VRLST: 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.
VRLST
Largest movements
- Tangible fixed assets +€34,891
up €34,891 (+364%), from €9,577 to €44,468
of which Leasing and similar rights: +€33,277
- Cash +€23,236
up €23,236 (+64.9%), from €35,806 to €59,042
mainly Net result for the year (+€63,572) and Debts after one year (+€19,253)
- Receivables within one year -€17,048
down €17,048 (-16.9%), from €100,740 to €83,692
of which Other amounts receivable: -€17,326
- Deferred charges and accrued income -€6,318
down €6,318 (-70.5%), from €8,959 to €2,641
- Reserves +€51,377
up €51,377 (+51.9%), from €98,899 to €150,275
- Other debts -€37,805
down €37,805 (-75.6%), from €50,000 to €12,195
- Debts after one year +€19,253
new in 2025: €19,253
- Current portion of long-term debt +€5,816
new in 2025: €5,816
- Tax, wage and social debts -€3,314
down €3,314 (-79.4%), from €4,174 to €860
- Turnover +€254,753
new in 2025: €254,753
- Purchases and services +€152,863
new in 2025: €152,863
- Gross operating margin +€35,843
up €35,843 (+53.0%), from €67,676 to €103,519
- Depreciation +€7,159
up €7,159 (+297%), from €2,409 to €9,568
- Financial charges +€4,506
up €4,506, from -€1,991 to €2,515
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 | €157,082 | €191,843 | +€34,761 | +22.1% |
| Fixed assets | 21/28 | €9,577 | €44,468 | +€34,891 | +364% |
| Tangible fixed assets | 22/27 | €9,577 | €44,468 | +€34,891 | +364% |
| Furniture and vehicles | 24 | €4,658 | €6,927 | +€2,269 | +48.7% |
| Leasing and similar rights | 25 | - | €33,277 | +€33,277 | |
| Other tangible fixed assets | 26 | €4,919 | €4,264 | -€655 | -13.3% |
| Current assets | 29/58 | €147,505 | €147,375 | -€130 | -0.1% |
| Amounts receivable within one year | 40/41 | €100,740 | €83,692 | -€17,048 | -16.9% |
| Trade receivables | 40 | €29,095 | €29,372 | +€277 | +1.0% |
| Other amounts receivable | 41 | €71,645 | €54,320 | -€17,326 | -24.2% |
| Current investments | 50/53 | €2,000 | €2,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €35,806 | €59,042 | +€23,236 | +64.9% |
| Deferred charges and accrued income | 490/1 | €8,959 | €2,641 | -€6,318 | -70.5% |
| Total equity and liabilities | 10/49 | €157,082 | €191,843 | +€34,761 | +22.1% |
| Equity | 10/15 | €101,399 | €152,775 | +€51,377 | +50.7% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €98,899 | €150,275 | +€51,377 | +51.9% |
| Distributable reserves | 133 | €98,899 | €150,275 | +€51,377 | +51.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €55,683 | €39,068 | -€16,616 | -29.8% |
| Amounts payable after more than one year | 17 | - | €19,253 | +€19,253 | |
| Financial debts | 170/4 | - | €19,253 | +€19,253 | |
| Amounts payable within one year | 42/48 | €54,562 | €19,814 | -€34,747 | -63.7% |
| Current portion of amounts payable after more than one year | 42 | - | €5,816 | +€5,816 | |
| Trade debts | 44 | €387 | €943 | +€555 | +143% |
| Suppliers | 440/4 | €387 | €943 | +€555 | +143% |
| Taxes, remuneration and social security | 45 | €4,174 | €860 | -€3,314 | -79.4% |
| Taxes | 450/3 | €4,174 | €860 | -€3,314 | -79.4% |
| Other amounts payable | 47/48 | €50,000 | €12,195 | -€37,805 | -75.6% |
| Accrued charges and deferred income | 492/3 | €1,122 | €0 | -€1,122 | -100% |
| Turnover | 70 | - | €254,753 | +€254,753 | |
| Non-recurring operating income | 76A | - | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €152,863 | +€152,863 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,409 | €9,568 | +€7,159 | +297% |
| Other operating charges | 640/8 | €1,711 | €4,979 | +€3,268 | +191% |
| Non-recurring operating charges | 66A | - | €4,176 | +€4,176 | |
| Gross operating margin | 9900 | €67,676 | €103,519 | +€35,843 | +53.0% |
| Operating profit (loss) | 9901 | €63,556 | €84,796 | +€21,240 | +33.4% |
| Financial income | 75/76B | €3,024 | €164 | -€2,860 | -94.6% |
| Recurring financial income | 75 | €3,024 | €164 | -€2,860 | -94.6% |
| Financial charges | 65/66B | -€1,991 | €2,515 | +€4,506 | |
| Recurring financial charges | 65 | -€1,991 | €2,515 | +€4,506 | |
| Profit (loss) for the period before taxes | 9903 | €68,571 | €82,445 | +€13,874 | +20.2% |
| Income taxes | 67/77 | €17,636 | €18,873 | +€1,237 | +7.0% |
| Profit (loss) for the period | 9904 | €50,935 | €63,572 | +€12,637 | +24.8% |
| Profit (loss) for the period to be appropriated | 9905 | €50,935 | €63,572 | +€12,637 | +24.8% |
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 28 October 2026 via checked.be.