VLM GESTION: 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 GESTION
Largest movements
- Cash -€17,870
down €17,870 (-13.9%), from €128,282 to €110,412
mainly Contributions, distributions and other (-€150,321) and Receivables within one year (-€12,867)
- Receivables within one year +€12,867
up €12,867 (+18.6%), from €69,312 to €82,179
of which Trade receivables: +€12,752
- Deferred charges and accrued income -€2,352
down €2,352 (-60.1%), from €3,915 to €1,563
- Profit (loss) carried forward -€63,909
down €63,909 (-100%), from €63,909 to €0
- Other debts +€56,141
up €56,141 (+57.4%), from €97,730 to €153,871
- Trade debts +€4,678
up €4,678 (+206%), from €2,275 to €6,953
- Tax, wage and social debts -€3,369
down €3,369 (-9.8%), from €34,387 to €31,019
- Gross operating margin +€27,587
up €27,587 (+32.9%), from €83,942 to €111,528
- Taxes +€6,194
up €6,194 (+37.1%), from €16,702 to €22,896
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 | €201,981 | €194,342 | -€7,638 | -3.8% |
| Fixed assets | 21/28 | €472 | €189 | -€283 | -60.0% |
| Tangible fixed assets | 22/27 | €472 | €189 | -€283 | -60.0% |
| Furniture and vehicles | 24 | €472 | €189 | -€283 | -60.0% |
| Current assets | 29/58 | €201,508 | €194,153 | -€7,355 | -3.6% |
| Amounts receivable within one year | 40/41 | €69,312 | €82,179 | +€12,867 | +18.6% |
| Trade receivables | 40 | €69,312 | €82,064 | +€12,752 | +18.4% |
| Other amounts receivable | 41 | €0 | €115 | +€115 | |
| Cash at bank and in hand | 54/58 | €128,282 | €110,412 | -€17,870 | -13.9% |
| Deferred charges and accrued income | 490/1 | €3,915 | €1,563 | -€2,352 | -60.1% |
| Total equity and liabilities | 10/49 | €201,981 | €194,342 | -€7,638 | -3.8% |
| Equity | 10/15 | €66,409 | €2,500 | -€63,909 | -96.2% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €63,909 | €0 | -€63,909 | -100% |
| Amounts payable | 17/49 | €135,571 | €191,842 | +€56,271 | +41.5% |
| Amounts payable within one year | 42/48 | €134,392 | €191,842 | +€57,451 | +42.7% |
| Trade debts | 44 | €2,275 | €6,953 | +€4,678 | +206% |
| Suppliers | 440/4 | €2,275 | €6,953 | +€4,678 | +206% |
| Taxes, remuneration and social security | 45 | €34,387 | €31,019 | -€3,369 | -9.8% |
| Taxes | 450/3 | €34,387 | €31,019 | -€3,369 | -9.8% |
| Other amounts payable | 47/48 | €97,730 | €153,871 | +€56,141 | +57.4% |
| Accrued charges and deferred income | 492/3 | €1,179 | €0 | -€1,179 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €283 | €283 | = | 0.0% |
| Other operating charges | 640/8 | €824 | €511 | -€313 | -38.0% |
| Gross operating margin | 9900 | €83,942 | €111,528 | +€27,587 | +32.9% |
| Operating profit (loss) | 9901 | €82,834 | €110,734 | +€27,900 | +33.7% |
| Financial charges | 65/66B | €2,222 | €1,427 | -€796 | -35.8% |
| Recurring financial charges | 65 | €2,222 | €1,427 | -€796 | -35.8% |
| Profit (loss) for the period before taxes | 9903 | €80,611 | €109,307 | +€28,696 | +35.6% |
| Income taxes | 67/77 | €16,702 | €22,896 | +€6,194 | +37.1% |
| Profit (loss) for the period | 9904 | €63,909 | €86,412 | +€22,502 | +35.2% |
| Profit (loss) for the period to be appropriated | 9905 | €63,909 | €86,412 | +€22,502 | +35.2% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.