VATIBO - DEMAN: 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.
VATIBO - DEMAN
Largest movements
- Tangible fixed assets +€888,505
up €888,505 (+1,196%), from €74,293 to €962,798
of which Land and buildings: +€797,389
- Cash +€289,374
up €289,374 (+7,050%), from €4,105 to €293,478
mainly Net result for the year (+€548,443) and Debts after one year (+€284,335)
- Financial fixed assets -€175,000
no longer reported in 2025 (was €175,000)
- Receivables within one year -€47,149
down €47,149 (-23.4%), from €201,871 to €154,722
- Profit (loss) carried forward +€298,443
up €298,443 (+492%), from €60,698 to €359,142
- Debts after one year +€284,335
new in 2025: €284,335
- Reserves +€250,000
up €250,000 (+67.0%), from €373,230 to €623,230
of which Distributable reserves: +€250,000
- Current portion of long-term debt +€76,289
new in 2025: €76,289
- Tax, wage and social debts +€44,654
up €44,654 (+1,702%), from €2,623 to €47,277
of which Taxes: +€40,937
- Financial income +€455,006
up €455,006 (+5,423%), from €8,391 to €463,397
- Gross operating margin +€253,268
up €253,268 (+4,819%), from €5,256 to €258,524
- Taxes +€69,016
up €69,016 (+5,006%), from €1,379 to €70,395
- Staff costs +€44,559
new in 2025: €44,559
- Depreciation +€32,562
up €32,562 (+455%), from €7,153 to €39,715
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 | €455,269 | €1,410,999 | +€955,729 | +210% |
| Fixed assets | 21/28 | €249,293 | €962,798 | +€713,505 | +286% |
| Tangible fixed assets | 22/27 | €74,293 | €962,798 | +€888,505 | +1,196% |
| Land and buildings | 22 | €69,505 | €866,894 | +€797,389 | +1,147% |
| Plant, machinery and equipment | 23 | €304 | €6,713 | +€6,408 | +2,105% |
| Furniture and vehicles | 24 | €4,484 | €89,191 | +€84,708 | +1,889% |
| Financial fixed assets | 28 | €175,000 | - | -€175,000 | |
| Current assets | 29/58 | €205,976 | €448,200 | +€242,225 | +118% |
| Amounts receivable within one year | 40/41 | €201,871 | €154,722 | -€47,149 | -23.4% |
| Other amounts receivable | 41 | €201,871 | €154,722 | -€47,149 | -23.4% |
| Cash at bank and in hand | 54/58 | €4,105 | €293,478 | +€289,374 | +7,050% |
| Total equity and liabilities | 10/49 | €455,269 | €1,410,999 | +€955,729 | +210% |
| Equity | 10/15 | €452,520 | €1,000,964 | +€548,443 | +121% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €373,230 | €623,230 | +€250,000 | +67.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €371,370 | €621,370 | +€250,000 | +67.3% |
| Profit (loss) carried forward | 14 | €60,698 | €359,142 | +€298,443 | +492% |
| Amounts payable | 17/49 | €2,749 | €410,035 | +€407,286 | +14,816% |
| Amounts payable after more than one year | 17 | - | €284,335 | +€284,335 | |
| Financial debts | 170/4 | - | €284,335 | +€284,335 | |
| Amounts payable within one year | 42/48 | €2,749 | €125,700 | +€122,951 | +4,473% |
| Current portion of amounts payable after more than one year | 42 | - | €76,289 | +€76,289 | |
| Trade debts | 44 | €126 | €2,134 | +€2,008 | +1,594% |
| Suppliers | 440/4 | €126 | €2,134 | +€2,008 | +1,594% |
| Taxes, remuneration and social security | 45 | €2,623 | €47,277 | +€44,654 | +1,702% |
| Taxes | 450/3 | €2,219 | €43,156 | +€40,937 | +1,845% |
| Remuneration and social security | 454/9 | €404 | €4,121 | +€3,717 | +921% |
| Remuneration, social security and pensions | 62 | - | €44,559 | +€44,559 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,153 | €39,715 | +€32,562 | +455% |
| Other operating charges | 640/8 | €3,910 | €8,914 | +€5,004 | +128% |
| Gross operating margin | 9900 | €5,256 | €258,524 | +€253,268 | +4,819% |
| Operating profit (loss) | 9901 | -€5,807 | €165,336 | +€171,143 | |
| Financial income | 75/76B | €8,391 | €463,397 | +€455,006 | +5,423% |
| Recurring financial income | 75 | €8,391 | €463,397 | +€455,006 | +5,423% |
| Financial charges | 65/66B | €228 | €9,895 | +€9,668 | +4,247% |
| Recurring financial charges | 65 | €228 | €9,895 | +€9,668 | +4,247% |
| Profit (loss) for the period before taxes | 9903 | €2,356 | €618,838 | +€616,482 | +26,163% |
| Income taxes | 67/77 | €1,379 | €70,395 | +€69,016 | +5,006% |
| Profit (loss) for the period | 9904 | €978 | €548,443 | +€547,466 | +55,994% |
| Profit (loss) for the period to be appropriated | 9905 | €978 | €548,443 | +€547,466 | +55,994% |
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 21 October 2026 via checked.be.