VVKR: what changed
Two fiscal 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.
VVKR
Largest movements
- Receivables within one year -€20,990
down €20,990 (-55.3%), from €37,962 to €16,972
of which Trade receivables: -€30,660
- Cash +€14,504
up €14,504 (+6.0%), from €240,730 to €255,234
mainly Depreciation (+€25,008) and Receivables within one year (+€20,990)
- Profit (loss) carried forward +€6,090
up €6,090 (+2.0%), from €311,816 to €317,906
- Trade debts -€5,898
down €5,898 (-86.3%), from €6,838 to €940
- Tax, wage and social debts -€3,756
no longer reported in 2025 (was €3,756)
- Depreciation -€9,278
down €9,278 (-27.1%), from €34,286 to €25,008
- Gross operating margin -€7,192
down €7,192 (-20.0%), from €35,988 to €28,796
- Financial income -€1,437
down €1,437 (-22.8%), from €6,292 to €4,856
- Taxes -€518
down €518 (-24.7%), from €2,093 to €1,575
- Financial charges +€408
up €408 (+269.4%), from €151 to €559
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 | €335,036 | €328,496 | -€6,541 | -2.0% |
| Fixed assets | 21/28 | €31,161 | €32,187 | +€1,026 | +3.3% |
| Tangible fixed assets | 22/27 | €31,161 | €32,187 | +€1,026 | +3.3% |
| Plant, machinery and equipment | 23 | €2,871 | €1,270 | -€1,601 | -55.8% |
| Furniture and vehicles | 24 | €28,234 | €30,917 | +€2,683 | +9.5% |
| Other tangible fixed assets | 26 | €56 | - | -€56 | |
| Current assets | 29/58 | €303,875 | €296,308 | -€7,567 | -2.5% |
| Stocks and contracts in progress | 3 | €24,446 | €23,718 | -€728 | -3.0% |
| Stocks | 30/36 | €24,446 | €23,718 | -€728 | -3.0% |
| Amounts receivable within one year | 40/41 | €37,962 | €16,972 | -€20,990 | -55.3% |
| Trade receivables | 40 | €30,660 | - | -€30,660 | |
| Other amounts receivable | 41 | €7,302 | €16,972 | +€9,670 | +132.4% |
| Cash at bank and in hand | 54/58 | €240,730 | €255,234 | +€14,504 | +6.0% |
| Deferred charges and accrued income | 490/1 | €737 | €384 | -€353 | -47.9% |
| Total equity and liabilities | 10/49 | €335,036 | €328,496 | -€6,541 | -2.0% |
| Equity | 10/15 | €319,876 | €325,966 | +€6,090 | +1.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €311,816 | €317,906 | +€6,090 | +2.0% |
| Amounts payable | 17/49 | €15,160 | €2,530 | -€12,631 | -83.3% |
| Amounts payable after more than one year | 17 | €1,529 | - | -€1,529 | |
| Financial debts | 170/4 | €1,529 | - | -€1,529 | |
| Amounts payable within one year | 42/48 | €13,632 | €2,530 | -€11,102 | -81.4% |
| Current portion of amounts payable after more than one year | 42 | €3,038 | €1,529 | -€1,510 | -49.7% |
| Trade debts | 44 | €6,838 | €940 | -€5,898 | -86.3% |
| Suppliers | 440/4 | €6,838 | €940 | -€5,898 | -86.3% |
| Taxes, remuneration and social security | 45 | €3,756 | - | -€3,756 | |
| Taxes | 450/3 | €3,756 | - | -€3,756 | |
| Other amounts payable | 47/48 | - | €62 | +€62 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,286 | €25,008 | -€9,278 | -27.1% |
| Other operating charges | 640/8 | €247 | €357 | +€110 | +44.4% |
| Non-recurring operating charges | 66A | - | €63 | +€63 | |
| Gross operating margin | 9900 | €35,988 | €28,796 | -€7,192 | -20.0% |
| Operating profit (loss) | 9901 | €1,456 | €3,369 | +€1,913 | +131.4% |
| Financial income | 75/76B | €6,292 | €4,856 | -€1,437 | -22.8% |
| Recurring financial income | 75 | €6,292 | €4,856 | -€1,437 | -22.8% |
| Financial charges | 65/66B | €151 | €559 | +€408 | +269.4% |
| Recurring financial charges | 65 | €151 | €559 | +€408 | +269.4% |
| Profit (loss) for the period before taxes | 9903 | €7,597 | €7,665 | +€69 | +0.9% |
| Income taxes | 67/77 | €2,093 | €1,575 | -€518 | -24.7% |
| Profit (loss) for the period | 9904 | €5,504 | €6,090 | +€586 | +10.7% |
| Profit (loss) for the period to be appropriated | 9905 | €5,504 | €6,090 | +€586 | +10.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.