P-Vichte: 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.
P-Vichte
Largest movements
- Tangible fixed assets +€140,949
up €140,949 (+143.8%), from €98,006 to €238,955
of which Land and buildings: +€163,341
- Cash -€19,949
down €19,949 (-23.2%), from €85,805 to €65,856
mainly Investment in fixed assets (net) (-€206,109) and Contributions, distributions and other (-€25,000)
- Debts after one year +€127,396
up €127,396 (+1491.5%), from €8,542 to €135,938
of which Financial debts: +€122,322
- Tax, wage and social debts -€6,469
down €6,469 (-39.5%), from €16,385 to €9,916
- Reserves +€5,483
up €5,483 (+3.9%), from €141,351 to €146,834
- Depreciation +€30,085
up €30,085 (+85.6%), from €35,130 to €65,215
- Gross operating margin +€14,782
up €14,782 (+14.2%), from €104,185 to €118,966
- Financial charges +€2,309
up €2,309 (+69.3%), from €3,332 to €5,641
- Taxes -€1,693
down €1,693 (-12.3%), from €13,809 to €12,116
- Other operating charges -€1,690
down €1,690 (-23.5%), from €7,200 to €5,511
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 | €205,591 | €329,902 | +€124,310 | +60.5% |
| Fixed assets | 21/28 | €98,077 | €238,971 | +€140,894 | +143.7% |
| Intangible fixed assets | 21 | €72 | €17 | -€55 | -76.8% |
| Tangible fixed assets | 22/27 | €98,006 | €238,955 | +€140,949 | +143.8% |
| Land and buildings | 22 | - | €163,341 | +€163,341 | |
| Plant, machinery and equipment | 23 | €16,945 | €19,510 | +€2,566 | +15.1% |
| Furniture and vehicles | 24 | €13,850 | €8,259 | -€5,591 | -40.4% |
| Leasing and similar rights | 25 | €36,529 | €21,615 | -€14,914 | -40.8% |
| Other tangible fixed assets | 26 | €30,682 | €26,229 | -€4,453 | -14.5% |
| Current assets | 29/58 | €107,514 | €90,930 | -€16,584 | -15.4% |
| Stocks and contracts in progress | 3 | €8,357 | €11,554 | +€3,198 | +38.3% |
| Stocks | 30/36 | €8,357 | €11,554 | +€3,198 | +38.3% |
| Amounts receivable within one year | 40/41 | €4,170 | €1,112 | -€3,058 | -73.3% |
| Trade receivables | 40 | €110 | - | -€110 | |
| Other amounts receivable | 41 | €4,060 | €1,112 | -€2,948 | -72.6% |
| Cash at bank and in hand | 54/58 | €85,805 | €65,856 | -€19,949 | -23.2% |
| Deferred charges and accrued income | 490/1 | €9,182 | €12,407 | +€3,226 | +35.1% |
| Total equity and liabilities | 10/49 | €205,591 | €329,902 | +€124,310 | +60.5% |
| Equity | 10/15 | €151,351 | €156,834 | +€5,483 | +3.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €141,351 | €146,834 | +€5,483 | +3.9% |
| Distributable reserves | 133 | €141,351 | €146,834 | +€5,483 | +3.9% |
| Amounts payable | 17/49 | €54,240 | €173,067 | +€118,827 | +219.1% |
| Amounts payable after more than one year | 17 | €8,542 | €135,938 | +€127,396 | +1491.5% |
| Financial debts | 170/4 | €7,200 | €129,522 | +€122,322 | +1699.0% |
| Other amounts payable | 178/9 | €1,342 | €6,416 | +€5,074 | +378.1% |
| Amounts payable within one year | 42/48 | €45,699 | €37,129 | -€8,569 | -18.8% |
| Current portion of amounts payable after more than one year | 42 | €20,288 | €20,271 | -€17 | -0.1% |
| Trade debts | 44 | €9,026 | €6,942 | -€2,084 | -23.1% |
| Suppliers | 440/4 | €9,026 | €6,942 | -€2,084 | -23.1% |
| Taxes, remuneration and social security | 45 | €16,385 | €9,916 | -€6,469 | -39.5% |
| Taxes | 450/3 | €16,385 | €9,916 | -€6,469 | -39.5% |
| Non-recurring operating income | 76A | €1,430 | - | -€1,430 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,130 | €65,215 | +€30,085 | +85.6% |
| Other operating charges | 640/8 | €7,200 | €5,511 | -€1,690 | -23.5% |
| Non-recurring operating charges | 66A | €5,350 | - | -€5,350 | |
| Gross operating margin | 9900 | €104,185 | €118,966 | +€14,782 | +14.2% |
| Operating profit (loss) | 9901 | €56,504 | €48,241 | -€8,263 | -14.6% |
| Financial charges | 65/66B | €3,332 | €5,641 | +€2,309 | +69.3% |
| Recurring financial charges | 65 | €3,332 | €5,641 | +€2,309 | +69.3% |
| Profit (loss) for the period before taxes | 9903 | €53,172 | €42,600 | -€10,572 | -19.9% |
| Income taxes | 67/77 | €13,809 | €12,116 | -€1,693 | -12.3% |
| Profit (loss) for the period | 9904 | €39,363 | €30,483 | -€8,879 | -22.6% |
| Profit (loss) for the period to be appropriated | 9905 | €39,363 | €30,483 | -€8,879 | -22.6% |
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 8 October 2026 via checked.be.