Vlinth: what changed
Vlinth
Largest movements
- Tangible fixed assets +€74,901
up €74,901 (+44.5%), from €168,257 to €243,158
of which Leasing and similar rights: +€96,270
- Cash -€48,220
down €48,220 (-79.0%), from €61,049 to €12,829
mainly Investment in fixed assets (net) (-€140,037) and Other debts (-€25,095)
- Stocks and contracts +€24,153
up €24,153 (+407%), from €5,934 to €30,087
- Receivables within one year +€21,659
up €21,659 (+54.1%), from €40,068 to €61,727
of which Trade receivables: +€11,749
- Current portion of long-term debt +€42,838
up €42,838 (+113%), from €38,046 to €80,884
- Trade debts +€37,436
up €37,436 (+75.8%), from €49,407 to €86,843
- Debts after one year +€33,668
up €33,668 (+32.1%), from €104,783 to €138,451
- Other debts -€25,095
down €25,095 (-65.9%), from €38,099 to €13,003
- Profit (loss) carried forward -€17,444
down €17,444 (-42.9%), from €40,701 to €23,258
- Staff costs +€38,533
up €38,533 (+761%), from €5,065 to €43,597
- Depreciation +€12,479
up €12,479 (+22.9%), from €54,490 to €66,969
- Taxes -€6,928
down €6,928 (-100%), from €6,928 to €0
- Gross operating margin +€4,463
up €4,463 (+4.5%), from €100,259 to €104,723
- Financial charges +€1,134
up €1,134 (+12.2%), from €9,268 to €10,402
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €287,633 | €357,334 | +€69,701 | +24.2% |
| Fixed assets | 21/28 | €178,929 | €251,997 | +€73,068 | +40.8% |
| Intangible fixed assets | 21 | €6,847 | €5,014 | -€1,834 | -26.8% |
| Tangible fixed assets | 22/27 | €168,257 | €243,158 | +€74,901 | +44.5% |
| Plant, machinery and equipment | 23 | €74,714 | €54,023 | -€20,692 | -27.7% |
| Furniture and vehicles | 24 | €1,166 | €489 | -€676 | -58.0% |
| Leasing and similar rights | 25 | €92,377 | €188,646 | +€96,270 | +104% |
| Financial fixed assets | 28 | €3,825 | €3,825 | = | 0.0% |
| Current assets | 29/58 | €108,704 | €105,337 | -€3,367 | -3.1% |
| Stocks and contracts in progress | 3 | €5,934 | €30,087 | +€24,153 | +407% |
| Stocks | 30/36 | €5,934 | €30,087 | +€24,153 | +407% |
| Amounts receivable within one year | 40/41 | €40,068 | €61,727 | +€21,659 | +54.1% |
| Trade receivables | 40 | €39,808 | €51,557 | +€11,749 | +29.5% |
| Other amounts receivable | 41 | €260 | €10,170 | +€9,911 | +3,818% |
| Cash at bank and in hand | 54/58 | €61,049 | €12,829 | -€48,220 | -79.0% |
| Deferred charges and accrued income | 490/1 | €1,654 | €693 | -€960 | -58.1% |
| Total equity and liabilities | 10/49 | €287,633 | €357,334 | +€69,701 | +24.2% |
| Equity | 10/15 | €42,701 | €25,258 | -€17,444 | -40.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €40,701 | €23,258 | -€17,444 | -42.9% |
| Amounts payable | 17/49 | €244,932 | €332,076 | +€87,144 | +35.6% |
| Amounts payable after more than one year | 17 | €104,783 | €138,451 | +€33,668 | +32.1% |
| Financial debts | 170/4 | €104,783 | €138,451 | +€33,668 | +32.1% |
| Amounts payable within one year | 42/48 | €140,148 | €193,625 | +€53,476 | +38.2% |
| Current portion of amounts payable after more than one year | 42 | €38,046 | €80,884 | +€42,838 | +113% |
| Financial debts | 43 | - | €4 | +€4 | |
| Credit institutions | 430/8 | - | €4 | +€4 | |
| Trade debts | 44 | €49,407 | €86,843 | +€37,436 | +75.8% |
| Suppliers | 440/4 | €49,407 | €86,843 | +€37,436 | +75.8% |
| Taxes, remuneration and social security | 45 | €14,596 | €12,890 | -€1,706 | -11.7% |
| Taxes | 450/3 | €14,596 | €9,234 | -€5,363 | -36.7% |
| Remuneration and social security | 454/9 | €0 | €3,656 | +€3,656 | |
| Other amounts payable | 47/48 | €38,099 | €13,003 | -€25,095 | -65.9% |
| Remuneration, social security and pensions | 62 | €5,065 | €43,597 | +€38,533 | +761% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,490 | €66,969 | +€12,479 | +22.9% |
| Other operating charges | 640/8 | €1,442 | €1,555 | +€114 | +7.9% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €100,259 | €104,723 | +€4,463 | +4.5% |
| Operating profit (loss) | 9901 | €39,263 | -€7,399 | -€46,663 | |
| Financial income | 75/76B | €128 | €358 | +€230 | +180% |
| Recurring financial income | 75 | €128 | €358 | +€230 | +180% |
| Financial charges | 65/66B | €9,268 | €10,402 | +€1,134 | +12.2% |
| Recurring financial charges | 65 | €9,268 | €10,402 | +€1,134 | +12.2% |
| Profit (loss) for the period before taxes | 9903 | €30,123 | -€17,444 | -€47,566 | |
| Income taxes | 67/77 | €6,928 | €0 | -€6,928 | -100% |
| Profit (loss) for the period | 9904 | €23,195 | -€17,444 | -€40,638 | |
| Profit (loss) for the period to be appropriated | 9905 | €23,195 | -€17,444 | -€40,638 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.