VLHP: 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.
VLHP
Largest movements
- Intangible fixed assets -€16,400
down €16,400 (-46.2%), from €35,533 to €19,133
- Tangible fixed assets -€2,186
down €2,186 (-37.0%), from €5,912 to €3,726
of which Plant, machinery and equipment: -€1,774
- Profit (loss) carried forward -€11,698
down €11,698 (-15.4%), from -€76,197 to -€87,895
- Tax, wage and social debts -€7,224
down €7,224 (-100.0%), from €7,228 to €4
- Gross operating margin -€7,276
down €7,276 (-49.5%), from €14,704 to €7,428
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €75,030 | €56,288 | -€18,742 | -25.0% |
| Fixed assets | 21/28 | €44,745 | €26,159 | -€18,586 | -41.5% |
| Intangible fixed assets | 21 | €35,533 | €19,133 | -€16,400 | -46.2% |
| Tangible fixed assets | 22/27 | €5,912 | €3,726 | -€2,186 | -37.0% |
| Plant, machinery and equipment | 23 | €4,771 | €2,996 | -€1,774 | -37.2% |
| Furniture and vehicles | 24 | €1,141 | €730 | -€412 | -36.1% |
| Financial fixed assets | 28 | €3,300 | €3,300 | = | 0.0% |
| Current assets | 29/58 | €30,285 | €30,129 | -€156 | -0.5% |
| Amounts receivable within one year | 40/41 | €27,970 | €27,586 | -€384 | -1.4% |
| Trade receivables | 40 | €27,970 | €27,497 | -€472 | -1.7% |
| Other amounts receivable | 41 | - | €89 | +€89 | |
| Cash at bank and in hand | 54/58 | €2,315 | €2,543 | +€227 | +9.8% |
| Total equity and liabilities | 10/49 | €75,030 | €56,288 | -€18,742 | -25.0% |
| Equity | 10/15 | -€26,197 | -€37,895 | -€11,698 | -44.7% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€76,197 | -€87,895 | -€11,698 | -15.4% |
| Amounts payable | 17/49 | €101,228 | €94,183 | -€7,044 | -7.0% |
| Amounts payable within one year | 42/48 | €101,228 | €94,183 | -€7,044 | -7.0% |
| Trade debts | 44 | - | €180 | +€180 | |
| Suppliers | 440/4 | - | €180 | +€180 | |
| Taxes, remuneration and social security | 45 | €7,228 | €4 | -€7,224 | -100.0% |
| Taxes | 450/3 | €7,228 | €4 | -€7,224 | -100.0% |
| Other amounts payable | 47/48 | €94,000 | €94,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,586 | €18,586 | = | 0.0% |
| Other operating charges | 640/8 | €387 | €450 | +€62 | +16.1% |
| Gross operating margin | 9900 | €14,704 | €7,428 | -€7,276 | -49.5% |
| Operating profit (loss) | 9901 | -€4,270 | -€11,608 | -€7,339 | -171.9% |
| Financial charges | 65/66B | €108 | €90 | -€18 | -16.7% |
| Recurring financial charges | 65 | €108 | €90 | -€18 | -16.7% |
| Profit (loss) for the period before taxes | 9903 | -€4,378 | -€11,698 | -€7,321 | -167.2% |
| Profit (loss) for the period | 9904 | -€4,378 | -€11,698 | -€7,321 | -167.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,378 | -€11,698 | -€7,321 | -167.2% |
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 4 October 2026 via checked.be.