VIAMAR: 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.
What changed
VIAMAR
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€28,726
2024 · €841,461-€870,188
Equity
€6.4m
2024 · €6.4m-€41,857
Cash
€143,138
2024 · €200,501-€57,363
Balance sheet total
€26.8m
2024 · €29.1m-€2.3m
Largest movements
Assets
- Tangible fixed assets -€1.9m
down €1.9m (-7.1%), from €26.8m to €24.9m
of which Land and buildings: -€1.9m
Equity and liabilities
- Debts after one year -€1.7m
down €1.7m (-8.6%), from €19.5m to €17.8m
of which Financial debts: -€1.7m
- Other debts -€746,989
down €746,989 (-98.3%), from €760,022 to €13,033
Income statement
- Depreciation +€954,773
up €954,773 (+55.3%), from €1.7m to €2.7m
- Gross operating margin +€544,429
up €544,429 (+26.9%), from €2.0m to €2.6m
- Financial income -€536,179
down €536,179 (-40.7%), from €1.3m to €781,318
- Write-downs -€133,871
down €133,871, from €114,716 to -€19,155
- Financial charges +€33,924
up €33,924 (+6.6%), from €512,565 to €546,489
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.
Result 2024
€841,461
Gross operating margin
+€544,429
Depreciation
-€954,773
Write-downs
+€133,871
Other operating charges
+€1,437
Financial income
-€536,179
Financial charges
-€33,924
Taxes
-€25,552
Deferred taxes and other
+€502
Result 2025
-€28,726
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€2.3m
Investment
-€601,613
Financing
-€1.8m
Cash 2024
€200,501
From operations (derived)
+€2.3m
Net result for the year
-€28,726
Depreciation
+€2.7m
Receivables within one year
+€172,975
Deferred charges and accrued income
-€25,968
Provisions
-€34,660
Trade debts
+€165,265
Tax, wage and social debts
-€1,510
Other debts
-€746,989
Accrued charges and deferred income
+€129,325
Investment (derived)
-€601,613
Investment in fixed assets (net)
-€780,805
Current investments
+€179,192
Financing
-€1.8m
Debts after one year
-€1.7m
Current portion of long-term debt
-€71,870
Contributions, distributions and other
-€13,130
Cash 2025
€143,138
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €29,087,650 | €26,802,863 | -€2.3m | -7.9% |
| Fixed assets | 21/28 | €28,151,933 | €26,250,707 | -€1.9m | -6.8% |
| Tangible fixed assets | 22/27 | €26,751,309 | €24,850,083 | -€1.9m | -7.1% |
| Land and buildings | 22 | €26,742,404 | €24,848,737 | -€1.9m | -7.1% |
| Furniture and vehicles | 24 | €8,905 | €1,346 | -€7,559 | -84.9% |
| Financial fixed assets | 28 | €1,400,623 | €1,400,623 | = | 0.0% |
| Current assets | 29/58 | €935,718 | €552,157 | -€383,561 | -41.0% |
| Amounts receivable within one year | 40/41 | €479,911 | €306,936 | -€172,975 | -36.0% |
| Trade receivables | 40 | €404,353 | €294,765 | -€109,588 | -27.1% |
| Other amounts receivable | 41 | €75,558 | €12,171 | -€63,387 | -83.9% |
| Current investments | 50/53 | €193,679 | €14,488 | -€179,192 | -92.5% |
| Cash at bank and in hand | 54/58 | €200,501 | €143,138 | -€57,363 | -28.6% |
| Deferred charges and accrued income | 490/1 | €61,626 | €87,595 | +€25,968 | +42.1% |
| Total equity and liabilities | 10/49 | €29,087,650 | €26,802,863 | -€2.3m | -7.9% |
| Equity | 10/15 | €6,443,536 | €6,401,679 | -€41,857 | -0.6% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Capital | 10 | €200,000 | €200,000 | = | 0.0% |
| Issued capital | 100 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €6,217,275 | €6,188,548 | -€28,726 | -0.5% |
| Non-distributable reserves | 130/1 | €20,000 | €20,000 | = | 0.0% |
| Legal reserve | 130 | €20,000 | €20,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,263,170 | €1,159,188 | -€103,981 | -8.2% |
| Distributable reserves | 133 | €4,934,105 | €5,009,360 | +€75,255 | +1.5% |
| Investment grants | 15 | €26,261 | €13,130 | -€13,130 | -50.0% |
| Provisions and deferred taxes | 16 | €375,888 | €341,228 | -€34,660 | -9.2% |
| Deferred taxes | 168 | €375,888 | €341,228 | -€34,660 | -9.2% |
| Amounts payable | 17/49 | €22,268,227 | €20,059,957 | -€2.2m | -9.9% |
| Amounts payable after more than one year | 17 | €19,501,972 | €17,819,482 | -€1.7m | -8.6% |
| Financial debts | 170/4 | €18,177,644 | €16,515,153 | -€1.7m | -9.1% |
| Other amounts payable | 178/9 | €1,324,329 | €1,304,329 | -€20,000 | -1.5% |
| Amounts payable within one year | 42/48 | €2,623,121 | €1,968,017 | -€655,104 | -25.0% |
| Current portion of amounts payable after more than one year | 42 | €1,736,005 | €1,664,135 | -€71,870 | -4.1% |
| Trade debts | 44 | €124,183 | €289,448 | +€165,265 | +133% |
| Suppliers | 440/4 | €124,183 | €289,448 | +€165,265 | +133% |
| Taxes, remuneration and social security | 45 | €2,911 | €1,401 | -€1,510 | -51.9% |
| Taxes | 450/3 | €2,911 | €1,401 | -€1,510 | -51.9% |
| Other amounts payable | 47/48 | €760,022 | €13,033 | -€746,989 | -98.3% |
| Accrued charges and deferred income | 492/3 | €143,133 | €272,458 | +€129,325 | +90.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,727,258 | €2,682,031 | +€954,773 | +55.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €114,716 | -€19,155 | -€133,871 | |
| Other operating charges | 640/8 | €201,304 | €199,867 | -€1,437 | -0.7% |
| Gross operating margin | 9900 | €2,021,278 | €2,565,708 | +€544,429 | +26.9% |
| Operating profit (loss) | 9901 | -€21,999 | -€297,034 | -€275,035 | -1,250% |
| Financial income | 75/76B | €1,317,497 | €781,318 | -€536,179 | -40.7% |
| Recurring financial income | 75 | €1,317,497 | €781,318 | -€536,179 | -40.7% |
| Financial charges | 65/66B | €512,565 | €546,489 | +€33,924 | +6.6% |
| Recurring financial charges | 65 | €512,565 | €546,489 | +€33,924 | +6.6% |
| Profit (loss) for the period before taxes | 9903 | €782,933 | -€62,205 | -€845,138 | |
| Transfer from deferred taxes | 780 | €34,158 | €34,660 | +€502 | +1.5% |
| Income taxes | 67/77 | -€24,370 | €1,182 | +€25,552 | |
| Profit (loss) for the period | 9904 | €841,461 | -€28,726 | -€870,188 | |
| Transfer from tax-exempt reserves | 789 | €102,474 | €103,981 | +€1,507 | +1.5% |
| Profit (loss) for the period to be appropriated | 9905 | €943,935 | €75,255 | -€868,680 | -92.0% |
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 19 October 2026 via checked.be.