VIKOR: 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.
VIKOR
Largest movements
- Cash -€66,360
down €66,360 (-51.4%), from €129,149 to €62,789
mainly Contributions, distributions and other (-€100,000) and Receivables after one year (-€8,958)
- Receivables after one year +€8,958
new in 2025: €8,958
- Receivables within one year +€1,570
up €1,570 (+11.3%), from €13,886 to €15,457
of which Other amounts receivable: +€6,685
- Reserves -€55,089
down €55,089 (-40.4%), from €136,469 to €81,380
- Gross operating margin -€18,795
down €18,795 (-23.1%), from €81,282 to €62,487
- Financial income -€1,274
down €1,274 (-95.9%), from €1,328 to €54
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 | €144,111 | €88,003 | -€56,108 | -38.9% |
| Fixed assets | 21/28 | €885 | €560 | -€325 | -36.7% |
| Tangible fixed assets | 22/27 | €690 | €365 | -€325 | -47.1% |
| Plant, machinery and equipment | 23 | €7 | - | -€7 | |
| Other tangible fixed assets | 26 | €684 | €365 | -€318 | -46.6% |
| Financial fixed assets | 28 | €195 | €195 | = | 0.0% |
| Current assets | 29/58 | €143,225 | €87,442 | -€55,783 | -38.9% |
| Amounts receivable after more than one year | 29 | - | €8,958 | +€8,958 | |
| Other amounts receivable | 291 | - | €8,958 | +€8,958 | |
| Amounts receivable within one year | 40/41 | €13,886 | €15,457 | +€1,570 | +11.3% |
| Trade receivables | 40 | €13,615 | €8,500 | -€5,115 | -37.6% |
| Other amounts receivable | 41 | €271 | €6,957 | +€6,685 | +2,463% |
| Cash at bank and in hand | 54/58 | €129,149 | €62,789 | -€66,360 | -51.4% |
| Deferred charges and accrued income | 490/1 | €191 | €239 | +€48 | +25.3% |
| Total equity and liabilities | 10/49 | €144,111 | €88,003 | -€56,108 | -38.9% |
| Equity | 10/15 | €140,469 | €85,380 | -€55,089 | -39.2% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €136,469 | €81,380 | -€55,089 | -40.4% |
| Distributable reserves | 133 | €136,469 | €81,380 | -€55,089 | -40.4% |
| Amounts payable | 17/49 | €3,641 | €2,623 | -€1,019 | -28.0% |
| Amounts payable within one year | 42/48 | €3,418 | €2,359 | -€1,060 | -31.0% |
| Trade debts | 44 | €1,977 | €1,192 | -€785 | -39.7% |
| Suppliers | 440/4 | €1,977 | €1,192 | -€785 | -39.7% |
| Other amounts payable | 47/48 | €1,442 | €1,167 | -€275 | -19.1% |
| Accrued charges and deferred income | 492/3 | €223 | €264 | +€41 | +18.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €666 | €325 | -€341 | -51.2% |
| Other operating charges | 640/8 | €899 | €890 | -€9 | -1.0% |
| Gross operating margin | 9900 | €81,282 | €62,487 | -€18,795 | -23.1% |
| Operating profit (loss) | 9901 | €79,717 | €61,272 | -€18,445 | -23.1% |
| Financial income | 75/76B | €1,328 | €54 | -€1,274 | -95.9% |
| Recurring financial income | 75 | €1,328 | €54 | -€1,274 | -95.9% |
| Financial charges | 65/66B | €136 | €392 | +€256 | +188% |
| Recurring financial charges | 65 | €136 | €392 | +€256 | +188% |
| Profit (loss) for the period before taxes | 9903 | €80,909 | €60,934 | -€19,975 | -24.7% |
| Income taxes | 67/77 | €16,368 | €16,023 | -€345 | -2.1% |
| Profit (loss) for the period | 9904 | €64,540 | €44,911 | -€19,629 | -30.4% |
| Profit (loss) for the period to be appropriated | 9905 | €64,540 | €44,911 | -€19,629 | -30.4% |
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 18 October 2026 via checked.be.