V.I.C.: 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.
V.I.C.
Largest movements
- Cash -€38,079
down €38,079 (-69.5%), from €54,804 to €16,725
mainly Net result for the year (-€34,821) and Investment in fixed assets (net) (-€25,736)
- Profit (loss) carried forward -€23,508
down €23,508 (-7.2%), from €327,680 to €304,172
- Taxes -€57,565
no longer reported in 2025 (was €57,565)
- Depreciation -€7,822
down €7,822 (-19.7%), from €39,680 to €31,858
- Gross operating margin +€4,600
up €4,600, from -€3,329 to €1,271
- Other operating charges +€2,957
up €2,957 (+60.0%), from €4,932 to €7,889
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 | €1,270,559 | €1,223,383 | -€47,176 | -3.7% |
| Fixed assets | 21/28 | €1,184,562 | €1,178,441 | -€6,121 | -0.5% |
| Tangible fixed assets | 22/27 | €1,184,495 | €1,178,374 | -€6,121 | -0.5% |
| Land and buildings | 22 | €1,165,278 | €1,137,706 | -€27,572 | -2.4% |
| Plant, machinery and equipment | 23 | €19,217 | €40,668 | +€21,451 | +111.6% |
| Financial fixed assets | 28 | €67 | €67 | = | 0.0% |
| Current assets | 29/58 | €85,996 | €44,942 | -€41,054 | -47.7% |
| Amounts receivable within one year | 40/41 | €30,300 | €26,027 | -€4,273 | -14.1% |
| Other amounts receivable | 41 | €30,300 | €26,027 | -€4,273 | -14.1% |
| Cash at bank and in hand | 54/58 | €54,804 | €16,725 | -€38,079 | -69.5% |
| Deferred charges and accrued income | 490/1 | €893 | €2,190 | +€1,298 | +145.4% |
| Total equity and liabilities | 10/49 | €1,270,559 | €1,223,383 | -€47,176 | -3.7% |
| Equity | 10/15 | €1,079,638 | €1,044,817 | -€34,821 | -3.2% |
| Contributions | 10/11 | €340,000 | €340,000 | = | 0.0% |
| Reserves | 13 | €411,958 | €400,645 | -€11,313 | -2.7% |
| Tax-exempt reserves | 132 | €371,158 | €359,845 | -€11,313 | -3.0% |
| Distributable reserves | 133 | €40,800 | €40,800 | = | 0.0% |
| Profit (loss) carried forward | 14 | €327,680 | €304,172 | -€23,508 | -7.2% |
| Provisions and deferred taxes | 16 | €123,719 | €119,948 | -€3,771 | -3.0% |
| Deferred taxes | 168 | €123,719 | €119,948 | -€3,771 | -3.0% |
| Amounts payable | 17/49 | €67,201 | €58,617 | -€8,584 | -12.8% |
| Amounts payable within one year | 42/48 | €67,201 | €58,617 | -€8,584 | -12.8% |
| Trade debts | 44 | €9,636 | €1,052 | -€8,584 | -89.1% |
| Suppliers | 440/4 | €9,636 | €1,052 | -€8,584 | -89.1% |
| Taxes, remuneration and social security | 45 | €57,565 | €57,565 | = | 0.0% |
| Taxes | 450/3 | €57,565 | €57,565 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,680 | €31,858 | -€7,822 | -19.7% |
| Other operating charges | 640/8 | €4,932 | €7,889 | +€2,957 | +60.0% |
| Non-recurring operating charges | 66A | €82,720 | - | -€82,720 | |
| Gross operating margin | 9900 | -€3,329 | €1,271 | +€4,600 | |
| Operating profit (loss) | 9901 | -€130,661 | -€38,475 | +€92,186 | +70.6% |
| Financial charges | 65/66B | €135 | €117 | -€18 | -13.5% |
| Recurring financial charges | 65 | €135 | €117 | -€18 | -13.5% |
| Profit (loss) for the period before taxes | 9903 | -€130,796 | -€38,592 | +€92,204 | +70.5% |
| Transfer from deferred taxes | 780 | €98,039 | €3,771 | -€94,268 | -96.2% |
| Income taxes | 67/77 | €57,565 | - | -€57,565 | |
| Profit (loss) for the period | 9904 | -€90,322 | -€34,821 | +€55,501 | +61.4% |
| Transfer from tax-exempt reserves | 789 | €294,117 | €11,313 | -€282,804 | -96.2% |
| Profit (loss) for the period to be appropriated | 9905 | €203,795 | -€23,508 | -€227,303 |
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 12 October 2026 via checked.be.