VAKH: 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.
VAKH
Largest movements
- Stocks and contracts +€645,832
up €645,832 (+2.6%), from €25.1m to €25.7m
- Other debts +€824,600
up €824,600 (+23.0%), from €3.6m to €4.4m
- Financial charges -€918,404
down €918,404 (-84.7%), from €1.1m to €166,181
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 | €25,086,503 | €25,734,391 | +€647,887 | +2.6% |
| Current assets | 29/58 | €25,086,503 | €25,734,391 | +€647,887 | +2.6% |
| Stocks and contracts in progress | 3 | €25,085,002 | €25,730,835 | +€645,832 | +2.6% |
| Stocks | 30/36 | €25,085,002 | €25,730,835 | +€645,832 | +2.6% |
| Property held for sale | 35 | €25,085,002 | €25,730,835 | +€645,832 | +2.6% |
| Cash at bank and in hand | 54/58 | €1,501 | €3,556 | +€2,055 | +136.9% |
| Total equity and liabilities | 10/49 | €25,086,503 | €25,734,391 | +€647,887 | +2.6% |
| Equity | 10/15 | €4,001,109 | €3,824,303 | -€176,805 | -4.4% |
| Contributions | 10/11 | €6,000,000 | €6,000,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,998,891 | -€2,175,697 | -€176,805 | -8.8% |
| Amounts payable | 17/49 | €21,085,395 | €21,910,088 | +€824,693 | +3.9% |
| Amounts payable within one year | 42/48 | €21,085,395 | €21,910,088 | +€824,693 | +3.9% |
| Financial debts | 43 | €17,500,000 | €17,500,000 | = | 0.0% |
| Credit institutions | 430/8 | €17,500,000 | €17,500,000 | = | 0.0% |
| Trade debts | 44 | €2,194 | €2,287 | +€93 | +4.2% |
| Suppliers | 440/4 | €2,194 | €2,287 | +€93 | +4.2% |
| Other amounts payable | 47/48 | €3,583,201 | €4,407,801 | +€824,600 | +23.0% |
| Operating charges | 60/66A | €11,935 | €10,624 | -€1,311 | -11.0% |
| Goods for resale, raw materials and consumables | 60 | €0 | €0 | = | |
| Purchases | 600/8 | €4,875 | €5,002 | +€127 | +2.6% |
| Change in stocks: decrease (increase) | 609 | -€4,875 | -€5,002 | -€127 | -2.6% |
| Services and other goods | 61 | €5,134 | €3,612 | -€1,522 | -29.6% |
| Other operating charges | 640/8 | €6,800 | €7,012 | +€211 | +3.1% |
| Operating profit (loss) | 9901 | -€11,935 | -€10,624 | +€1,311 | +11.0% |
| Financial charges | 65/66B | €1,084,585 | €166,181 | -€918,404 | -84.7% |
| Recurring financial charges | 65 | €1,084,585 | €166,181 | -€918,404 | -84.7% |
| Debt charges | 650 | €1,084,081 | €165,600 | -€918,481 | -84.7% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | €0 | - | = | |
| Other financial charges | 652/9 | €504 | €581 | +€78 | +15.4% |
| Profit (loss) for the period before taxes | 9903 | -€1,096,520 | -€176,805 | +€919,714 | +83.9% |
| Profit (loss) for the period | 9904 | -€1,096,520 | -€176,805 | +€919,714 | +83.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,096,520 | -€176,805 | +€919,714 | +83.9% |
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 4 October 2026 via checked.be.