VIB PROJECTS: 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.
VIB PROJECTS
Largest movements
- Financial fixed assets +€137,782
up €137,782 (+135%), from €101,818 to €239,600
- Tangible fixed assets +€53,770
up €53,770 (+93.7%), from €57,407 to €111,177
of which Leasing and similar rights: +€59,129
- Cash -€27,299
down €27,299 (-71.6%), from €38,144 to €10,845
mainly Investment in fixed assets (net) (-€217,360) and Receivables within one year (-€24,272)
- Receivables within one year +€24,272
up €24,272 (+607%), from €4,000 to €28,272
of which Trade receivables: +€23,472
- Profit (loss) carried forward +€160,917
up €160,917 (+183%), from €88,007 to €248,924
- Current portion of long-term debt +€18,439
up €18,439 (+295%), from €6,251 to €24,689
- Debts after one year +€5,381
up €5,381 (+7.5%), from €71,856 to €77,237
- Trade debts +€5,252
up €5,252 (+1,080%), from €486 to €5,739
- Financial income +€137,782
new in 2025: €137,782
of which Non-recurring financial income: +€137,782
- Gross operating margin +€16,399
up €16,399 (+31.5%), from €52,110 to €68,509
- Depreciation +€12,125
up €12,125 (+88.6%), from €13,683 to €25,808
- Taxes -€2,743
down €2,743 (-21.2%), from €12,938 to €10,195
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 | €202,370 | €393,236 | +€190,865 | +94.3% |
| Fixed assets | 21/28 | €159,225 | €350,777 | +€191,552 | +120% |
| Tangible fixed assets | 22/27 | €57,407 | €111,177 | +€53,770 | +93.7% |
| Plant, machinery and equipment | 23 | €9,086 | €6,464 | -€2,622 | -28.9% |
| Furniture and vehicles | 24 | €4,370 | €2,644 | -€1,726 | -39.5% |
| Leasing and similar rights | 25 | €34,104 | €93,233 | +€59,129 | +173% |
| Other tangible fixed assets | 26 | €9,846 | €8,836 | -€1,010 | -10.3% |
| Financial fixed assets | 28 | €101,818 | €239,600 | +€137,782 | +135% |
| Current assets | 29/58 | €43,145 | €42,459 | -€687 | -1.6% |
| Amounts receivable within one year | 40/41 | €4,000 | €28,272 | +€24,272 | +607% |
| Trade receivables | 40 | - | €23,472 | +€23,472 | |
| Other amounts receivable | 41 | €4,000 | €4,800 | +€800 | +20.0% |
| Cash at bank and in hand | 54/58 | €38,144 | €10,845 | -€27,299 | -71.6% |
| Deferred charges and accrued income | 490/1 | €1,001 | €3,342 | +€2,341 | +234% |
| Total equity and liabilities | 10/49 | €202,370 | €393,236 | +€190,865 | +94.3% |
| Equity | 10/15 | €93,007 | €253,924 | +€160,917 | +173% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €88,007 | €248,924 | +€160,917 | +183% |
| Amounts payable | 17/49 | €109,363 | €139,311 | +€29,948 | +27.4% |
| Amounts payable after more than one year | 17 | €71,856 | €77,237 | +€5,381 | +7.5% |
| Financial debts | 170/4 | €71,856 | €77,237 | +€5,381 | +7.5% |
| Amounts payable within one year | 42/48 | €37,507 | €62,074 | +€24,567 | +65.5% |
| Current portion of amounts payable after more than one year | 42 | €6,251 | €24,689 | +€18,439 | +295% |
| Trade debts | 44 | €486 | €5,739 | +€5,252 | +1,080% |
| Suppliers | 440/4 | €486 | €5,739 | +€5,252 | +1,080% |
| Taxes, remuneration and social security | 45 | €25,600 | €26,226 | +€626 | +2.4% |
| Taxes | 450/3 | €25,600 | €26,226 | +€626 | +2.4% |
| Other amounts payable | 47/48 | €5,170 | €5,420 | +€250 | +4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,683 | €25,808 | +€12,125 | +88.6% |
| Other operating charges | 640/8 | €1,044 | €1,010 | -€34 | -3.2% |
| Non-recurring operating charges | 66A | - | €4,047 | +€4,047 | |
| Gross operating margin | 9900 | €52,110 | €68,509 | +€16,399 | +31.5% |
| Operating profit (loss) | 9901 | €37,383 | €37,644 | +€261 | +0.7% |
| Financial income | 75/76B | - | €137,782 | +€137,782 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Non-recurring financial income | 76B | - | €137,782 | +€137,782 | |
| Financial charges | 65/66B | €4,964 | €4,313 | -€651 | -13.1% |
| Recurring financial charges | 65 | €4,964 | €4,313 | -€651 | -13.1% |
| Profit (loss) for the period before taxes | 9903 | €32,419 | €171,113 | +€138,693 | +428% |
| Income taxes | 67/77 | €12,938 | €10,195 | -€2,743 | -21.2% |
| Profit (loss) for the period | 9904 | €19,481 | €160,917 | +€141,436 | +726% |
| Profit (loss) for the period to be appropriated | 9905 | €19,481 | €160,917 | +€141,436 | +726% |
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 14 October 2026 via checked.be.