VLEVY: 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.
What changed
VLEVY
NACE 10.130, Manufacture of food products
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€467,144
2024 · €441,722+€25,422
Equity
€10.3m
2024 · €10.4m-€37,471
Cash
€1.1m
2024 · €448,489+€616,785
Balance sheet total
€20.3m
2024 · €19.2m+€1.0m
Largest movements
Assets
- Stocks and contracts +€754,580
up €754,580 (+18.9%), from €4.0m to €4.7m
- Cash +€616,785
up €616,785 (+137.5%), from €448,489 to €1.1m
mainly Depreciation (+€1.9m) and Trade debts (+€698,952)
- Receivables within one year -€327,219
down €327,219 (-7.3%), from €4.5m to €4.1m
of which Trade receivables: -€199,735
Equity and liabilities
- Trade debts +€698,952
up €698,952 (+16.4%), from €4.3m to €5.0m
- Other debts +€494,643
up €494,643 (+27.4%), from €1.8m to €2.3m
Income statement
- Turnover +€1.1m
up €1.1m (+3.1%), from €35.3m to €36.4m
- Services and other goods +€439,639
up €439,639 (+6.6%), from €6.7m to €7.1m
- Goods and materials +€422,457
up €422,457 (+1.9%), from €21.9m to €22.3m
of which Purchases: +€1.9m
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.
Result 2024
€441,722
Turnover
+€1.1m
Other operating income
-€69,884
Goods and materials
-€422,457
Services and other goods
-€439,639
Staff costs
+€7,900
Depreciation
-€3,989
Write-downs
-€17,714
Other operating charges
-€17,815
Other operating items
-€6,392
Financial income
-€169,818
Financial charges
+€39,073
Taxes
+€14,925
Result 2025
€467,144
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.
From operations
+€3.1m
Investment
-€1.9m
Financing
-€570,001
Cash 2024
€448,489
From operations (derived)
+€3.1m
Net result for the year
+€467,144
Depreciation
+€1.9m
Receivables after one year
+€26,622
Stocks and contracts
-€754,580
Receivables within one year
+€327,219
Deferred charges and accrued income
+€45,797
Provisions
-€5,695
Trade debts
+€698,952
Tax, wage and social debts
-€73,425
Other debts
+€494,643
Accrued charges and deferred income
+€4,277
Investment (derived)
-€1.9m
Investment in fixed assets (net)
-€1.9m
Financing
-€570,001
Debts after one year
-€153,634
Current portion of long-term debt
+€88,248
Contributions, distributions and other
-€504,615
Cash 2025
€1.1m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €19,237,726 | €20,253,620 | +€1.0m | +5.3% |
| Fixed assets | 21/28 | €10,217,281 | €10,261,447 | +€44,167 | +0.4% |
| Intangible fixed assets | 21 | - | €7,630 | +€7,630 | |
| Tangible fixed assets | 22/27 | €10,216,791 | €10,253,129 | +€36,337 | +0.4% |
| Land and buildings | 22 | €2,707,835 | €2,671,760 | -€36,075 | -1.3% |
| Plant, machinery and equipment | 23 | €1,695,965 | €2,505,262 | +€809,298 | +47.7% |
| Furniture and vehicles | 24 | €136,920 | €92,469 | -€44,451 | -32.5% |
| Leasing and similar rights | 25 | €2,264,497 | €1,901,178 | -€363,319 | -16.0% |
| Other tangible fixed assets | 26 | €3,169,192 | €2,699,480 | -€469,712 | -14.8% |
| Assets under construction and advance payments | 27 | €242,383 | €382,979 | +€140,596 | +58.0% |
| Financial fixed assets | 28 | €489 | €689 | +€200 | +40.9% |
| Other financial fixed assets | 284/8 | €489 | €689 | +€200 | +40.9% |
| Amounts receivable and cash guarantees | 285/8 | €489 | €689 | +€200 | +40.9% |
| Current assets | 29/58 | €9,020,446 | €9,992,173 | +€971,727 | +10.8% |
| Amounts receivable after more than one year | 29 | €58,891 | €32,269 | -€26,622 | -45.2% |
| Other amounts receivable | 291 | €58,891 | €32,269 | -€26,622 | -45.2% |
| Stocks and contracts in progress | 3 | €3,982,601 | €4,737,181 | +€754,580 | +18.9% |
| Stocks | 30/36 | €3,982,601 | €4,737,181 | +€754,580 | +18.9% |
| Raw materials and consumables | 30/31 | €1,419,749 | €1,220,732 | -€199,017 | -14.0% |
| Goods purchased for resale | 34 | €2,562,852 | €3,516,449 | +€953,597 | +37.2% |
| Amounts receivable within one year | 40/41 | €4,474,768 | €4,147,549 | -€327,219 | -7.3% |
| Trade receivables | 40 | €4,089,863 | €3,890,127 | -€199,735 | -4.9% |
| Other amounts receivable | 41 | €384,906 | €257,422 | -€127,484 | -33.1% |
| Cash at bank and in hand | 54/58 | €448,489 | €1,065,274 | +€616,785 | +137.5% |
| Deferred charges and accrued income | 490/1 | €55,696 | €9,899 | -€45,797 | -82.2% |
| Total equity and liabilities | 10/49 | €19,237,726 | €20,253,620 | +€1.0m | +5.3% |
| Equity | 10/15 | €10,378,993 | €10,341,522 | -€37,471 | -0.4% |
| Contributions | 10/11 | €1,443,700 | €1,443,700 | = | 0.0% |
| Capital | 10 | €1,443,700 | €1,443,700 | = | 0.0% |
| Issued capital | 100 | €1,443,700 | €1,443,700 | = | 0.0% |
| Reserves | 13 | €8,834,118 | €8,820,459 | -€13,659 | -0.2% |
| Non-distributable reserves | 130/1 | €144,370 | €144,370 | = | 0.0% |
| Legal reserve | 130 | €144,370 | €144,370 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,666,839 | €3,653,180 | -€13,659 | -0.4% |
| Distributable reserves | 133 | €5,022,909 | €5,022,909 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,124 | €6,927 | +€5,803 | +516.1% |
| Investment grants | 15 | €100,051 | €70,436 | -€29,615 | -29.6% |
| Provisions and deferred taxes | 16 | €54,667 | €48,972 | -€5,695 | -10.4% |
| Deferred taxes | 168 | €54,667 | €48,972 | -€5,695 | -10.4% |
| Amounts payable | 17/49 | €8,804,066 | €9,863,126 | +€1.1m | +12.0% |
| Amounts payable after more than one year | 17 | €1,092,047 | €938,413 | -€153,634 | -14.1% |
| Financial debts | 170/4 | €1,092,047 | €938,413 | -€153,634 | -14.1% |
| Leasing and similar obligations | 172 | €888,197 | €825,163 | -€63,034 | -7.1% |
| Credit institutions | 173 | €203,850 | €113,250 | -€90,600 | -44.4% |
| Amounts payable within one year | 42/48 | €7,580,790 | €8,789,208 | +€1.2m | +15.9% |
| Current portion of amounts payable after more than one year | 42 | €784,958 | €873,206 | +€88,248 | +11.2% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €4,268,281 | €4,967,233 | +€698,952 | +16.4% |
| Suppliers | 440/4 | €4,268,281 | €4,967,233 | +€698,952 | +16.4% |
| Taxes, remuneration and social security | 45 | €722,264 | €648,839 | -€73,425 | -10.2% |
| Taxes | 450/3 | €139,710 | €53,509 | -€86,201 | -61.7% |
| Remuneration and social security | 454/9 | €582,554 | €595,330 | +€12,776 | +2.2% |
| Other amounts payable | 47/48 | €1,805,287 | €2,299,930 | +€494,643 | +27.4% |
| Accrued charges and deferred income | 492/3 | €131,228 | €135,505 | +€4,277 | +3.3% |
| Operating income | 70/76A | €35,578,982 | €36,622,225 | +€1.0m | +2.9% |
| Turnover | 70 | €35,284,750 | €36,395,983 | +€1.1m | +3.1% |
| Other operating income | 74 | €288,044 | €218,160 | -€69,884 | -24.3% |
| Non-recurring operating income | 76A | €6,188 | €8,082 | +€1,895 | +30.6% |
| Operating charges | 60/66A | €35,109,579 | €36,011,581 | +€902,001 | +2.6% |
| Goods for resale, raw materials and consumables | 60 | €21,920,146 | €22,342,603 | +€422,457 | +1.9% |
| Purchases | 600/8 | €21,235,496 | €23,097,183 | +€1.9m | +8.8% |
| Change in stocks: decrease (increase) | 609 | €684,650 | -€754,580 | -€1.4m | |
| Services and other goods | 61 | €6,699,416 | €7,139,056 | +€439,639 | +6.6% |
| Remuneration, social security and pensions | 62 | €4,492,595 | €4,484,695 | -€7,900 | -0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,856,290 | €1,860,279 | +€3,989 | +0.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€17,714 | €0 | +€17,714 | |
| Other operating charges | 640/8 | €158,845 | €176,661 | +€17,815 | +11.2% |
| Non-recurring operating charges | 66A | - | €8,287 | +€8,287 | |
| Operating profit (loss) | 9901 | €469,403 | €610,644 | +€141,242 | +30.1% |
| Financial income | 75/76B | €406,004 | €236,186 | -€169,818 | -41.8% |
| Recurring financial income | 75 | €406,004 | €236,186 | -€169,818 | -41.8% |
| Income from current assets | 751 | €1,400 | €903 | -€498 | -35.5% |
| Other financial income | 752/9 | €404,604 | €235,284 | -€169,320 | -41.8% |
| Financial charges | 65/66B | €246,483 | €207,411 | -€39,073 | -15.9% |
| Recurring financial charges | 65 | €246,483 | €207,411 | -€39,073 | -15.9% |
| Debt charges | 650 | €144,426 | €132,517 | -€11,909 | -8.2% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | €0 | - | = | |
| Other financial charges | 652/9 | €102,057 | €74,894 | -€27,163 | -26.6% |
| Profit (loss) for the period before taxes | 9903 | €628,923 | €639,420 | +€10,497 | +1.7% |
| Transfer from deferred taxes | 780 | €5,695 | €5,695 | = | 0.0% |
| Income taxes | 67/77 | €192,896 | €177,971 | -€14,925 | -7.7% |
| Taxes | 670/3 | €192,896 | €177,971 | -€14,925 | -7.7% |
| Profit (loss) for the period | 9904 | €441,722 | €467,144 | +€25,422 | +5.8% |
| Transfer from tax-exempt reserves | 789 | €13,659 | €13,659 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €455,381 | €480,803 | +€25,422 | +5.6% |
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 6 October 2026 via checked.be.