VIA FERRATA: 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.
VIA FERRATA
Largest movements
- Receivables within one year +€38,704
up €38,704 (+1,544%), from €2,507 to €41,211
of which Trade receivables: +€35,581
- Current investments +€32,640
up €32,640 (+19.5%), from €167,186 to €199,826
- Cash -€11,528
down €11,528 (-60.1%), from €19,188 to €7,660
mainly Receivables within one year (-€38,704) and Current investments (-€32,640)
- Tangible fixed assets -€4,122
down €4,122 (-23.8%), from €17,311 to €13,189
- Reserves +€63,983
up €63,983 (+39.2%), from €163,359 to €227,343
of which Distributable reserves: +€63,983
- Current portion of long-term debt -€11,500
no longer reported in 2025 (was €11,500)
- Gross operating margin +€114,960
up €114,960 (+1,106%), from €10,392 to €125,352
- Staff costs -€23,275
down €23,275 (-33.4%), from €69,676 to €46,402
- Taxes +€6,434
up €6,434 (+1,197%), from €537 to €6,971
- Depreciation +€3,443
up €3,443 (+108%), from €3,176 to €6,619
- Financial income -€3,157
down €3,157 (-54.3%), from €5,817 to €2,661
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 | €208,924 | €264,555 | +€55,631 | +26.6% |
| Fixed assets | 21/28 | €17,311 | €13,189 | -€4,122 | -23.8% |
| Tangible fixed assets | 22/27 | €17,311 | €13,189 | -€4,122 | -23.8% |
| Furniture and vehicles | 24 | €17,311 | €13,189 | -€4,122 | -23.8% |
| Current assets | 29/58 | €191,612 | €251,366 | +€59,754 | +31.2% |
| Amounts receivable within one year | 40/41 | €2,507 | €41,211 | +€38,704 | +1,544% |
| Trade receivables | 40 | - | €35,581 | +€35,581 | |
| Other amounts receivable | 41 | €2,507 | €5,629 | +€3,123 | +125% |
| Current investments | 50/53 | €167,186 | €199,826 | +€32,640 | +19.5% |
| Cash at bank and in hand | 54/58 | €19,188 | €7,660 | -€11,528 | -60.1% |
| Deferred charges and accrued income | 490/1 | €2,732 | €2,669 | -€62 | -2.3% |
| Total equity and liabilities | 10/49 | €208,924 | €264,555 | +€55,631 | +26.6% |
| Equity | 10/15 | €183,359 | €247,343 | +€63,983 | +34.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €163,359 | €227,343 | +€63,983 | +39.2% |
| Tax-exempt reserves | 132 | €3,500 | €3,500 | = | 0.0% |
| Distributable reserves | 133 | €159,859 | €223,843 | +€63,983 | +40.0% |
| Amounts payable | 17/49 | €25,564 | €17,212 | -€8,352 | -32.7% |
| Amounts payable within one year | 42/48 | €25,564 | €17,212 | -€8,352 | -32.7% |
| Current portion of amounts payable after more than one year | 42 | €11,500 | - | -€11,500 | |
| Trade debts | 44 | €5,658 | €5,460 | -€198 | -3.5% |
| Suppliers | 440/4 | €5,658 | €5,460 | -€198 | -3.5% |
| Taxes, remuneration and social security | 45 | €8,407 | €10,802 | +€2,396 | +28.5% |
| Taxes | 450/3 | - | €5,690 | +€5,690 | |
| Remuneration and social security | 454/9 | €8,407 | €5,112 | -€3,294 | -39.2% |
| Other amounts payable | 47/48 | - | €950 | +€950 | |
| Remuneration, social security and pensions | 62 | €69,676 | €46,402 | -€23,275 | -33.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,176 | €6,619 | +€3,443 | +108% |
| Other operating charges | 640/8 | €3,358 | €2,917 | -€442 | -13.2% |
| Gross operating margin | 9900 | €10,392 | €125,352 | +€114,960 | +1,106% |
| Operating profit (loss) | 9901 | -€65,818 | €69,415 | +€135,233 | |
| Financial income | 75/76B | €5,817 | €2,661 | -€3,157 | -54.3% |
| Recurring financial income | 75 | €5,817 | €2,661 | -€3,157 | -54.3% |
| Financial charges | 65/66B | €818 | €171 | -€647 | -79.1% |
| Recurring financial charges | 65 | €818 | €171 | -€647 | -79.1% |
| Profit (loss) for the period before taxes | 9903 | -€60,818 | €71,905 | +€132,723 | |
| Income taxes | 67/77 | €537 | €6,971 | +€6,434 | +1,197% |
| Profit (loss) for the period | 9904 | -€61,356 | €64,933 | +€126,289 | |
| Profit (loss) for the period to be appropriated | 9905 | -€61,356 | €64,933 | +€126,289 |
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 29 October 2026 via checked.be.