VOK PROJECTS: 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.
VOK PROJECTS
Largest movements
- Receivables within one year +€19,023
up €19,023 (+39.1%), from €48,624 to €67,647
of which Other amounts receivable: +€19,917
- Cash -€5,890
down €5,890 (-55.4%), from €10,625 to €4,735
mainly Receivables within one year (-€19,023) and Investment in fixed assets (net) (-€6,093)
- Stocks and contracts -€5,000
down €5,000 (-71.6%), from €6,986 to €1,986
of which Contracts in progress: -€5,000
- Tangible fixed assets -€4,889
down €4,889 (-4.3%), from €114,033 to €109,144
of which Land and buildings: -€2,843
- Deferred charges and accrued income -€2,061
down €2,061 (-44.2%), from €4,658 to €2,597
- Reserves +€62,125
up €62,125 (+168.5%), from €36,867 to €98,992
- Profit (loss) carried forward -€51,470
no longer reported in 2025 (was €51,470)
- Debts after one year -€5,986
down €5,986 (-8.4%), from €70,909 to €64,923
- Trade debts -€4,044
down €4,044 (-56.8%), from €7,116 to €3,072
- Gross operating margin +€2,319
up €2,319 (+8.1%), from €28,454 to €30,773
- Staff costs +€810
up €810 (+65.1%), from €1,245 to €2,055
- Taxes +€675
up €675 (+18.3%), from €3,691 to €4,366
- Financial income -€436
down €436 (-98.9%), from €441 to €5
- Other operating charges -€381
down €381 (-21.6%), from €1,760 to €1,379
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 | €184,926 | €186,109 | +€1,183 | +0.6% |
| Fixed assets | 21/28 | €114,033 | €109,144 | -€4,889 | -4.3% |
| Tangible fixed assets | 22/27 | €114,033 | €109,144 | -€4,889 | -4.3% |
| Land and buildings | 22 | €98,290 | €95,447 | -€2,843 | -2.9% |
| Plant, machinery and equipment | 23 | €6,733 | €4,704 | -€2,029 | -30.1% |
| Furniture and vehicles | 24 | €9,010 | €8,993 | -€17 | -0.2% |
| Current assets | 29/58 | €70,893 | €76,965 | +€6,072 | +8.6% |
| Stocks and contracts in progress | 3 | €6,986 | €1,986 | -€5,000 | -71.6% |
| Stocks | 30/36 | €1,986 | €1,986 | = | 0.0% |
| Contracts in progress | 37 | €5,000 | - | -€5,000 | |
| Amounts receivable within one year | 40/41 | €48,624 | €67,647 | +€19,023 | +39.1% |
| Trade receivables | 40 | €27,239 | €26,345 | -€894 | -3.3% |
| Other amounts receivable | 41 | €21,385 | €41,302 | +€19,917 | +93.1% |
| Cash at bank and in hand | 54/58 | €10,625 | €4,735 | -€5,890 | -55.4% |
| Deferred charges and accrued income | 490/1 | €4,658 | €2,597 | -€2,061 | -44.2% |
| Total equity and liabilities | 10/49 | €184,926 | €186,109 | +€1,183 | +0.6% |
| Equity | 10/15 | €94,537 | €105,192 | +€10,655 | +11.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €36,867 | €98,992 | +€62,125 | +168.5% |
| Distributable reserves | 133 | €36,867 | €98,992 | +€62,125 | +168.5% |
| Profit (loss) carried forward | 14 | €51,470 | - | -€51,470 | |
| Amounts payable | 17/49 | €90,389 | €80,917 | -€9,472 | -10.5% |
| Amounts payable after more than one year | 17 | €70,909 | €64,923 | -€5,986 | -8.4% |
| Financial debts | 170/4 | €70,909 | €64,923 | -€5,986 | -8.4% |
| Amounts payable within one year | 42/48 | €19,480 | €15,994 | -€3,486 | -17.9% |
| Current portion of amounts payable after more than one year | 42 | €5,900 | €5,986 | +€86 | +1.5% |
| Trade debts | 44 | €7,116 | €3,072 | -€4,044 | -56.8% |
| Suppliers | 440/4 | €7,116 | €3,072 | -€4,044 | -56.8% |
| Taxes, remuneration and social security | 45 | €6,464 | €6,936 | +€472 | +7.3% |
| Taxes | 450/3 | €6,385 | €5,106 | -€1,279 | -20.0% |
| Remuneration and social security | 454/9 | €79 | €1,830 | +€1,751 | +2216.5% |
| Remuneration, social security and pensions | 62 | €1,245 | €2,055 | +€810 | +65.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,615 | €10,982 | +€367 | +3.5% |
| Other operating charges | 640/8 | €1,760 | €1,379 | -€381 | -21.6% |
| Gross operating margin | 9900 | €28,454 | €30,773 | +€2,319 | +8.1% |
| Operating profit (loss) | 9901 | €14,834 | €16,357 | +€1,523 | +10.3% |
| Financial income | 75/76B | €441 | €5 | -€436 | -98.9% |
| Recurring financial income | 75 | €441 | €5 | -€436 | -98.9% |
| Financial charges | 65/66B | €1,416 | €1,341 | -€75 | -5.3% |
| Recurring financial charges | 65 | €1,416 | €1,341 | -€75 | -5.3% |
| Profit (loss) for the period before taxes | 9903 | €13,859 | €15,021 | +€1,162 | +8.4% |
| Income taxes | 67/77 | €3,691 | €4,366 | +€675 | +18.3% |
| Profit (loss) for the period | 9904 | €10,168 | €10,655 | +€487 | +4.8% |
| Profit (loss) for the period to be appropriated | 9905 | €10,168 | €10,655 | +€487 | +4.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.