VVL MANAGEMENT: 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.
VVL MANAGEMENT
Largest movements
- Current investments +€300,000
up €300,000 (+35.3%), from €850,000 to €1.2m
- Cash -€27,697
down €27,697 (-25.7%), from €107,824 to €80,127
mainly Current investments (-€300,000) and Investment in fixed assets (net) (-€5,500)
- Reserves +€254,539
up €254,539 (+26.6%), from €957,574 to €1.2m
- Tax, wage and social debts +€22,271
up €22,271 (+60.3%), from €36,907 to €59,178
- Gross operating margin +€10,557
up €10,557 (+3.1%), from €338,535 to €349,093
- Financial income -€5,003
down €5,003 (-19.9%), from €25,149 to €20,146
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 | €1,005,459 | €1,282,906 | +€277,447 | +27.6% |
| Fixed assets | 21/28 | - | €4,840 | +€4,840 | |
| Tangible fixed assets | 22/27 | - | €4,840 | +€4,840 | |
| Furniture and vehicles | 24 | - | €4,840 | +€4,840 | |
| Current assets | 29/58 | €1,005,459 | €1,278,066 | +€272,607 | +27.1% |
| Amounts receivable within one year | 40/41 | €42,029 | €43,372 | +€1,343 | +3.2% |
| Trade receivables | 40 | €42,029 | €43,372 | +€1,343 | +3.2% |
| Current investments | 50/53 | €850,000 | €1,150,000 | +€300,000 | +35.3% |
| Cash at bank and in hand | 54/58 | €107,824 | €80,127 | -€27,697 | -25.7% |
| Deferred charges and accrued income | 490/1 | €5,605 | €4,566 | -€1,039 | -18.5% |
| Total equity and liabilities | 10/49 | €1,005,459 | €1,282,906 | +€277,447 | +27.6% |
| Equity | 10/15 | €967,574 | €1,222,114 | +€254,539 | +26.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €957,574 | €1,212,114 | +€254,539 | +26.6% |
| Distributable reserves | 133 | €957,574 | €1,212,114 | +€254,539 | +26.6% |
| Amounts payable | 17/49 | €37,885 | €60,793 | +€22,908 | +60.5% |
| Amounts payable within one year | 42/48 | €37,885 | €60,793 | +€22,908 | +60.5% |
| Trade debts | 44 | €933 | €1,570 | +€637 | +68.3% |
| Suppliers | 440/4 | €933 | €1,570 | +€637 | +68.3% |
| Taxes, remuneration and social security | 45 | €36,907 | €59,178 | +€22,271 | +60.3% |
| Taxes | 450/3 | €36,907 | €59,178 | +€22,271 | +60.3% |
| Other amounts payable | 47/48 | €44 | €44 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €237 | €660 | +€423 | +178% |
| Other operating charges | 640/8 | €569 | €695 | +€126 | +22.2% |
| Gross operating margin | 9900 | €338,535 | €349,093 | +€10,557 | +3.1% |
| Operating profit (loss) | 9901 | €337,729 | €347,737 | +€10,009 | +3.0% |
| Financial income | 75/76B | €25,149 | €20,146 | -€5,003 | -19.9% |
| Recurring financial income | 75 | €25,149 | €20,146 | -€5,003 | -19.9% |
| Financial charges | 65/66B | €284 | €319 | +€35 | +12.5% |
| Recurring financial charges | 65 | €284 | €319 | +€35 | +12.5% |
| Profit (loss) for the period before taxes | 9903 | €362,594 | €367,565 | +€4,970 | +1.4% |
| Income taxes | 67/77 | €111,370 | €113,026 | +€1,655 | +1.5% |
| Profit (loss) for the period | 9904 | €251,224 | €254,539 | +€3,315 | +1.3% |
| Profit (loss) for the period to be appropriated | 9905 | €251,224 | €254,539 | +€3,315 | +1.3% |
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 30 October 2026 via checked.be.