VIALEX: 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.
VIALEX
Largest movements
- Receivables within one year -€26,982
down €26,982 (-53.1%), from €50,777 to €23,795
of which Other amounts receivable: -€43,333
- Tangible fixed assets -€18,943
down €18,943 (-9.5%), from €199,985 to €181,043
of which Land and buildings: -€21,751
- Cash -€16,343
down €16,343 (-49.1%), from €33,255 to €16,912
mainly Contributions, distributions and other (-€57,247) and Debts after one year (-€34,828)
- Reserves -€34,830
down €34,830 (-22.7%), from €153,565 to €118,735
- Debts after one year -€34,828
down €34,828 (-48.0%), from €72,555 to €37,726
- Trade debts +€18,836
up €18,836 (+844.8%), from €2,230 to €21,066
- Short-term financial debts -€11,609
down €11,609 (-69.7%), from €16,667 to €5,058
- Current portion of long-term debt +€3,214
up €3,214 (+9.6%), from €33,583 to €36,797
- Depreciation +€3,849
up €3,849 (+13.4%), from €28,633 to €32,482
- Financial income +€2,641
up €2,641 (+5542.2%), from €48 to €2,689
- Financial charges +€2,635
up €2,635 (+47.8%), from €5,510 to €8,145
- Taxes -€1,859
down €1,859 (-12.2%), from €15,193 to €13,334
- Gross operating margin +€1,590
up €1,590 (+2.1%), from €77,051 to €78,641
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 | €312,572 | €248,391 | -€64,181 | -20.5% |
| Fixed assets | 21/28 | €200,704 | €181,043 | -€19,661 | -9.8% |
| Tangible fixed assets | 22/27 | €199,985 | €181,043 | -€18,943 | -9.5% |
| Land and buildings | 22 | €199,985 | €178,234 | -€21,751 | -10.9% |
| Furniture and vehicles | 24 | - | €2,809 | +€2,809 | |
| Financial fixed assets | 28 | €719 | - | -€719 | |
| Current assets | 29/58 | €111,868 | €67,348 | -€44,519 | -39.8% |
| Amounts receivable after more than one year | 29 | €20,000 | €20,000 | = | 0.0% |
| Trade receivables | 290 | €20,000 | €20,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €50,777 | €23,795 | -€26,982 | -53.1% |
| Trade receivables | 40 | - | €16,351 | +€16,351 | |
| Other amounts receivable | 41 | €50,777 | €7,444 | -€43,333 | -85.3% |
| Current investments | 50/53 | €4,114 | €4,114 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €33,255 | €16,912 | -€16,343 | -49.1% |
| Deferred charges and accrued income | 490/1 | €3,721 | €2,527 | -€1,194 | -32.1% |
| Total equity and liabilities | 10/49 | €312,572 | €248,391 | -€64,181 | -20.5% |
| Equity | 10/15 | €172,165 | €137,335 | -€34,830 | -20.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €153,565 | €118,735 | -€34,830 | -22.7% |
| Distributable reserves | 133 | €153,565 | €118,735 | -€34,830 | -22.7% |
| Amounts payable | 17/49 | €140,407 | €111,056 | -€29,351 | -20.9% |
| Amounts payable after more than one year | 17 | €72,555 | €37,726 | -€34,828 | -48.0% |
| Financial debts | 170/4 | €72,555 | €37,726 | -€34,828 | -48.0% |
| Amounts payable within one year | 42/48 | €64,529 | €71,929 | +€7,400 | +11.5% |
| Current portion of amounts payable after more than one year | 42 | €33,583 | €36,797 | +€3,214 | +9.6% |
| Financial debts | 43 | €16,667 | €5,058 | -€11,609 | -69.7% |
| Credit institutions | 430/8 | €16,667 | €5,058 | -€11,609 | -69.7% |
| Trade debts | 44 | €2,230 | €21,066 | +€18,836 | +844.8% |
| Suppliers | 440/4 | €2,230 | €21,066 | +€18,836 | +844.8% |
| Taxes, remuneration and social security | 45 | €12,049 | €9,007 | -€3,042 | -25.2% |
| Taxes | 450/3 | €8,143 | €9,007 | +€864 | +10.6% |
| Remuneration and social security | 454/9 | €3,906 | - | -€3,906 | |
| Accrued charges and deferred income | 492/3 | €3,324 | €1,402 | -€1,922 | -57.8% |
| Non-recurring operating income | 76A | €2,423 | - | -€2,423 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,633 | €32,482 | +€3,849 | +13.4% |
| Other operating charges | 640/8 | €3,555 | €3,791 | +€236 | +6.6% |
| Non-recurring operating charges | 66A | - | €1,160 | +€1,160 | |
| Gross operating margin | 9900 | €77,051 | €78,641 | +€1,590 | +2.1% |
| Operating profit (loss) | 9901 | €44,862 | €41,207 | -€3,655 | -8.1% |
| Financial income | 75/76B | €48 | €2,689 | +€2,641 | +5542.2% |
| Recurring financial income | 75 | €48 | €2,689 | +€2,641 | +5542.2% |
| Financial charges | 65/66B | €5,510 | €8,145 | +€2,635 | +47.8% |
| Recurring financial charges | 65 | €5,510 | €8,145 | +€2,635 | +47.8% |
| Profit (loss) for the period before taxes | 9903 | €39,400 | €35,751 | -€3,649 | -9.3% |
| Income taxes | 67/77 | €15,193 | €13,334 | -€1,859 | -12.2% |
| Profit (loss) for the period | 9904 | €24,207 | €22,417 | -€1,790 | -7.4% |
| Profit (loss) for the period to be appropriated | 9905 | €24,207 | €22,417 | -€1,790 | -7.4% |
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 6 October 2026 via checked.be.