VBK Bulk: 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.
VBK Bulk
Largest movements
- Receivables within one year +€54,233
up €54,233 (+21.0%), from €258,791 to €313,023
of which Other amounts receivable: +€36,490
- Cash -€52,892
down €52,892 (-27.9%), from €189,250 to €136,358
mainly Other debts (-€146,513) and Receivables within one year (-€54,233)
- Tangible fixed assets -€5,747
down €5,747 (-100.0%), from €5,747 to €0
of which Furniture and vehicles: -€3,545
- Profit (loss) carried forward +€152,294
up €152,294, from -€25,752 to €126,542
- Other debts -€146,513
down €146,513 (-55.8%), from €262,565 to €116,052
- Tax, wage and social debts -€36,357
down €36,357 (-27.7%), from €131,016 to €94,659
of which Taxes: -€23,541
- Trade debts +€30,019
up €30,019 (+60.3%), from €49,821 to €79,840
- Gross operating margin +€46,256
up €46,256 (+3.8%), from €1.2m to €1.3m
- Taxes +€45,512
up €45,512 (+774.8%), from €5,874 to €51,386
- Staff costs +€29,858
up €29,858 (+3.4%), from €869,668 to €899,526
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 | €544,185 | €539,180 | -€5,005 | -0.9% |
| Fixed assets | 21/28 | €81,217 | €75,471 | -€5,747 | -7.1% |
| Tangible fixed assets | 22/27 | €5,747 | €0 | -€5,747 | -100.0% |
| Plant, machinery and equipment | 23 | €2,201 | €0 | -€2,201 | -100.0% |
| Furniture and vehicles | 24 | €3,545 | €0 | -€3,545 | -100.0% |
| Financial fixed assets | 28 | €75,471 | €75,471 | = | 0.0% |
| Current assets | 29/58 | €462,967 | €463,710 | +€742 | +0.2% |
| Amounts receivable within one year | 40/41 | €258,791 | €313,023 | +€54,233 | +21.0% |
| Trade receivables | 40 | €258,791 | €276,534 | +€17,743 | +6.9% |
| Other amounts receivable | 41 | - | €36,490 | +€36,490 | |
| Cash at bank and in hand | 54/58 | €189,250 | €136,358 | -€52,892 | -27.9% |
| Deferred charges and accrued income | 490/1 | €14,927 | €14,328 | -€599 | -4.0% |
| Total equity and liabilities | 10/49 | €544,185 | €539,180 | -€5,005 | -0.9% |
| Equity | 10/15 | €92,916 | €245,210 | +€152,294 | +163.9% |
| Contributions | 10/11 | €118,668 | €118,668 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€25,752 | €126,542 | +€152,294 | |
| Amounts payable | 17/49 | €451,269 | €293,970 | -€157,298 | -34.9% |
| Amounts payable within one year | 42/48 | €443,402 | €290,551 | -€152,851 | -34.5% |
| Trade debts | 44 | €49,821 | €79,840 | +€30,019 | +60.3% |
| Suppliers | 440/4 | €49,821 | €79,840 | +€30,019 | +60.3% |
| Taxes, remuneration and social security | 45 | €131,016 | €94,659 | -€36,357 | -27.7% |
| Taxes | 450/3 | €30,646 | €7,104 | -€23,541 | -76.8% |
| Remuneration and social security | 454/9 | €100,370 | €87,555 | -€12,815 | -12.8% |
| Other amounts payable | 47/48 | €262,565 | €116,052 | -€146,513 | -55.8% |
| Accrued charges and deferred income | 492/3 | €7,867 | €3,419 | -€4,448 | -56.5% |
| Remuneration, social security and pensions | 62 | €869,668 | €899,526 | +€29,858 | +3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,899 | €2,201 | -€4,697 | -68.1% |
| Other operating charges | 640/8 | €154,822 | €159,873 | +€5,050 | +3.3% |
| Gross operating margin | 9900 | €1,223,512 | €1,269,768 | +€46,256 | +3.8% |
| Operating profit (loss) | 9901 | €192,123 | €208,169 | +€16,046 | +8.4% |
| Financial income | 75/76B | €939 | €39 | -€899 | -95.8% |
| Recurring financial income | 75 | €939 | €39 | -€899 | -95.8% |
| Financial charges | 65/66B | €10,016 | €4,528 | -€5,489 | -54.8% |
| Recurring financial charges | 65 | €10,016 | €4,528 | -€5,489 | -54.8% |
| Profit (loss) for the period before taxes | 9903 | €183,045 | €203,680 | +€20,635 | +11.3% |
| Income taxes | 67/77 | €5,874 | €51,386 | +€45,512 | +774.8% |
| Profit (loss) for the period | 9904 | €177,171 | €152,294 | -€24,877 | -14.0% |
| Profit (loss) for the period to be appropriated | 9905 | €177,171 | €152,294 | -€24,877 | -14.0% |
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 10 October 2026 via checked.be.