VLE4W: 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.
VLE4W
Largest movements
- Tangible fixed assets -€7,360
down €7,360 (-1.8%), from €413,012 to €405,652
- Cash -€5,279
down €5,279 (-24.7%), from €21,372 to €16,093
mainly Debts after one year (-€12,698) and Receivables after one year (-€324)
- Debts after one year -€12,698
down €12,698 (-4.0%), from €321,406 to €308,708
of which Financial debts: -€32,698
- Gross operating margin +€948
up €948 (+4.5%), from €21,265 to €22,212
- Financial charges -€466
down €466 (-3.4%), from €13,776 to €13,311
- Other operating charges +€275
up €275 (+27.1%), from €1,013 to €1,288
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
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 | €435,722 | €423,734 | -€11,988 | -2.8% |
| Fixed assets | 21/28 | €413,012 | €405,652 | -€7,360 | -1.8% |
| Tangible fixed assets | 22/27 | €413,012 | €405,652 | -€7,360 | -1.8% |
| Land and buildings | 22 | €413,012 | €405,652 | -€7,360 | -1.8% |
| Current assets | 29/58 | €22,710 | €18,082 | -€4,628 | -20.4% |
| Amounts receivable after more than one year | 29 | €514 | €838 | +€324 | +63.1% |
| Other amounts receivable | 291 | €514 | €838 | +€324 | +63.1% |
| Amounts receivable within one year | 40/41 | €794 | €1,010 | +€216 | +27.1% |
| Trade receivables | 40 | - | €224 | +€224 | |
| Other amounts receivable | 41 | €794 | €786 | -€9 | -1.1% |
| Cash at bank and in hand | 54/58 | €21,372 | €16,093 | -€5,279 | -24.7% |
| Deferred charges and accrued income | 490/1 | €30 | €141 | +€111 | +374.0% |
| Total equity and liabilities | 10/49 | €435,722 | €423,734 | -€11,988 | -2.8% |
| Equity | 10/15 | €100,087 | €100,341 | +€254 | +0.3% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €972 | €972 | = | 0.0% |
| Distributable reserves | 133 | €972 | €972 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€885 | -€631 | +€254 | +28.7% |
| Amounts payable | 17/49 | €335,635 | €323,393 | -€12,242 | -3.6% |
| Amounts payable after more than one year | 17 | €321,406 | €308,708 | -€12,698 | -4.0% |
| Financial debts | 170/4 | €241,406 | €208,708 | -€32,698 | -13.5% |
| Other amounts payable | 178/9 | €80,000 | €100,000 | +€20,000 | +25.0% |
| Amounts payable within one year | 42/48 | €12,479 | €12,923 | +€444 | +3.6% |
| Current portion of amounts payable after more than one year | 42 | €12,207 | €12,698 | +€492 | +4.0% |
| Trade debts | 44 | €272 | €224 | -€48 | -17.6% |
| Suppliers | 440/4 | €272 | €224 | -€48 | -17.6% |
| Accrued charges and deferred income | 492/3 | €1,750 | €1,763 | +€13 | +0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,360 | €7,360 | = | 0.0% |
| Other operating charges | 640/8 | €1,013 | €1,288 | +€275 | +27.1% |
| Gross operating margin | 9900 | €21,265 | €22,212 | +€948 | +4.5% |
| Operating profit (loss) | 9901 | €12,892 | €13,565 | +€673 | +5.2% |
| Financial charges | 65/66B | €13,776 | €13,311 | -€466 | -3.4% |
| Recurring financial charges | 65 | €13,776 | €13,311 | -€466 | -3.4% |
| Profit (loss) for the period before taxes | 9903 | -€885 | €254 | +€1,138 | |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€885 | €254 | +€1,138 | |
| Profit (loss) for the period to be appropriated | 9905 | -€885 | €254 | +€1,138 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.