DR. VIAENE ELS: what changed
DR. VIAENE ELS
Largest movements
- Tangible fixed assets +€86,740
up €86,740 (+144%), from €60,123 to €146,863
of which Leasing and similar rights: +€74,386
- Cash -€82,359
down €82,359 (-28.3%), from €290,737 to €208,379
mainly Contributions, distributions and other (-€185,774) and Investment in fixed assets (net) (-€118,047)
- Intangible fixed assets -€30,000
down €30,000 (-25.0%), from €120,000 to €90,000
- Other debts -€73,764
down €73,764 (-26.6%), from €277,797 to €204,032
- Reserves +€29,590
up €29,590 (+10.2%), from €291,024 to €320,614
of which Distributable reserves: +€134,840
- Debts after one year +€27,799
up €27,799 (+109%), from €25,474 to €53,273
- Tax, wage and social debts -€19,182
down €19,182 (-91.0%), from €21,082 to €1,900
- Accrued charges and deferred income +€11,990
up €11,990 (+466%), from €2,571 to €14,561
- Gross operating margin +€22,886
up €22,886 (+6.7%), from €339,834 to €362,720
- Financial charges +€13,458
up €13,458 (+350%), from €3,840 to €17,298
- Depreciation +€13,079
up €13,079 (+27.1%), from €48,227 to €61,307
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 | €680,261 | €660,062 | -€20,199 | -3.0% |
| Fixed assets | 21/28 | €180,123 | €236,863 | +€56,740 | +31.5% |
| Intangible fixed assets | 21 | €120,000 | €90,000 | -€30,000 | -25.0% |
| Tangible fixed assets | 22/27 | €60,123 | €146,863 | +€86,740 | +144% |
| Plant, machinery and equipment | 23 | €589 | - | -€589 | |
| Furniture and vehicles | 24 | €5,253 | €26,530 | +€21,277 | +405% |
| Leasing and similar rights | 25 | - | €74,386 | +€74,386 | |
| Other tangible fixed assets | 26 | €54,281 | €45,947 | -€8,334 | -15.4% |
| Current assets | 29/58 | €500,138 | €423,198 | -€76,939 | -15.4% |
| Amounts receivable within one year | 40/41 | €208,681 | €214,589 | +€5,908 | +2.8% |
| Trade receivables | 40 | €331 | €3,951 | +€3,620 | +1,095% |
| Other amounts receivable | 41 | €208,350 | €210,638 | +€2,288 | +1.1% |
| Cash at bank and in hand | 54/58 | €290,737 | €208,379 | -€82,359 | -28.3% |
| Deferred charges and accrued income | 490/1 | €720 | €231 | -€489 | -68.0% |
| Total equity and liabilities | 10/49 | €680,261 | €660,062 | -€20,199 | -3.0% |
| Equity | 10/15 | €309,624 | €339,214 | +€29,590 | +9.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €291,024 | €320,614 | +€29,590 | +10.2% |
| Tax-exempt reserves | 132 | €105,250 | - | -€105,250 | |
| Distributable reserves | 133 | €185,774 | €320,614 | +€134,840 | +72.6% |
| Amounts payable | 17/49 | €370,637 | €320,848 | -€49,789 | -13.4% |
| Amounts payable after more than one year | 17 | €25,474 | €53,273 | +€27,799 | +109% |
| Financial debts | 170/4 | €25,474 | €53,273 | +€27,799 | +109% |
| Amounts payable within one year | 42/48 | €342,592 | €253,014 | -€89,578 | -26.1% |
| Current portion of amounts payable after more than one year | 42 | €43,467 | €47,046 | +€3,579 | +8.2% |
| Trade debts | 44 | €246 | €35 | -€210 | -85.7% |
| Suppliers | 440/4 | €246 | €35 | -€210 | -85.7% |
| Taxes, remuneration and social security | 45 | €21,082 | €1,900 | -€19,182 | -91.0% |
| Taxes | 450/3 | €21,082 | €1,900 | -€19,182 | -91.0% |
| Other amounts payable | 47/48 | €277,797 | €204,032 | -€73,764 | -26.6% |
| Accrued charges and deferred income | 492/3 | €2,571 | €14,561 | +€11,990 | +466% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,227 | €61,307 | +€13,079 | +27.1% |
| Other operating charges | 640/8 | €1,126 | €732 | -€394 | -35.0% |
| Gross operating margin | 9900 | €339,834 | €362,720 | +€22,886 | +6.7% |
| Operating profit (loss) | 9901 | €290,481 | €300,682 | +€10,201 | +3.5% |
| Financial income | 75/76B | €3,165 | €1,911 | -€1,253 | -39.6% |
| Recurring financial income | 75 | €3,165 | €1,911 | -€1,253 | -39.6% |
| Financial charges | 65/66B | €3,840 | €17,298 | +€13,458 | +350% |
| Recurring financial charges | 65 | €3,840 | €17,298 | +€13,458 | +350% |
| Profit (loss) for the period before taxes | 9903 | €289,805 | €285,295 | -€4,510 | -1.6% |
| Income taxes | 67/77 | €71,132 | €69,932 | -€1,200 | -1.7% |
| Profit (loss) for the period | 9904 | €218,674 | €215,364 | -€3,310 | -1.5% |
| Transfer from tax-exempt reserves | 789 | €42,100 | €105,250 | +€63,150 | +150% |
| Profit (loss) for the period to be appropriated | 9905 | €260,774 | €320,614 | +€59,840 | +22.9% |
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 3 November 2026 via checked.be.