VIKEL: 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.
VIKEL
Largest movements
- Receivables within one year +€82,639
up €82,639 (+199%), from €41,508 to €124,147
of which Trade receivables: +€48,959
- Cash +€25,459
up €25,459 (+39.3%), from €64,719 to €90,178
mainly Trade debts (+€78,731) and Net result for the year (+€73,088)
- Tangible fixed assets -€5,281
down €5,281 (-22.8%), from €23,181 to €17,899
- Trade debts +€78,731
up €78,731 (+423%), from €18,593 to €97,323
- Other debts +€26,415
up €26,415 (+73.2%), from €36,106 to €62,521
- Profit (loss) carried forward -€10,733
down €10,733 (-22.0%), from €48,821 to €38,088
- Tax, wage and social debts +€8,404
up €8,404 (+34.0%), from €24,689 to €33,093
of which Taxes: +€8,099
- Gross operating margin +€36,067
up €36,067 (+32.4%), from €111,249 to €147,316
- Taxes +€9,164
up €9,164 (+48.9%), from €18,739 to €27,903
- Depreciation +€2,055
up €2,055 (+63.7%), from €3,226 to €5,281
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 | €130,208 | €233,025 | +€102,816 | +79.0% |
| Fixed assets | 21/28 | €23,981 | €18,699 | -€5,281 | -22.0% |
| Tangible fixed assets | 22/27 | €23,181 | €17,899 | -€5,281 | -22.8% |
| Plant, machinery and equipment | 23 | €23,181 | €17,899 | -€5,281 | -22.8% |
| Financial fixed assets | 28 | €800 | €800 | = | 0.0% |
| Current assets | 29/58 | €106,228 | €214,325 | +€108,098 | +102% |
| Amounts receivable within one year | 40/41 | €41,508 | €124,147 | +€82,639 | +199% |
| Trade receivables | 40 | €30,508 | €79,468 | +€48,959 | +160% |
| Other amounts receivable | 41 | €11,000 | €44,679 | +€33,679 | +306% |
| Cash at bank and in hand | 54/58 | €64,719 | €90,178 | +€25,459 | +39.3% |
| Total equity and liabilities | 10/49 | €130,208 | €233,025 | +€102,816 | +79.0% |
| Equity | 10/15 | €50,821 | €40,088 | -€10,733 | -21.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €48,821 | €38,088 | -€10,733 | -22.0% |
| Amounts payable | 17/49 | €79,387 | €192,937 | +€113,550 | +143% |
| Amounts payable within one year | 42/48 | €79,387 | €192,937 | +€113,550 | +143% |
| Trade debts | 44 | €18,593 | €97,323 | +€78,731 | +423% |
| Suppliers | 440/4 | €18,593 | €97,323 | +€78,731 | +423% |
| Taxes, remuneration and social security | 45 | €24,689 | €33,093 | +€8,404 | +34.0% |
| Taxes | 450/3 | €19,804 | €27,903 | +€8,099 | +40.9% |
| Remuneration and social security | 454/9 | €4,885 | €5,190 | +€305 | +6.2% |
| Other amounts payable | 47/48 | €36,106 | €62,521 | +€26,415 | +73.2% |
| Remuneration, social security and pensions | 62 | €35,747 | €36,226 | +€479 | +1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,226 | €5,281 | +€2,055 | +63.7% |
| Other operating charges | 640/8 | €2,191 | €2,093 | -€98 | -4.5% |
| Gross operating margin | 9900 | €111,249 | €147,316 | +€36,067 | +32.4% |
| Operating profit (loss) | 9901 | €70,085 | €103,716 | +€33,630 | +48.0% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €3,470 | €2,726 | -€744 | -21.5% |
| Recurring financial charges | 65 | €3,303 | €2,726 | -€577 | -17.5% |
| Non-recurring financial charges | 66B | €167 | - | -€167 | |
| Profit (loss) for the period before taxes | 9903 | €66,615 | €100,991 | +€34,376 | +51.6% |
| Income taxes | 67/77 | €18,739 | €27,903 | +€9,164 | +48.9% |
| Profit (loss) for the period | 9904 | €47,876 | €73,088 | +€25,212 | +52.7% |
| Profit (loss) for the period to be appropriated | 9905 | €47,876 | €73,088 | +€25,212 | +52.7% |
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 19 October 2026 via checked.be.