VVK GROUP: 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.
VVK GROUP
Largest movements
- Receivables within one year +€67,554
up €67,554 (+1,306%), from €5,171 to €72,725
of which Trade receivables: +€67,863
- Cash -€17,033
down €17,033 (-71.7%), from €23,748 to €6,715
- Reserves +€30,000
new in 2026: €30,000
- Tax, wage and social debts +€17,614
up €17,614 (+318%), from €5,532 to €23,146
of which Taxes: +€12,614
- Profit (loss) carried forward +€5,456
up €5,456 (+24.7%), from €22,128 to €27,584
- Trade debts -€2,598
no longer reported in 2026 (was €2,598)
- Gross operating margin +€49,430
up €49,430 (+176%), from €28,102 to €77,531
- Taxes +€12,614
up €12,614 (+228%), from €5,532 to €18,146
- Depreciation +€869
up €869 (+2,865%), from €30 to €900
From the 2024 result to the 2026 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €30,257 | €80,730 | +€50,473 | +167% |
| Fixed assets | 21/28 | €1,256 | €1,291 | +€34 | +2.7% |
| Tangible fixed assets | 22/27 | €1,256 | €1,291 | +€34 | +2.7% |
| Plant, machinery and equipment | 23 | €1,256 | €1,291 | +€34 | +2.7% |
| Current assets | 29/58 | €29,001 | €79,440 | +€50,438 | +174% |
| Amounts receivable within one year | 40/41 | €5,171 | €72,725 | +€67,554 | +1,306% |
| Trade receivables | 40 | - | €67,863 | +€67,863 | |
| Other amounts receivable | 41 | €5,171 | €4,862 | -€309 | -6.0% |
| Cash at bank and in hand | 54/58 | €23,748 | €6,715 | -€17,033 | -71.7% |
| Deferred charges and accrued income | 490/1 | €82 | - | -€82 | |
| Total equity and liabilities | 10/49 | €30,257 | €80,730 | +€50,473 | +167% |
| Equity | 10/15 | €22,128 | €57,584 | +€35,456 | +160% |
| Reserves | 13 | - | €30,000 | +€30,000 | |
| Distributable reserves | 133 | - | €30,000 | +€30,000 | |
| Profit (loss) carried forward | 14 | €22,128 | €27,584 | +€5,456 | +24.7% |
| Amounts payable | 17/49 | €8,130 | €23,146 | +€15,017 | +185% |
| Amounts payable within one year | 42/48 | €8,130 | €23,146 | +€15,017 | +185% |
| Trade debts | 44 | €2,598 | - | -€2,598 | |
| Suppliers | 440/4 | €2,598 | €0 | -€2,598 | -100% |
| Taxes, remuneration and social security | 45 | €5,532 | €23,146 | +€17,614 | +318% |
| Taxes | 450/3 | €5,532 | €18,146 | +€12,614 | +228% |
| Remuneration and social security | 454/9 | - | €5,000 | +€5,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30 | €900 | +€869 | +2,865% |
| Other operating charges | 640/8 | €387 | €787 | +€400 | +103% |
| Gross operating margin | 9900 | €28,102 | €77,531 | +€49,430 | +176% |
| Operating profit (loss) | 9901 | €27,684 | €75,844 | +€48,161 | +174% |
| Financial charges | 65/66B | €24 | €114 | +€90 | +373% |
| Recurring financial charges | 65 | €24 | €114 | +€90 | +373% |
| Profit (loss) for the period before taxes | 9903 | €27,660 | €75,730 | +€48,070 | +174% |
| Income taxes | 67/77 | €5,532 | €18,146 | +€12,614 | +228% |
| Profit (loss) for the period | 9904 | €22,128 | €57,584 | +€35,456 | +160% |
| Profit (loss) for the period to be appropriated | 9905 | €22,128 | €57,584 | +€35,456 | +160% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.