Vleugels Management: 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 Management
Largest movements
- Tangible fixed assets -€90,089
down €90,089 (-10.2%), from €884,821 to €794,732
of which Land and buildings: -€81,437
- Cash -€46,845
down €46,845 (-97.8%), from €47,908 to €1,063
mainly Debts after one year (-€411,275) and Net result for the year (-€47,367)
- Receivables within one year +€27,484
up €27,484 (+1,683%), from €1,633 to €29,117
of which Trade receivables: +€18,637
- Current portion of long-term debt +€420,000
new in 2024: €420,000
- Debts after one year -€411,275
down €411,275 (-73.9%), from €556,762 to €145,487
of which Financial debts: -€420,000
- Profit (loss) carried forward -€47,367
down €47,367 (-73.4%), from -€64,506 to -€111,873
- Short-term financial debts -€40,000
down €40,000 (-100%), from €40,000 to €0
- Trade debts -€26,657
down €26,657 (-62.8%), from €42,436 to €15,779
- Gross operating margin +€31,292
up €31,292 (+116%), from €27,015 to €58,307
- Depreciation +€15,850
up €15,850 (+20.2%), from €78,391 to €94,241
- Other operating charges -€2,607
down €2,607 (-42.4%), from €6,149 to €3,542
- Financial income -€1,579
down €1,579 (-100%), from €1,579 to €0
- Financial charges -€669
down €669 (-7.8%), from €8,560 to €7,891
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €935,712 | €826,068 | -€109,645 | -11.7% |
| Fixed assets | 21/28 | €886,171 | €794,732 | -€91,439 | -10.3% |
| Tangible fixed assets | 22/27 | €884,821 | €794,732 | -€90,089 | -10.2% |
| Land and buildings | 22 | €775,428 | €693,991 | -€81,437 | -10.5% |
| Plant, machinery and equipment | 23 | €56,433 | €49,885 | -€6,548 | -11.6% |
| Furniture and vehicles | 24 | €52,960 | €50,856 | -€2,104 | -4.0% |
| Financial fixed assets | 28 | €1,350 | €0 | -€1,350 | -100% |
| Current assets | 29/58 | €49,541 | €31,335 | -€18,206 | -36.7% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Trade receivables | 290 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €1,633 | €29,117 | +€27,484 | +1,683% |
| Trade receivables | 40 | - | €18,637 | +€18,637 | |
| Other amounts receivable | 41 | €1,633 | €10,480 | +€8,847 | +542% |
| Cash at bank and in hand | 54/58 | €47,908 | €1,063 | -€46,845 | -97.8% |
| Deferred charges and accrued income | 490/1 | - | €1,155 | +€1,155 | |
| Total equity and liabilities | 10/49 | €935,712 | €826,068 | -€109,645 | -11.7% |
| Equity | 10/15 | €280,805 | €233,438 | -€47,367 | -16.9% |
| Contributions | 10/11 | €229,302 | €229,302 | = | 0.0% |
| Reserves | 13 | €116,009 | €116,009 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €116,009 | €116,009 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€64,506 | -€111,873 | -€47,367 | -73.4% |
| Amounts payable | 17/49 | €654,908 | €592,630 | -€62,278 | -9.5% |
| Amounts payable after more than one year | 17 | €556,762 | €145,487 | -€411,275 | -73.9% |
| Financial debts | 170/4 | €420,000 | €0 | -€420,000 | -100% |
| Other amounts payable | 178/9 | €136,762 | €145,487 | +€8,725 | +6.4% |
| Amounts payable within one year | 42/48 | €92,120 | €439,930 | +€347,810 | +378% |
| Current portion of amounts payable after more than one year | 42 | - | €420,000 | +€420,000 | |
| Financial debts | 43 | €40,000 | €0 | -€40,000 | -100% |
| Credit institutions | 430/8 | €40,000 | €0 | -€40,000 | -100% |
| Trade debts | 44 | €42,436 | €15,779 | -€26,657 | -62.8% |
| Suppliers | 440/4 | €42,436 | €15,779 | -€26,657 | -62.8% |
| Taxes, remuneration and social security | 45 | €9,685 | €4,151 | -€5,533 | -57.1% |
| Taxes | 450/3 | €9,685 | €4,151 | -€5,533 | -57.1% |
| Accrued charges and deferred income | 492/3 | €6,026 | €7,213 | +€1,188 | +19.7% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78,391 | €94,241 | +€15,850 | +20.2% |
| Other operating charges | 640/8 | €6,149 | €3,542 | -€2,607 | -42.4% |
| Gross operating margin | 9900 | €27,015 | €58,307 | +€31,292 | +116% |
| Operating profit (loss) | 9901 | -€57,525 | -€39,476 | +€18,050 | +31.4% |
| Financial income | 75/76B | €1,579 | €0 | -€1,579 | -100% |
| Recurring financial income | 75 | €1,579 | €0 | -€1,579 | -100% |
| Financial charges | 65/66B | €8,560 | €7,891 | -€669 | -7.8% |
| Recurring financial charges | 65 | €8,560 | €7,891 | -€669 | -7.8% |
| Profit (loss) for the period before taxes | 9903 | -€64,506 | -€47,367 | +€17,139 | +26.6% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€64,506 | -€47,367 | +€17,139 | +26.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€64,506 | -€47,367 | +€17,139 | +26.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.