Vlenot: 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.
Vlenot
Largest movements
- Cash +€54,663
up €54,663 (+132.4%), from €41,273 to €95,936
mainly Other debts (+€84,826) and Net result for the year (+€82,113)
- Receivables within one year -€36,358
down €36,358 (-52.8%), from €68,858 to €32,500
of which Trade receivables: -€35,936
- Tangible fixed assets -€11,763
down €11,763 (-73.9%), from €15,911 to €4,148
- Other debts +€84,826
up €84,826 (+7517.1%), from €1,128 to €85,955
- Reserves -€80,687
down €80,687 (-81.6%), from €98,881 to €18,194
- Tax, wage and social debts +€2,670
up €2,670 (+12.7%), from €21,066 to €23,736
- Gross operating margin +€43,206
up €43,206 (+56.8%), from €76,057 to €119,264
- Taxes +€9,694
up €9,694 (+68.2%), from €14,216 to €23,909
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 | €126,229 | €133,013 | +€6,784 | +5.4% |
| Fixed assets | 21/28 | €15,911 | €4,148 | -€11,763 | -73.9% |
| Tangible fixed assets | 22/27 | €15,911 | €4,148 | -€11,763 | -73.9% |
| Furniture and vehicles | 24 | €15,911 | €4,148 | -€11,763 | -73.9% |
| Current assets | 29/58 | €110,318 | €128,864 | +€18,546 | +16.8% |
| Amounts receivable within one year | 40/41 | €68,858 | €32,500 | -€36,358 | -52.8% |
| Trade receivables | 40 | €38,436 | €2,500 | -€35,936 | -93.5% |
| Other amounts receivable | 41 | €30,421 | €30,000 | -€421 | -1.4% |
| Cash at bank and in hand | 54/58 | €41,273 | €95,936 | +€54,663 | +132.4% |
| Deferred charges and accrued income | 490/1 | €187 | €428 | +€241 | +129.1% |
| Total equity and liabilities | 10/49 | €126,229 | €133,013 | +€6,784 | +5.4% |
| Equity | 10/15 | €103,881 | €23,194 | -€80,687 | -77.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €98,881 | €18,194 | -€80,687 | -81.6% |
| Distributable reserves | 133 | €98,881 | €18,194 | -€80,687 | -81.6% |
| Amounts payable | 17/49 | €22,349 | €109,819 | +€87,470 | +391.4% |
| Amounts payable within one year | 42/48 | €22,349 | €109,819 | +€87,470 | +391.4% |
| Trade debts | 44 | €154 | €128 | -€26 | -16.8% |
| Suppliers | 440/4 | €154 | €128 | -€26 | -16.8% |
| Taxes, remuneration and social security | 45 | €21,066 | €23,736 | +€2,670 | +12.7% |
| Taxes | 450/3 | €21,066 | €23,736 | +€2,670 | +12.7% |
| Other amounts payable | 47/48 | €1,128 | €85,955 | +€84,826 | +7517.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,746 | €11,763 | +€16 | +0.1% |
| Other operating charges | 640/8 | €443 | €950 | +€506 | +114.2% |
| Gross operating margin | 9900 | €76,057 | €119,264 | +€43,206 | +56.8% |
| Operating profit (loss) | 9901 | €63,868 | €106,551 | +€42,683 | +66.8% |
| Financial charges | 65/66B | €88 | €528 | +€440 | +497.1% |
| Recurring financial charges | 65 | €88 | €528 | +€440 | +497.1% |
| Profit (loss) for the period before taxes | 9903 | €63,779 | €106,023 | +€42,244 | +66.2% |
| Income taxes | 67/77 | €14,216 | €23,909 | +€9,694 | +68.2% |
| Profit (loss) for the period | 9904 | €49,564 | €82,113 | +€32,550 | +65.7% |
| Profit (loss) for the period to be appropriated | 9905 | €49,564 | €82,113 | +€32,550 | +65.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.