VLT Group: 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.
VLT Group
Largest movements
- Receivables within one year +€20,891
up €20,891 (+138%), from €15,114 to €36,005
of which Trade receivables: +€20,148
- Cash -€12,730
down €12,730 (-21.7%), from €58,695 to €45,965
mainly Receivables within one year (-€20,891) and Trade debts (-€16,889)
- Tangible fixed assets -€6,490
down €6,490 (-13.1%), from €49,397 to €42,907
of which Land and buildings: -€5,138
- Stocks and contracts -€3,893
down €3,893 (-15.1%), from €25,800 to €21,907
- Trade debts -€16,889
down €16,889 (-61.4%), from €27,527 to €10,638
- Reserves +€15,888
up €15,888 (+23.1%), from €68,850 to €84,738
- Debts after one year -€7,355
down €7,355 (-30.4%), from €24,203 to €16,848
- Tax, wage and social debts +€5,829
up €5,829 (+47.2%), from €12,339 to €18,168
- Gross operating margin +€12,800
up €12,800 (+29.4%), from €43,476 to €56,276
- Taxes +€4,996
up €4,996 (+183%), from €2,723 to €7,719
- Staff costs -€3,571
down €3,571 (-15.1%), from €23,701 to €20,130
- Financial charges -€2,847
down €2,847 (-60.1%), from €4,735 to €1,888
- Other operating charges +€1,202
up €1,202 (+102%), from €1,176 to €2,378
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 | €153,206 | €150,984 | -€2,222 | -1.5% |
| Fixed assets | 21/28 | €53,597 | €47,107 | -€6,490 | -12.1% |
| Tangible fixed assets | 22/27 | €49,397 | €42,907 | -€6,490 | -13.1% |
| Land and buildings | 22 | €46,243 | €41,105 | -€5,138 | -11.1% |
| Furniture and vehicles | 24 | €3,154 | €1,802 | -€1,352 | -42.9% |
| Financial fixed assets | 28 | €4,200 | €4,200 | = | 0.0% |
| Current assets | 29/58 | €99,609 | €103,877 | +€4,268 | +4.3% |
| Stocks and contracts in progress | 3 | €25,800 | €21,907 | -€3,893 | -15.1% |
| Stocks | 30/36 | €25,800 | €21,907 | -€3,893 | -15.1% |
| Amounts receivable within one year | 40/41 | €15,114 | €36,005 | +€20,891 | +138% |
| Trade receivables | 40 | €15,106 | €35,254 | +€20,148 | +133% |
| Other amounts receivable | 41 | €8 | €751 | +€743 | +9,288% |
| Cash at bank and in hand | 54/58 | €58,695 | €45,965 | -€12,730 | -21.7% |
| Total equity and liabilities | 10/49 | €153,206 | €150,984 | -€2,222 | -1.5% |
| Equity | 10/15 | €81,910 | €97,798 | +€15,888 | +19.4% |
| Contributions | 10/11 | €13,060 | €13,060 | = | 0.0% |
| Contributions outside capital | 11 | €13,060 | €13,060 | = | 0.0% |
| Other | 1109/19 | €13,060 | €13,060 | = | 0.0% |
| Reserves | 13 | €68,850 | €84,738 | +€15,888 | +23.1% |
| Distributable reserves | 133 | €68,850 | €84,738 | +€15,888 | +23.1% |
| Amounts payable | 17/49 | €71,296 | €53,186 | -€18,110 | -25.4% |
| Amounts payable after more than one year | 17 | €24,203 | €16,848 | -€7,355 | -30.4% |
| Financial debts | 170/4 | €24,203 | €16,848 | -€7,355 | -30.4% |
| Amounts payable within one year | 42/48 | €47,093 | €36,338 | -€10,755 | -22.8% |
| Current portion of amounts payable after more than one year | 42 | €7,102 | €7,355 | +€253 | +3.6% |
| Trade debts | 44 | €27,527 | €10,638 | -€16,889 | -61.4% |
| Suppliers | 440/4 | €27,527 | €10,638 | -€16,889 | -61.4% |
| Taxes, remuneration and social security | 45 | €12,339 | €18,168 | +€5,829 | +47.2% |
| Taxes | 450/3 | €12,339 | €18,168 | +€5,829 | +47.2% |
| Other amounts payable | 47/48 | €125 | €177 | +€52 | +41.6% |
| Remuneration, social security and pensions | 62 | €23,701 | €20,130 | -€3,571 | -15.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,039 | €6,490 | +€451 | +7.5% |
| Other operating charges | 640/8 | €1,176 | €2,378 | +€1,202 | +102% |
| Gross operating margin | 9900 | €43,476 | €56,276 | +€12,800 | +29.4% |
| Operating profit (loss) | 9901 | €12,560 | €27,278 | +€14,718 | +117% |
| Financial charges | 65/66B | €4,735 | €1,888 | -€2,847 | -60.1% |
| Recurring financial charges | 65 | €4,735 | €1,888 | -€2,847 | -60.1% |
| Profit (loss) for the period before taxes | 9903 | €7,825 | €25,390 | +€17,565 | +224% |
| Income taxes | 67/77 | €2,723 | €7,719 | +€4,996 | +183% |
| Profit (loss) for the period | 9904 | €5,102 | €17,671 | +€12,569 | +246% |
| Profit (loss) for the period to be appropriated | 9905 | €5,102 | €17,671 | +€12,569 | +246% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.