VLS TRADING: 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.
VLS TRADING
Largest movements
- Tangible fixed assets -€43,019
down €43,019 (-7.1%), from €602,590 to €559,571
of which Furniture and vehicles: -€24,962
- Cash +€17,766
up €17,766 (+179%), from €9,947 to €27,713
mainly Net result for the year (+€61,611) and Depreciation (+€44,627)
- Current portion of long-term debt -€61,755
down €61,755 (-42.4%), from €145,765 to €84,009
- Other debts +€36,909
new in 2025: €36,909
- Reserves +€24,993
up €24,993 (+6.6%), from €380,058 to €405,051
- Debts after one year -€19,655
down €19,655 (-32.9%), from €59,794 to €40,139
- Gross operating margin +€13,268
up €13,268 (+10.4%), from €127,435 to €140,703
- Depreciation +€5,939
up €5,939 (+15.4%), from €38,688 to €44,627
- Taxes +€2,140
up €2,140 (+9.2%), from €23,257 to €25,397
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 | €658,763 | €629,701 | -€29,062 | -4.4% |
| Fixed assets | 21/28 | €602,590 | €559,571 | -€43,019 | -7.1% |
| Tangible fixed assets | 22/27 | €602,590 | €559,571 | -€43,019 | -7.1% |
| Land and buildings | 22 | €491,241 | €472,306 | -€18,935 | -3.9% |
| Plant, machinery and equipment | 23 | €144 | €1,349 | +€1,205 | +838% |
| Furniture and vehicles | 24 | €110,263 | €85,301 | -€24,962 | -22.6% |
| Other tangible fixed assets | 26 | €942 | €615 | -€327 | -34.8% |
| Current assets | 29/58 | €56,172 | €70,130 | +€13,957 | +24.8% |
| Amounts receivable within one year | 40/41 | €42,848 | €42,109 | -€739 | -1.7% |
| Trade receivables | 40 | €31,558 | €23,814 | -€7,744 | -24.5% |
| Other amounts receivable | 41 | €11,290 | €18,295 | +€7,005 | +62.0% |
| Cash at bank and in hand | 54/58 | €9,947 | €27,713 | +€17,766 | +179% |
| Deferred charges and accrued income | 490/1 | €3,378 | €308 | -€3,070 | -90.9% |
| Total equity and liabilities | 10/49 | €658,763 | €629,701 | -€29,062 | -4.4% |
| Equity | 10/15 | €414,626 | €439,618 | +€24,993 | +6.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €15,968 | €15,968 | = | 0.0% |
| Reserves | 13 | €380,058 | €405,051 | +€24,993 | +6.6% |
| Distributable reserves | 133 | €380,058 | €405,051 | +€24,993 | +6.6% |
| Amounts payable | 17/49 | €244,137 | €190,082 | -€54,054 | -22.1% |
| Amounts payable after more than one year | 17 | €59,794 | €40,139 | -€19,655 | -32.9% |
| Financial debts | 170/4 | €59,794 | €40,139 | -€19,655 | -32.9% |
| Amounts payable within one year | 42/48 | €182,646 | €148,247 | -€34,399 | -18.8% |
| Current portion of amounts payable after more than one year | 42 | €145,765 | €84,009 | -€61,755 | -42.4% |
| Trade debts | 44 | €5,668 | €2,032 | -€3,636 | -64.2% |
| Suppliers | 440/4 | €5,668 | €2,032 | -€3,636 | -64.2% |
| Taxes, remuneration and social security | 45 | €31,213 | €25,297 | -€5,916 | -19.0% |
| Taxes | 450/3 | €31,213 | €25,297 | -€5,916 | -19.0% |
| Other amounts payable | 47/48 | - | €36,909 | +€36,909 | |
| Accrued charges and deferred income | 492/3 | €1,697 | €1,697 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,688 | €44,627 | +€5,939 | +15.4% |
| Other operating charges | 640/8 | €2,296 | €2,117 | -€179 | -7.8% |
| Gross operating margin | 9900 | €127,435 | €140,703 | +€13,268 | +10.4% |
| Operating profit (loss) | 9901 | €86,450 | €93,959 | +€7,509 | +8.7% |
| Financial income | 75/76B | €0 | €315 | +€315 | +787,975% |
| Recurring financial income | 75 | €0 | €315 | +€315 | +787,975% |
| Financial charges | 65/66B | €6,902 | €7,266 | +€364 | +5.3% |
| Recurring financial charges | 65 | €6,902 | €7,266 | +€364 | +5.3% |
| Profit (loss) for the period before taxes | 9903 | €79,548 | €87,008 | +€7,460 | +9.4% |
| Income taxes | 67/77 | €23,257 | €25,397 | +€2,140 | +9.2% |
| Profit (loss) for the period | 9904 | €56,291 | €61,611 | +€5,320 | +9.5% |
| Profit (loss) for the period to be appropriated | 9905 | €56,291 | €61,611 | +€5,320 | +9.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.