VKP: 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.
VKP
Largest movements
- Receivables within one year -€20,508
down €20,508 (-70.7%), from €29,018 to €8,510
of which Trade receivables: -€21,101
- Stocks and contracts -€19,433
down €19,433 (-23.8%), from €81,596 to €62,163
- Tangible fixed assets +€5,483
new in 2025: €5,483
- Cash +€3,505
up €3,505 (+216.6%), from €1,618 to €5,123
mainly Receivables within one year (+€20,508) and Stocks and contracts (+€19,433)
- Short-term financial debts -€37,265
no longer reported in 2025 (was €37,265)
- Other debts +€17,811
up €17,811 (+31.6%), from €56,331 to €74,142
- Trade debts -€14,036
down €14,036 (-31.0%), from €45,270 to €31,233
- Profit (loss) carried forward +€8,952
up €8,952 (+18.0%), from -€49,665 to -€40,714
- Tax, wage and social debts -€6,416
no longer reported in 2025 (was €6,416)
- Gross operating margin +€14,316
up €14,316, from -€12,030 to €2,286
- Write-downs -€8,243
down €8,243 (-242.1%), from -€3,405 to -€11,648
- Financial charges +€2,857
up €2,857 (+1365.0%), from €209 to €3,067
- Depreciation +€1,057
up €1,057 (+338.3%), from €313 to €1,370
- Other operating charges -€377
down €377 (-53.8%), from €701 to €324
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 | €114,208 | €83,254 | -€30,954 | -27.1% |
| Fixed assets | 21/28 | €938 | €6,420 | +€5,483 | +584.8% |
| Intangible fixed assets | 21 | €938 | €938 | = | 0.0% |
| Tangible fixed assets | 22/27 | - | €5,483 | +€5,483 | |
| Furniture and vehicles | 24 | - | €5,483 | +€5,483 | |
| Current assets | 29/58 | €113,271 | €76,834 | -€36,437 | -32.2% |
| Stocks and contracts in progress | 3 | €81,596 | €62,163 | -€19,433 | -23.8% |
| Stocks | 30/36 | €81,596 | €62,163 | -€19,433 | -23.8% |
| Amounts receivable within one year | 40/41 | €29,018 | €8,510 | -€20,508 | -70.7% |
| Trade receivables | 40 | €29,018 | €7,917 | -€21,101 | -72.7% |
| Other amounts receivable | 41 | - | €593 | +€593 | |
| Cash at bank and in hand | 54/58 | €1,618 | €5,123 | +€3,505 | +216.6% |
| Deferred charges and accrued income | 490/1 | €1,038 | €1,038 | = | 0.0% |
| Total equity and liabilities | 10/49 | €114,208 | €83,254 | -€30,954 | -27.1% |
| Equity | 10/15 | -€31,073 | -€22,122 | +€8,952 | +28.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Outside capital | 11 | - | €18,592 | +€18,592 | |
| Other | 1109/19 | - | €18,592 | +€18,592 | |
| Profit (loss) carried forward | 14 | -€49,665 | -€40,714 | +€8,952 | +18.0% |
| Amounts payable | 17/49 | €145,281 | €105,376 | -€39,905 | -27.5% |
| Amounts payable within one year | 42/48 | €145,281 | €105,376 | -€39,905 | -27.5% |
| Financial debts | 43 | €37,265 | - | -€37,265 | |
| Other loans | 439 | €37,265 | - | -€37,265 | |
| Trade debts | 44 | €45,270 | €31,233 | -€14,036 | -31.0% |
| Suppliers | 440/4 | €45,270 | €31,233 | -€14,036 | -31.0% |
| Taxes, remuneration and social security | 45 | €6,416 | - | -€6,416 | |
| Taxes | 450/3 | €6,416 | - | -€6,416 | |
| Other amounts payable | 47/48 | €56,331 | €74,142 | +€17,811 | +31.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €313 | €1,370 | +€1,057 | +338.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€3,405 | -€11,648 | -€8,243 | -242.1% |
| Other operating charges | 640/8 | €701 | €324 | -€377 | -53.8% |
| Gross operating margin | 9900 | -€12,030 | €2,286 | +€14,316 | |
| Operating profit (loss) | 9901 | -€9,639 | €12,240 | +€21,879 | |
| Financial charges | 65/66B | €209 | €3,067 | +€2,857 | +1365.0% |
| Recurring financial charges | 65 | €209 | €3,067 | +€2,857 | +1365.0% |
| Profit (loss) for the period before taxes | 9903 | -€9,848 | €9,174 | +€19,022 | |
| Income taxes | 67/77 | - | €222 | +€222 | |
| Profit (loss) for the period | 9904 | -€9,848 | €8,952 | +€18,800 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,848 | €8,952 | +€18,800 |
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 5 October 2026 via checked.be.