VBK Energy: 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 Energy
Largest movements
- Tangible fixed assets -€345,077
down €345,077 (-12.2%), from €2.8m to €2.5m
- Debts after one year -€256,947
down €256,947 (-18.0%), from €1.4m to €1.2m
- Other debts -€144,687
down €144,687 (-35.1%), from €412,043 to €267,356
- Reserves +€140,945
up €140,945 (+55.1%), from €255,658 to €396,603
- Current portion of long-term debt -€71,790
down €71,790 (-21.8%), from €328,736 to €256,947
- Gross operating margin +€59,046
up €59,046 (+12.8%), from €462,936 to €521,983
- Financial charges -€12,797
down €12,797 (-25.6%), from €49,897 to €37,100
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 | €2,989,995 | €2,650,204 | -€339,791 | -11.4% |
| Fixed assets | 21/28 | €2,830,607 | €2,485,530 | -€345,077 | -12.2% |
| Tangible fixed assets | 22/27 | €2,830,607 | €2,485,530 | -€345,077 | -12.2% |
| Plant, machinery and equipment | 23 | €2,830,607 | €2,485,530 | -€345,077 | -12.2% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €159,388 | €164,674 | +€5,286 | +3.3% |
| Amounts receivable within one year | 40/41 | €66,226 | €84,264 | +€18,038 | +27.2% |
| Trade receivables | 40 | €66,226 | €84,264 | +€18,038 | +27.2% |
| Cash at bank and in hand | 54/58 | €93,162 | €80,410 | -€12,752 | -13.7% |
| Total equity and liabilities | 10/49 | €2,989,995 | €2,650,204 | -€339,791 | -11.4% |
| Equity | 10/15 | €778,317 | €916,739 | +€138,422 | +17.8% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Reserves | 13 | €255,658 | €396,603 | +€140,945 | +55.1% |
| Distributable reserves | 133 | €255,658 | €396,603 | +€140,945 | +55.1% |
| Investment grants | 15 | €22,659 | €20,136 | -€2,523 | -11.1% |
| Amounts payable | 17/49 | €2,211,678 | €1,733,465 | -€478,213 | -21.6% |
| Amounts payable after more than one year | 17 | €1,427,122 | €1,170,175 | -€256,947 | -18.0% |
| Financial debts | 170/4 | €1,427,122 | €1,170,175 | -€256,947 | -18.0% |
| Amounts payable within one year | 42/48 | €769,243 | €551,188 | -€218,055 | -28.3% |
| Current portion of amounts payable after more than one year | 42 | €328,736 | €256,947 | -€71,790 | -21.8% |
| Trade debts | 44 | €8,606 | €756 | -€7,851 | -91.2% |
| Suppliers | 440/4 | €8,606 | €756 | -€7,851 | -91.2% |
| Taxes, remuneration and social security | 45 | €19,857 | €26,129 | +€6,272 | +31.6% |
| Taxes | 450/3 | €19,857 | €26,129 | +€6,272 | +31.6% |
| Other amounts payable | 47/48 | €412,043 | €267,356 | -€144,687 | -35.1% |
| Accrued charges and deferred income | 492/3 | €15,313 | €12,102 | -€3,211 | -21.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €345,077 | €345,077 | = | 0.0% |
| Other operating charges | 640/8 | €1,489 | €1,383 | -€106 | -7.1% |
| Gross operating margin | 9900 | €462,936 | €521,983 | +€59,046 | +12.8% |
| Operating profit (loss) | 9901 | €116,371 | €175,523 | +€59,152 | +50.8% |
| Financial income | 75/76B | €4,617 | €2,523 | -€2,094 | -45.4% |
| Recurring financial income | 75 | €4,617 | €2,523 | -€2,094 | -45.4% |
| Financial charges | 65/66B | €49,897 | €37,100 | -€12,797 | -25.6% |
| Recurring financial charges | 65 | €49,897 | €37,100 | -€12,797 | -25.6% |
| Profit (loss) for the period before taxes | 9903 | €71,090 | €140,945 | +€69,855 | +98.3% |
| Profit (loss) for the period | 9904 | €71,090 | €140,945 | +€69,855 | +98.3% |
| Profit (loss) for the period to be appropriated | 9905 | €71,090 | €140,945 | +€69,855 | +98.3% |
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 13 October 2026 via checked.be.