Vi-Projects: what changed
Two fiscal 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-Projects
Largest movements
- Tangible fixed assets +€149,654
up €149,654 (+239.9%), from €62,389 to €212,044
of which Land and buildings: +€183,622
- Cash +€68,872
up €68,872 (+202.9%), from €33,937 to €102,809
mainly Debts after one year (+€162,884) and Other debts (+€17,999)
- Receivables within one year -€4,805
down €4,805 (-33.9%), from €14,180 to €9,375
of which Other amounts receivable: -€4,367
- Debts after one year +€162,884
new in 2025: €162,884
- Other debts +€17,999
up €17,999 (+36.2%), from €49,714 to €67,713
- Reserves +€15,606
up €15,606 (+31.5%), from €49,592 to €65,198
- Current portion of long-term debt +€10,297
new in 2025: €10,297
- Tax, wage and social debts +€6,796
up €6,796 (+358.9%), from €1,894 to €8,690
of which Taxes: +€6,796
- Depreciation -€7,489
down €7,489 (-46.2%), from €16,210 to €8,721
- Gross operating margin +€5,243
up €5,243 (+17.7%), from €29,555 to €34,799
- Financial charges +€1,652
up €1,652 (+41.3%), from €3,997 to €5,649
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 | €112,552 | €327,033 | +€214,481 | +190.6% |
| Fixed assets | 21/28 | €62,479 | €212,134 | +€149,654 | +239.5% |
| Tangible fixed assets | 22/27 | €62,389 | €212,044 | +€149,654 | +239.9% |
| Land and buildings | 22 | - | €183,622 | +€183,622 | |
| Plant, machinery and equipment | 23 | €3,428 | €2,303 | -€1,125 | -32.8% |
| Furniture and vehicles | 24 | €56,328 | €23,828 | -€32,499 | -57.7% |
| Other tangible fixed assets | 26 | €2,634 | €2,290 | -€344 | -13.1% |
| Financial fixed assets | 28 | €90 | €90 | = | 0.0% |
| Current assets | 29/58 | €50,072 | €114,899 | +€64,827 | +129.5% |
| Amounts receivable within one year | 40/41 | €14,180 | €9,375 | -€4,805 | -33.9% |
| Trade receivables | 40 | €9,312 | €8,874 | -€438 | -4.7% |
| Other amounts receivable | 41 | €4,868 | €501 | -€4,367 | -89.7% |
| Cash at bank and in hand | 54/58 | €33,937 | €102,809 | +€68,872 | +202.9% |
| Deferred charges and accrued income | 490/1 | €1,956 | €2,715 | +€759 | +38.8% |
| Total equity and liabilities | 10/49 | €112,552 | €327,033 | +€214,481 | +190.6% |
| Equity | 10/15 | €55,792 | €71,398 | +€15,606 | +28.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €49,592 | €65,198 | +€15,606 | +31.5% |
| Distributable reserves | 133 | €49,592 | €65,198 | +€15,606 | +31.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €56,760 | €255,635 | +€198,875 | +350.4% |
| Amounts payable after more than one year | 17 | - | €162,884 | +€162,884 | |
| Financial debts | 170/4 | - | €162,884 | +€162,884 | |
| Amounts payable within one year | 42/48 | €52,520 | €88,771 | +€36,251 | +69.0% |
| Current portion of amounts payable after more than one year | 42 | - | €10,297 | +€10,297 | |
| Trade debts | 44 | €913 | €2,071 | +€1,158 | +126.9% |
| Suppliers | 440/4 | €913 | €2,071 | +€1,158 | +126.9% |
| Taxes, remuneration and social security | 45 | €1,894 | €8,690 | +€6,796 | +358.9% |
| Taxes | 450/3 | €394 | €7,190 | +€6,796 | +1726.3% |
| Remuneration and social security | 454/9 | €1,500 | €1,500 | = | 0.0% |
| Other amounts payable | 47/48 | €49,714 | €67,713 | +€17,999 | +36.2% |
| Accrued charges and deferred income | 492/3 | €4,240 | €3,980 | -€259 | -6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,210 | €8,721 | -€7,489 | -46.2% |
| Other operating charges | 640/8 | €1,055 | €1,136 | +€81 | +7.6% |
| Gross operating margin | 9900 | €29,555 | €34,799 | +€5,243 | +17.7% |
| Operating profit (loss) | 9901 | €12,290 | €24,942 | +€12,652 | +102.9% |
| Financial income | 75/76B | €2 | €2 | -€0 | -10.2% |
| Recurring financial income | 75 | €2 | €2 | -€0 | -10.2% |
| Financial charges | 65/66B | €3,997 | €5,649 | +€1,652 | +41.3% |
| Recurring financial charges | 65 | €3,997 | €5,649 | +€1,652 | +41.3% |
| Profit (loss) for the period before taxes | 9903 | €8,296 | €19,295 | +€11,000 | +132.6% |
| Income taxes | 67/77 | €1,894 | €1,999 | +€105 | +5.6% |
| Profit (loss) for the period | 9904 | €6,402 | €17,296 | +€10,894 | +170.2% |
| Transfer from tax-exempt reserves | 789 | - | €857 | +€857 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,402 | €18,153 | +€11,751 | +183.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.