Team Vicpaul: 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.
Team Vicpaul
Largest movements
- Cash +€69,512
up €69,512 (+254%), from €27,335 to €96,847
mainly Net result for the year (+€55,085) and Depreciation (+€45,892)
- Tangible fixed assets -€29,456
down €29,456 (-12.5%), from €235,029 to €205,573
of which Land and buildings: -€16,760
- Intangible fixed assets -€8,813
down €8,813 (-67.8%), from €13,002 to €4,189
- Receivables within one year +€5,017
up €5,017 (+465%), from €1,080 to €6,097
- Reserves +€55,000
up €55,000 (+74.2%), from €74,166 to €129,166
- Trade debts -€27,478
down €27,478 (-57.0%), from €48,224 to €20,746
- Debts after one year -€23,477
down €23,477 (-23.5%), from €100,000 to €76,523
- Current portion of long-term debt +€13,025
new in 2025: €13,025
- Other debts +€10,865
new in 2025: €10,865
- Gross operating margin +€56,323
up €56,323 (+53.3%), from €105,723 to €162,045
- Taxes +€16,812
up €16,812 (+1,062%), from €1,583 to €18,395
- Staff costs -€8,789
down €8,789 (-18.7%), from €47,064 to €38,275
- Financial charges +€1,843
up €1,843 (+76.4%), from €2,411 to €4,254
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 | €276,446 | €312,706 | +€36,260 | +13.1% |
| Fixed assets | 21/28 | €248,031 | €209,762 | -€38,269 | -15.4% |
| Intangible fixed assets | 21 | €13,002 | €4,189 | -€8,813 | -67.8% |
| Tangible fixed assets | 22/27 | €235,029 | €205,573 | -€29,456 | -12.5% |
| Land and buildings | 22 | €161,322 | €144,562 | -€16,760 | -10.4% |
| Plant, machinery and equipment | 23 | €21,004 | €20,606 | -€397 | -1.9% |
| Furniture and vehicles | 24 | €52,703 | €40,405 | -€12,299 | -23.3% |
| Current assets | 29/58 | €28,415 | €102,944 | +€74,529 | +262% |
| Amounts receivable within one year | 40/41 | €1,080 | €6,097 | +€5,017 | +465% |
| Trade receivables | 40 | €1,080 | €6,097 | +€5,017 | +465% |
| Cash at bank and in hand | 54/58 | €27,335 | €96,847 | +€69,512 | +254% |
| Total equity and liabilities | 10/49 | €276,446 | €312,706 | +€36,260 | +13.1% |
| Equity | 10/15 | €100,286 | €155,370 | +€55,085 | +54.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €74,166 | €129,166 | +€55,000 | +74.2% |
| Distributable reserves | 133 | €74,166 | €129,166 | +€55,000 | +74.2% |
| Profit (loss) carried forward | 14 | €7,519 | €7,604 | +€85 | +1.1% |
| Amounts payable | 17/49 | €176,160 | €157,336 | -€18,825 | -10.7% |
| Amounts payable after more than one year | 17 | €100,000 | €76,523 | -€23,477 | -23.5% |
| Financial debts | 170/4 | €100,000 | €76,523 | -€23,477 | -23.5% |
| Amounts payable within one year | 42/48 | €76,160 | €72,948 | -€3,212 | -4.2% |
| Current portion of amounts payable after more than one year | 42 | - | €13,025 | +€13,025 | |
| Trade debts | 44 | €48,224 | €20,746 | -€27,478 | -57.0% |
| Suppliers | 440/4 | €48,224 | €20,746 | -€27,478 | -57.0% |
| Taxes, remuneration and social security | 45 | €27,936 | €28,312 | +€376 | +1.3% |
| Taxes | 450/3 | €14,958 | €18,336 | +€3,377 | +22.6% |
| Remuneration and social security | 454/9 | €12,978 | €9,976 | -€3,002 | -23.1% |
| Other amounts payable | 47/48 | - | €10,865 | +€10,865 | |
| Accrued charges and deferred income | 492/3 | - | €7,865 | +€7,865 | |
| Remuneration, social security and pensions | 62 | €47,064 | €38,275 | -€8,789 | -18.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,440 | €45,892 | -€547 | -1.2% |
| Other operating charges | 640/8 | €878 | €144 | -€734 | -83.6% |
| Gross operating margin | 9900 | €105,723 | €162,045 | +€56,323 | +53.3% |
| Operating profit (loss) | 9901 | €11,340 | €77,734 | +€66,394 | +585% |
| Financial income | 75/76B | €3 | - | -€3 | |
| Recurring financial income | 75 | €3 | - | -€3 | |
| Financial charges | 65/66B | €2,411 | €4,254 | +€1,843 | +76.4% |
| Recurring financial charges | 65 | €2,411 | €4,254 | +€1,843 | +76.4% |
| Profit (loss) for the period before taxes | 9903 | €8,932 | €73,480 | +€64,547 | +723% |
| Income taxes | 67/77 | €1,583 | €18,395 | +€16,812 | +1,062% |
| Profit (loss) for the period | 9904 | €7,349 | €55,085 | +€47,736 | +650% |
| Profit (loss) for the period to be appropriated | 9905 | €7,349 | €55,085 | +€47,736 | +650% |
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 22 October 2026 via checked.be.