VBK LEX: 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.
VBK LEX
Largest movements
- Tangible fixed assets +€11,858
up €11,858 (+21.3%), from €55,577 to €67,435
of which Other tangible fixed assets: +€25,397
- Trade debts +€29,251
up €29,251 (+95.1%), from €30,753 to €60,004
- Tax, wage and social debts -€23,880
down €23,880 (-27.9%), from €85,681 to €61,801
of which Taxes: -€24,154
- Profit (loss) carried forward +€12,495
up €12,495 (+4.6%), from €272,661 to €285,156
- Debts after one year -€11,114
down €11,114 (-74.7%), from €14,868 to €3,754
- Gross operating margin -€76,157
down €76,157 (-28.3%), from €268,827 to €192,670
- Taxes -€24,433
down €24,433 (-75.6%), from €32,304 to €7,871
- Staff costs +€22,449
up €22,449 (+19.4%), from €115,619 to €138,069
- Other operating charges -€6,182
down €6,182 (-65.3%), from €9,474 to €3,292
- Financial income -€5,665
down €5,665 (-92.1%), from €6,153 to €488
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 | €511,379 | €519,788 | +€8,409 | +1.6% |
| Fixed assets | 21/28 | €55,577 | €67,435 | +€11,858 | +21.3% |
| Tangible fixed assets | 22/27 | €55,577 | €67,435 | +€11,858 | +21.3% |
| Plant, machinery and equipment | 23 | €1,373 | - | -€1,373 | |
| Furniture and vehicles | 24 | €41,453 | €29,286 | -€12,166 | -29.4% |
| Other tangible fixed assets | 26 | €12,752 | €38,149 | +€25,397 | +199.2% |
| Current assets | 29/58 | €455,802 | €452,353 | -€3,448 | -0.8% |
| Amounts receivable within one year | 40/41 | €179,126 | €175,953 | -€3,173 | -1.8% |
| Trade receivables | 40 | €176,029 | €157,294 | -€18,735 | -10.6% |
| Other amounts receivable | 41 | €3,097 | €18,659 | +€15,562 | +502.5% |
| Cash at bank and in hand | 54/58 | €276,676 | €276,401 | -€275 | -0.1% |
| Total equity and liabilities | 10/49 | €511,379 | €519,788 | +€8,409 | +1.6% |
| Equity | 10/15 | €361,232 | €373,727 | +€12,495 | +3.5% |
| Contributions | 10/11 | €57,792 | €57,792 | = | 0.0% |
| Reserves | 13 | €30,779 | €30,779 | = | 0.0% |
| Distributable reserves | 133 | €30,779 | €30,779 | = | 0.0% |
| Profit (loss) carried forward | 14 | €272,661 | €285,156 | +€12,495 | +4.6% |
| Amounts payable | 17/49 | €150,147 | €146,061 | -€4,086 | -2.7% |
| Amounts payable after more than one year | 17 | €14,868 | €3,754 | -€11,114 | -74.7% |
| Financial debts | 170/4 | €14,868 | €3,754 | -€11,114 | -74.7% |
| Amounts payable within one year | 42/48 | €135,279 | €142,307 | +€7,027 | +5.2% |
| Current portion of amounts payable after more than one year | 42 | €10,893 | €11,114 | +€221 | +2.0% |
| Trade debts | 44 | €30,753 | €60,004 | +€29,251 | +95.1% |
| Suppliers | 440/4 | €30,753 | €60,004 | +€29,251 | +95.1% |
| Taxes, remuneration and social security | 45 | €85,681 | €61,801 | -€23,880 | -27.9% |
| Taxes | 450/3 | €77,027 | €52,873 | -€24,154 | -31.4% |
| Remuneration and social security | 454/9 | €8,654 | €8,928 | +€274 | +3.2% |
| Other amounts payable | 47/48 | €7,953 | €9,389 | +€1,436 | +18.1% |
| Remuneration, social security and pensions | 62 | €115,619 | €138,069 | +€22,449 | +19.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,007 | €28,516 | +€3,509 | +14.0% |
| Other operating charges | 640/8 | €9,474 | €3,292 | -€6,182 | -65.3% |
| Gross operating margin | 9900 | €268,827 | €192,670 | -€76,157 | -28.3% |
| Operating profit (loss) | 9901 | €118,726 | €22,793 | -€95,933 | -80.8% |
| Financial income | 75/76B | €6,153 | €488 | -€5,665 | -92.1% |
| Recurring financial income | 75 | €6,153 | €488 | -€5,665 | -92.1% |
| Financial charges | 65/66B | €2,265 | €2,915 | +€650 | +28.7% |
| Recurring financial charges | 65 | €2,265 | €2,915 | +€650 | +28.7% |
| Profit (loss) for the period before taxes | 9903 | €122,615 | €20,366 | -€102,249 | -83.4% |
| Income taxes | 67/77 | €32,304 | €7,871 | -€24,433 | -75.6% |
| Profit (loss) for the period | 9904 | €90,311 | €12,495 | -€77,816 | -86.2% |
| Profit (loss) for the period to be appropriated | 9905 | €90,311 | €12,495 | -€77,816 | -86.2% |
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 2 October 2026 via checked.be.