VLWORKS: what changed
VLWORKS
Largest movements
- Cash +€45,146
up €45,146 (+33.5%), from €134,594 to €179,741
mainly Net result for the year (+€41,475) and Tax, wage and social debts (+€7,160)
- Receivables within one year +€3,207
up €3,207 (+25.9%), from €12,403 to €15,609
- Reserves +€41,000
up €41,000 (+40.3%), from €101,860 to €142,860
of which Distributable reserves: +€41,000
- Tax, wage and social debts +€7,160
up €7,160 (+24.7%), from €29,028 to €36,188
of which Taxes: +€7,808
- Gross operating margin +€26,119
up €26,119 (+67.1%), from €38,949 to €65,068
- Taxes +€10,548
up €10,548 (+92.9%), from €11,359 to €21,907
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €149,806 | €197,778 | +€47,972 | +32.0% |
| Fixed assets | 21/28 | €1,266 | €842 | -€424 | -33.5% |
| Tangible fixed assets | 22/27 | €1,266 | €842 | -€424 | -33.5% |
| Furniture and vehicles | 24 | €1,266 | €842 | -€424 | -33.5% |
| Current assets | 29/58 | €148,540 | €196,937 | +€48,396 | +32.6% |
| Amounts receivable within one year | 40/41 | €12,403 | €15,609 | +€3,207 | +25.9% |
| Trade receivables | 40 | €12,403 | €15,609 | +€3,207 | +25.9% |
| Cash at bank and in hand | 54/58 | €134,594 | €179,741 | +€45,146 | +33.5% |
| Deferred charges and accrued income | 490/1 | €1,543 | €1,587 | +€44 | +2.8% |
| Total equity and liabilities | 10/49 | €149,806 | €197,778 | +€47,972 | +32.0% |
| Equity | 10/15 | €115,938 | €157,413 | +€41,475 | +35.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €101,860 | €142,860 | +€41,000 | +40.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €100,000 | €141,000 | +€41,000 | +41.0% |
| Profit (loss) carried forward | 14 | €1,678 | €2,153 | +€475 | +28.3% |
| Amounts payable | 17/49 | €33,868 | €40,365 | +€6,497 | +19.2% |
| Amounts payable within one year | 42/48 | €33,868 | €40,365 | +€6,497 | +19.2% |
| Trade debts | 44 | €761 | €90 | -€670 | -88.1% |
| Suppliers | 440/4 | €761 | €90 | -€670 | -88.1% |
| Taxes, remuneration and social security | 45 | €29,028 | €36,188 | +€7,160 | +24.7% |
| Taxes | 450/3 | €19,287 | €27,095 | +€7,808 | +40.5% |
| Remuneration and social security | 454/9 | €9,741 | €9,093 | -€648 | -6.7% |
| Other amounts payable | 47/48 | €4,079 | €4,087 | +€7 | +0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7 | €424 | +€417 | +5,996% |
| Other operating charges | 640/8 | €1,414 | €1,241 | -€174 | -12.3% |
| Gross operating margin | 9900 | €38,949 | €65,068 | +€26,119 | +67.1% |
| Operating profit (loss) | 9901 | €37,528 | €63,403 | +€25,875 | +68.9% |
| Financial charges | 65/66B | €313 | €21 | -€292 | -93.3% |
| Recurring financial charges | 65 | €313 | €21 | -€292 | -93.3% |
| Profit (loss) for the period before taxes | 9903 | €37,215 | €63,382 | +€26,167 | +70.3% |
| Income taxes | 67/77 | €11,359 | €21,907 | +€10,548 | +92.9% |
| Profit (loss) for the period | 9904 | €25,856 | €41,475 | +€15,619 | +60.4% |
| Profit (loss) for the period to be appropriated | 9905 | €25,856 | €41,475 | +€15,619 | +60.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 1 January 2025 and 1 January 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.