Vlenatrans: 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.
Vlenatrans
Largest movements
- Tangible fixed assets +€311,670
up €311,670 (+210%), from €148,167 to €459,836
of which Land and buildings: +€317,383
- Cash +€80,811
up €80,811 (+122%), from €66,496 to €147,306
mainly Debts after one year (+€396,597) and Depreciation (+€50,244)
- Receivables within one year +€28,165
up €28,165 (+127%), from €22,169 to €50,334
of which Trade receivables: +€22,960
- Debts after one year +€396,597
up €396,597 (+618%), from €64,153 to €460,749
- Reserves +€21,467
up €21,467 (+230%), from €9,340 to €30,807
- Profit (loss) carried forward -€21,031
no longer reported in 2025 (was €21,031)
- Other debts +€20,371
up €20,371 (+196%), from €10,408 to €30,779
- Current portion of long-term debt +€9,045
up €9,045 (+29.5%), from €30,632 to €39,678
- Gross operating margin +€21,714
up €21,714 (+26.8%), from €81,065 to €102,779
- Financial charges +€2,980
up €2,980 (+72.9%), from €4,085 to €7,065
- Depreciation +€1,854
up €1,854 (+3.8%), from €48,390 to €50,244
- Taxes +€1,752
up €1,752 (+41.5%), from €4,226 to €5,978
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 | €242,411 | €665,467 | +€423,056 | +175% |
| Fixed assets | 21/28 | €148,167 | €459,836 | +€311,670 | +210% |
| Tangible fixed assets | 22/27 | €148,167 | €459,836 | +€311,670 | +210% |
| Land and buildings | 22 | €4,798 | €322,180 | +€317,383 | +6,615% |
| Plant, machinery and equipment | 23 | €407 | €4,792 | +€4,384 | +1,076% |
| Furniture and vehicles | 24 | €108,036 | €102,856 | -€5,180 | -4.8% |
| Leasing and similar rights | 25 | €34,925 | €30,008 | -€4,917 | -14.1% |
| Current assets | 29/58 | €94,244 | €205,631 | +€111,386 | +118% |
| Stocks and contracts in progress | 3 | €4,070 | €3,668 | -€402 | -9.9% |
| Stocks | 30/36 | €4,070 | €3,668 | -€402 | -9.9% |
| Amounts receivable within one year | 40/41 | €22,169 | €50,334 | +€28,165 | +127% |
| Trade receivables | 40 | €22,169 | €45,129 | +€22,960 | +104% |
| Other amounts receivable | 41 | - | €5,205 | +€5,205 | |
| Cash at bank and in hand | 54/58 | €66,496 | €147,306 | +€80,811 | +122% |
| Deferred charges and accrued income | 490/1 | €1,510 | €4,321 | +€2,812 | +186% |
| Total equity and liabilities | 10/49 | €242,411 | €665,467 | +€423,056 | +175% |
| Equity | 10/15 | €60,371 | €60,807 | +€437 | +0.7% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €9,340 | €30,807 | +€21,467 | +230% |
| Distributable reserves | 133 | €9,340 | €30,807 | +€21,467 | +230% |
| Profit (loss) carried forward | 14 | €21,031 | - | -€21,031 | |
| Amounts payable | 17/49 | €182,040 | €604,660 | +€422,619 | +232% |
| Amounts payable after more than one year | 17 | €64,153 | €460,749 | +€396,597 | +618% |
| Financial debts | 170/4 | €64,153 | €460,749 | +€396,597 | +618% |
| Amounts payable within one year | 42/48 | €117,887 | €143,910 | +€26,023 | +22.1% |
| Current portion of amounts payable after more than one year | 42 | €30,632 | €39,678 | +€9,045 | +29.5% |
| Financial debts | 43 | €53,459 | €50,334 | -€3,125 | -5.8% |
| Other loans | 439 | €53,459 | €50,334 | -€3,125 | -5.8% |
| Trade debts | 44 | €10,733 | €14,318 | +€3,584 | +33.4% |
| Suppliers | 440/4 | €10,733 | €14,318 | +€3,584 | +33.4% |
| Taxes, remuneration and social security | 45 | €12,655 | €8,802 | -€3,853 | -30.4% |
| Taxes | 450/3 | €12,655 | €6,993 | -€5,662 | -44.7% |
| Remuneration and social security | 454/9 | - | €1,810 | +€1,810 | |
| Other amounts payable | 47/48 | €10,408 | €30,779 | +€20,371 | +196% |
| Non-recurring operating income | 76A | - | €954 | +€954 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,390 | €50,244 | +€1,854 | +3.8% |
| Other operating charges | 640/8 | €5,024 | €4,488 | -€535 | -10.7% |
| Non-recurring operating charges | 66A | - | €4,198 | +€4,198 | |
| Gross operating margin | 9900 | €81,065 | €102,779 | +€21,714 | +26.8% |
| Operating profit (loss) | 9901 | €27,651 | €43,849 | +€16,198 | +58.6% |
| Financial income | 75/76B | €0 | €2 | +€2 | +4,225% |
| Recurring financial income | 75 | €0 | €2 | +€2 | +4,225% |
| Financial charges | 65/66B | €4,085 | €7,065 | +€2,980 | +72.9% |
| Recurring financial charges | 65 | €4,085 | €7,065 | +€2,980 | +72.9% |
| Profit (loss) for the period before taxes | 9903 | €23,566 | €36,785 | +€13,219 | +56.1% |
| Income taxes | 67/77 | €4,226 | €5,978 | +€1,752 | +41.5% |
| Profit (loss) for the period | 9904 | €19,340 | €30,807 | +€11,467 | +59.3% |
| Profit (loss) for the period to be appropriated | 9905 | €19,340 | €30,807 | +€11,467 | +59.3% |
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 14 October 2026 via checked.be.