VI.KO: 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.
VI.KO
Largest movements
- Receivables within one year -€45,032
down €45,032 (-58.9%), from €76,500 to €31,468
of which Trade receivables: -€49,776
- Cash -€4,344
down €4,344 (-96.7%), from €4,492 to €147
mainly Net result for the year (-€33,670) and Tax, wage and social debts (-€10,754)
- Tangible fixed assets -€1,464
down €1,464 (-23.5%), from €6,221 to €4,757
of which Plant, machinery and equipment: -€905
- Profit (loss) carried forward -€33,670
down €33,670, from €18,404 to -€15,266
- Tax, wage and social debts -€10,754
down €10,754 (-91.9%), from €11,700 to €946
- Trade debts -€8,881
down €8,881 (-27.4%), from €32,369 to €23,488
- Other debts +€2,106
up €2,106 (+13.4%), from €15,660 to €17,766
- Gross operating margin -€30,396
down €30,396, from €21,868 to -€8,529
- Other operating charges +€11,661
up €11,661 (+122%), from €9,587 to €21,249
- Financial charges -€4,475
down €4,475 (-63.7%), from €7,026 to €2,550
- Taxes -€1,634
down €1,634, from €1,118 to -€516
- Depreciation -€1,420
down €1,420 (-40.6%), from €3,497 to €2,077
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 | €91,701 | €41,102 | -€50,599 | -55.2% |
| Fixed assets | 21/28 | €8,903 | €7,514 | -€1,389 | -15.6% |
| Tangible fixed assets | 22/27 | €6,221 | €4,757 | -€1,464 | -23.5% |
| Plant, machinery and equipment | 23 | €2,438 | €1,533 | -€905 | -37.1% |
| Furniture and vehicles | 24 | €2,221 | €2,053 | -€168 | -7.6% |
| Other tangible fixed assets | 26 | €1,561 | €1,171 | -€390 | -25.0% |
| Financial fixed assets | 28 | €2,682 | €2,757 | +€75 | +2.8% |
| Current assets | 29/58 | €82,798 | €33,588 | -€49,210 | -59.4% |
| Stocks and contracts in progress | 3 | €604 | €106 | -€498 | -82.4% |
| Stocks | 30/36 | €604 | €106 | -€498 | -82.4% |
| Amounts receivable within one year | 40/41 | €76,500 | €31,468 | -€45,032 | -58.9% |
| Trade receivables | 40 | €72,689 | €22,913 | -€49,776 | -68.5% |
| Other amounts receivable | 41 | €3,811 | €8,555 | +€4,744 | +124% |
| Cash at bank and in hand | 54/58 | €4,492 | €147 | -€4,344 | -96.7% |
| Deferred charges and accrued income | 490/1 | €1,202 | €1,866 | +€665 | +55.3% |
| Total equity and liabilities | 10/49 | €91,701 | €41,102 | -€50,599 | -55.2% |
| Equity | 10/15 | €31,972 | -€1,698 | -€33,670 | |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €12,568 | €12,568 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,564 | €6,564 | = | 0.0% |
| Distributable reserves | 133 | €6,004 | €6,004 | = | 0.0% |
| Profit (loss) carried forward | 14 | €18,404 | -€15,266 | -€33,670 | |
| Amounts payable | 17/49 | €59,729 | €42,800 | -€16,929 | -28.3% |
| Amounts payable within one year | 42/48 | €59,729 | €42,200 | -€17,529 | -29.3% |
| Trade debts | 44 | €32,369 | €23,488 | -€8,881 | -27.4% |
| Suppliers | 440/4 | €32,369 | €23,488 | -€8,881 | -27.4% |
| Taxes, remuneration and social security | 45 | €11,700 | €946 | -€10,754 | -91.9% |
| Taxes | 450/3 | €11,700 | €946 | -€10,754 | -91.9% |
| Other amounts payable | 47/48 | €15,660 | €17,766 | +€2,106 | +13.4% |
| Accrued charges and deferred income | 492/3 | - | €600 | +€600 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,497 | €2,077 | -€1,420 | -40.6% |
| Other operating charges | 640/8 | €9,587 | €21,249 | +€11,661 | +122% |
| Gross operating margin | 9900 | €21,868 | -€8,529 | -€30,396 | |
| Operating profit (loss) | 9901 | €8,784 | -€31,854 | -€40,638 | |
| Financial income | 75/76B | €388 | €219 | -€169 | -43.6% |
| Recurring financial income | 75 | €388 | €219 | -€169 | -43.6% |
| Financial charges | 65/66B | €7,026 | €2,550 | -€4,475 | -63.7% |
| Recurring financial charges | 65 | €7,026 | €2,550 | -€4,475 | -63.7% |
| Profit (loss) for the period before taxes | 9903 | €2,146 | -€34,186 | -€36,331 | |
| Income taxes | 67/77 | €1,118 | -€516 | -€1,634 | |
| Profit (loss) for the period | 9904 | €1,027 | -€33,670 | -€34,697 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,027 | -€33,670 | -€34,697 |
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 14 October 2026 via checked.be.