VLEGEL TECHNOLOGY: 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.
VLEGEL TECHNOLOGY
Largest movements
- Receivables within one year +€161,987
up €161,987 (+91.5%), from €177,033 to €339,020
of which Trade receivables: +€153,734
- Stocks and contracts +€29,220
new in 2025: €29,220
- Cash +€29,065
up €29,065 (+54.8%), from €53,028 to €82,093
mainly Short-term financial debts (+€70,000) and Tax, wage and social debts (+€62,620)
- Tangible fixed assets -€13,077
down €13,077 (-31.7%), from €41,233 to €28,157
of which Furniture and vehicles: -€8,762
- Deferred charges and accrued income +€12,274
new in 2025: €12,274
- Short-term financial debts +€70,000
new in 2025: €70,000
- Tax, wage and social debts +€62,620
up €62,620 (+125%), from €50,193 to €112,814
of which Taxes: +€36,021
- Reserves +€36,854
up €36,854 (+31.4%), from €117,466 to €154,321
- Other debts +€21,256
up €21,256 (+1,280%), from €1,661 to €22,917
- Debts after one year -€16,214
down €16,214 (-66.6%), from €24,337 to €8,123
- Gross operating margin +€209,471
up €209,471 (+69.0%), from €303,732 to €513,203
- Staff costs +€146,370
up €146,370 (+54.3%), from €269,624 to €415,995
- Taxes +€12,649
up €12,649 (+246%), from €5,150 to €17,799
- Financial charges +€11,802
up €11,802 (+296%), from €3,990 to €15,792
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €300,091 | €511,462 | +€211,371 | +70.4% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €70,030 | €48,855 | -€21,175 | -30.2% |
| Intangible fixed assets | 21 | €28,797 | €20,698 | -€8,099 | -28.1% |
| Tangible fixed assets | 22/27 | €41,233 | €28,157 | -€13,077 | -31.7% |
| Plant, machinery and equipment | 23 | €3,291 | €5,342 | +€2,052 | +62.4% |
| Furniture and vehicles | 24 | €27,005 | €18,243 | -€8,762 | -32.4% |
| Leasing and similar rights | 25 | €10,938 | €4,571 | -€6,367 | -58.2% |
| Current assets | 29/58 | €230,061 | €462,607 | +€232,547 | +101% |
| Stocks and contracts in progress | 3 | - | €29,220 | +€29,220 | |
| Stocks | 30/36 | - | €29,220 | +€29,220 | |
| Amounts receivable within one year | 40/41 | €177,033 | €339,020 | +€161,987 | +91.5% |
| Trade receivables | 40 | €174,275 | €328,008 | +€153,734 | +88.2% |
| Other amounts receivable | 41 | €2,758 | €11,012 | +€8,254 | +299% |
| Cash at bank and in hand | 54/58 | €53,028 | €82,093 | +€29,065 | +54.8% |
| Deferred charges and accrued income | 490/1 | - | €12,274 | +€12,274 | |
| Total equity and liabilities | 10/49 | €300,091 | €511,462 | +€211,371 | +70.4% |
| Equity | 10/15 | €160,466 | €197,321 | +€36,854 | +23.0% |
| Contributions | 10/11 | €43,000 | €43,000 | = | 0.0% |
| Reserves | 13 | €117,466 | €154,321 | +€36,854 | +31.4% |
| Distributable reserves | 133 | €117,466 | €154,321 | +€36,854 | +31.4% |
| Amounts payable | 17/49 | €139,625 | €314,142 | +€174,517 | +125% |
| Amounts payable after more than one year | 17 | €24,337 | €8,123 | -€16,214 | -66.6% |
| Financial debts | 170/4 | €24,337 | €8,123 | -€16,214 | -66.6% |
| Amounts payable within one year | 42/48 | €115,288 | €290,779 | +€175,492 | +152% |
| Current portion of amounts payable after more than one year | 42 | €13,888 | €27,651 | +€13,764 | +99.1% |
| Financial debts | 43 | - | €70,000 | +€70,000 | |
| Credit institutions | 430/8 | - | €70,000 | +€70,000 | |
| Trade debts | 44 | €49,546 | €57,398 | +€7,852 | +15.8% |
| Suppliers | 440/4 | €49,546 | €57,398 | +€7,852 | +15.8% |
| Taxes, remuneration and social security | 45 | €50,193 | €112,814 | +€62,620 | +125% |
| Taxes | 450/3 | €27,314 | €63,335 | +€36,021 | +132% |
| Remuneration and social security | 454/9 | €22,880 | €49,478 | +€26,599 | +116% |
| Other amounts payable | 47/48 | €1,661 | €22,917 | +€21,256 | +1,280% |
| Accrued charges and deferred income | 492/3 | - | €15,239 | +€15,239 | |
| Remuneration, social security and pensions | 62 | €269,624 | €415,995 | +€146,370 | +54.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,682 | €26,277 | +€3,595 | +15.8% |
| Other operating charges | 640/8 | €1,504 | €719 | -€785 | -52.2% |
| Gross operating margin | 9900 | €303,732 | €513,203 | +€209,471 | +69.0% |
| Operating profit (loss) | 9901 | €9,922 | €70,213 | +€60,290 | +608% |
| Financial income | 75/76B | €1,003 | €232 | -€771 | -76.9% |
| Recurring financial income | 75 | €1,003 | €232 | -€771 | -76.9% |
| Financial charges | 65/66B | €3,990 | €15,792 | +€11,802 | +296% |
| Recurring financial charges | 65 | €3,990 | €15,792 | +€11,802 | +296% |
| Profit (loss) for the period before taxes | 9903 | €6,936 | €54,653 | +€47,718 | +688% |
| Income taxes | 67/77 | €5,150 | €17,799 | +€12,649 | +246% |
| Profit (loss) for the period | 9904 | €1,786 | €36,854 | +€35,069 | +1,964% |
| Profit (loss) for the period to be appropriated | 9905 | €1,786 | €36,854 | +€35,069 | +1,964% |
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 17 October 2026 via checked.be.