Vonken: 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.
Vonken
Largest movements
- Intangible fixed assets +€337,893
up €337,893 (+180%), from €187,426 to €525,319
- Cash +€136,305
up €136,305 (+140%), from €97,139 to €233,445
- Stocks and contracts +€45,425
up €45,425 (+36.1%), from €125,725 to €171,149
- Tangible fixed assets +€26,058
up €26,058 (+407%), from €6,406 to €32,464
of which Furniture and vehicles: +€21,334
- Receivables within one year -€23,210
down €23,210 (-64.6%), from €35,908 to €12,698
of which Trade receivables: -€24,856
- Contributions +€845,371
up €845,371 (+717%), from €117,944 to €963,315
- Profit (loss) carried forward -€316,698
new in 2025: -€316,698
- Debts after one year -€37,032
down €37,032 (-46.5%), from €79,701 to €42,669
- Other debts +€32,113
up €32,113 (+78,961%), from €41 to €32,154
- Trade debts -€31,863
down €31,863 (-30.3%), from €105,330 to €73,467
- Staff costs +€103,007
up €103,007 (+938%), from €10,981 to €113,988
- Write-downs +€72,836
new in 2025: €72,836
- Depreciation +€71,861
up €71,861 (+153%), from €47,016 to €118,877
- Gross operating margin -€64,885
down €64,885, from €62,368 to -€2,516
- Financial charges +€7,600
up €7,600 (+1,164%), from €653 to €8,254
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €463,736 | €977,892 | +€514,156 | +111% |
| Fixed assets | 21/28 | €195,577 | €559,528 | +€363,951 | +186% |
| Intangible fixed assets | 21 | €187,426 | €525,319 | +€337,893 | +180% |
| Tangible fixed assets | 22/27 | €6,406 | €32,464 | +€26,058 | +407% |
| Plant, machinery and equipment | 23 | €1,392 | €6,116 | +€4,724 | +339% |
| Furniture and vehicles | 24 | €5,014 | €26,347 | +€21,334 | +426% |
| Financial fixed assets | 28 | €1,745 | €1,745 | = | 0.0% |
| Current assets | 29/58 | €268,159 | €418,364 | +€150,206 | +56.0% |
| Stocks and contracts in progress | 3 | €125,725 | €171,149 | +€45,425 | +36.1% |
| Stocks | 30/36 | €125,725 | €171,149 | +€45,425 | +36.1% |
| Amounts receivable within one year | 40/41 | €35,908 | €12,698 | -€23,210 | -64.6% |
| Trade receivables | 40 | €35,908 | €11,052 | -€24,856 | -69.2% |
| Other amounts receivable | 41 | €0 | €1,646 | +€1,646 | |
| Cash at bank and in hand | 54/58 | €97,139 | €233,445 | +€136,305 | +140% |
| Deferred charges and accrued income | 490/1 | €9,386 | €1,072 | -€8,315 | -88.6% |
| Total equity and liabilities | 10/49 | €463,736 | €977,892 | +€514,156 | +111% |
| Equity | 10/15 | €238,163 | €766,836 | +€528,673 | +222% |
| Contributions | 10/11 | €117,944 | €963,315 | +€845,371 | +717% |
| Reserves | 13 | €120,219 | €120,219 | = | 0.0% |
| Distributable reserves | 133 | €120,219 | €120,219 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€316,698 | -€316,698 | |
| Amounts payable | 17/49 | €225,572 | €211,056 | -€14,516 | -6.4% |
| Amounts payable after more than one year | 17 | €79,701 | €42,669 | -€37,032 | -46.5% |
| Financial debts | 170/4 | €79,701 | €42,669 | -€37,032 | -46.5% |
| Amounts payable within one year | 42/48 | €145,871 | €168,387 | +€22,516 | +15.4% |
| Current portion of amounts payable after more than one year | 42 | €23,695 | €30,498 | +€6,803 | +28.7% |
| Financial debts | 43 | - | €412 | +€412 | |
| Credit institutions | 430/8 | - | €412 | +€412 | |
| Trade debts | 44 | €105,330 | €73,467 | -€31,863 | -30.3% |
| Suppliers | 440/4 | €105,330 | €73,467 | -€31,863 | -30.3% |
| Advances received on contracts in progress | 46 | €0 | €6,154 | +€6,154 | |
| Taxes, remuneration and social security | 45 | €16,806 | €25,701 | +€8,896 | +52.9% |
| Taxes | 450/3 | €12,713 | €6,213 | -€6,500 | -51.1% |
| Remuneration and social security | 454/9 | €4,092 | €19,488 | +€15,396 | +376% |
| Other amounts payable | 47/48 | €41 | €32,154 | +€32,113 | +78,961% |
| Remuneration, social security and pensions | 62 | €10,981 | €113,988 | +€103,007 | +938% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,016 | €118,877 | +€71,861 | +153% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €72,836 | +€72,836 | |
| Other operating charges | 640/8 | €1,280 | €1,407 | +€126 | +9.9% |
| Gross operating margin | 9900 | €62,368 | -€2,516 | -€64,885 | |
| Operating profit (loss) | 9901 | €3,092 | -€309,624 | -€312,715 | |
| Financial income | 75/76B | €268 | €1,345 | +€1,077 | +403% |
| Recurring financial income | 75 | €268 | €1,345 | +€1,077 | +403% |
| Financial charges | 65/66B | €653 | €8,254 | +€7,600 | +1,164% |
| Recurring financial charges | 65 | €653 | €8,254 | +€7,600 | +1,164% |
| Profit (loss) for the period before taxes | 9903 | €2,706 | -€316,533 | -€319,239 | |
| Income taxes | 67/77 | - | €166 | +€166 | |
| Profit (loss) for the period | 9904 | €2,706 | -€316,698 | -€319,404 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,706 | -€316,698 | -€319,404 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.