VLM-CO: 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.
VLM-CO
Largest movements
- Tangible fixed assets -€21,600
down €21,600 (-2.6%), from €832,192 to €810,592
- Debts after one year -€44,505
down €44,505 (-6.4%), from €695,823 to €651,317
- Profit (loss) carried forward +€12,511
up €12,511 (+27.2%), from -€45,995 to -€33,484
- Other operating charges +€4,214
up €4,214 (+66.0%), from €6,383 to €10,598
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 | €861,716 | €829,492 | -€32,225 | -3.7% |
| Fixed assets | 21/28 | €832,192 | €810,592 | -€21,600 | -2.6% |
| Tangible fixed assets | 22/27 | €832,192 | €810,592 | -€21,600 | -2.6% |
| Land and buildings | 22 | €832,192 | €810,592 | -€21,600 | -2.6% |
| Current assets | 29/58 | €29,524 | €18,900 | -€10,625 | -36.0% |
| Amounts receivable within one year | 40/41 | €15,254 | €8,715 | -€6,539 | -42.9% |
| Other amounts receivable | 41 | €15,254 | €8,715 | -€6,539 | -42.9% |
| Cash at bank and in hand | 54/58 | €10,537 | €6,468 | -€4,069 | -38.6% |
| Deferred charges and accrued income | 490/1 | €3,734 | €3,717 | -€16 | -0.4% |
| Total equity and liabilities | 10/49 | €861,716 | €829,492 | -€32,225 | -3.7% |
| Equity | 10/15 | €104,005 | €116,516 | +€12,511 | +12.0% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€45,995 | -€33,484 | +€12,511 | +27.2% |
| Amounts payable | 17/49 | €757,712 | €712,976 | -€44,736 | -5.9% |
| Amounts payable after more than one year | 17 | €695,823 | €651,317 | -€44,505 | -6.4% |
| Financial debts | 170/4 | €695,823 | €651,317 | -€44,505 | -6.4% |
| Amounts payable within one year | 42/48 | €56,464 | €61,034 | +€4,570 | +8.1% |
| Current portion of amounts payable after more than one year | 42 | €47,723 | €48,378 | +€655 | +1.4% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €8,363 | €12,338 | +€3,975 | +47.5% |
| Suppliers | 440/4 | €8,363 | €12,338 | +€3,975 | +47.5% |
| Taxes, remuneration and social security | 45 | €378 | €318 | -€60 | -15.9% |
| Taxes | 450/3 | €378 | €318 | -€60 | -15.9% |
| Accrued charges and deferred income | 492/3 | €5,425 | €625 | -€4,800 | -88.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,600 | €21,600 | = | 0.0% |
| Other operating charges | 640/8 | €6,383 | €10,598 | +€4,214 | +66.0% |
| Gross operating margin | 9900 | €55,429 | €55,230 | -€199 | -0.4% |
| Operating profit (loss) | 9901 | €27,446 | €23,032 | -€4,414 | -16.1% |
| Financial income | 75/76B | €707 | €407 | -€300 | -42.4% |
| Recurring financial income | 75 | €707 | €407 | -€300 | -42.4% |
| Financial charges | 65/66B | €11,436 | €10,928 | -€508 | -4.4% |
| Recurring financial charges | 65 | €11,436 | €10,928 | -€508 | -4.4% |
| Profit (loss) for the period before taxes | 9903 | €16,717 | €12,511 | -€4,206 | -25.2% |
| Profit (loss) for the period | 9904 | €16,717 | €12,511 | -€4,206 | -25.2% |
| Profit (loss) for the period to be appropriated | 9905 | €16,717 | €12,511 | -€4,206 | -25.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.