VSK Engineering: 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.
VSK Engineering
Largest movements
- Cash -€46,997
down €46,997 (-89.0%), from €52,824 to €5,827
mainly Net result for the year (-€20,792) and Debts after one year (-€17,028)
- Receivables within one year -€5,595
down €5,595 (-15.8%), from €35,415 to €29,820
of which Trade receivables: -€5,595
- Tangible fixed assets +€2,782
up €2,782 (+51.4%), from €5,412 to €8,195
- Profit (loss) carried forward -€20,792
down €20,792, from €5,826 to -€14,967
- Debts after one year -€17,028
down €17,028 (-65.9%), from €25,828 to €8,800
- Tax, wage and social debts -€9,429
down €9,429 (-55.0%), from €17,147 to €7,718
of which Taxes: -€8,998
- Trade debts -€2,426
down €2,426 (-84.4%), from €2,874 to €448
- Financial charges +€58,136
up €58,136 (+3,183%), from €1,826 to €59,962
- Taxes -€10,445
down €10,445 (-98.8%), from €10,577 to €132
- Gross operating margin +€5,394
up €5,394 (+14.0%), from €38,405 to €43,799
- Other operating charges +€2,861
up €2,861, from €0 to €2,861
- Depreciation +€1,171
up €1,171 (+250%), from €468 to €1,639
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 | €93,712 | €43,902 | -€49,810 | -53.2% |
| Fixed assets | 21/28 | €5,472 | €8,255 | +€2,782 | +50.8% |
| Tangible fixed assets | 22/27 | €5,412 | €8,195 | +€2,782 | +51.4% |
| Furniture and vehicles | 24 | €5,412 | €8,195 | +€2,782 | +51.4% |
| Financial fixed assets | 28 | €60 | €60 | = | 0.0% |
| Current assets | 29/58 | €88,240 | €35,648 | -€52,592 | -59.6% |
| Amounts receivable within one year | 40/41 | €35,415 | €29,820 | -€5,595 | -15.8% |
| Trade receivables | 40 | €35,415 | €29,820 | -€5,595 | -15.8% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €52,824 | €5,827 | -€46,997 | -89.0% |
| Total equity and liabilities | 10/49 | €93,712 | €43,902 | -€49,810 | -53.2% |
| Equity | 10/15 | €28,326 | €7,533 | -€20,792 | -73.4% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €20,000 | €20,000 | = | 0.0% |
| Distributable reserves | 133 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,826 | -€14,967 | -€20,792 | |
| Amounts payable | 17/49 | €65,386 | €36,369 | -€29,018 | -44.4% |
| Amounts payable after more than one year | 17 | €25,828 | €8,800 | -€17,028 | -65.9% |
| Financial debts | 170/4 | €25,828 | €8,800 | -€17,028 | -65.9% |
| Amounts payable within one year | 42/48 | €39,559 | €27,569 | -€11,989 | -30.3% |
| Current portion of amounts payable after more than one year | 42 | €16,629 | €17,363 | +€734 | +4.4% |
| Trade debts | 44 | €2,874 | €448 | -€2,426 | -84.4% |
| Suppliers | 440/4 | €2,874 | €448 | -€2,426 | -84.4% |
| Taxes, remuneration and social security | 45 | €17,147 | €7,718 | -€9,429 | -55.0% |
| Taxes | 450/3 | €13,872 | €4,873 | -€8,998 | -64.9% |
| Remuneration and social security | 454/9 | €3,276 | €2,845 | -€431 | -13.1% |
| Other amounts payable | 47/48 | €2,908 | €2,039 | -€869 | -29.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €468 | €1,639 | +€1,171 | +250% |
| Other operating charges | 640/8 | €0 | €2,861 | +€2,861 | |
| Gross operating margin | 9900 | €38,405 | €43,799 | +€5,394 | +14.0% |
| Operating profit (loss) | 9901 | €37,937 | €39,300 | +€1,363 | +3.6% |
| Financial income | 75/76B | €7 | €2 | -€5 | -71.8% |
| Recurring financial income | 75 | €7 | €2 | -€5 | -71.8% |
| Financial charges | 65/66B | €1,826 | €59,962 | +€58,136 | +3,183% |
| Recurring financial charges | 65 | €1,826 | €59,962 | +€58,136 | +3,183% |
| Profit (loss) for the period before taxes | 9903 | €36,118 | -€20,660 | -€56,778 | |
| Income taxes | 67/77 | €10,577 | €132 | -€10,445 | -98.8% |
| Profit (loss) for the period | 9904 | €25,540 | -€20,792 | -€46,333 | |
| Profit (loss) for the period to be appropriated | 9905 | €25,540 | -€20,792 | -€46,333 |
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 23 October 2026 via checked.be.