +106% |
| Taxes, remuneration and social security | 45 | €68,174 | €39,740 | -€28,435 | -41.7% |
| Taxes | 450/3 | €45,347 | €16,424 | -€28,923 | -63.8% |
| Remuneration and social security | 454/9 | €22,827 | €23,315 | +€488 | +2.1% |
| Accrued charges and deferred income | 492/3 | €11,966 | €30,216 | +€18,250 | +153% |
| Remuneration, social security and pensions | 62 | €162,698 | €168,261 | +€5,564 | +3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €75,807 | €83,121 | +€7,315 | +9.6% |
| Other operating charges | 640/8 | €6,868 | €3,216 | -€3,652 | -53.2% |
| Gross operating margin | 9900 | €442,350 | €443,275 | +€925 | +0.2% |
| Operating profit (loss) | 9901 | €196,979 | €188,677 | -€8,302 | -4.2% |
| Financial income | 75/76B | €3,171 | €4,981 | +€1,810 | +57.1% |
| Recurring financial income | 75 | €3,171 | €4,981 | +€1,810 | +57.1% |
| Financial charges | 65/66B | €106,805 | €105,149 | -€1,657 | -1.6% |
| Recurring financial charges | 65 | €106,805 | €105,149 | -€1,657 | -1.6% |
| Profit (loss) for the period before taxes | 9903 | €93,344 | €88,509 | -€4,835 | -5.2% |
| Income taxes | 67/77 | €30,061 | €30,357 | +€296 | +1.0% |
| Profit (loss) for the period | 9904 | €63,283 | €58,152 | -€5,132 | -8.1% |
| Profit (loss) for the period to be appropriated | 9905 | €63,283 | €58,152 | -€5,132 | -8.1% |
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 23 October 2026 via checked.be.