VRK Services: 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.
VRK Services
Largest movements
- Receivables within one year +€714,637
up €714,637 (+235.9%), from €302,957 to €1.0m
of which Trade receivables: +€686,373
- Tangible fixed assets +€450,209
up €450,209 (+44.7%), from €1.0m to €1.5m
of which Plant, machinery and equipment: +€529,755
- Cash -€347,150
down €347,150 (-94.5%), from €367,224 to €20,074
mainly Receivables within one year (-€714,637) and Investment in fixed assets (net) (-€645,938)
- Trade debts +€330,919
up €330,919 (+2508.6%), from €13,191 to €344,110
- Profit (loss) carried forward +€283,748
up €283,748 (+55.1%), from -€515,021 to -€231,273
- Debts after one year +€158,711
up €158,711 (+8.0%), from €2.0m to €2.1m
- Short-term financial debts +€79,334
new in 2025: €79,334
- Gross operating margin +€534,037
up €534,037 (+287.6%), from €185,690 to €719,728
- Taxes +€89,811
up €89,811 (+29937.1%), from €300 to €90,111
- Depreciation +€62,830
up €62,830 (+48.7%), from €128,949 to €191,779
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 | €1,682,641 | €2,503,606 | +€820,965 | +48.8% |
| Fixed assets | 21/28 | €1,010,322 | €1,464,482 | +€454,159 | +45.0% |
| Tangible fixed assets | 22/27 | €1,007,702 | €1,457,912 | +€450,209 | +44.7% |
| Plant, machinery and equipment | 23 | €260,043 | €789,798 | +€529,755 | +203.7% |
| Furniture and vehicles | 24 | €706,919 | €668,113 | -€38,805 | -5.5% |
| Leasing and similar rights | 25 | €40,741 | - | -€40,741 | |
| Financial fixed assets | 28 | €2,620 | €6,570 | +€3,950 | +150.8% |
| Current assets | 29/58 | €672,319 | €1,039,124 | +€366,805 | +54.6% |
| Amounts receivable within one year | 40/41 | €302,957 | €1,017,594 | +€714,637 | +235.9% |
| Trade receivables | 40 | €293,307 | €979,680 | +€686,373 | +234.0% |
| Other amounts receivable | 41 | €9,650 | €37,914 | +€28,264 | +292.9% |
| Cash at bank and in hand | 54/58 | €367,224 | €20,074 | -€347,150 | -94.5% |
| Deferred charges and accrued income | 490/1 | €2,138 | €1,456 | -€682 | -31.9% |
| Total equity and liabilities | 10/49 | €1,682,641 | €2,503,606 | +€820,965 | +48.8% |
| Equity | 10/15 | -€496,421 | -€212,673 | +€283,748 | +57.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€515,021 | -€231,273 | +€283,748 | +55.1% |
| Amounts payable | 17/49 | €2,179,062 | €2,716,279 | +€537,217 | +24.7% |
| Amounts payable after more than one year | 17 | €1,982,035 | €2,140,746 | +€158,711 | +8.0% |
| Other amounts payable | 178/9 | €1,982,035 | €2,140,746 | +€158,711 | +8.0% |
| Amounts payable within one year | 42/48 | €51,338 | €425,780 | +€374,441 | +729.4% |
| Current portion of amounts payable after more than one year | 42 | €22,215 | - | -€22,215 | |
| Financial debts | 43 | - | €79,334 | +€79,334 | |
| Credit institutions | 430/8 | - | €79,334 | +€79,334 | |
| Trade debts | 44 | €13,191 | €344,110 | +€330,919 | +2508.6% |
| Suppliers | 440/4 | €13,191 | €344,110 | +€330,919 | +2508.6% |
| Taxes, remuneration and social security | 45 | €12,146 | €1,457 | -€10,688 | -88.0% |
| Taxes | 450/3 | €12,146 | €1 | -€12,145 | -100.0% |
| Remuneration and social security | 454/9 | - | €1,456 | +€1,456 | |
| Other amounts payable | 47/48 | €3,786 | €878 | -€2,908 | -76.8% |
| Accrued charges and deferred income | 492/3 | €145,689 | €149,753 | +€4,064 | +2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €128,949 | €191,779 | +€62,830 | +48.7% |
| Other operating charges | 640/8 | €11,293 | €4,114 | -€7,179 | -63.6% |
| Gross operating margin | 9900 | €185,690 | €719,728 | +€534,037 | +287.6% |
| Operating profit (loss) | 9901 | €45,448 | €523,834 | +€478,386 | +1052.6% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €143,098 | €149,976 | +€6,878 | +4.8% |
| Recurring financial charges | 65 | €143,098 | €149,976 | +€6,878 | +4.8% |
| Profit (loss) for the period before taxes | 9903 | -€97,649 | €373,859 | +€471,508 | |
| Income taxes | 67/77 | €300 | €90,111 | +€89,811 | +29937.1% |
| Profit (loss) for the period | 9904 | -€97,949 | €283,748 | +€381,697 | |
| Profit (loss) for the period to be appropriated | 9905 | -€97,949 | €283,748 | +€381,697 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.