VUKASIN: 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.
VUKASIN
Largest movements
- Cash +€13,132
up €13,132 (+44.5%), from €29,494 to €42,626
mainly Depreciation (+€42,233) and Net result for the year (+€15,962)
- Tangible fixed assets -€12,646
down €12,646 (-32.2%), from €39,285 to €26,640
of which Leasing and similar rights: -€36,706
- Receivables within one year +€4,910
up €4,910 (+33.0%), from €14,883 to €19,793
- Deferred charges and accrued income +€1,838
new in 2025: €1,838
- Reserves +€15,962
up €15,962 (+33.4%), from €47,733 to €63,695
- Debts after one year -€10,543
down €10,543 (-44.5%), from €23,667 to €13,124
- Tax, wage and social debts +€5,423
up €5,423 (+579%), from €937 to €6,360
of which Taxes: +€3,273
- Current portion of long-term debt -€4,123
down €4,123 (-51.9%), from €7,938 to €3,815
- Depreciation +€38,961
up €38,961 (+1,191%), from €3,272 to €42,233
- Gross operating margin +€29,727
up €29,727 (+56.0%), from €53,123 to €82,850
- Taxes +€17,950
new in 2025: €17,950
- Other operating charges +€3,540
up €3,540 (+629%), from €562 to €4,102
- Financial charges +€1,047
up €1,047 (+67.3%), from €1,556 to €2,603
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 | €83,662 | €90,897 | +€7,234 | +8.6% |
| Fixed assets | 21/28 | €39,285 | €26,640 | -€12,646 | -32.2% |
| Tangible fixed assets | 22/27 | €39,285 | €26,640 | -€12,646 | -32.2% |
| Furniture and vehicles | 24 | €1,223 | €25,283 | +€24,061 | +1,968% |
| Leasing and similar rights | 25 | €38,063 | €1,357 | -€36,706 | -96.4% |
| Current assets | 29/58 | €44,377 | €64,257 | +€19,880 | +44.8% |
| Amounts receivable within one year | 40/41 | €14,883 | €19,793 | +€4,910 | +33.0% |
| Trade receivables | 40 | €14,883 | €19,793 | +€4,910 | +33.0% |
| Cash at bank and in hand | 54/58 | €29,494 | €42,626 | +€13,132 | +44.5% |
| Deferred charges and accrued income | 490/1 | - | €1,838 | +€1,838 | |
| Total equity and liabilities | 10/49 | €83,662 | €90,897 | +€7,234 | +8.6% |
| Equity | 10/15 | €49,733 | €65,695 | +€15,962 | +32.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €47,733 | €63,695 | +€15,962 | +33.4% |
| Distributable reserves | 133 | €47,733 | €63,695 | +€15,962 | +33.4% |
| Amounts payable | 17/49 | €33,929 | €25,201 | -€8,728 | -25.7% |
| Amounts payable after more than one year | 17 | €23,667 | €13,124 | -€10,543 | -44.5% |
| Financial debts | 170/4 | €23,667 | €13,124 | -€10,543 | -44.5% |
| Amounts payable within one year | 42/48 | €10,103 | €11,918 | +€1,815 | +18.0% |
| Current portion of amounts payable after more than one year | 42 | €7,938 | €3,815 | -€4,123 | -51.9% |
| Trade debts | 44 | €787 | €1,662 | +€875 | +111% |
| Suppliers | 440/4 | €787 | €1,662 | +€875 | +111% |
| Taxes, remuneration and social security | 45 | €937 | €6,360 | +€5,423 | +579% |
| Taxes | 450/3 | €937 | €4,210 | +€3,273 | +349% |
| Remuneration and social security | 454/9 | - | €2,150 | +€2,150 | |
| Other amounts payable | 47/48 | €440 | €80 | -€360 | -81.8% |
| Accrued charges and deferred income | 492/3 | €160 | €160 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,272 | €42,233 | +€38,961 | +1,191% |
| Other operating charges | 640/8 | €562 | €4,102 | +€3,540 | +629% |
| Gross operating margin | 9900 | €53,123 | €82,850 | +€29,727 | +56.0% |
| Operating profit (loss) | 9901 | €49,289 | €36,514 | -€12,774 | -25.9% |
| Financial income | 75/76B | €0 | €2 | +€1 | +439% |
| Recurring financial income | 75 | €0 | €2 | +€1 | +439% |
| Financial charges | 65/66B | €1,556 | €2,603 | +€1,047 | +67.3% |
| Recurring financial charges | 65 | €1,556 | €2,603 | +€1,047 | +67.3% |
| Profit (loss) for the period before taxes | 9903 | €47,733 | €33,913 | -€13,820 | -29.0% |
| Income taxes | 67/77 | - | €17,950 | +€17,950 | |
| Profit (loss) for the period | 9904 | €47,733 | €15,962 | -€31,770 | -66.6% |
| Profit (loss) for the period to be appropriated | 9905 | €47,733 | €15,962 | -€31,770 | -66.6% |
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 13 October 2026 via checked.be.