VNKR: 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.
VNKR
Largest movements
- Cash +€18,768
up €18,768 (+47.0%), from €39,929 to €58,697
mainly Depreciation (+€20,118) and Net result for the year (+€15,349)
- Tangible fixed assets -€7,534
down €7,534 (-23.1%), from €32,643 to €25,110
of which Plant, machinery and equipment: -€6,945
- Deferred charges and accrued income -€2,689
down €2,689 (-72.0%), from €3,736 to €1,048
- Receivables within one year -€2,000
down €2,000 (-4.6%), from €43,089 to €41,090
of which Trade receivables: -€8,234
- Profit (loss) carried forward +€15,375
up €15,375, from -€10,847 to €4,528
- Debts after one year -€5,002
down €5,002 (-94.5%), from €5,291 to €289
- Trade debts +€4,022
up €4,022 (+51.7%), from €7,781 to €11,802
- Current portion of long-term debt -€3,984
down €3,984 (-39.3%), from €10,131 to €6,148
- Other debts -€2,507
down €2,507 (-64.0%), from €3,918 to €1,410
- Gross operating margin +€33,102
up €33,102 (+218.8%), from €15,131 to €48,233
- Depreciation -€14,572
down €14,572 (-42.0%), from €34,690 to €20,118
- Staff costs +€8,504
new in 2025: €8,504
- Financial income -€1,248
down €1,248 (-99.4%), from €1,256 to €8
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 | €121,653 | €127,430 | +€5,777 | +4.7% |
| Fixed assets | 21/28 | €34,874 | €26,596 | -€8,279 | -23.7% |
| Intangible fixed assets | 21 | €2,231 | €1,486 | -€745 | -33.4% |
| Tangible fixed assets | 22/27 | €32,643 | €25,110 | -€7,534 | -23.1% |
| Plant, machinery and equipment | 23 | €23,904 | €16,959 | -€6,945 | -29.1% |
| Furniture and vehicles | 24 | €5,154 | €5,419 | +€265 | +5.1% |
| Other tangible fixed assets | 26 | €3,586 | €2,732 | -€854 | -23.8% |
| Current assets | 29/58 | €86,779 | €100,834 | +€14,056 | +16.2% |
| Amounts receivable within one year | 40/41 | €43,089 | €41,090 | -€2,000 | -4.6% |
| Trade receivables | 40 | €41,039 | €32,804 | -€8,234 | -20.1% |
| Other amounts receivable | 41 | €2,051 | €8,285 | +€6,235 | +304.0% |
| Current investments | 50/53 | €24 | - | -€24 | |
| Cash at bank and in hand | 54/58 | €39,929 | €58,697 | +€18,768 | +47.0% |
| Deferred charges and accrued income | 490/1 | €3,736 | €1,048 | -€2,689 | -72.0% |
| Total equity and liabilities | 10/49 | €121,653 | €127,430 | +€5,777 | +4.7% |
| Equity | 10/15 | €79,278 | €94,653 | +€15,375 | +19.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €71,525 | €71,525 | = | 0.0% |
| 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 | €69,665 | €69,665 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,847 | €4,528 | +€15,375 | |
| Amounts payable | 17/49 | €42,375 | €32,777 | -€9,598 | -22.6% |
| Amounts payable after more than one year | 17 | €5,291 | €289 | -€5,002 | -94.5% |
| Financial debts | 170/4 | €5,291 | €289 | -€5,002 | -94.5% |
| Amounts payable within one year | 42/48 | €37,084 | €32,488 | -€4,596 | -12.4% |
| Current portion of amounts payable after more than one year | 42 | €10,131 | €6,148 | -€3,984 | -39.3% |
| Financial debts | 43 | €3,134 | €2,103 | -€1,031 | -32.9% |
| Credit institutions | 430/8 | €3,134 | €2,103 | -€1,031 | -32.9% |
| Trade debts | 44 | €7,781 | €11,802 | +€4,022 | +51.7% |
| Suppliers | 440/4 | €7,781 | €11,802 | +€4,022 | +51.7% |
| Advances received on contracts in progress | 46 | €462 | €372 | -€90 | -19.6% |
| Taxes, remuneration and social security | 45 | €11,659 | €10,653 | -€1,005 | -8.6% |
| Taxes | 450/3 | €11,659 | €10,641 | -€1,018 | -8.7% |
| Remuneration and social security | 454/9 | - | €13 | +€13 | |
| Other amounts payable | 47/48 | €3,918 | €1,410 | -€2,507 | -64.0% |
| Non-recurring operating income | 76A | €1,138 | €4,323 | +€3,184 | +279.7% |
| Remuneration, social security and pensions | 62 | - | €8,504 | +€8,504 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,690 | €20,118 | -€14,572 | -42.0% |
| Other operating charges | 640/8 | €2,303 | €2,467 | +€164 | +7.1% |
| Non-recurring operating charges | 66A | - | €366 | +€366 | |
| Gross operating margin | 9900 | €15,131 | €48,233 | +€33,102 | +218.8% |
| Operating profit (loss) | 9901 | -€21,862 | €16,777 | +€38,640 | |
| Financial income | 75/76B | €1,256 | €8 | -€1,248 | -99.4% |
| Recurring financial income | 75 | €1,256 | €8 | -€1,248 | -99.4% |
| Financial charges | 65/66B | €1,620 | €1,335 | -€285 | -17.6% |
| Recurring financial charges | 65 | €1,620 | €1,335 | -€285 | -17.6% |
| Profit (loss) for the period before taxes | 9903 | -€22,226 | €15,451 | +€37,677 | |
| Income taxes | 67/77 | €113 | €101 | -€12 | -10.3% |
| Profit (loss) for the period | 9904 | -€22,339 | €15,349 | +€37,688 | |
| Profit (loss) for the period to be appropriated | 9905 | -€22,339 | €15,349 | +€37,688 |
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 6 October 2026 via checked.be.