V&K GROUP: 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&K GROUP
Largest movements
- Receivables within one year +€1.1m
up €1.1m (+412%), from €261,594 to €1.3m
of which Trade receivables: +€1.1m
- Tangible fixed assets +€120,326
up €120,326 (+39.6%), from €304,121 to €424,446
of which Land and buildings: +€95,991
- Cash +€61,524
up €61,524 (+234%), from €26,255 to €87,779
mainly Trade debts (+€960,320) and Contributions, distributions and other (+€171,940)
- Deferred charges and accrued income +€20,337
new in 2025: €20,337
- Trade debts +€960,320
up €960,320 (+466%), from €206,098 to €1.2m
of which Suppliers: +€925,987
- Profit (loss) carried forward +€303,090
up €303,090 (+128%), from €236,099 to €539,189
- Advances received +€80,713
new in 2025: €80,713
- Other debts -€75,902
no longer reported in 2025 (was €75,902)
- Purchases and services -€2.1m
no longer reported in 2025 (was €2.1m)
- Gross operating margin +€199,072
up €199,072 (+135%), from €147,344 to €346,416
- Taxes +€103,772
up €103,772 (+679%), from €15,280 to €119,052
- Other operating charges +€23,871
up €23,871 (+580%), from €4,117 to €27,989
- Write-downs +€20,000
new in 2025: €20,000
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 | €601,828 | €1,895,619 | +€1.3m | +215% |
| Fixed assets | 21/28 | €313,979 | €447,572 | +€133,593 | +42.5% |
| Tangible fixed assets | 22/27 | €304,121 | €424,446 | +€120,326 | +39.6% |
| Land and buildings | 22 | €217,688 | €313,679 | +€95,991 | +44.1% |
| Plant, machinery and equipment | 23 | €14,135 | €21,519 | +€7,384 | +52.2% |
| Furniture and vehicles | 24 | €72,298 | €58,283 | -€14,015 | -19.4% |
| Leasing and similar rights | 25 | - | €30,965 | +€30,965 | |
| Financial fixed assets | 28 | €9,859 | €23,126 | +€13,267 | +135% |
| Current assets | 29/58 | €287,849 | €1,448,047 | +€1.2m | +403% |
| Amounts receivable within one year | 40/41 | €261,594 | €1,339,931 | +€1.1m | +412% |
| Trade receivables | 40 | €155,055 | €1,223,819 | +€1.1m | +689% |
| Other amounts receivable | 41 | €106,539 | €116,112 | +€9,573 | +9.0% |
| Cash at bank and in hand | 54/58 | €26,255 | €87,779 | +€61,524 | +234% |
| Deferred charges and accrued income | 490/1 | - | €20,337 | +€20,337 | |
| Total equity and liabilities | 10/49 | €601,828 | €1,895,619 | +€1.3m | +215% |
| Equity | 10/15 | €241,099 | €544,189 | +€303,090 | +126% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €236,099 | €539,189 | +€303,090 | +128% |
| Amounts payable | 17/49 | €360,729 | €1,351,429 | +€990,700 | +275% |
| Amounts payable after more than one year | 17 | - | €16,267 | +€16,267 | |
| Financial debts | 170/4 | - | €16,267 | +€16,267 | |
| Amounts payable within one year | 42/48 | €360,729 | €1,335,163 | +€974,434 | +270% |
| Current portion of amounts payable after more than one year | 42 | - | €8,000 | +€8,000 | |
| Financial debts | 43 | - | €14,555 | +€14,555 | |
| Credit institutions | 430/8 | - | €14,555 | +€14,555 | |
| Trade debts | 44 | €206,098 | €1,166,418 | +€960,320 | +466% |
| Suppliers | 440/4 | €199,498 | €1,125,485 | +€925,987 | +464% |
| Bills of exchange payable | 441 | €6,600 | €40,933 | +€34,333 | +520% |
| Advances received on contracts in progress | 46 | - | €80,713 | +€80,713 | |
| Taxes, remuneration and social security | 45 | €78,729 | €65,476 | -€13,253 | -16.8% |
| Taxes | 450/3 | €62,703 | €65,342 | +€2,639 | +4.2% |
| Remuneration and social security | 454/9 | €16,026 | €134 | -€15,892 | -99.2% |
| Other amounts payable | 47/48 | €75,902 | - | -€75,902 | |
| Goods, raw materials, services and sundry goods | 60/61 | €2,076,866 | - | -€2.1m | |
| Remuneration, social security and pensions | 62 | €18,262 | €5,197 | -€13,065 | -71.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,341 | €44,149 | -€14,192 | -24.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €20,000 | +€20,000 | |
| Other operating charges | 640/8 | €4,117 | €27,989 | +€23,871 | +580% |
| Gross operating margin | 9900 | €147,344 | €346,416 | +€199,072 | +135% |
| Operating profit (loss) | 9901 | €66,623 | €249,082 | +€182,458 | +274% |
| Financial income | 75/76B | €2,832 | €5,030 | +€2,198 | +77.6% |
| Recurring financial income | 75 | €2,832 | €5,030 | +€2,198 | +77.6% |
| Financial charges | 65/66B | €3,053 | €3,908 | +€856 | +28.0% |
| Recurring financial charges | 65 | €3,053 | €3,908 | +€856 | +28.0% |
| Profit (loss) for the period before taxes | 9903 | €66,402 | €250,203 | +€183,800 | +277% |
| Income taxes | 67/77 | €15,280 | €119,052 | +€103,772 | +679% |
| Profit (loss) for the period | 9904 | €51,122 | €131,150 | +€80,029 | +157% |
| Profit (loss) for the period to be appropriated | 9905 | €51,122 | €131,150 | +€80,029 | +157% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.