VONCKERS: 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.
VONCKERS
Largest movements
- Receivables within one year -€51,010
down €51,010 (-16.3%), from €313,832 to €262,822
of which Trade receivables: -€39,698
- Cash +€29,306
up €29,306 (+25.6%), from €114,378 to €143,683
mainly Depreciation (+€193,251) and Net result for the year (+€97,940)
- Trade debts -€145,103
down €145,103 (-29.9%), from €485,322 to €340,219
- Reserves +€97,940
up €97,940 (+23.5%), from €417,084 to €515,024
of which Distributable reserves: +€97,940
- Other debts +€50,000
new in 2025: €50,000
- Gross operating margin +€108,262
up €108,262 (+21.0%), from €514,430 to €622,691
- Staff costs +€73,837
up €73,837 (+43.6%), from €169,519 to €243,356
- Depreciation +€62,552
up €62,552 (+47.9%), from €130,699 to €193,251
- Taxes +€11,324
up €11,324 (+76.5%), from €14,796 to €26,119
- Other operating charges +€7,796
up €7,796 (+154%), from €5,075 to €12,870
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 | €2,699,446 | €2,694,127 | -€5,319 | -0.2% |
| Fixed assets | 21/28 | €2,271,236 | €2,287,621 | +€16,386 | +0.7% |
| Tangible fixed assets | 22/27 | €2,270,431 | €2,287,621 | +€17,191 | +0.8% |
| Land and buildings | 22 | €1,822,391 | €1,887,024 | +€64,632 | +3.5% |
| Plant, machinery and equipment | 23 | €390,118 | €332,207 | -€57,911 | -14.8% |
| Furniture and vehicles | 24 | €42,035 | €68,391 | +€26,355 | +62.7% |
| Leasing and similar rights | 25 | €15,886 | €0 | -€15,886 | -100% |
| Financial fixed assets | 28 | €805 | - | -€805 | |
| Current assets | 29/58 | €428,210 | €406,506 | -€21,705 | -5.1% |
| Amounts receivable within one year | 40/41 | €313,832 | €262,822 | -€51,010 | -16.3% |
| Trade receivables | 40 | €181,805 | €142,107 | -€39,698 | -21.8% |
| Other amounts receivable | 41 | €132,028 | €120,715 | -€11,313 | -8.6% |
| Cash at bank and in hand | 54/58 | €114,378 | €143,683 | +€29,306 | +25.6% |
| Total equity and liabilities | 10/49 | €2,699,446 | €2,694,127 | -€5,319 | -0.2% |
| Equity | 10/15 | €978,684 | €1,076,624 | +€97,940 | +10.0% |
| Contributions | 10/11 | €561,600 | €561,600 | = | 0.0% |
| Reserves | 13 | €417,084 | €515,024 | +€97,940 | +23.5% |
| 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 | €415,224 | €513,164 | +€97,940 | +23.6% |
| Amounts payable | 17/49 | €1,720,761 | €1,617,503 | -€103,259 | -6.0% |
| Amounts payable after more than one year | 17 | €1,042,327 | €1,035,003 | -€7,324 | -0.7% |
| Financial debts | 170/4 | €1,042,327 | €1,035,003 | -€7,324 | -0.7% |
| Amounts payable within one year | 42/48 | €678,435 | €582,500 | -€95,935 | -14.1% |
| Current portion of amounts payable after more than one year | 42 | €102,516 | €103,545 | +€1,029 | +1.0% |
| Trade debts | 44 | €485,322 | €340,219 | -€145,103 | -29.9% |
| Suppliers | 440/4 | €485,322 | €340,219 | -€145,103 | -29.9% |
| Advances received on contracts in progress | 46 | €7,865 | - | -€7,865 | |
| Taxes, remuneration and social security | 45 | €82,732 | €88,736 | +€6,004 | +7.3% |
| Taxes | 450/3 | €46,507 | €70,040 | +€23,533 | +50.6% |
| Remuneration and social security | 454/9 | €36,225 | €18,695 | -€17,529 | -48.4% |
| Other amounts payable | 47/48 | - | €50,000 | +€50,000 | |
| Non-recurring operating income | 76A | €146,960 | - | -€146,960 | |
| Remuneration, social security and pensions | 62 | €169,519 | €243,356 | +€73,837 | +43.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €130,699 | €193,251 | +€62,552 | +47.9% |
| Other operating charges | 640/8 | €5,075 | €12,870 | +€7,796 | +154% |
| Non-recurring operating charges | 66A | €1,787 | €805 | -€982 | -55.0% |
| Gross operating margin | 9900 | €514,430 | €622,691 | +€108,262 | +21.0% |
| Operating profit (loss) | 9901 | €207,350 | €172,409 | -€34,940 | -16.9% |
| Financial income | 75/76B | €1,059 | €107 | -€952 | -89.9% |
| Recurring financial income | 75 | €1,059 | €107 | -€952 | -89.9% |
| Financial charges | 65/66B | €43,229 | €48,457 | +€5,228 | +12.1% |
| Recurring financial charges | 65 | €43,229 | €48,457 | +€5,228 | +12.1% |
| Profit (loss) for the period before taxes | 9903 | €165,179 | €124,059 | -€41,120 | -24.9% |
| Income taxes | 67/77 | €14,796 | €26,119 | +€11,324 | +76.5% |
| Profit (loss) for the period | 9904 | €150,384 | €97,940 | -€52,444 | -34.9% |
| Profit (loss) for the period to be appropriated | 9905 | €150,384 | €97,940 | -€52,444 | -34.9% |
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 28 October 2026 via checked.be.