VTK Trans: 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.
VTK Trans
Largest movements
- Cash +€33,946
up €33,946 (+199.3%), from €17,035 to €50,981
mainly Net result for the year (+€47,938) and Depreciation (+€28,465)
- Tangible fixed assets +€5,735
up €5,735 (+6.2%), from €92,942 to €98,677
of which Leasing and similar rights: +€27,735
- Receivables within one year +€2,841
up €2,841 (+16.8%), from €16,911 to €19,752
- Reserves +€47,938
up €47,938 (+488.3%), from €9,817 to €57,755
- Tax, wage and social debts +€13,473
up €13,473 (+156.5%), from €8,608 to €22,081
- Debts after one year -€13,062
down €13,062 (-28.6%), from €45,672 to €32,610
- Other debts -€11,719
down €11,719 (-46.0%), from €25,498 to €13,780
- Current portion of long-term debt +€6,336
up €6,336 (+20.7%), from €30,595 to €36,931
- Gross operating margin +€60,235
up €60,235 (+179.5%), from €33,561 to €93,796
- Depreciation +€11,408
up €11,408 (+66.9%), from €17,058 to €28,465
- Taxes +€9,949
up €9,949 (+371.4%), from €2,679 to €12,628
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 | €128,780 | €172,483 | +€43,704 | +33.9% |
| Fixed assets | 21/28 | €93,077 | €98,812 | +€5,735 | +6.2% |
| Tangible fixed assets | 22/27 | €92,942 | €98,677 | +€5,735 | +6.2% |
| Furniture and vehicles | 24 | €92,942 | €70,942 | -€22,000 | -23.7% |
| Leasing and similar rights | 25 | - | €27,735 | +€27,735 | |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €35,702 | €73,671 | +€37,969 | +106.3% |
| Amounts receivable within one year | 40/41 | €16,911 | €19,752 | +€2,841 | +16.8% |
| Trade receivables | 40 | €16,911 | €19,752 | +€2,841 | +16.8% |
| Cash at bank and in hand | 54/58 | €17,035 | €50,981 | +€33,946 | +199.3% |
| Deferred charges and accrued income | 490/1 | €1,756 | €2,938 | +€1,182 | +67.3% |
| Total equity and liabilities | 10/49 | €128,780 | €172,483 | +€43,704 | +33.9% |
| Equity | 10/15 | €15,917 | €63,855 | +€47,938 | +301.2% |
| Contributions | 10/11 | €6,100 | €6,100 | = | 0.0% |
| Reserves | 13 | €9,817 | €57,755 | +€47,938 | +488.3% |
| Distributable reserves | 133 | €9,817 | €57,755 | +€47,938 | +488.3% |
| Amounts payable | 17/49 | €112,862 | €108,628 | -€4,234 | -3.8% |
| Amounts payable after more than one year | 17 | €45,672 | €32,610 | -€13,062 | -28.6% |
| Financial debts | 170/4 | €45,672 | €32,610 | -€13,062 | -28.6% |
| Amounts payable within one year | 42/48 | €67,191 | €75,891 | +€8,700 | +12.9% |
| Current portion of amounts payable after more than one year | 42 | €30,595 | €36,931 | +€6,336 | +20.7% |
| Trade debts | 44 | €2,490 | €3,099 | +€609 | +24.5% |
| Suppliers | 440/4 | €2,490 | €3,099 | +€609 | +24.5% |
| Taxes, remuneration and social security | 45 | €8,608 | €22,081 | +€13,473 | +156.5% |
| Taxes | 450/3 | €8,608 | €22,081 | +€13,473 | +156.5% |
| Other amounts payable | 47/48 | €25,498 | €13,780 | -€11,719 | -46.0% |
| Accrued charges and deferred income | 492/3 | - | €128 | +€128 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,058 | €28,465 | +€11,408 | +66.9% |
| Other operating charges | 640/8 | €100 | €745 | +€645 | +645.1% |
| Gross operating margin | 9900 | €33,561 | €93,796 | +€60,235 | +179.5% |
| Operating profit (loss) | 9901 | €16,404 | €64,586 | +€48,182 | +293.7% |
| Financial income | 75/76B | - | €11 | +€11 | |
| Recurring financial income | 75 | - | €11 | +€11 | |
| Financial charges | 65/66B | €3,908 | €4,031 | +€124 | +3.2% |
| Recurring financial charges | 65 | €3,908 | €4,031 | +€124 | +3.2% |
| Profit (loss) for the period before taxes | 9903 | €12,496 | €60,565 | +€48,069 | +384.7% |
| Income taxes | 67/77 | €2,679 | €12,628 | +€9,949 | +371.4% |
| Profit (loss) for the period | 9904 | €9,817 | €47,938 | +€38,120 | +388.3% |
| Profit (loss) for the period to be appropriated | 9905 | €9,817 | €47,938 | +€38,120 | +388.3% |
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 10 October 2026 via checked.be.