DANIEL VILVOYE: 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.
DANIEL VILVOYE
Largest movements
- Financial fixed assets -€51,228
down €51,228 (-98.1%), from €52,228 to €1,000
- Cash -€19,598
down €19,598 (-11.2%), from €175,624 to €156,026
mainly Contributions, distributions and other (-€84,500) and Trade debts (-€10,172)
- Tangible fixed assets +€10,098
up €10,098 (+25.3%), from €39,912 to €50,010
of which Other tangible fixed assets: +€7,381
- Reserves -€63,000
down €63,000 (-35.0%), from €179,760 to €116,760
- Trade debts -€10,172
down €10,172 (-45.0%), from €22,618 to €12,446
- Other debts +€8,063
up €8,063, from €0 to €8,063
- Gross operating margin -€6,760
down €6,760 (-14.2%), from €47,587 to €40,827
- Taxes -€2,141
down €2,141 (-19.7%), from €10,866 to €8,726
- Financial income -€1,224
down €1,224 (-57.1%), from €2,145 to €921
- Financial charges -€1,077
down €1,077 (-83.2%), from €1,295 to €218
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 | €290,270 | €227,086 | -€63,184 | -21.8% |
| Fixed assets | 21/28 | €92,140 | €51,010 | -€41,130 | -44.6% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €39,912 | €50,010 | +€10,098 | +25.3% |
| Plant, machinery and equipment | 23 | €52 | €0 | -€52 | -100% |
| Furniture and vehicles | 24 | €0 | €2,769 | +€2,769 | |
| Other tangible fixed assets | 26 | €39,860 | €47,241 | +€7,381 | +18.5% |
| Financial fixed assets | 28 | €52,228 | €1,000 | -€51,228 | -98.1% |
| Current assets | 29/58 | €198,130 | €176,076 | -€22,054 | -11.1% |
| Stocks and contracts in progress | 3 | €2,054 | €1,894 | -€160 | -7.8% |
| Stocks | 30/36 | €2,054 | €1,894 | -€160 | -7.8% |
| Amounts receivable within one year | 40/41 | €17,017 | €14,999 | -€2,018 | -11.9% |
| Trade receivables | 40 | €16,797 | €14,725 | -€2,072 | -12.3% |
| Other amounts receivable | 41 | €220 | €274 | +€54 | +24.7% |
| Cash at bank and in hand | 54/58 | €175,624 | €156,026 | -€19,598 | -11.2% |
| Deferred charges and accrued income | 490/1 | €3,434 | €3,156 | -€278 | -8.1% |
| Total equity and liabilities | 10/49 | €290,270 | €227,086 | -€63,184 | -21.8% |
| Equity | 10/15 | €261,847 | €199,324 | -€62,523 | -23.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €179,760 | €116,760 | -€63,000 | -35.0% |
| Distributable reserves | 133 | €179,760 | €116,760 | -€63,000 | -35.0% |
| Profit (loss) carried forward | 14 | €63,487 | €63,964 | +€477 | +0.8% |
| Amounts payable | 17/49 | €28,423 | €27,762 | -€662 | -2.3% |
| Amounts payable within one year | 42/48 | €28,423 | €27,762 | -€662 | -2.3% |
| Financial debts | 43 | €0 | €1,682 | +€1,682 | |
| Credit institutions | 430/8 | €0 | €1,682 | +€1,682 | |
| Trade debts | 44 | €22,618 | €12,446 | -€10,172 | -45.0% |
| Suppliers | 440/4 | €22,618 | €12,446 | -€10,172 | -45.0% |
| Taxes, remuneration and social security | 45 | €5,805 | €5,571 | -€235 | -4.0% |
| Taxes | 450/3 | €5,805 | €5,571 | -€235 | -4.0% |
| Other amounts payable | 47/48 | €0 | €8,063 | +€8,063 | |
| Turnover | 70 | €0 | - | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,576 | €9,178 | -€397 | -4.1% |
| Other operating charges | 640/8 | €1,596 | €1,649 | +€53 | +3.3% |
| Gross operating margin | 9900 | €47,587 | €40,827 | -€6,760 | -14.2% |
| Operating profit (loss) | 9901 | €36,415 | €29,999 | -€6,416 | -17.6% |
| Financial income | 75/76B | €2,145 | €921 | -€1,224 | -57.1% |
| Recurring financial income | 75 | €2,145 | €921 | -€1,224 | -57.1% |
| Financial charges | 65/66B | €1,295 | €218 | -€1,077 | -83.2% |
| Recurring financial charges | 65 | €1,295 | €218 | -€1,077 | -83.2% |
| Profit (loss) for the period before taxes | 9903 | €37,265 | €30,703 | -€6,563 | -17.6% |
| Income taxes | 67/77 | €10,866 | €8,726 | -€2,141 | -19.7% |
| Profit (loss) for the period | 9904 | €26,399 | €21,977 | -€4,422 | -16.8% |
| Profit (loss) for the period to be appropriated | 9905 | €26,399 | €21,977 | -€4,422 | -16.8% |
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 16 October 2026 via checked.be.