VA ET VIENT: 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.
VA ET VIENT
Largest movements
- Receivables within one year +€39,046
up €39,046 (+29.4%), from €132,820 to €171,866
of which Trade receivables: +€30,040
- Cash -€26,643
down €26,643 (-9.5%), from €280,044 to €253,401
mainly Investment in fixed assets (net) (-€75,026) and Contributions, distributions and other (-€71,783)
- Tangible fixed assets +€15,878
up €15,878 (+3.6%), from €436,534 to €452,412
of which Land and buildings: +€14,700
- Reserves +€27,805
up €27,805 (+5.3%), from €528,953 to €556,758
of which Distributable reserves: +€27,805
- Tax, wage and social debts +€25,509
up €25,509 (+24.8%), from €102,846 to €128,356
of which Taxes: +€21,994
- Debts after one year -€17,480
down €17,480 (-14.8%), from €117,885 to €100,406
- Staff costs +€24,758
up €24,758 (+10.3%), from €241,090 to €265,848
- Gross operating margin -€17,189
down €17,189 (-3.5%), from €492,327 to €475,137
- Taxes -€16,851
down €16,851 (-28.6%), from €59,005 to €42,154
- Depreciation +€5,929
up €5,929 (+11.1%), from €53,220 to €59,149
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 | €860,187 | €889,779 | +€29,592 | +3.4% |
| Fixed assets | 21/28 | €436,534 | €452,412 | +€15,878 | +3.6% |
| Tangible fixed assets | 22/27 | €436,534 | €452,412 | +€15,878 | +3.6% |
| Land and buildings | 22 | €418,302 | €433,002 | +€14,700 | +3.5% |
| Plant, machinery and equipment | 23 | €7,423 | €4,981 | -€2,442 | -32.9% |
| Furniture and vehicles | 24 | €10,809 | €14,429 | +€3,620 | +33.5% |
| Current assets | 29/58 | €423,653 | €437,368 | +€13,715 | +3.2% |
| Stocks and contracts in progress | 3 | €7,747 | €7,031 | -€715 | -9.2% |
| Stocks | 30/36 | €7,747 | €7,031 | -€715 | -9.2% |
| Amounts receivable within one year | 40/41 | €132,820 | €171,866 | +€39,046 | +29.4% |
| Trade receivables | 40 | €40,941 | €70,981 | +€30,040 | +73.4% |
| Other amounts receivable | 41 | €91,879 | €100,885 | +€9,006 | +9.8% |
| Cash at bank and in hand | 54/58 | €280,044 | €253,401 | -€26,643 | -9.5% |
| Deferred charges and accrued income | 490/1 | €3,043 | €5,069 | +€2,027 | +66.6% |
| Total equity and liabilities | 10/49 | €860,187 | €889,779 | +€29,592 | +3.4% |
| Equity | 10/15 | €588,953 | €616,758 | +€27,805 | +4.7% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Reserves | 13 | €528,953 | €556,758 | +€27,805 | +5.3% |
| Non-distributable reserves | 130/1 | €6,000 | €6,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,000 | €6,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,600 | €6,600 | = | 0.0% |
| Distributable reserves | 133 | €516,353 | €544,158 | +€27,805 | +5.4% |
| Amounts payable | 17/49 | €271,234 | €273,021 | +€1,787 | +0.7% |
| Amounts payable after more than one year | 17 | €117,885 | €100,406 | -€17,480 | -14.8% |
| Financial debts | 170/4 | €117,885 | €100,406 | -€17,480 | -14.8% |
| Amounts payable within one year | 42/48 | €148,135 | €168,679 | +€20,544 | +13.9% |
| Current portion of amounts payable after more than one year | 42 | €22,468 | €17,480 | -€4,988 | -22.2% |
| Trade debts | 44 | €15,846 | €15,194 | -€652 | -4.1% |
| Suppliers | 440/4 | €15,846 | €15,194 | -€652 | -4.1% |
| Taxes, remuneration and social security | 45 | €102,846 | €128,356 | +€25,509 | +24.8% |
| Taxes | 450/3 | €69,416 | €91,411 | +€21,994 | +31.7% |
| Remuneration and social security | 454/9 | €33,430 | €36,945 | +€3,515 | +10.5% |
| Other amounts payable | 47/48 | €6,975 | €7,650 | +€675 | +9.7% |
| Accrued charges and deferred income | 492/3 | €5,213 | €3,937 | -€1,277 | -24.5% |
| Remuneration, social security and pensions | 62 | €241,090 | €265,848 | +€24,758 | +10.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,220 | €59,149 | +€5,929 | +11.1% |
| Other operating charges | 640/8 | €8,300 | €6,524 | -€1,776 | -21.4% |
| Gross operating margin | 9900 | €492,327 | €475,137 | -€17,189 | -3.5% |
| Operating profit (loss) | 9901 | €189,716 | €143,617 | -€46,100 | -24.3% |
| Financial income | 75/76B | €4,903 | €4,276 | -€627 | -12.8% |
| Recurring financial income | 75 | €4,903 | €4,276 | -€627 | -12.8% |
| Financial charges | 65/66B | €8,519 | €6,151 | -€2,369 | -27.8% |
| Recurring financial charges | 65 | €8,519 | €6,151 | -€2,369 | -27.8% |
| Profit (loss) for the period before taxes | 9903 | €186,100 | €141,742 | -€44,358 | -23.8% |
| Income taxes | 67/77 | €59,005 | €42,154 | -€16,851 | -28.6% |
| Profit (loss) for the period | 9904 | €127,094 | €99,588 | -€27,507 | -21.6% |
| Profit (loss) for the period to be appropriated | 9905 | €127,094 | €99,588 | -€27,507 | -21.6% |
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 26 October 2026 via checked.be.