VLH VERZEKERINGEN: 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.
VLH VERZEKERINGEN
Largest movements
- Current investments +€250,000
up €250,000 (+100%), from €250,000 to €500,000
- Intangible fixed assets -€170,000
down €170,000 (-12.5%), from €1.4m to €1.2m
- Cash -€124,327
down €124,327 (-91.4%), from €136,043 to €11,715
mainly Current investments (-€250,000) and Debts after one year (-€221,886)
- Receivables within one year +€42,057
up €42,057 (+167%), from €25,156 to €67,213
of which Other amounts receivable: +€37,688
- Reserves +€296,610
up €296,610 (+84.6%), from €350,639 to €647,249
- Debts after one year -€221,886
down €221,886 (-21.7%), from €1.0m to €798,557
- Other debts -€45,083
down €45,083 (-88.6%), from €50,890 to €5,807
- Current portion of long-term debt -€32,243
down €32,243 (-11.8%), from €274,099 to €241,856
- Gross operating margin +€61,656
up €61,656 (+10.1%), from €613,119 to €674,775
- Financial charges -€39,590
down €39,590 (-80.6%), from €49,097 to €9,507
- Taxes +€25,287
up €25,287 (+32.4%), from €78,053 to €103,339
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 | €1,774,439 | €1,774,491 | +€52 | 0.0% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €1,363,133 | €1,194,079 | -€169,054 | -12.4% |
| Intangible fixed assets | 21 | €1,360,000 | €1,190,000 | -€170,000 | -12.5% |
| Tangible fixed assets | 22/27 | €3,133 | €4,079 | +€946 | +30.2% |
| Furniture and vehicles | 24 | €3,133 | €4,079 | +€946 | +30.2% |
| Current assets | 29/58 | €411,306 | €580,411 | +€169,106 | +41.1% |
| Amounts receivable within one year | 40/41 | €25,156 | €67,213 | +€42,057 | +167% |
| Trade receivables | 40 | €25,156 | €29,525 | +€4,369 | +17.4% |
| Other amounts receivable | 41 | €0 | €37,688 | +€37,688 | |
| Current investments | 50/53 | €250,000 | €500,000 | +€250,000 | +100% |
| Cash at bank and in hand | 54/58 | €136,043 | €11,715 | -€124,327 | -91.4% |
| Deferred charges and accrued income | 490/1 | €107 | €1,483 | +€1,376 | +1,283% |
| Total equity and liabilities | 10/49 | €1,774,439 | €1,774,491 | +€52 | 0.0% |
| Equity | 10/15 | €380,639 | €677,249 | +€296,610 | +77.9% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €350,639 | €647,249 | +€296,610 | +84.6% |
| Distributable reserves | 133 | €350,639 | €647,249 | +€296,610 | +84.6% |
| Amounts payable | 17/49 | €1,393,799 | €1,097,242 | -€296,558 | -21.3% |
| Amounts payable after more than one year | 17 | €1,020,442 | €798,557 | -€221,886 | -21.7% |
| Financial debts | 170/4 | €1,020,442 | €798,557 | -€221,886 | -21.7% |
| Amounts payable within one year | 42/48 | €373,357 | €298,685 | -€74,672 | -20.0% |
| Current portion of amounts payable after more than one year | 42 | €274,099 | €241,856 | -€32,243 | -11.8% |
| Trade debts | 44 | €1,458 | €246 | -€1,212 | -83.1% |
| Suppliers | 440/4 | €1,458 | €246 | -€1,212 | -83.1% |
| Taxes, remuneration and social security | 45 | €46,910 | €50,775 | +€3,865 | +8.2% |
| Taxes | 450/3 | €30,087 | €33,818 | +€3,731 | +12.4% |
| Remuneration and social security | 454/9 | €16,823 | €16,957 | +€134 | +0.8% |
| Other amounts payable | 47/48 | €50,890 | €5,807 | -€45,083 | -88.6% |
| Remuneration, social security and pensions | 62 | €87,830 | €93,767 | +€5,937 | +6.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €170,466 | €171,037 | +€571 | +0.3% |
| Other operating charges | 640/8 | €2,387 | €2,695 | +€308 | +12.9% |
| Gross operating margin | 9900 | €613,119 | €674,775 | +€61,656 | +10.1% |
| Operating profit (loss) | 9901 | €352,437 | €407,276 | +€54,840 | +15.6% |
| Financial income | 75/76B | €0 | €2,180 | +€2,180 | +2,725,275% |
| Recurring financial income | 75 | €0 | €2,180 | +€2,180 | +2,725,275% |
| Financial charges | 65/66B | €49,097 | €9,507 | -€39,590 | -80.6% |
| Recurring financial charges | 65 | €49,097 | €9,507 | -€39,590 | -80.6% |
| Profit (loss) for the period before taxes | 9903 | €303,340 | €399,949 | +€96,609 | +31.8% |
| Income taxes | 67/77 | €78,053 | €103,339 | +€25,287 | +32.4% |
| Profit (loss) for the period | 9904 | €225,287 | €296,610 | +€71,323 | +31.7% |
| Profit (loss) for the period to be appropriated | 9905 | €225,287 | €296,610 | +€71,323 | +31.7% |
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 22 October 2026 via checked.be.