V.A.K.: 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.
V.A.K.
Largest movements
- Cash -€29,248
down €29,248 (-96.6%), from €30,268 to €1,020
mainly Net result for the year (-€30,875) and Receivables within one year (-€21,170)
- Receivables within one year +€21,170
up €21,170 (+269%), from €7,882 to €29,052
of which Trade receivables: +€22,763
- Tangible fixed assets -€5,570
down €5,570 (-15.0%), from €37,173 to €31,603
of which Furniture and vehicles: -€7,629
- Profit (loss) carried forward -€30,875
down €30,875, from €15,933 to -€14,943
- Other debts +€23,436
up €23,436 (+173%), from €13,546 to €36,981
- Debts after one year -€8,306
down €8,306 (-35.8%), from €23,193 to €14,887
- Trade debts +€3,144
up €3,144 (+35.3%), from €8,900 to €12,044
- Tax, wage and social debts -€1,721
down €1,721 (-34.8%), from €4,946 to €3,225
of which Taxes: -€2,048
- Purchases and services +€66,568
new in 2025: €66,568
- Turnover +€43,733
new in 2025: €43,733
- Gross operating margin -€42,201
down €42,201, from €23,708 to -€18,493
- Depreciation +€7,174
up €7,174 (+338%), from €2,120 to €9,294
- Taxes -€4,089
no longer reported in 2025 (was €4,089)
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 | €77,533 | €63,501 | -€14,032 | -18.1% |
| Fixed assets | 21/28 | €37,173 | €31,603 | -€5,570 | -15.0% |
| Tangible fixed assets | 22/27 | €37,173 | €31,603 | -€5,570 | -15.0% |
| Land and buildings | 22 | €13,095 | €15,155 | +€2,059 | +15.7% |
| Furniture and vehicles | 24 | €24,078 | €16,448 | -€7,629 | -31.7% |
| Current assets | 29/58 | €40,360 | €31,898 | -€8,462 | -21.0% |
| Amounts receivable within one year | 40/41 | €7,882 | €29,052 | +€21,170 | +269% |
| Trade receivables | 40 | €6,289 | €29,052 | +€22,763 | +362% |
| Other amounts receivable | 41 | €1,593 | - | -€1,593 | |
| Cash at bank and in hand | 54/58 | €30,268 | €1,020 | -€29,248 | -96.6% |
| Deferred charges and accrued income | 490/1 | €2,210 | €1,826 | -€384 | -17.4% |
| Total equity and liabilities | 10/49 | €77,533 | €63,501 | -€14,032 | -18.1% |
| Equity | 10/15 | €18,933 | -€11,943 | -€30,875 | |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,933 | -€14,943 | -€30,875 | |
| Amounts payable | 17/49 | €58,600 | €75,443 | +€16,843 | +28.7% |
| Amounts payable after more than one year | 17 | €23,193 | €14,887 | -€8,306 | -35.8% |
| Financial debts | 170/4 | €23,193 | €14,887 | -€8,306 | -35.8% |
| Amounts payable within one year | 42/48 | €35,407 | €60,556 | +€25,150 | +71.0% |
| Current portion of amounts payable after more than one year | 42 | €8,015 | €8,306 | +€291 | +3.6% |
| Trade debts | 44 | €8,900 | €12,044 | +€3,144 | +35.3% |
| Suppliers | 440/4 | €8,900 | €12,044 | +€3,144 | +35.3% |
| Taxes, remuneration and social security | 45 | €4,946 | €3,225 | -€1,721 | -34.8% |
| Taxes | 450/3 | €4,946 | €2,898 | -€2,048 | -41.4% |
| Remuneration and social security | 454/9 | - | €327 | +€327 | |
| Other amounts payable | 47/48 | €13,546 | €36,981 | +€23,436 | +173% |
| Turnover | 70 | - | €43,733 | +€43,733 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €66,568 | +€66,568 | |
| Remuneration, social security and pensions | 62 | - | €49 | +€49 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,120 | €9,294 | +€7,174 | +338% |
| Other operating charges | 640/8 | €114 | €1,080 | +€966 | +850% |
| Gross operating margin | 9900 | €23,708 | -€18,493 | -€42,201 | |
| Operating profit (loss) | 9901 | €21,475 | -€28,915 | -€50,390 | |
| Financial income | 75/76B | €203 | €251 | +€47 | +23.2% |
| Recurring financial income | 75 | €203 | €251 | +€47 | +23.2% |
| Financial charges | 65/66B | €1,656 | €2,210 | +€554 | +33.5% |
| Recurring financial charges | 65 | €1,656 | €2,210 | +€554 | +33.5% |
| Profit (loss) for the period before taxes | 9903 | €20,022 | -€30,875 | -€50,897 | |
| Income taxes | 67/77 | €4,089 | - | -€4,089 | |
| Profit (loss) for the period | 9904 | €15,933 | -€30,875 | -€46,808 | |
| Profit (loss) for the period to be appropriated | 9905 | €15,933 | -€30,875 | -€46,808 |
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 17 October 2026 via checked.be.