VI.PI: 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.
VI.PI
Largest movements
- Cash -€75,859
down €75,859 (-40.5%), from €187,269 to €111,410
mainly Net result for the year (-€38,570) and Investment in fixed assets (net) (-€27,359)
- Tangible fixed assets +€22,221
up €22,221 (+283%), from €7,843 to €30,064
- Profit (loss) carried forward -€38,570
down €38,570 (-33.5%), from €115,163 to €76,593
- Trade debts -€8,145
down €8,145 (-50.0%), from €16,276 to €8,131
- Other debts -€2,850
no longer reported in 2025 (was €2,850)
- Gross operating margin -€7,555
down €7,555 (-30.2%), from -€24,986 to -€32,541
- Financial charges -€973
down €973 (-64.9%), from €1,500 to €527
- Depreciation -€945
down €945 (-15.5%), from €6,082 to €5,137
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 | €217,524 | €166,121 | -€51,402 | -23.6% |
| Fixed assets | 21/28 | €8,728 | €30,949 | +€22,221 | +255% |
| Tangible fixed assets | 22/27 | €7,843 | €30,064 | +€22,221 | +283% |
| Furniture and vehicles | 24 | €7,843 | €30,064 | +€22,221 | +283% |
| Financial fixed assets | 28 | €885 | €885 | = | 0.0% |
| Current assets | 29/58 | €208,796 | €135,172 | -€73,624 | -35.3% |
| Amounts receivable within one year | 40/41 | €18,594 | €18,792 | +€197 | +1.1% |
| Trade receivables | 40 | €18,594 | €15,786 | -€2,809 | -15.1% |
| Other amounts receivable | 41 | - | €3,006 | +€3,006 | |
| Cash at bank and in hand | 54/58 | €187,269 | €111,410 | -€75,859 | -40.5% |
| Deferred charges and accrued income | 490/1 | €2,932 | €4,970 | +€2,038 | +69.5% |
| Total equity and liabilities | 10/49 | €217,524 | €166,121 | -€51,402 | -23.6% |
| Equity | 10/15 | €135,623 | €97,053 | -€38,570 | -28.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €115,163 | €76,593 | -€38,570 | -33.5% |
| Amounts payable | 17/49 | €81,901 | €69,068 | -€12,832 | -15.7% |
| Amounts payable after more than one year | 17 | €62,167 | €60,874 | -€1,294 | -2.1% |
| Financial debts | 170/4 | €62,167 | €60,874 | -€1,294 | -2.1% |
| Amounts payable within one year | 42/48 | €19,654 | €8,131 | -€11,523 | -58.6% |
| Trade debts | 44 | €16,276 | €8,131 | -€8,145 | -50.0% |
| Suppliers | 440/4 | €16,276 | €8,131 | -€8,145 | -50.0% |
| Taxes, remuneration and social security | 45 | €528 | - | -€528 | |
| Taxes | 450/3 | €528 | - | -€528 | |
| Other amounts payable | 47/48 | €2,850 | - | -€2,850 | |
| Accrued charges and deferred income | 492/3 | €79 | €64 | -€15 | -19.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,082 | €5,137 | -€945 | -15.5% |
| Other operating charges | 640/8 | €663 | €582 | -€81 | -12.2% |
| Gross operating margin | 9900 | -€24,986 | -€32,541 | -€7,555 | -30.2% |
| Operating profit (loss) | 9901 | -€31,731 | -€38,260 | -€6,529 | -20.6% |
| Financial income | 75/76B | €508 | €313 | -€195 | -38.4% |
| Recurring financial income | 75 | €508 | €313 | -€195 | -38.4% |
| Financial charges | 65/66B | €1,500 | €527 | -€973 | -64.9% |
| Recurring financial charges | 65 | €1,500 | €527 | -€973 | -64.9% |
| Profit (loss) for the period before taxes | 9903 | -€32,723 | -€38,474 | -€5,751 | -17.6% |
| Income taxes | 67/77 | €187 | €96 | -€92 | -49.0% |
| Profit (loss) for the period | 9904 | -€32,911 | -€38,570 | -€5,659 | -17.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€32,911 | -€38,570 | -€5,659 | -17.2% |
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 15 October 2026 via checked.be.