VCK.VC: 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.
VCK.VC
Largest movements
- Receivables within one year -€58,689
down €58,689 (-51.9%), from €113,106 to €54,417
of which Trade receivables: -€50,200
- Cash +€38,459
up €38,459 (+60.0%), from €64,056 to €102,516
mainly Receivables within one year (+€58,689) and Net result for the year (+€55,863)
- Receivables after one year +€22,569
up €22,569 (+85.3%), from €26,446 to €49,015
- Tangible fixed assets +€20,922
up €20,922 (+25.1%), from €83,295 to €104,217
of which Other tangible fixed assets: +€25,788
- Financial fixed assets -€7,800
down €7,800 (-35.9%), from €21,697 to €13,897
- Reserves +€47,140
up €47,140 (+26.1%), from €180,695 to €227,835
- Debts after one year -€19,654
down €19,654 (-21.5%), from €91,361 to €71,708
- Other debts -€15,130
down €15,130 (-100%), from €15,130 to €0
- Gross operating margin +€40,713
up €40,713 (+63.2%), from €64,427 to €105,140
- Financial charges +€18,340
up €18,340 (+518%), from €3,539 to €21,879
of which Non-recurring financial charges: +€17,500
- Taxes +€4,950
up €4,950 (+32.2%), from €15,378 to €20,328
- Depreciation -€2,481
down €2,481 (-25.6%), from €9,682 to €7,201
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 | €334,188 | €345,767 | +€11,579 | +3.5% |
| Fixed assets | 21/28 | €104,992 | €118,114 | +€13,122 | +12.5% |
| Tangible fixed assets | 22/27 | €83,295 | €104,217 | +€20,922 | +25.1% |
| Land and buildings | 22 | €76,976 | €74,344 | -€2,633 | -3.4% |
| Furniture and vehicles | 24 | €3,917 | €1,684 | -€2,233 | -57.0% |
| Other tangible fixed assets | 26 | €2,402 | €28,190 | +€25,788 | +1,074% |
| Financial fixed assets | 28 | €21,697 | €13,897 | -€7,800 | -35.9% |
| Current assets | 29/58 | €229,196 | €227,653 | -€1,543 | -0.7% |
| Amounts receivable after more than one year | 29 | €26,446 | €49,015 | +€22,569 | +85.3% |
| Other amounts receivable | 291 | €26,446 | €49,015 | +€22,569 | +85.3% |
| Amounts receivable within one year | 40/41 | €113,106 | €54,417 | -€58,689 | -51.9% |
| Trade receivables | 40 | €104,616 | €54,417 | -€50,200 | -48.0% |
| Other amounts receivable | 41 | €8,489 | €0 | -€8,489 | -100% |
| Current investments | 50/53 | €20,000 | €20,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €64,056 | €102,516 | +€38,459 | +60.0% |
| Deferred charges and accrued income | 490/1 | €5,588 | €1,705 | -€3,883 | -69.5% |
| Total equity and liabilities | 10/49 | €334,188 | €345,767 | +€11,579 | +3.5% |
| Equity | 10/15 | €189,024 | €237,026 | +€48,003 | +25.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €180,695 | €227,835 | +€47,140 | +26.1% |
| Distributable reserves | 133 | €180,695 | €227,835 | +€47,140 | +26.1% |
| Profit (loss) carried forward | 14 | €2,129 | €2,991 | +€863 | +40.5% |
| Amounts payable | 17/49 | €145,165 | €108,741 | -€36,424 | -25.1% |
| Amounts payable after more than one year | 17 | €91,361 | €71,708 | -€19,654 | -21.5% |
| Financial debts | 170/4 | €91,361 | €71,708 | -€19,654 | -21.5% |
| Amounts payable within one year | 42/48 | €53,676 | €37,034 | -€16,643 | -31.0% |
| Current portion of amounts payable after more than one year | 42 | €18,909 | €19,654 | +€745 | +3.9% |
| Financial debts | 43 | €134 | €0 | -€134 | -100% |
| Other loans | 439 | €134 | €0 | -€134 | -100% |
| Trade debts | 44 | €354 | €331 | -€23 | -6.4% |
| Suppliers | 440/4 | €354 | €331 | -€23 | -6.4% |
| Taxes, remuneration and social security | 45 | €19,150 | €17,048 | -€2,101 | -11.0% |
| Taxes | 450/3 | €19,150 | €17,048 | -€2,101 | -11.0% |
| Other amounts payable | 47/48 | €15,130 | €0 | -€15,130 | -100% |
| Accrued charges and deferred income | 492/3 | €127 | €0 | -€127 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,682 | €7,201 | -€2,481 | -25.6% |
| Other operating charges | 640/8 | €1,272 | €955 | -€317 | -24.9% |
| Gross operating margin | 9900 | €64,427 | €105,140 | +€40,713 | +63.2% |
| Operating profit (loss) | 9901 | €53,473 | €96,984 | +€43,511 | +81.4% |
| Financial income | 75/76B | €472 | €1,085 | +€613 | +130% |
| Recurring financial income | 75 | €472 | €1,085 | +€613 | +130% |
| Financial charges | 65/66B | €3,539 | €21,879 | +€18,340 | +518% |
| Recurring financial charges | 65 | €3,539 | €4,380 | +€841 | +23.7% |
| Non-recurring financial charges | 66B | - | €17,500 | +€17,500 | |
| Profit (loss) for the period before taxes | 9903 | €50,406 | €76,190 | +€25,784 | +51.2% |
| Income taxes | 67/77 | €15,378 | €20,328 | +€4,950 | +32.2% |
| Profit (loss) for the period | 9904 | €35,029 | €55,863 | +€20,834 | +59.5% |
| Profit (loss) for the period to be appropriated | 9905 | €35,029 | €55,863 | +€20,834 | +59.5% |
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 25 October 2026 via checked.be.