V.C.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.
What changed
V.C.K.
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€2,031
2024 · €33,344-€31,313
Equity
€6.2m
2024 · €6.2m+€2,031
Cash
€12,501
2024 · €3,786+€8,714
Balance sheet total
€10.0m
2024 · €10.2m-€177,490
Largest movements
Assets
- Receivables after one year -€110,607
down €110,607 (-8.3%), from €1.3m to €1.2m
Equity and liabilities
- Debts after one year -€264,409
down €264,409 (-8.5%), from €3.1m to €2.9m
of which Financial debts: -€263,709
Income statement
- Depreciation +€50,428
up €50,428 (+15.9%), from €316,787 to €367,215
- Gross operating margin +€36,764
up €36,764 (+7.6%), from €485,964 to €522,728
- Financial charges +€23,464
up €23,464 (+24.0%), from €97,942 to €121,405
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.
Result 2024
€33,344
Gross operating margin
+€36,764
Depreciation
-€50,428
Other operating charges
-€946
Financial income
+€2,560
Financial charges
-€23,464
Taxes
+€4,200
Result 2025
€2,031
raises the resultlowers the result
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.
From operations
+€513,092
Investment
-€283,440
Financing
-€220,937
Cash 2024
€3,786
From operations (derived)
+€513,092
Net result for the year
+€2,031
Depreciation
+€367,215
Receivables after one year
+€110,607
Receivables within one year
-€37,586
Deferred charges and accrued income
+€29,410
Trade debts
-€11,996
Tax, wage and social debts
-€18,200
Advances received
+€1,100
Other debts
+€64,336
Accrued charges and deferred income
+€6,177
Investment (derived)
-€283,440
Investment in fixed assets (net)
-€283,440
Financing
-€220,937
Debts after one year
-€264,409
Current portion of long-term debt
+€54,149
Short-term financial debts
-€10,677
Cash 2025
€12,501
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,215,981 | €10,038,490 | -€177,490 | -1.7% |
| Fixed assets | 21/28 | €8,030,091 | €7,946,317 | -€83,775 | -1.0% |
| Tangible fixed assets | 22/27 | €5,318,718 | €5,234,943 | -€83,775 | -1.6% |
| Land and buildings | 22 | €519,053 | €734,985 | +€215,932 | +41.6% |
| Other tangible fixed assets | 26 | €4,799,665 | €4,499,959 | -€299,707 | -6.2% |
| Financial fixed assets | 28 | €2,711,373 | €2,711,373 | = | 0.0% |
| Current assets | 29/58 | €2,185,889 | €2,092,174 | -€93,716 | -4.3% |
| Amounts receivable after more than one year | 29 | €1,340,000 | €1,229,393 | -€110,607 | -8.3% |
| Other amounts receivable | 291 | €1,340,000 | €1,229,393 | -€110,607 | -8.3% |
| Amounts receivable within one year | 40/41 | €807,007 | €844,594 | +€37,586 | +4.7% |
| Trade receivables | 40 | €11,247 | €86,872 | +€75,625 | +672% |
| Other amounts receivable | 41 | €795,761 | €757,722 | -€38,039 | -4.8% |
| Cash at bank and in hand | 54/58 | €3,786 | €12,501 | +€8,714 | +230% |
| Deferred charges and accrued income | 490/1 | €35,096 | €5,686 | -€29,410 | -83.8% |
| Total equity and liabilities | 10/49 | €10,215,981 | €10,038,490 | -€177,490 | -1.7% |
| Equity | 10/15 | €6,219,847 | €6,221,878 | +€2,031 | 0.0% |
| Contributions | 10/11 | €155,565 | €155,565 | = | 0.0% |
| Capital | 10 | €155,565 | €155,565 | = | 0.0% |
| Issued capital | 100 | €155,565 | €155,565 | = | 0.0% |
| Revaluation surpluses | 12 | €4,858,701 | €4,858,701 | = | 0.0% |
| Reserves | 13 | €1,205,582 | €1,207,612 | +€2,031 | +0.2% |
| Non-distributable reserves | 130/1 | €15,556 | €15,556 | = | 0.0% |
| Legal reserve | 130 | €15,556 | €15,556 | = | 0.0% |
| Distributable reserves | 133 | €1,190,025 | €1,192,056 | +€2,031 | +0.2% |
| Amounts payable | 17/49 | €3,996,133 | €3,816,612 | -€179,521 | -4.5% |
| Amounts payable after more than one year | 17 | €3,118,420 | €2,854,010 | -€264,409 | -8.5% |
| Financial debts | 170/4 | €3,116,420 | €2,852,710 | -€263,709 | -8.5% |
| Other amounts payable | 178/9 | €2,000 | €1,300 | -€700 | -35.0% |
| Amounts payable within one year | 42/48 | €857,572 | €936,283 | +€78,711 | +9.2% |
| Current portion of amounts payable after more than one year | 42 | €266,969 | €321,117 | +€54,149 | +20.3% |
| Financial debts | 43 | €527,523 | €516,846 | -€10,677 | -2.0% |
| Credit institutions | 430/8 | €527,523 | €516,846 | -€10,677 | -2.0% |
| Trade debts | 44 | €43,270 | €31,274 | -€11,996 | -27.7% |
| Suppliers | 440/4 | €43,270 | €31,274 | -€11,996 | -27.7% |
| Advances received on contracts in progress | 46 | €1,610 | €2,710 | +€1,100 | +68.3% |
| Taxes, remuneration and social security | 45 | €18,200 | €0 | -€18,200 | -100% |
| Taxes | 450/3 | €18,200 | €0 | -€18,200 | -100% |
| Other amounts payable | 47/48 | - | €64,336 | +€64,336 | |
| Accrued charges and deferred income | 492/3 | €20,142 | €26,319 | +€6,177 | +30.7% |
| Non-recurring operating income | 76A | €3,174 | €0 | -€3,174 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €316,787 | €367,215 | +€50,428 | +15.9% |
| Other operating charges | 640/8 | €2,707 | €3,653 | +€946 | +34.9% |
| Gross operating margin | 9900 | €485,964 | €522,728 | +€36,764 | +7.6% |
| Operating profit (loss) | 9901 | €166,471 | €151,861 | -€14,610 | -8.8% |
| Financial income | 75/76B | €32,508 | €35,068 | +€2,560 | +7.9% |
| Recurring financial income | 75 | €32,508 | €35,068 | +€2,560 | +7.9% |
| Financial charges | 65/66B | €97,942 | €121,405 | +€23,464 | +24.0% |
| Recurring financial charges | 65 | €97,942 | €121,405 | +€23,464 | +24.0% |
| Profit (loss) for the period before taxes | 9903 | €101,037 | €65,524 | -€35,513 | -35.1% |
| Income taxes | 67/77 | €67,693 | €63,493 | -€4,200 | -6.2% |
| Profit (loss) for the period | 9904 | €33,344 | €2,031 | -€31,313 | -93.9% |
| Profit (loss) for the period to be appropriated | 9905 | €33,344 | €2,031 | -€31,313 | -93.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.