VPK.A: 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.
VPK.A
Largest movements
- Receivables within one year +€14,516
up €14,516 (+13.1%), from €111,101 to €125,617
of which Trade receivables: +€8,298
- Other debts +€60,000
new in 2025: €60,000
- Profit (loss) carried forward -€46,893
down €46,893 (-58.7%), from €79,829 to €32,936
- Advances received +€9,113
new in 2025: €9,113
- Short-term financial debts -€4,773
down €4,773 (-23.6%), from €20,247 to €15,474
- Trade debts -€2,707
down €2,707 (-63.4%), from €4,272 to €1,565
- Gross operating margin +€15,722
up €15,722 (+804%), from €1,956 to €17,678
- Taxes +€3,764
up €3,764 (+291%), from €1,295 to €5,059
- Depreciation -€1,353
down €1,353 (-69.6%), from €1,944 to €590
- Financial charges -€456
down €456 (-11.9%), from €3,841 to €3,386
- Financial income -€339
down €339 (-6.8%), from €5,024 to €4,685
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €112,583 | €128,442 | +€15,859 | +14.1% |
| Fixed assets | 21/28 | €865 | €1,754 | +€889 | +103% |
| Tangible fixed assets | 22/27 | €865 | €1,754 | +€889 | +103% |
| Plant, machinery and equipment | 23 | €525 | €1,654 | +€1,129 | +215% |
| Furniture and vehicles | 24 | €340 | €100 | -€240 | -70.6% |
| Current assets | 29/58 | €111,718 | €126,688 | +€14,970 | +13.4% |
| Amounts receivable within one year | 40/41 | €111,101 | €125,617 | +€14,516 | +13.1% |
| Trade receivables | 40 | €28,403 | €36,701 | +€8,298 | +29.2% |
| Other amounts receivable | 41 | €82,697 | €88,916 | +€6,219 | +7.5% |
| Deferred charges and accrued income | 490/1 | €617 | €1,072 | +€454 | +73.5% |
| Total equity and liabilities | 10/49 | €112,583 | €128,442 | +€15,859 | +14.1% |
| Equity | 10/15 | €82,829 | €35,936 | -€46,893 | -56.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €79,829 | €32,936 | -€46,893 | -58.7% |
| Amounts payable | 17/49 | €29,754 | €92,506 | +€62,752 | +211% |
| Amounts payable within one year | 42/48 | €29,754 | €92,506 | +€62,752 | +211% |
| Financial debts | 43 | €20,247 | €15,474 | -€4,773 | -23.6% |
| Credit institutions | 430/8 | €20,247 | €15,474 | -€4,773 | -23.6% |
| Trade debts | 44 | €4,272 | €1,565 | -€2,707 | -63.4% |
| Suppliers | 440/4 | €4,272 | €1,565 | -€2,707 | -63.4% |
| Advances received on contracts in progress | 46 | - | €9,113 | +€9,113 | |
| Taxes, remuneration and social security | 45 | €5,236 | €6,354 | +€1,119 | +21.4% |
| Taxes | 450/3 | €1,295 | €6,354 | +€5,059 | +391% |
| Remuneration and social security | 454/9 | €3,940 | - | -€3,940 | |
| Other amounts payable | 47/48 | - | €60,000 | +€60,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,944 | €590 | -€1,353 | -69.6% |
| Other operating charges | 640/8 | €402 | €221 | -€181 | -45.0% |
| Gross operating margin | 9900 | €1,956 | €17,678 | +€15,722 | +804% |
| Operating profit (loss) | 9901 | -€390 | €16,867 | +€17,257 | |
| Financial income | 75/76B | €5,024 | €4,685 | -€339 | -6.8% |
| Recurring financial income | 75 | €5,024 | €4,685 | -€339 | -6.8% |
| Financial charges | 65/66B | €3,841 | €3,386 | -€456 | -11.9% |
| Recurring financial charges | 65 | €3,841 | €3,386 | -€456 | -11.9% |
| Profit (loss) for the period before taxes | 9903 | €793 | €18,166 | +€17,373 | +2,191% |
| Income taxes | 67/77 | €1,295 | €5,059 | +€3,764 | +291% |
| Profit (loss) for the period | 9904 | -€502 | €13,107 | +€13,610 | |
| Profit (loss) for the period to be appropriated | 9905 | -€502 | €13,107 | +€13,610 |
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 19 October 2026 via checked.be.