VAKIM II: 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.
VAKIM II
Largest movements
- Cash -€83,091
down €83,091 (-91.0%), from €91,353 to €8,262
mainly Net result for the year (-€85,551) and Receivables within one year (-€68,810)
- Other debts +€93,882
up €93,882 (+4.9%), from €1.9m to €2.0m
- Profit (loss) carried forward -€85,551
down €85,551 (-6.2%), from €1.4m to €1.3m
- Depreciation +€23,348
up €23,348 (+141%), from €16,575 to €39,922
- Gross operating margin -€5,217
down €5,217 (-4.4%), from -€118,188 to -€123,406
- Taxes +€4,336
up €4,336, from -€4,281 to €55
- Financial income +€3,048
up €3,048 (+3.9%), from €77,758 to €80,807
of which Financial income: +€10,140
- Financial charges -€1,357
down €1,357 (-73.3%), from €1,851 to €494
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 | €7,988,226 | €8,001,251 | +€13,025 | +0.2% |
| Fixed assets | 21/28 | €2,248,579 | €2,232,495 | -€16,084 | -0.7% |
| Tangible fixed assets | 22/27 | €21,511 | €5,427 | -€16,084 | -74.8% |
| Plant, machinery and equipment | 23 | €2,908 | €1,706 | -€1,201 | -41.3% |
| Furniture and vehicles | 24 | €18,604 | €3,721 | -€14,883 | -80.0% |
| Financial fixed assets | 28 | €2,227,068 | €2,227,068 | = | 0.0% |
| Current assets | 29/58 | €5,739,647 | €5,768,756 | +€29,109 | +0.5% |
| Amounts receivable after more than one year | 29 | €1,673,838 | €1,650,000 | -€23,838 | -1.4% |
| Other amounts receivable | 291 | €1,673,838 | €1,650,000 | -€23,838 | -1.4% |
| Amounts receivable within one year | 40/41 | €3,775,336 | €3,844,146 | +€68,810 | +1.8% |
| Other amounts receivable | 41 | €3,775,336 | €3,844,146 | +€68,810 | +1.8% |
| Cash at bank and in hand | 54/58 | €91,353 | €8,262 | -€83,091 | -91.0% |
| Deferred charges and accrued income | 490/1 | €199,120 | €266,348 | +€67,228 | +33.8% |
| Total equity and liabilities | 10/49 | €7,988,226 | €8,001,251 | +€13,025 | +0.2% |
| Equity | 10/15 | €6,070,843 | €5,985,292 | -€85,551 | -1.4% |
| Contributions | 10/11 | €46,190 | €46,190 | = | 0.0% |
| Revaluation surpluses | 12 | €594 | €594 | = | 0.0% |
| Reserves | 13 | €4,649,633 | €4,649,633 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,619 | €4,619 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,619 | €4,619 | = | 0.0% |
| Distributable reserves | 133 | €4,645,014 | €4,645,014 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,374,426 | €1,288,875 | -€85,551 | -6.2% |
| Amounts payable | 17/49 | €1,917,383 | €2,015,960 | +€98,576 | +5.1% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €1,917,383 | €2,015,960 | +€98,576 | +5.1% |
| Trade debts | 44 | €0 | €2,931 | +€2,931 | |
| Suppliers | 440/4 | €0 | €2,931 | +€2,931 | |
| Taxes, remuneration and social security | 45 | €109 | €1,873 | +€1,764 | +1,619% |
| Taxes | 450/3 | €109 | €1,873 | +€1,764 | +1,619% |
| Other amounts payable | 47/48 | €1,917,274 | €2,011,156 | +€93,882 | +4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,575 | €39,922 | +€23,348 | +141% |
| Other operating charges | 640/8 | €2,434 | €2,481 | +€47 | +1.9% |
| Gross operating margin | 9900 | -€118,188 | -€123,406 | -€5,217 | -4.4% |
| Operating profit (loss) | 9901 | -€137,197 | -€165,809 | -€28,612 | -20.9% |
| Financial income | 75/76B | €77,758 | €80,807 | +€3,048 | +3.9% |
| Recurring financial income | 75 | €70,667 | €80,807 | +€10,140 | +14.3% |
| Non-recurring financial income | 76B | €7,091 | €0 | -€7,091 | -100% |
| Financial charges | 65/66B | €1,851 | €494 | -€1,357 | -73.3% |
| Recurring financial charges | 65 | €1,851 | €494 | -€1,357 | -73.3% |
| Profit (loss) for the period before taxes | 9903 | -€61,290 | -€85,496 | -€24,207 | -39.5% |
| Income taxes | 67/77 | -€4,281 | €55 | +€4,336 | |
| Profit (loss) for the period | 9904 | -€57,009 | -€85,551 | -€28,543 | -50.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€57,009 | -€85,551 | -€28,543 | -50.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.