VRL 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.
VRL Management
Largest movements
- Cash +€10,073
up €10,073 (+383%), from €2,629 to €12,702
mainly Net result for the year (+€9,685) and Receivables within one year (+€2,743)
- Receivables within one year -€2,743
down €2,743 (-95.3%), from €2,878 to €136
of which Trade receivables: -€2,700
- Tangible fixed assets +€1,111
new in 2025: €1,111
- Reserves +€8,852
up €8,852 (+1,391%), from €637 to €9,489
- Other debts -€1,045
down €1,045 (-46.5%), from €2,246 to €1,201
- Tax, wage and social debts +€577
up €577 (+49.9%), from €1,156 to €1,733
- Gross operating margin +€11,135
up €11,135 (+557%), from €1,999 to €13,134
- Taxes +€2,137
up €2,137 (+294%), from €727 to €2,864
- Other operating charges -€384
down €384 (-86.1%), from €446 to €62
- Depreciation +€309
new in 2025: €309
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 | €5,507 | €13,949 | +€8,441 | +153% |
| Fixed assets | 21/28 | - | €1,111 | +€1,111 | |
| Tangible fixed assets | 22/27 | - | €1,111 | +€1,111 | |
| Furniture and vehicles | 24 | - | €1,111 | +€1,111 | |
| Current assets | 29/58 | €5,507 | €12,837 | +€7,330 | +133% |
| Amounts receivable within one year | 40/41 | €2,878 | €136 | -€2,743 | -95.3% |
| Trade receivables | 40 | €2,700 | - | -€2,700 | |
| Other amounts receivable | 41 | €178 | €136 | -€43 | -23.9% |
| Cash at bank and in hand | 54/58 | €2,629 | €12,702 | +€10,073 | +383% |
| Total equity and liabilities | 10/49 | €5,507 | €13,949 | +€8,441 | +153% |
| Equity | 10/15 | €757 | €9,609 | +€8,852 | +1,170% |
| Contributions | 10/11 | €120 | €120 | = | 0.0% |
| Reserves | 13 | €637 | €9,489 | +€8,852 | +1,391% |
| Distributable reserves | 133 | €637 | €9,489 | +€8,852 | +1,391% |
| Amounts payable | 17/49 | €4,751 | €4,340 | -€411 | -8.6% |
| Amounts payable within one year | 42/48 | €4,751 | €4,340 | -€411 | -8.6% |
| Trade debts | 44 | €1,348 | €1,406 | +€58 | +4.3% |
| Suppliers | 440/4 | €1,348 | €1,406 | +€58 | +4.3% |
| Taxes, remuneration and social security | 45 | €1,156 | €1,733 | +€577 | +49.9% |
| Taxes | 450/3 | €1,156 | €1,733 | +€577 | +49.9% |
| Other amounts payable | 47/48 | €2,246 | €1,201 | -€1,045 | -46.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €309 | +€309 | |
| Other operating charges | 640/8 | €446 | €62 | -€384 | -86.1% |
| Gross operating margin | 9900 | €1,999 | €13,134 | +€11,135 | +557% |
| Operating profit (loss) | 9901 | €1,552 | €12,763 | +€11,211 | +722% |
| Financial charges | 65/66B | €189 | €213 | +€24 | +12.8% |
| Recurring financial charges | 65 | €189 | €213 | +€24 | +12.8% |
| Profit (loss) for the period before taxes | 9903 | €1,363 | €12,550 | +€11,186 | +820% |
| Income taxes | 67/77 | €727 | €2,864 | +€2,137 | +294% |
| Profit (loss) for the period | 9904 | €637 | €9,685 | +€9,049 | +1,422% |
| Profit (loss) for the period to be appropriated | 9905 | €637 | €9,685 | +€9,049 | +1,422% |
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 15 October 2026 via checked.be.