VVM Kortrijk: what changed
VVM Kortrijk
Largest movements
- Tangible fixed assets -€253,174
down €253,174 (-49.7%), from €509,568 to €256,394
of which Land and buildings: -€244,612
- Cash -€61,475
down €61,475 (-48.7%), from €126,198 to €64,724
mainly Debts after one year (-€194,626) and Net result for the year (-€103,233)
- Receivables within one year -€18,818
down €18,818 (-9.5%), from €197,766 to €178,948
of which Trade receivables: -€20,359
- Deferred charges and accrued income +€8,696
up €8,696 (+114%), from €7,608 to €16,304
- Debts after one year -€194,626
down €194,626 (-66.5%), from €292,681 to €98,055
- Profit (loss) carried forward -€103,233
down €103,233, from €47,750 to -€55,483
- Other debts -€93,604
down €93,604 (-99.9%), from €93,704 to €100
- Trade debts +€93,414
up €93,414 (+50.2%), from €186,048 to €279,462
- Tax, wage and social debts -€21,661
down €21,661 (-33.4%), from €64,786 to €43,125
of which Taxes: -€27,229
- Gross operating margin -€229,599
down €229,599 (-63.1%), from €363,752 to €134,153
- Depreciation -€14,606
down €14,606 (-23.1%), from €63,360 to €48,754
- Other operating charges -€7,136
down €7,136 (-81.4%), from €8,768 to €1,632
- Taxes -€5,566
down €5,566 (-93.2%), from €5,974 to €408
- Staff costs -€5,457
down €5,457 (-3.0%), from €182,582 to €177,125
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €868,786 | €537,555 | -€331,231 | -38.1% |
| Fixed assets | 21/28 | €534,248 | €274,900 | -€259,349 | -48.5% |
| Intangible fixed assets | 21 | €24,680 | €18,506 | -€6,174 | -25.0% |
| Tangible fixed assets | 22/27 | €509,568 | €256,394 | -€253,174 | -49.7% |
| Land and buildings | 22 | €488,840 | €244,228 | -€244,612 | -50.0% |
| Plant, machinery and equipment | 23 | €9,219 | €3,942 | -€5,277 | -57.2% |
| Furniture and vehicles | 24 | €11,509 | €8,224 | -€3,285 | -28.5% |
| Current assets | 29/58 | €334,538 | €262,656 | -€71,883 | -21.5% |
| Amounts receivable after more than one year | 29 | €2,966 | €2,680 | -€286 | -9.6% |
| Other amounts receivable | 291 | €2,966 | €2,680 | -€286 | -9.6% |
| Amounts receivable within one year | 40/41 | €197,766 | €178,948 | -€18,818 | -9.5% |
| Trade receivables | 40 | €197,716 | €177,357 | -€20,359 | -10.3% |
| Other amounts receivable | 41 | €50 | €1,592 | +€1,542 | +3,083% |
| Cash at bank and in hand | 54/58 | €126,198 | €64,724 | -€61,475 | -48.7% |
| Deferred charges and accrued income | 490/1 | €7,608 | €16,304 | +€8,696 | +114% |
| Total equity and liabilities | 10/49 | €868,786 | €537,555 | -€331,231 | -38.1% |
| Equity | 10/15 | €180,601 | €77,368 | -€103,233 | -57.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €114,252 | €114,252 | = | 0.0% |
| Distributable reserves | 133 | €114,252 | €114,252 | = | 0.0% |
| Profit (loss) carried forward | 14 | €47,750 | -€55,483 | -€103,233 | |
| Amounts payable | 17/49 | €688,185 | €460,187 | -€227,998 | -33.1% |
| Amounts payable after more than one year | 17 | €292,681 | €98,055 | -€194,626 | -66.5% |
| Financial debts | 170/4 | €292,681 | €98,055 | -€194,626 | -66.5% |
| Amounts payable within one year | 42/48 | €395,504 | €362,132 | -€33,372 | -8.4% |
| Current portion of amounts payable after more than one year | 42 | €50,966 | €39,446 | -€11,521 | -22.6% |
| Trade debts | 44 | €186,048 | €279,462 | +€93,414 | +50.2% |
| Suppliers | 440/4 | €186,048 | €279,462 | +€93,414 | +50.2% |
| Taxes, remuneration and social security | 45 | €64,786 | €43,125 | -€21,661 | -33.4% |
| Taxes | 450/3 | €43,878 | €16,649 | -€27,229 | -62.1% |
| Remuneration and social security | 454/9 | €20,908 | €26,476 | +€5,568 | +26.6% |
| Other amounts payable | 47/48 | €93,704 | €100 | -€93,604 | -99.9% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €12,141 | +€12,141 | |
| Remuneration, social security and pensions | 62 | €182,582 | €177,125 | -€5,457 | -3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,360 | €48,754 | -€14,606 | -23.1% |
| Other operating charges | 640/8 | €8,768 | €1,632 | -€7,136 | -81.4% |
| Non-recurring operating charges | 66A | - | €976 | +€976 | |
| Gross operating margin | 9900 | €363,752 | €134,153 | -€229,599 | -63.1% |
| Operating profit (loss) | 9901 | €109,043 | -€94,334 | -€203,377 | |
| Financial income | 75/76B | €5 | €132 | +€127 | +2,628% |
| Recurring financial income | 75 | €5 | €132 | +€127 | +2,628% |
| Financial charges | 65/66B | €9,808 | €8,623 | -€1,185 | -12.1% |
| Recurring financial charges | 65 | €9,808 | €8,623 | -€1,185 | -12.1% |
| Profit (loss) for the period before taxes | 9903 | €99,240 | -€102,825 | -€202,064 | |
| Income taxes | 67/77 | €5,974 | €408 | -€5,566 | -93.2% |
| Profit (loss) for the period | 9904 | €93,265 | -€103,233 | -€196,499 | |
| Profit (loss) for the period to be appropriated | 9905 | €93,265 | -€103,233 | -€196,499 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.