VKLX: what changed
Two fiscal 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.
VKLX
Largest movements
- Receivables within one year -€507,838
down €507,838 (-50.9%), from €997,754 to €489,916
of which Trade receivables: -€403,525
- Stocks and contracts -€55,758
down €55,758 (-10.1%), from €549,592 to €493,833
of which Stocks: -€68,646
- Tangible fixed assets -€24,033
down €24,033 (-37.8%), from €63,636 to €39,603
of which Leasing and similar rights: -€28,698
- Cash -€16,677
down €16,677 (-52.9%), from €31,518 to €14,842
mainly Trade debts (-€556,199) and Debts after one year (-€34,423)
- Trade debts -€556,199
down €556,199 (-83.3%), from €667,951 to €111,752
- Debts after one year -€34,423
down €34,423 (-34.3%), from €100,444 to €66,021
- Gross operating margin -€78,051
down €78,051 (-21.7%), from €360,432 to €282,381
- Financial charges -€68,811
down €68,811 (-65.3%), from €105,323 to €36,512
of which Financial charges: -€63,811
- Staff costs +€35,623
up €35,623 (+21.8%), from €163,550 to €199,173
- Other operating charges -€14,220
down €14,220 (-83.7%), from €16,984 to €2,765
- Taxes -€6,895
down €6,895 (-55.6%), from €12,390 to €5,496
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.
Cash bridge derived
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 | €1,642,501 | €1,039,879 | -€602,622 | -36.7% |
| Fixed assets | 21/28 | €63,636 | €41,103 | -€22,533 | -35.4% |
| Tangible fixed assets | 22/27 | €63,636 | €39,603 | -€24,033 | -37.8% |
| Land and buildings | 22 | - | €1,527 | +€1,527 | |
| Plant, machinery and equipment | 23 | €14,342 | €11,093 | -€3,249 | -22.7% |
| Furniture and vehicles | 24 | €4,928 | €11,316 | +€6,387 | +129.6% |
| Leasing and similar rights | 25 | €44,366 | €15,668 | -€28,698 | -64.7% |
| Financial fixed assets | 28 | - | €1,500 | +€1,500 | |
| Current assets | 29/58 | €1,578,864 | €998,776 | -€580,089 | -36.7% |
| Stocks and contracts in progress | 3 | €549,592 | €493,833 | -€55,758 | -10.1% |
| Stocks | 30/36 | €155,840 | €87,194 | -€68,646 | -44.0% |
| Contracts in progress | 37 | €393,751 | €406,639 | +€12,888 | +3.3% |
| Amounts receivable within one year | 40/41 | €997,754 | €489,916 | -€507,838 | -50.9% |
| Trade receivables | 40 | €814,986 | €411,461 | -€403,525 | -49.5% |
| Other amounts receivable | 41 | €182,768 | €78,455 | -€104,314 | -57.1% |
| Cash at bank and in hand | 54/58 | €31,518 | €14,842 | -€16,677 | -52.9% |
| Deferred charges and accrued income | 490/1 | - | €185 | +€185 | |
| Total equity and liabilities | 10/49 | €1,642,501 | €1,039,879 | -€602,622 | -36.7% |
| Equity | 10/15 | €371,260 | €374,169 | +€2,909 | +0.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €352,660 | €355,569 | +€2,909 | +0.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €350,800 | €353,709 | +€2,909 | +0.8% |
| Amounts payable | 17/49 | €1,271,240 | €665,710 | -€605,530 | -47.6% |
| Amounts payable after more than one year | 17 | €100,444 | €66,021 | -€34,423 | -34.3% |
| Financial debts | 170/4 | €100,444 | €66,021 | -€34,423 | -34.3% |
| Amounts payable within one year | 42/48 | €1,170,796 | €599,688 | -€571,108 | -48.8% |
| Current portion of amounts payable after more than one year | 42 | €59,055 | €45,726 | -€13,329 | -22.6% |
| Financial debts | 43 | €200,000 | €200,000 | = | 0.0% |
| Credit institutions | 430/8 | €200,000 | €200,000 | = | 0.0% |
| Trade debts | 44 | €667,951 | €111,752 | -€556,199 | -83.3% |
| Suppliers | 440/4 | €667,951 | €111,752 | -€556,199 | -83.3% |
| Taxes, remuneration and social security | 45 | €59,286 | €47,074 | -€12,211 | -20.6% |
| Taxes | 450/3 | €30,484 | €17,833 | -€12,651 | -41.5% |
| Remuneration and social security | 454/9 | €28,802 | €29,242 | +€440 | +1.5% |
| Other amounts payable | 47/48 | €184,504 | €195,136 | +€10,632 | +5.8% |
| Remuneration, social security and pensions | 62 | €163,550 | €199,173 | +€35,623 | +21.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,263 | €35,618 | -€5,645 | -13.7% |
| Other operating charges | 640/8 | €16,984 | €2,765 | -€14,220 | -83.7% |
| Gross operating margin | 9900 | €360,432 | €282,381 | -€78,051 | -21.7% |
| Operating profit (loss) | 9901 | €138,635 | €44,825 | -€93,810 | -67.7% |
| Financial income | 75/76B | €223 | €92 | -€131 | -58.8% |
| Recurring financial income | 75 | €223 | €92 | -€131 | -58.8% |
| Financial charges | 65/66B | €105,323 | €36,512 | -€68,811 | -65.3% |
| Recurring financial charges | 65 | €100,323 | €36,512 | -€63,811 | -63.6% |
| Non-recurring financial charges | 66B | €5,000 | - | -€5,000 | |
| Profit (loss) for the period before taxes | 9903 | €33,535 | €8,404 | -€25,130 | -74.9% |
| Income taxes | 67/77 | €12,390 | €5,496 | -€6,895 | -55.6% |
| Profit (loss) for the period | 9904 | €21,144 | €2,909 | -€18,236 | -86.2% |
| Profit (loss) for the period to be appropriated | 9905 | €21,144 | €2,909 | -€18,236 | -86.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.