VLOVAN: 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.
VLOVAN
Largest movements
- Tangible fixed assets +€61,501
up €61,501 (+38.8%), from €158,345 to €219,846
of which Land and buildings: +€61,684
- Cash -€13,627
down €13,627 (-25.1%), from €54,239 to €40,612
mainly Investment in fixed assets (net) (-€69,904) and Contributions, distributions and other (-€31,500)
- Profit (loss) carried forward +€37,755
no longer reported in 2025 (was -€37,755)
- Other debts +€36,422
up €36,422 (+679%), from €5,368 to €41,789
- Reserves -€26,192
down €26,192 (-10.9%), from €240,500 to €214,308
- Tax, wage and social debts -€5,872
down €5,872 (-50.6%), from €11,599 to €5,727
of which Taxes: -€4,622
- Accrued charges and deferred income +€5,328
new in 2025: €5,328
- Other operating charges -€12,036
down €12,036 (-69.1%), from €17,429 to €5,393
- Gross operating margin +€7,568
up €7,568 (+14.3%), from €52,903 to €60,471
- Financial charges -€6,141
down €6,141 (-70.1%), from €8,760 to €2,619
- Taxes +€993
new in 2025: €993
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 | €228,089 | €275,574 | +€47,485 | +20.8% |
| Fixed assets | 21/28 | €158,345 | €219,846 | +€61,501 | +38.8% |
| Tangible fixed assets | 22/27 | €158,345 | €219,846 | +€61,501 | +38.8% |
| Land and buildings | 22 | €157,772 | €219,456 | +€61,684 | +39.1% |
| Furniture and vehicles | 24 | €572 | €390 | -€183 | -31.9% |
| Current assets | 29/58 | €69,744 | €55,728 | -€14,016 | -20.1% |
| Amounts receivable within one year | 40/41 | €14,244 | €14,036 | -€208 | -1.5% |
| Trade receivables | 40 | €13,059 | €14,036 | +€977 | +7.5% |
| Other amounts receivable | 41 | €1,184 | - | -€1,184 | |
| Cash at bank and in hand | 54/58 | €54,239 | €40,612 | -€13,627 | -25.1% |
| Deferred charges and accrued income | 490/1 | €1,262 | €1,080 | -€182 | -14.4% |
| Total equity and liabilities | 10/49 | €228,089 | €275,574 | +€47,485 | +20.8% |
| Equity | 10/15 | €210,425 | €221,988 | +€11,563 | +5.5% |
| Contributions | 10/11 | €7,679 | €7,679 | = | 0.0% |
| Reserves | 13 | €240,500 | €214,308 | -€26,192 | -10.9% |
| Distributable reserves | 133 | €240,500 | €214,308 | -€26,192 | -10.9% |
| Profit (loss) carried forward | 14 | -€37,755 | - | +€37,755 | |
| Amounts payable | 17/49 | €17,665 | €53,586 | +€35,922 | +203% |
| Amounts payable within one year | 42/48 | €17,665 | €48,258 | +€30,594 | +173% |
| Trade debts | 44 | €698 | €742 | +€44 | +6.4% |
| Suppliers | 440/4 | €698 | €742 | +€44 | +6.4% |
| Taxes, remuneration and social security | 45 | €11,599 | €5,727 | -€5,872 | -50.6% |
| Taxes | 450/3 | €8,849 | €4,227 | -€4,622 | -52.2% |
| Remuneration and social security | 454/9 | €2,750 | €1,500 | -€1,250 | -45.5% |
| Other amounts payable | 47/48 | €5,368 | €41,789 | +€36,422 | +679% |
| Accrued charges and deferred income | 492/3 | - | €5,328 | +€5,328 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,278 | €8,403 | +€126 | +1.5% |
| Other operating charges | 640/8 | €17,429 | €5,393 | -€12,036 | -69.1% |
| Gross operating margin | 9900 | €52,903 | €60,471 | +€7,568 | +14.3% |
| Operating profit (loss) | 9901 | €27,196 | €46,675 | +€19,478 | +71.6% |
| Financial charges | 65/66B | €8,760 | €2,619 | -€6,141 | -70.1% |
| Recurring financial charges | 65 | €8,760 | €2,619 | -€6,141 | -70.1% |
| Profit (loss) for the period before taxes | 9903 | €18,436 | €44,056 | +€25,620 | +139% |
| Income taxes | 67/77 | - | €993 | +€993 | |
| Profit (loss) for the period | 9904 | €18,436 | €43,063 | +€24,627 | +134% |
| Profit (loss) for the period to be appropriated | 9905 | €18,436 | €43,063 | +€24,627 | +134% |
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 19 October 2026 via checked.be.