VLEMIS: 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.
VLEMIS
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Other debts +€412,587
up €412,587 (+53.0%), from €778,492 to €1.2m
- Current portion of long-term debt -€344,291
down €344,291 (-57.4%), from €599,869 to €255,578
- Debts after one year -€255,578
down €255,578 (-5.6%), from €4.5m to €4.3m
- Reserves +€221,150
up €221,150 (+37.5%), from €589,916 to €811,065
of which Distributable reserves: +€230,000
- Trade debts -€81,047
down €81,047 (-41.8%), from €193,835 to €112,788
- Gross operating margin +€583,007
up €583,007 (+234.7%), from €248,442 to €831,449
- Depreciation +€69,117
up €69,117 (+18.3%), from €377,483 to €446,600
- Taxes +€23,075
up €23,075 (+3202.4%), from €721 to €23,796
- Financial income -€16,415
down €16,415 (-98.7%), from €16,626 to €211
- Other operating charges +€14,257
up €14,257 (+240.2%), from €5,936 to €20,193
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 | €6,531,732 | €6,512,168 | -€19,564 | -0.3% |
| Fixed assets | 21/28 | €6,277,853 | €6,269,216 | -€8,637 | -0.1% |
| Tangible fixed assets | 22/27 | €6,276,462 | €6,267,825 | -€8,637 | -0.1% |
| Land and buildings | 22 | €6,258,016 | €6,254,272 | -€3,744 | -0.1% |
| Plant, machinery and equipment | 23 | €7,646 | €5,691 | -€1,955 | -25.6% |
| Furniture and vehicles | 24 | €10,800 | €7,862 | -€2,938 | -27.2% |
| Financial fixed assets | 28 | €1,391 | €1,391 | = | 0.0% |
| Current assets | 29/58 | €253,879 | €242,952 | -€10,927 | -4.3% |
| Stocks and contracts in progress | 3 | €25,000 | €25,000 | = | 0.0% |
| Stocks | 30/36 | €25,000 | €25,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €123,261 | €120,691 | -€2,570 | -2.1% |
| Trade receivables | 40 | €42,009 | €45,371 | +€3,361 | +8.0% |
| Other amounts receivable | 41 | €81,252 | €75,320 | -€5,931 | -7.3% |
| Cash at bank and in hand | 54/58 | €83,582 | €76,081 | -€7,501 | -9.0% |
| Deferred charges and accrued income | 490/1 | €22,036 | €21,180 | -€856 | -3.9% |
| Total equity and liabilities | 10/49 | €6,531,732 | €6,512,168 | -€19,564 | -0.3% |
| Equity | 10/15 | €308,652 | €532,578 | +€223,926 | +72.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €589,916 | €811,065 | +€221,150 | +37.5% |
| Tax-exempt reserves | 132 | €233,364 | €224,513 | -€8,850 | -3.8% |
| Distributable reserves | 133 | €356,552 | €586,552 | +€230,000 | +64.5% |
| Profit (loss) carried forward | 14 | -€343,263 | -€340,487 | +€2,777 | +0.8% |
| Provisions and deferred taxes | 16 | €70,920 | €67,970 | -€2,950 | -4.2% |
| Deferred taxes | 168 | €70,920 | €67,970 | -€2,950 | -4.2% |
| Amounts payable | 17/49 | €6,152,160 | €5,911,620 | -€240,540 | -3.9% |
| Amounts payable after more than one year | 17 | €4,539,458 | €4,283,879 | -€255,578 | -5.6% |
| Financial debts | 170/4 | €4,539,458 | €4,283,879 | -€255,578 | -5.6% |
| Amounts payable within one year | 42/48 | €1,584,345 | €1,601,153 | +€16,807 | +1.1% |
| Current portion of amounts payable after more than one year | 42 | €599,869 | €255,578 | -€344,291 | -57.4% |
| Trade debts | 44 | €193,835 | €112,788 | -€81,047 | -41.8% |
| Suppliers | 440/4 | €193,835 | €112,788 | -€81,047 | -41.8% |
| Taxes, remuneration and social security | 45 | €12,150 | €41,708 | +€29,557 | +243.3% |
| Taxes | 450/3 | €6,189 | €38,709 | +€32,520 | +525.5% |
| Remuneration and social security | 454/9 | €5,962 | €2,999 | -€2,963 | -49.7% |
| Other amounts payable | 47/48 | €778,492 | €1,191,079 | +€412,587 | +53.0% |
| Accrued charges and deferred income | 492/3 | €28,357 | €26,588 | -€1,768 | -6.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €377,483 | €446,600 | +€69,117 | +18.3% |
| Other operating charges | 640/8 | €5,936 | €20,193 | +€14,257 | +240.2% |
| Gross operating margin | 9900 | €248,442 | €831,449 | +€583,007 | +234.7% |
| Operating profit (loss) | 9901 | -€134,977 | €364,656 | +€499,634 | |
| Financial income | 75/76B | €16,626 | €211 | -€16,415 | -98.7% |
| Recurring financial income | 75 | €16,626 | €211 | -€16,415 | -98.7% |
| Financial charges | 65/66B | €121,134 | €120,096 | -€1,038 | -0.9% |
| Recurring financial charges | 65 | €121,134 | €120,096 | -€1,038 | -0.9% |
| Profit (loss) for the period before taxes | 9903 | -€239,485 | €244,772 | +€484,257 | |
| Transfer from deferred taxes | 780 | €2,950 | €2,950 | = | 0.0% |
| Income taxes | 67/77 | €721 | €23,796 | +€23,075 | +3202.4% |
| Profit (loss) for the period | 9904 | -€237,256 | €223,926 | +€461,182 | |
| Transfer from tax-exempt reserves | 789 | €8,850 | €8,850 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€228,405 | €232,777 | +€461,182 |
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 28 September 2026 via checked.be.