VLEUGELS D: 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.
VLEUGELS D
Largest movements
- Cash +€44,248
up €44,248 (+68.6%), from €64,523 to €108,771
mainly Net result for the year (+€23,593) and Depreciation (+€14,099)
- Tangible fixed assets -€14,099
down €14,099 (-24.8%), from €56,903 to €42,804
of which Furniture and vehicles: -€13,249
- Receivables within one year -€5,882
down €5,882 (-42.6%), from €13,803 to €7,921
of which Trade receivables: -€5,593
- Profit (loss) carried forward +€23,593
up €23,593 (+34.2%), from €68,933 to €92,526
- Tax, wage and social debts +€8,858
up €8,858 (+243%), from €3,651 to €12,509
- Debts after one year -€5,120
down €5,120 (-59.1%), from €8,660 to €3,541
- Trade debts -€2,404
down €2,404 (-77.5%), from €3,102 to €698
- Gross operating margin +€13,510
up €13,510 (+39.8%), from €33,912 to €47,422
- Taxes +€5,208
up €5,208 (+143%), from €3,651 to €8,858
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 | €135,243 | €159,509 | +€24,267 | +17.9% |
| Fixed assets | 21/28 | €56,903 | €42,804 | -€14,099 | -24.8% |
| Tangible fixed assets | 22/27 | €56,903 | €42,804 | -€14,099 | -24.8% |
| Plant, machinery and equipment | 23 | €2,378 | €1,528 | -€850 | -35.7% |
| Furniture and vehicles | 24 | €54,525 | €41,276 | -€13,249 | -24.3% |
| Current assets | 29/58 | €78,339 | €116,705 | +€38,366 | +49.0% |
| Amounts receivable within one year | 40/41 | €13,803 | €7,921 | -€5,882 | -42.6% |
| Trade receivables | 40 | €13,285 | €7,692 | -€5,593 | -42.1% |
| Other amounts receivable | 41 | €518 | €229 | -€289 | -55.8% |
| Cash at bank and in hand | 54/58 | €64,523 | €108,771 | +€44,248 | +68.6% |
| Deferred charges and accrued income | 490/1 | €13 | €14 | +€0 | +3.4% |
| Total equity and liabilities | 10/49 | €135,243 | €159,509 | +€24,267 | +17.9% |
| Equity | 10/15 | €70,933 | €94,526 | +€23,593 | +33.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €68,933 | €92,526 | +€23,593 | +34.2% |
| Amounts payable | 17/49 | €64,309 | €64,983 | +€674 | +1.0% |
| Amounts payable after more than one year | 17 | €8,660 | €3,541 | -€5,120 | -59.1% |
| Financial debts | 170/4 | €8,660 | €3,541 | -€5,120 | -59.1% |
| Amounts payable within one year | 42/48 | €55,457 | €61,437 | +€5,980 | +10.8% |
| Current portion of amounts payable after more than one year | 42 | €4,899 | €5,120 | +€221 | +4.5% |
| Trade debts | 44 | €3,102 | €698 | -€2,404 | -77.5% |
| Suppliers | 440/4 | €3,102 | €698 | -€2,404 | -77.5% |
| Taxes, remuneration and social security | 45 | €3,651 | €12,509 | +€8,858 | +243% |
| Taxes | 450/3 | €3,651 | €12,509 | +€8,858 | +243% |
| Other amounts payable | 47/48 | €43,805 | €43,110 | -€695 | -1.6% |
| Accrued charges and deferred income | 492/3 | €192 | €6 | -€187 | -97.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,042 | €14,099 | +€57 | +0.4% |
| Other operating charges | 640/8 | €659 | €231 | -€428 | -64.9% |
| Gross operating margin | 9900 | €33,912 | €47,422 | +€13,510 | +39.8% |
| Operating profit (loss) | 9901 | €19,211 | €33,091 | +€13,881 | +72.3% |
| Financial charges | 65/66B | €867 | €640 | -€227 | -26.2% |
| Recurring financial charges | 65 | €867 | €640 | -€227 | -26.2% |
| Profit (loss) for the period before taxes | 9903 | €18,343 | €32,451 | +€14,108 | +76.9% |
| Income taxes | 67/77 | €3,651 | €8,858 | +€5,208 | +143% |
| Profit (loss) for the period | 9904 | €14,693 | €23,593 | +€8,900 | +60.6% |
| Profit (loss) for the period to be appropriated | 9905 | €14,693 | €23,593 | +€8,900 | +60.6% |
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 15 October 2026 via checked.be.