VSP GENK: 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.
VSP GENK
Largest movements
- Tangible fixed assets -€223,552
down €223,552 (-5.5%), from €4.1m to €3.8m
- Debts after one year -€256,668
down €256,668 (-8.6%), from €3.0m to €2.7m
- Reserves +€178,079
up €178,079 (+29.8%), from €596,890 to €774,969
of which Distributable reserves: +€178,079
- Other debts -€170,000
down €170,000 (-49.7%), from €342,000 to €172,000
- Gross operating margin +€16,678
up €16,678 (+3.3%), from €511,914 to €528,592
- Financial charges -€5,942
down €5,942 (-8.5%), from €70,235 to €64,293
- Taxes +€5,596
up €5,596 (+10.4%), from €53,763 to €59,360
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 | €4,251,151 | €3,991,430 | -€259,722 | -6.1% |
| Fixed assets | 21/28 | €4,066,163 | €3,842,612 | -€223,552 | -5.5% |
| Tangible fixed assets | 22/27 | €4,066,163 | €3,842,612 | -€223,552 | -5.5% |
| Land and buildings | 22 | €4,066,163 | €3,842,612 | -€223,552 | -5.5% |
| Current assets | 29/58 | €184,988 | €148,818 | -€36,170 | -19.6% |
| Amounts receivable within one year | 40/41 | €132,336 | €135,903 | +€3,567 | +2.7% |
| Trade receivables | 40 | €132,336 | €135,263 | +€2,927 | +2.2% |
| Other amounts receivable | 41 | - | €640 | +€640 | |
| Cash at bank and in hand | 54/58 | €52,652 | €12,915 | -€39,737 | -75.5% |
| Total equity and liabilities | 10/49 | €4,251,151 | €3,991,430 | -€259,722 | -6.1% |
| Equity | 10/15 | €658,990 | €837,069 | +€178,079 | +27.0% |
| Contributions | 10/11 | €62,100 | €62,100 | = | 0.0% |
| Capital | 10 | €62,100 | €62,100 | = | 0.0% |
| Issued capital | 100 | €62,100 | €62,100 | = | 0.0% |
| Reserves | 13 | €596,890 | €774,969 | +€178,079 | +29.8% |
| Non-distributable reserves | 130/1 | €6,210 | €6,210 | = | 0.0% |
| Legal reserve | 130 | €6,210 | €6,210 | = | 0.0% |
| Distributable reserves | 133 | €590,680 | €768,759 | +€178,079 | +30.1% |
| Amounts payable | 17/49 | €3,592,161 | €3,154,361 | -€437,800 | -12.2% |
| Amounts payable after more than one year | 17 | €2,980,546 | €2,723,878 | -€256,668 | -8.6% |
| Financial debts | 170/4 | €2,980,546 | €2,723,878 | -€256,668 | -8.6% |
| Amounts payable within one year | 42/48 | €611,615 | €430,483 | -€181,132 | -29.6% |
| Current portion of amounts payable after more than one year | 42 | €256,668 | €256,668 | = | 0.0% |
| Trade debts | 44 | €3,118 | €1,815 | -€1,303 | -41.8% |
| Suppliers | 440/4 | €3,118 | €1,815 | -€1,303 | -41.8% |
| Taxes, remuneration and social security | 45 | €9,829 | - | -€9,829 | |
| Taxes | 450/3 | €9,829 | - | -€9,829 | |
| Other amounts payable | 47/48 | €342,000 | €172,000 | -€170,000 | -49.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €223,552 | €223,552 | = | 0.0% |
| Other operating charges | 640/8 | €3,271 | €3,308 | +€38 | +1.1% |
| Gross operating margin | 9900 | €511,914 | €528,592 | +€16,678 | +3.3% |
| Operating profit (loss) | 9901 | €285,091 | €301,732 | +€16,640 | +5.8% |
| Financial income | 75/76B | €197 | - | -€197 | |
| Recurring financial income | 75 | €197 | - | -€197 | |
| Financial charges | 65/66B | €70,235 | €64,293 | -€5,942 | -8.5% |
| Recurring financial charges | 65 | €70,235 | €64,293 | -€5,942 | -8.5% |
| Profit (loss) for the period before taxes | 9903 | €215,053 | €237,438 | +€22,386 | +10.4% |
| Income taxes | 67/77 | €53,763 | €59,360 | +€5,596 | +10.4% |
| Profit (loss) for the period | 9904 | €161,289 | €178,079 | +€16,789 | +10.4% |
| Profit (loss) for the period to be appropriated | 9905 | €161,289 | €178,079 | +€16,789 | +10.4% |
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 15 October 2026 via checked.be.