VVKIA 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.
What changed
VVKIA Group
NACE 64.210, Activities of holding companies
financial year 2026 compared with 2025filed annual accounts (NBB)
Net result for the year
€3.3m
2025 · €1.4m+€1.9m
Equity
€45.1m
2025 · €39.0m+€6.1m
Cash
€716,886
2025 · €1.1m-€339,738
Balance sheet total
€58.9m
2025 · €53.9m+€5.0m
Largest movements
Assets
- Financial fixed assets +€4.7m
up €4.7m (+8.9%), from €52.6m to €57.3m
- Receivables within one year +€663,985
up €663,985 (+248%), from €267,965 to €931,950
of which Trade receivables: +€701,266
Equity and liabilities
- Profit (loss) carried forward +€3.3m
up €3.3m (+232%), from €1.4m to €4.7m
- Contributions +€2.9m
up €2.9m (+7.6%), from €37.6m to €40.5m
- Debts after one year -€1.5m
down €1.5m (-11.8%), from €12.9m to €11.3m
Income statement
- Financial income +€992,404
up €992,404 (+39.1%), from €2.5m to €3.5m
- Turnover +€390,908
up €390,908 (+30.7%), from €1.3m to €1.7m
- Financial charges -€332,109
down €332,109 (-33.9%), from €981,030 to €648,921
- Services and other goods +€110,844
up €110,844 (+23.3%), from €475,791 to €586,635
From the 2025 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.
Result 2025
€1.4m
Turnover
+€390,908
Goods and materials
+€9,368
Services and other goods
-€110,844
Other operating charges
-€252
Other operating items
+€238,152
Financial income
+€992,404
Financial charges
+€332,109
Result 2026
€3.3m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€3.0m
Investment
-€4.7m
Financing
+€1.3m
Cash 2025
€1.1m
From operations (derived)
+€3.0m
Net result for the year
+€3.3m
Receivables within one year
-€663,985
Deferred charges and accrued income
-€23,857
Trade debts
+€504,695
Tax, wage and social debts
+€140,086
Accrued charges and deferred income
-€204,325
Investment (derived)
-€4.7m
Investment in fixed assets (net)
-€4.7m
Financing
+€1.3m
Debts after one year
-€1.5m
Contributions, distributions and other
+€2.9m
Cash 2026
€716,886
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €53,897,084 | €58,925,188 | +€5.0m | +9.3% |
| Fixed assets | 21/28 | €52,570,542 | €57,250,542 | +€4.7m | +8.9% |
| Financial fixed assets | 28 | €52,570,542 | €57,250,542 | +€4.7m | +8.9% |
| Affiliated companies | 280/1 | €52,570,542 | €57,250,542 | +€4.7m | +8.9% |
| Participating interests | 280 | €52,570,542 | €52,570,542 | = | 0.0% |
| Amounts receivable | 281 | - | €4,680,000 | +€4.7m | |
| Current assets | 29/58 | €1,326,542 | €1,674,646 | +€348,103 | +26.2% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €267,965 | €931,950 | +€663,985 | +248% |
| Trade receivables | 40 | €223,500 | €924,766 | +€701,266 | +314% |
| Other amounts receivable | 41 | €44,465 | €7,184 | -€37,281 | -83.8% |
| Cash at bank and in hand | 54/58 | €1,056,625 | €716,886 | -€339,738 | -32.2% |
| Deferred charges and accrued income | 490/1 | €1,953 | €25,810 | +€23,857 | +1,222% |
| Total equity and liabilities | 10/49 | €53,897,084 | €58,925,188 | +€5.0m | +9.3% |
| Equity | 10/15 | €39,009,080 | €45,114,463 | +€6.1m | +15.7% |
| Contributions | 10/11 | €37,605,542 | €40,455,542 | +€2.9m | +7.6% |
| Profit (loss) carried forward | 14 | €1,403,538 | €4,658,921 | +€3.3m | +232% |
| Amounts payable | 17/49 | €14,888,004 | €13,810,725 | -€1.1m | -7.2% |
| Amounts payable after more than one year | 17 | €12,857,529 | €11,339,794 | -€1.5m | -11.8% |
| Financial debts | 170/4 | €12,857,529 | €11,339,794 | -€1.5m | -11.8% |
| Subordinated loans | 170 | €2,000,000 | €2,000,000 | = | 0.0% |
| Credit institutions | 173 | €10,664,000 | €8,996,000 | -€1.7m | -15.6% |
| Other loans | 174 | €193,529 | €343,794 | +€150,264 | +77.6% |
| Amounts payable within one year | 42/48 | €1,753,493 | €2,398,275 | +€644,782 | +36.8% |
| Current portion of amounts payable after more than one year | 42 | €1,668,000 | €1,668,000 | = | 0.0% |
| Trade debts | 44 | €85,493 | €590,188 | +€504,695 | +590% |
| Suppliers | 440/4 | €85,493 | €590,188 | +€504,695 | +590% |
| Taxes, remuneration and social security | 45 | - | €140,086 | +€140,086 | |
| Taxes | 450/3 | - | €140,086 | +€140,086 | |
| Accrued charges and deferred income | 492/3 | €276,982 | €72,657 | -€204,325 | -73.8% |
| Operating income | 70/76A | €1,272,280 | €1,663,188 | +€390,908 | +30.7% |
| Turnover | 70 | €1,272,280 | €1,663,188 | +€390,908 | +30.7% |
| Operating charges | 60/66A | €1,424,748 | €1,288,324 | -€136,424 | -9.6% |
| Goods for resale, raw materials and consumables | 60 | €710,417 | €701,049 | -€9,368 | -1.3% |
| Purchases | 600/8 | €710,417 | €701,049 | -€9,368 | -1.3% |
| Services and other goods | 61 | €475,791 | €586,635 | +€110,844 | +23.3% |
| Other operating charges | 640/8 | €387 | €640 | +€252 | +65.2% |
| Non-recurring operating charges | 66A | €238,152 | €0 | -€238,152 | -100% |
| Operating profit (loss) | 9901 | -€152,468 | €374,864 | +€527,332 | |
| Financial income | 75/76B | €2,537,036 | €3,529,440 | +€992,404 | +39.1% |
| Recurring financial income | 75 | €2,537,036 | €3,529,440 | +€992,404 | +39.1% |
| Income from financial fixed assets | 750 | €2,500,000 | €3,500,000 | +€1.0m | +40.0% |
| Income from current assets | 751 | €37,036 | €29,440 | -€7,596 | -20.5% |
| Other financial income | 752/9 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €981,030 | €648,921 | -€332,109 | -33.9% |
| Recurring financial charges | 65 | €981,030 | €648,921 | -€332,109 | -33.9% |
| Debt charges | 650 | €979,513 | €647,794 | -€331,718 | -33.9% |
| Other financial charges | 652/9 | €1,517 | €1,127 | -€391 | -25.8% |
| Profit (loss) for the period before taxes | 9903 | €1,403,538 | €3,255,383 | +€1.9m | +132% |
| Profit (loss) for the period | 9904 | €1,403,538 | €3,255,383 | +€1.9m | +132% |
| Profit (loss) for the period to be appropriated | 9905 | €1,403,538 | €3,255,383 | +€1.9m | +132% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.