VK FLY: 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.
VK FLY
Largest movements
- Stocks and contracts +€66,172
up €66,172 (+181%), from €36,533 to €102,705
- Receivables within one year -€42,247
down €42,247 (-76.9%), from €54,970 to €12,723
of which Trade receivables: -€44,321
- Tangible fixed assets -€3,156
no longer reported in 2025 (was €3,156)
- Cash -€2,570
down €2,570 (-4.4%), from €59,075 to €56,506
mainly Stocks and contracts (-€66,172) and Trade debts (-€23,376)
- Other debts +€32,800
up €32,800 (+1,054%), from €3,112 to €35,912
- Trade debts -€23,376
down €23,376 (-73.9%), from €31,627 to €8,251
- Tax, wage and social debts +€4,309
up €4,309 (+7.0%), from €61,929 to €66,238
- Reserves +€3,775
up €3,775 (+6.6%), from €56,956 to €60,731
- Gross operating margin -€29,671
down €29,671 (-71.4%), from €41,551 to €11,880
- Financial charges -€12,348
down €12,348 (-85.7%), from €14,401 to €2,053
- Taxes -€2,742
down €2,742 (-64.3%), from €4,266 to €1,525
- Depreciation -€2,289
down €2,289 (-42.0%), from €5,444 to €3,156
- Other operating charges +€845
up €845 (+160%), from €528 to €1,372
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 | €155,625 | €173,132 | +€17,508 | +11.3% |
| Fixed assets | 21/28 | €3,156 | - | -€3,156 | |
| Tangible fixed assets | 22/27 | €3,156 | - | -€3,156 | |
| Furniture and vehicles | 24 | €3,156 | - | -€3,156 | |
| Current assets | 29/58 | €152,469 | €173,132 | +€20,664 | +13.6% |
| Stocks and contracts in progress | 3 | €36,533 | €102,705 | +€66,172 | +181% |
| Contracts in progress | 37 | €36,533 | €102,705 | +€66,172 | +181% |
| Amounts receivable within one year | 40/41 | €54,970 | €12,723 | -€42,247 | -76.9% |
| Trade receivables | 40 | €54,785 | €10,464 | -€44,321 | -80.9% |
| Other amounts receivable | 41 | €185 | €2,259 | +€2,074 | +1,124% |
| Cash at bank and in hand | 54/58 | €59,075 | €56,506 | -€2,570 | -4.4% |
| Deferred charges and accrued income | 490/1 | €1,891 | €1,199 | -€691 | -36.6% |
| Total equity and liabilities | 10/49 | €155,625 | €173,132 | +€17,508 | +11.3% |
| Equity | 10/15 | €58,956 | €62,731 | +€3,775 | +6.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €56,956 | €60,731 | +€3,775 | +6.6% |
| Distributable reserves | 133 | €56,956 | €60,731 | +€3,775 | +6.6% |
| Amounts payable | 17/49 | €96,668 | €110,401 | +€13,733 | +14.2% |
| Amounts payable within one year | 42/48 | €96,668 | €110,401 | +€13,733 | +14.2% |
| Trade debts | 44 | €31,627 | €8,251 | -€23,376 | -73.9% |
| Suppliers | 440/4 | €31,627 | €8,251 | -€23,376 | -73.9% |
| Taxes, remuneration and social security | 45 | €61,929 | €66,238 | +€4,309 | +7.0% |
| Taxes | 450/3 | €61,929 | €66,238 | +€4,309 | +7.0% |
| Other amounts payable | 47/48 | €3,112 | €35,912 | +€32,800 | +1,054% |
| Non-recurring operating income | 76A | €4,781 | - | -€4,781 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,444 | €3,156 | -€2,289 | -42.0% |
| Other operating charges | 640/8 | €528 | €1,372 | +€845 | +160% |
| Gross operating margin | 9900 | €41,551 | €11,880 | -€29,671 | -71.4% |
| Operating profit (loss) | 9901 | €35,579 | €7,352 | -€28,227 | -79.3% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €14,401 | €2,053 | -€12,348 | -85.7% |
| Recurring financial charges | 65 | €14,401 | €2,053 | -€12,348 | -85.7% |
| Profit (loss) for the period before taxes | 9903 | €21,178 | €5,299 | -€15,878 | -75.0% |
| Income taxes | 67/77 | €4,266 | €1,525 | -€2,742 | -64.3% |
| Profit (loss) for the period | 9904 | €16,911 | €3,775 | -€13,137 | -77.7% |
| Profit (loss) for the period to be appropriated | 9905 | €16,911 | €3,775 | -€13,137 | -77.7% |
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 13 October 2026 via checked.be.