VNK TRANS: 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.
VNK TRANS
Largest movements
- Tangible fixed assets +€74,271
up €74,271 (+11.6%), from €642,445 to €716,716
of which Leasing and similar rights: +€97,202
- Cash +€34,473
up €34,473 (+36.7%), from €93,869 to €128,342
mainly Depreciation (+€133,310) and Other debts (+€114,413)
- Receivables within one year +€15,664
up €15,664 (+17.1%), from €91,376 to €107,041
of which Other amounts receivable: +€9,726
- Other debts +€114,413
up €114,413 (+682%), from €16,779 to €131,193
- Reserves -€83,075
down €83,075 (-34.9%), from €238,203 to €155,128
of which Distributable reserves: -€82,000
- Debts after one year +€52,668
up €52,668 (+11.8%), from €447,911 to €500,579
- Current portion of long-term debt +€36,500
up €36,500 (+41.3%), from €88,324 to €124,824
- Tax, wage and social debts +€13,273
up €13,273 (+31.0%), from €42,800 to €56,073
of which Taxes: +€10,663
- Depreciation -€36,468
down €36,468 (-21.5%), from €169,777 to €133,310
- Staff costs +€11,081
up €11,081 (+4.7%), from €234,589 to €245,670
- Other operating charges -€6,755
down €6,755 (-10.6%), from €63,506 to €56,751
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 | €874,257 | €998,968 | +€124,711 | +14.3% |
| Fixed assets | 21/28 | €666,445 | €745,716 | +€79,271 | +11.9% |
| Tangible fixed assets | 22/27 | €642,445 | €716,716 | +€74,271 | +11.6% |
| Land and buildings | 22 | €374,281 | €358,061 | -€16,221 | -4.3% |
| Plant, machinery and equipment | 23 | €17,280 | €13,327 | -€3,953 | -22.9% |
| Furniture and vehicles | 24 | €5,932 | €3,175 | -€2,757 | -46.5% |
| Leasing and similar rights | 25 | €244,952 | €342,154 | +€97,202 | +39.7% |
| Financial fixed assets | 28 | €24,000 | €29,000 | +€5,000 | +20.8% |
| Current assets | 29/58 | €207,812 | €253,252 | +€45,440 | +21.9% |
| Amounts receivable after more than one year | 29 | €15,000 | €10,000 | -€5,000 | -33.3% |
| Other amounts receivable | 291 | €15,000 | €10,000 | -€5,000 | -33.3% |
| Amounts receivable within one year | 40/41 | €91,376 | €107,041 | +€15,664 | +17.1% |
| Trade receivables | 40 | €77,988 | €83,926 | +€5,938 | +7.6% |
| Other amounts receivable | 41 | €13,388 | €23,114 | +€9,726 | +72.7% |
| Cash at bank and in hand | 54/58 | €93,869 | €128,342 | +€34,473 | +36.7% |
| Deferred charges and accrued income | 490/1 | €7,566 | €7,869 | +€303 | +4.0% |
| Total equity and liabilities | 10/49 | €874,257 | €998,968 | +€124,711 | +14.3% |
| Equity | 10/15 | €255,148 | €172,322 | -€82,826 | -32.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €238,203 | €155,128 | -€83,075 | -34.9% |
| Tax-exempt reserves | 132 | €3,703 | €2,628 | -€1,075 | -29.0% |
| Distributable reserves | 133 | €234,500 | €152,500 | -€82,000 | -35.0% |
| Profit (loss) carried forward | 14 | €4,545 | €4,794 | +€249 | +5.5% |
| Provisions and deferred taxes | 16 | €926 | €657 | -€269 | -29.0% |
| Deferred taxes | 168 | €926 | €657 | -€269 | -29.0% |
| Amounts payable | 17/49 | €618,183 | €825,990 | +€207,806 | +33.6% |
| Amounts payable after more than one year | 17 | €447,911 | €500,579 | +€52,668 | +11.8% |
| Financial debts | 170/4 | €447,911 | €500,579 | +€52,668 | +11.8% |
| Amounts payable within one year | 42/48 | €170,273 | €325,410 | +€155,138 | +91.1% |
| Current portion of amounts payable after more than one year | 42 | €88,324 | €124,824 | +€36,500 | +41.3% |
| Trade debts | 44 | €22,370 | €13,321 | -€9,049 | -40.5% |
| Suppliers | 440/4 | €22,370 | €13,321 | -€9,049 | -40.5% |
| Taxes, remuneration and social security | 45 | €42,800 | €56,073 | +€13,273 | +31.0% |
| Taxes | 450/3 | €22,114 | €32,776 | +€10,663 | +48.2% |
| Remuneration and social security | 454/9 | €20,686 | €23,296 | +€2,610 | +12.6% |
| Other amounts payable | 47/48 | €16,779 | €131,193 | +€114,413 | +682% |
| Non-recurring operating income | 76A | €4,664 | - | -€4,664 | |
| Remuneration, social security and pensions | 62 | €234,589 | €245,670 | +€11,081 | +4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €169,777 | €133,310 | -€36,468 | -21.5% |
| Other operating charges | 640/8 | €63,506 | €56,751 | -€6,755 | -10.6% |
| Gross operating margin | 9900 | €520,742 | €517,608 | -€3,134 | -0.6% |
| Operating profit (loss) | 9901 | €52,870 | €81,878 | +€29,007 | +54.9% |
| Financial income | 75/76B | €423 | €344 | -€79 | -18.7% |
| Recurring financial income | 75 | €423 | €344 | -€79 | -18.7% |
| Financial charges | 65/66B | €21,100 | €21,766 | +€665 | +3.2% |
| Recurring financial charges | 65 | €21,100 | €21,766 | +€665 | +3.2% |
| Profit (loss) for the period before taxes | 9903 | €32,193 | €60,456 | +€28,263 | +87.8% |
| Transfer from deferred taxes | 780 | €269 | €269 | = | 0.0% |
| Income taxes | 67/77 | €9,655 | €14,551 | +€4,896 | +50.7% |
| Profit (loss) for the period | 9904 | €22,806 | €46,174 | +€23,367 | +102% |
| Transfer from tax-exempt reserves | 789 | €1,075 | €1,075 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €23,881 | €47,249 | +€23,367 | +97.8% |
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 20 October 2026 via checked.be.