V.K.: what changed
Two fiscal 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.K.
Largest movements
- Tangible fixed assets -€30,715
down €30,715 (-7.0%), from €441,026 to €410,311
of which Land and buildings: -€25,532
- Receivables within one year -€14,029
down €14,029 (-52.8%), from €26,573 to €12,545
of which Trade receivables: -€13,859
- Debts after one year -€48,570
down €48,570 (-17.7%), from €274,603 to €226,033
of which Financial debts: -€48,380
- Profit (loss) carried forward +€12,677
up €12,677 (+59.2%), from €21,424 to €34,101
- Trade debts -€8,318
down €8,318 (-24.4%), from €34,087 to €25,769
- Gross operating margin -€11,750
down €11,750 (-15.5%), from €75,633 to €63,883
- Taxes -€3,245
down €3,245 (-36.5%), from €8,900 to €5,655
- Financial charges -€772
down €772 (-13.2%), from €5,868 to €5,096
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.
Cash bridge derived
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 | €475,561 | €429,860 | -€45,701 | -9.6% |
| Fixed assets | 21/28 | €441,121 | €410,311 | -€30,811 | -7.0% |
| Intangible fixed assets | 21 | €95 | - | -€95 | |
| Tangible fixed assets | 22/27 | €441,026 | €410,311 | -€30,715 | -7.0% |
| Land and buildings | 22 | €425,451 | €399,918 | -€25,532 | -6.0% |
| Plant, machinery and equipment | 23 | €6,022 | €4,192 | -€1,830 | -30.4% |
| Furniture and vehicles | 24 | €9,554 | €6,201 | -€3,353 | -35.1% |
| Current assets | 29/58 | €34,440 | €19,550 | -€14,890 | -43.2% |
| Amounts receivable within one year | 40/41 | €26,573 | €12,545 | -€14,029 | -52.8% |
| Trade receivables | 40 | €26,367 | €12,508 | -€13,859 | -52.6% |
| Other amounts receivable | 41 | €207 | €37 | -€169 | -82.0% |
| Cash at bank and in hand | 54/58 | €717 | €1,071 | +€354 | +49.3% |
| Deferred charges and accrued income | 490/1 | €7,149 | €5,934 | -€1,215 | -17.0% |
| Total equity and liabilities | 10/49 | €475,561 | €429,860 | -€45,701 | -9.6% |
| Equity | 10/15 | €112,094 | €124,771 | +€12,677 | +11.3% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €60,670 | €60,670 | = | 0.0% |
| Distributable reserves | 133 | €60,670 | €60,670 | = | 0.0% |
| Profit (loss) carried forward | 14 | €21,424 | €34,101 | +€12,677 | +59.2% |
| Amounts payable | 17/49 | €363,467 | €305,089 | -€58,378 | -16.1% |
| Amounts payable after more than one year | 17 | €274,603 | €226,033 | -€48,570 | -17.7% |
| Financial debts | 170/4 | €272,773 | €224,393 | -€48,380 | -17.7% |
| Other amounts payable | 178/9 | €1,830 | €1,640 | -€190 | -10.4% |
| Amounts payable within one year | 42/48 | €86,854 | €78,390 | -€8,464 | -9.7% |
| Current portion of amounts payable after more than one year | 42 | €28,725 | €29,066 | +€341 | +1.2% |
| Trade debts | 44 | €34,087 | €25,769 | -€8,318 | -24.4% |
| Suppliers | 440/4 | €34,087 | €25,769 | -€8,318 | -24.4% |
| Taxes, remuneration and social security | 45 | €16,577 | €17,555 | +€978 | +5.9% |
| Taxes | 450/3 | €16,577 | €17,555 | +€978 | +5.9% |
| Other amounts payable | 47/48 | €7,464 | €6,000 | -€1,464 | -19.6% |
| Accrued charges and deferred income | 492/3 | €2,011 | €667 | -€1,344 | -66.9% |
| Non-recurring operating income | 76A | - | €950 | +€950 | |
| Remuneration, social security and pensions | 62 | €2,853 | €2,749 | -€103 | -3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,884 | €31,306 | +€422 | +1.4% |
| Other operating charges | 640/8 | €5,711 | €6,402 | +€690 | +12.1% |
| Gross operating margin | 9900 | €75,633 | €63,883 | -€11,750 | -15.5% |
| Operating profit (loss) | 9901 | €36,185 | €23,426 | -€12,759 | -35.3% |
| Financial income | 75/76B | €7 | €2 | -€5 | -71.0% |
| Recurring financial income | 75 | €7 | €2 | -€5 | -71.0% |
| Financial charges | 65/66B | €5,868 | €5,096 | -€772 | -13.2% |
| Recurring financial charges | 65 | €5,868 | €5,096 | -€772 | -13.2% |
| Profit (loss) for the period before taxes | 9903 | €30,324 | €18,332 | -€11,992 | -39.5% |
| Income taxes | 67/77 | €8,900 | €5,655 | -€3,245 | -36.5% |
| Profit (loss) for the period | 9904 | €21,424 | €12,677 | -€8,747 | -40.8% |
| Profit (loss) for the period to be appropriated | 9905 | €21,424 | €12,677 | -€8,747 | -40.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.