VSK Business: what changed
VSK Business
Largest movements
- Tangible fixed assets +€27,648
new in 2025: €27,648
- Cash +€6,125
up €6,125 (+403%), from €1,518 to €7,643
mainly Debts after one year (+€14,555) and Current portion of long-term debt (+€11,069)
- Receivables within one year -€4,543
down €4,543 (-51.2%), from €8,878 to €4,335
- Stocks and contracts -€3,760
down €3,760 (-10.5%), from €35,669 to €31,909
- Debts after one year +€14,555
new in 2025: €14,555
- Current portion of long-term debt +€11,069
new in 2025: €11,069
- Tax, wage and social debts -€10,659
down €10,659 (-64.4%), from €16,539 to €5,880
of which Remuneration and social security: -€6,524
- Trade debts +€8,495
up €8,495 (+94.2%), from €9,016 to €17,511
- Profit (loss) carried forward +€1,543
up €1,543 (+7.1%), from €21,623 to €23,166
- Turnover +€213,864
up €213,864 (+35.6%), from €600,256 to €814,119
- Purchases and services +€203,189
up €203,189 (+35.4%), from €573,938 to €777,127
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €47,178 | €72,182 | +€25,003 | +53.0% |
| Fixed assets | 21/28 | - | €27,648 | +€27,648 | |
| Tangible fixed assets | 22/27 | - | €27,648 | +€27,648 | |
| Furniture and vehicles | 24 | - | €27,648 | +€27,648 | |
| Current assets | 29/58 | €47,178 | €44,534 | -€2,645 | -5.6% |
| Stocks and contracts in progress | 3 | €35,669 | €31,909 | -€3,760 | -10.5% |
| Stocks | 30/36 | €35,669 | €31,909 | -€3,760 | -10.5% |
| Amounts receivable within one year | 40/41 | €8,878 | €4,335 | -€4,543 | -51.2% |
| Other amounts receivable | 41 | €8,878 | €4,335 | -€4,543 | -51.2% |
| Cash at bank and in hand | 54/58 | €1,518 | €7,643 | +€6,125 | +403% |
| Deferred charges and accrued income | 490/1 | €1,113 | €647 | -€466 | -41.9% |
| Total equity and liabilities | 10/49 | €47,178 | €72,182 | +€25,003 | +53.0% |
| Equity | 10/15 | €21,623 | €23,166 | +€1,543 | +7.1% |
| Profit (loss) carried forward | 14 | €21,623 | €23,166 | +€1,543 | +7.1% |
| Amounts payable | 17/49 | €25,555 | €49,015 | +€23,460 | +91.8% |
| Amounts payable after more than one year | 17 | - | €14,555 | +€14,555 | |
| Financial debts | 170/4 | - | €14,555 | +€14,555 | |
| Amounts payable within one year | 42/48 | €25,555 | €34,460 | +€8,905 | +34.8% |
| Current portion of amounts payable after more than one year | 42 | - | €11,069 | +€11,069 | |
| Trade debts | 44 | €9,016 | €17,511 | +€8,495 | +94.2% |
| Suppliers | 440/4 | €9,016 | €17,511 | +€8,495 | +94.2% |
| Taxes, remuneration and social security | 45 | €16,539 | €5,880 | -€10,659 | -64.4% |
| Taxes | 450/3 | €7,941 | €3,806 | -€4,135 | -52.1% |
| Remuneration and social security | 454/9 | €8,598 | €2,074 | -€6,524 | -75.9% |
| Turnover | 70 | €600,256 | €814,119 | +€213,864 | +35.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €573,938 | €777,127 | +€203,189 | +35.4% |
| Remuneration, social security and pensions | 62 | €22,512 | €26,324 | +€3,812 | +16.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €5,117 | +€5,117 | |
| Other operating charges | 640/8 | €4,813 | €3,580 | -€1,233 | -25.6% |
| Gross operating margin | 9900 | €30,415 | €38,072 | +€7,658 | +25.2% |
| Operating profit (loss) | 9901 | €3,090 | €3,052 | -€38 | -1.2% |
| Financial income | 75/76B | €455 | €447 | -€8 | -1.8% |
| Recurring financial income | 75 | €455 | €447 | -€8 | -1.8% |
| Financial charges | 65/66B | €161 | €1,570 | +€1,409 | +877% |
| Recurring financial charges | 65 | €161 | €1,570 | +€1,409 | +877% |
| Profit (loss) for the period before taxes | 9903 | €3,384 | €1,929 | -€1,455 | -43.0% |
| Income taxes | 67/77 | €677 | €386 | -€291 | -43.0% |
| Profit (loss) for the period | 9904 | €2,707 | €1,543 | -€1,164 | -43.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,707 | €1,543 | -€1,164 | -43.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.