Vlerick Fietsen: 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.
Vlerick Fietsen
Largest movements
- Cash +€14,492
up €14,492 (+8.6%), from €167,552 to €182,045
mainly Net result for the year (+€23,119) and Depreciation (+€4,842)
- Stocks and contracts +€6,311
up €6,311 (+4.3%), from €146,956 to €153,267
- Reserves +€23,119
up €23,119 (+8.2%), from €280,350 to €303,469
- Tax, wage and social debts -€7,013
down €7,013 (-62.8%), from €11,159 to €4,146
- Gross operating margin -€16,758
down €16,758 (-27.8%), from €60,188 to €43,430
- Taxes -€4,879
down €4,879 (-28.3%), from €17,268 to €12,389
- Depreciation -€1,350
down €1,350 (-21.8%), from €6,192 to €4,842
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 | €322,749 | €337,138 | +€14,389 | +4.5% |
| Fixed assets | 21/28 | €4,929 | €87 | -€4,842 | -98.2% |
| Intangible fixed assets | 21 | €3,083 | - | -€3,083 | |
| Tangible fixed assets | 22/27 | €1,847 | €87 | -€1,759 | -95.3% |
| Furniture and vehicles | 24 | €1,847 | €87 | -€1,759 | -95.3% |
| Current assets | 29/58 | €317,819 | €337,051 | +€19,231 | +6.1% |
| Stocks and contracts in progress | 3 | €146,956 | €153,267 | +€6,311 | +4.3% |
| Stocks | 30/36 | €146,956 | €153,267 | +€6,311 | +4.3% |
| Amounts receivable within one year | 40/41 | €2,762 | €1,069 | -€1,693 | -61.3% |
| Trade receivables | 40 | €2,762 | - | -€2,762 | |
| Other amounts receivable | 41 | - | €1,069 | +€1,069 | |
| Cash at bank and in hand | 54/58 | €167,552 | €182,045 | +€14,492 | +8.6% |
| Deferred charges and accrued income | 490/1 | €549 | €670 | +€121 | +22.1% |
| Total equity and liabilities | 10/49 | €322,749 | €337,138 | +€14,389 | +4.5% |
| Equity | 10/15 | €287,795 | €310,914 | +€23,119 | +8.0% |
| Contributions | 10/11 | €7,445 | €7,445 | = | 0.0% |
| Reserves | 13 | €280,350 | €303,469 | +€23,119 | +8.2% |
| Distributable reserves | 133 | €280,350 | €303,469 | +€23,119 | +8.2% |
| Amounts payable | 17/49 | €34,954 | €26,224 | -€8,729 | -25.0% |
| Amounts payable within one year | 42/48 | €33,371 | €24,941 | -€8,430 | -25.3% |
| Trade debts | 44 | €3,290 | €3,467 | +€177 | +5.4% |
| Suppliers | 440/4 | €3,290 | €3,467 | +€177 | +5.4% |
| Taxes, remuneration and social security | 45 | €11,159 | €4,146 | -€7,013 | -62.8% |
| Taxes | 450/3 | €11,159 | €4,146 | -€7,013 | -62.8% |
| Other amounts payable | 47/48 | €18,922 | €17,329 | -€1,594 | -8.4% |
| Accrued charges and deferred income | 492/3 | €1,583 | €1,283 | -€300 | -18.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,192 | €4,842 | -€1,350 | -21.8% |
| Other operating charges | 640/8 | €721 | €904 | +€183 | +25.4% |
| Gross operating margin | 9900 | €60,188 | €43,430 | -€16,758 | -27.8% |
| Operating profit (loss) | 9901 | €53,275 | €37,684 | -€15,591 | -29.3% |
| Financial income | 75/76B | €1,204 | €1,353 | +€148 | +12.3% |
| Recurring financial income | 75 | €1,204 | €1,353 | +€148 | +12.3% |
| Financial charges | 65/66B | €3,850 | €3,529 | -€321 | -8.3% |
| Recurring financial charges | 65 | €3,850 | €3,529 | -€321 | -8.3% |
| Profit (loss) for the period before taxes | 9903 | €50,629 | €35,508 | -€15,121 | -29.9% |
| Income taxes | 67/77 | €17,268 | €12,389 | -€4,879 | -28.3% |
| Profit (loss) for the period | 9904 | €33,361 | €23,119 | -€10,243 | -30.7% |
| Profit (loss) for the period to be appropriated | 9905 | €33,361 | €23,119 | -€10,243 | -30.7% |
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 28 October 2026 via checked.be.