Vakor: 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.
Vakor
Largest movements
- Receivables within one year +€156,137
up €156,137 (+48.9%), from €319,281 to €475,418
of which Trade receivables: +€147,456
- Cash -€57,508
down €57,508 (-94.9%), from €60,592 to €3,084
mainly Receivables within one year (-€156,137) and Contributions, distributions and other (-€5,500)
- Stocks and contracts -€8,332
down €8,332 (-4.0%), from €209,208 to €200,876
- Tax, wage and social debts +€42,064
up €42,064 (+22.8%), from €184,649 to €226,713
of which Taxes: +€36,577
- Reserves +€33,901
up €33,901 (+14.6%), from €232,030 to €265,931
- Other debts +€9,391
new in 2025: €9,391
- Gross operating margin +€90,300
up €90,300 (+31.1%), from €289,975 to €380,275
- Taxes +€67,806
up €67,806 (+59.0%), from €114,980 to €182,786
- Other operating charges +€56,427
up €56,427 (+3055.3%), from €1,847 to €58,274
- Financial charges +€29,543
up €29,543 (+10113.1%), from €292 to €29,835
- Staff costs -€7,793
down €7,793 (-9.9%), from €78,839 to €71,046
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 | €641,951 | €730,451 | +€88,500 | +13.8% |
| Fixed assets | 21/28 | €51,300 | €50,903 | -€396 | -0.8% |
| Tangible fixed assets | 22/27 | €51,052 | €50,655 | -€396 | -0.8% |
| Land and buildings | 22 | €49,665 | €50,367 | +€702 | +1.4% |
| Furniture and vehicles | 24 | €1,387 | €288 | -€1,098 | -79.2% |
| Financial fixed assets | 28 | €248 | €248 | = | 0.0% |
| Current assets | 29/58 | €590,651 | €679,548 | +€88,897 | +15.1% |
| Stocks and contracts in progress | 3 | €209,208 | €200,876 | -€8,332 | -4.0% |
| Contracts in progress | 37 | €209,208 | €200,876 | -€8,332 | -4.0% |
| Amounts receivable within one year | 40/41 | €319,281 | €475,418 | +€156,137 | +48.9% |
| Trade receivables | 40 | €52,466 | €199,922 | +€147,456 | +281.1% |
| Other amounts receivable | 41 | €266,815 | €275,496 | +€8,681 | +3.3% |
| Cash at bank and in hand | 54/58 | €60,592 | €3,084 | -€57,508 | -94.9% |
| Deferred charges and accrued income | 490/1 | €1,570 | €170 | -€1,400 | -89.2% |
| Total equity and liabilities | 10/49 | €641,951 | €730,451 | +€88,500 | +13.8% |
| Equity | 10/15 | €252,481 | €286,382 | +€33,901 | +13.4% |
| Contributions | 10/11 | €20,451 | €20,451 | = | 0.0% |
| Reserves | 13 | €232,030 | €265,931 | +€33,901 | +14.6% |
| Distributable reserves | 133 | €232,030 | €265,931 | +€33,901 | +14.6% |
| Amounts payable | 17/49 | €389,470 | €444,069 | +€54,599 | +14.0% |
| Amounts payable within one year | 42/48 | €389,470 | €442,881 | +€53,411 | +13.7% |
| Trade debts | 44 | €204,821 | €206,776 | +€1,955 | +1.0% |
| Suppliers | 440/4 | €204,821 | €206,776 | +€1,955 | +1.0% |
| Taxes, remuneration and social security | 45 | €184,649 | €226,713 | +€42,064 | +22.8% |
| Taxes | 450/3 | €175,726 | €212,304 | +€36,577 | +20.8% |
| Remuneration and social security | 454/9 | €8,923 | €14,410 | +€5,487 | +61.5% |
| Other amounts payable | 47/48 | - | €9,391 | +€9,391 | |
| Accrued charges and deferred income | 492/3 | - | €1,189 | +€1,189 | |
| Remuneration, social security and pensions | 62 | €78,839 | €71,046 | -€7,793 | -9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,852 | €1,805 | -€48 | -2.6% |
| Other operating charges | 640/8 | €1,847 | €58,274 | +€56,427 | +3055.3% |
| Gross operating margin | 9900 | €289,975 | €380,275 | +€90,300 | +31.1% |
| Operating profit (loss) | 9901 | €207,436 | €249,150 | +€41,713 | +20.1% |
| Financial income | 75/76B | €2,377 | €2,873 | +€496 | +20.9% |
| Recurring financial income | 75 | €2,377 | €2,873 | +€496 | +20.9% |
| Financial charges | 65/66B | €292 | €29,835 | +€29,543 | +10113.1% |
| Recurring financial charges | 65 | €292 | €29,835 | +€29,543 | +10113.1% |
| Profit (loss) for the period before taxes | 9903 | €209,521 | €222,187 | +€12,666 | +6.0% |
| Income taxes | 67/77 | €114,980 | €182,786 | +€67,806 | +59.0% |
| Profit (loss) for the period | 9904 | €94,542 | €39,401 | -€55,141 | -58.3% |
| Profit (loss) for the period to be appropriated | 9905 | €94,542 | €39,401 | -€55,141 | -58.3% |
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 11 October 2026 via checked.be.