VAK: what changed
VAK
Largest movements
- Cash -€38,254
down €38,254 (-39.6%), from €96,694 to €58,440
mainly Other debts (-€21,229) and Net result for the year (-€7,107)
- Receivables within one year +€4,458
up €4,458 (+162%), from €2,750 to €7,208
of which Other amounts receivable: +€2,385
- Other debts -€21,229
down €21,229 (-44.1%), from €48,130 to €26,901
- Reserves -€7,107
down €7,107 (-55.6%), from €12,771 to €5,664
- Tax, wage and social debts -€5,115
no longer reported in 2025 (was €5,115)
- Advances received -€3,328
no longer reported in 2025 (was €3,328)
- Accrued charges and deferred income +€2,479
up €2,479 (+16.3%), from €15,221 to €17,701
- Gross operating margin -€32,366
down €32,366, from €31,409 to -€957
- Taxes -€2,467
down €2,467 (-75.0%), from €3,289 to €822
- Financial charges +€2,462
up €2,462 (+1,055%), from €234 to €2,696
- Depreciation +€1,146
up €1,146 (+118%), from €968 to €2,114
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €103,759 | €69,899 | -€33,860 | -32.6% |
| Fixed assets | 21/28 | €4,315 | €4,151 | -€164 | -3.8% |
| Tangible fixed assets | 22/27 | €4,315 | €4,151 | -€164 | -3.8% |
| Plant, machinery and equipment | 23 | €2,453 | €2,950 | +€497 | +20.3% |
| Furniture and vehicles | 24 | €1,862 | €1,201 | -€661 | -35.5% |
| Current assets | 29/58 | €99,444 | €65,749 | -€33,696 | -33.9% |
| Amounts receivable within one year | 40/41 | €2,750 | €7,208 | +€4,458 | +162% |
| Trade receivables | 40 | €2,750 | €4,823 | +€2,073 | +75.4% |
| Other amounts receivable | 41 | - | €2,385 | +€2,385 | |
| Cash at bank and in hand | 54/58 | €96,694 | €58,440 | -€38,254 | -39.6% |
| Deferred charges and accrued income | 490/1 | - | €101 | +€101 | |
| Total equity and liabilities | 10/49 | €103,759 | €69,899 | -€33,860 | -32.6% |
| Equity | 10/15 | €31,371 | €24,264 | -€7,107 | -22.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €12,771 | €5,664 | -€7,107 | -55.6% |
| Distributable reserves | 133 | €12,771 | €5,664 | -€7,107 | -55.6% |
| Amounts payable | 17/49 | €72,388 | €45,635 | -€26,753 | -37.0% |
| Amounts payable within one year | 42/48 | €57,167 | €27,935 | -€29,233 | -51.1% |
| Trade debts | 44 | €594 | €1,033 | +€439 | +73.9% |
| Suppliers | 440/4 | €594 | €1,033 | +€439 | +73.9% |
| Advances received on contracts in progress | 46 | €3,328 | - | -€3,328 | |
| Taxes, remuneration and social security | 45 | €5,115 | - | -€5,115 | |
| Taxes | 450/3 | €5,115 | - | -€5,115 | |
| Other amounts payable | 47/48 | €48,130 | €26,901 | -€21,229 | -44.1% |
| Accrued charges and deferred income | 492/3 | €15,221 | €17,701 | +€2,479 | +16.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €968 | €2,114 | +€1,146 | +118% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | €31,409 | -€957 | -€32,366 | |
| Operating profit (loss) | 9901 | €29,936 | -€3,590 | -€33,526 | |
| Financial income | 75/76B | €1 | €2 | +€1 | +45.6% |
| Recurring financial income | 75 | €1 | €2 | +€1 | +45.6% |
| Financial charges | 65/66B | €234 | €2,696 | +€2,462 | +1,055% |
| Recurring financial charges | 65 | €234 | €2,696 | +€2,462 | +1,055% |
| Profit (loss) for the period before taxes | 9903 | €29,704 | -€6,284 | -€35,988 | |
| Income taxes | 67/77 | €3,289 | €822 | -€2,467 | -75.0% |
| Profit (loss) for the period | 9904 | €26,415 | -€7,107 | -€33,521 | |
| Profit (loss) for the period to be appropriated | 9905 | €26,415 | -€7,107 | -€33,521 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.