VLL: 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.
VLL
Largest movements
- Tangible fixed assets -€27,870
down €27,870 (-2.9%), from €957,940 to €930,070
- Debts after one year -€37,272
down €37,272 (-3.9%), from €955,251 to €917,979
- Profit (loss) carried forward +€18,283
up €18,283 (+14.2%), from -€128,995 to -€110,712
- Other operating charges -€60,306
down €60,306 (-91.5%), from €65,930 to €5,624
- Financial charges -€12,083
down €12,083 (-38.4%), from €31,503 to €19,421
- Gross operating margin +€9,858
up €9,858 (+16.1%), from €61,340 to €71,198
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 | €970,114 | €949,887 | -€20,227 | -2.1% |
| Fixed assets | 21/28 | €957,940 | €930,070 | -€27,870 | -2.9% |
| Tangible fixed assets | 22/27 | €957,940 | €930,070 | -€27,870 | -2.9% |
| Land and buildings | 22 | €957,940 | €930,070 | -€27,870 | -2.9% |
| Current assets | 29/58 | €12,174 | €19,816 | +€7,643 | +62.8% |
| Amounts receivable within one year | 40/41 | €10,867 | €10,867 | = | 0.0% |
| Other amounts receivable | 41 | €10,867 | €10,867 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €46 | €7,681 | +€7,635 | +16780.4% |
| Deferred charges and accrued income | 490/1 | €1,261 | €1,269 | +€8 | +0.6% |
| Total equity and liabilities | 10/49 | €970,114 | €949,887 | -€20,227 | -2.1% |
| Equity | 10/15 | -€68,995 | -€50,712 | +€18,283 | +26.5% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€128,995 | -€110,712 | +€18,283 | +14.2% |
| Amounts payable | 17/49 | €1,039,109 | €1,000,598 | -€38,511 | -3.7% |
| Amounts payable after more than one year | 17 | €955,251 | €917,979 | -€37,272 | -3.9% |
| Financial debts | 170/4 | €955,251 | €917,979 | -€37,272 | -3.9% |
| Amounts payable within one year | 42/48 | €76,981 | €77,319 | +€338 | +0.4% |
| Current portion of amounts payable after more than one year | 42 | €36,526 | €37,272 | +€747 | +2.0% |
| Trade debts | 44 | €2,955 | €2,547 | -€409 | -13.8% |
| Suppliers | 440/4 | €2,955 | €2,547 | -€409 | -13.8% |
| Other amounts payable | 47/48 | €37,500 | €37,500 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €6,877 | €5,300 | -€1,577 | -22.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,668 | €27,870 | +€202 | +0.7% |
| Other operating charges | 640/8 | €65,930 | €5,624 | -€60,306 | -91.5% |
| Gross operating margin | 9900 | €61,340 | €71,198 | +€9,858 | +16.1% |
| Operating profit (loss) | 9901 | -€32,258 | €37,704 | +€69,962 | |
| Financial income | 75/76B | €31 | €0 | -€31 | -99.6% |
| Recurring financial income | 75 | €31 | €0 | -€31 | -99.6% |
| Financial charges | 65/66B | €31,503 | €19,421 | -€12,083 | -38.4% |
| Recurring financial charges | 65 | €31,503 | €19,421 | -€12,083 | -38.4% |
| Profit (loss) for the period before taxes | 9903 | -€63,731 | €18,283 | +€82,015 | |
| Profit (loss) for the period | 9904 | -€63,731 | €18,283 | +€82,015 | |
| Profit (loss) for the period to be appropriated | 9905 | -€63,731 | €18,283 | +€82,015 |
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 29 September 2026 via checked.be.