VIBRO - WELFSELS: 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
VIBRO - WELFSELS
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€17,277
2024 · €85,717-€68,440
Equity
€3.9m
2024 · €3.8m+€17,277
Cash
€188,075
2024 · €200,576-€12,500
Balance sheet total
€4.1m
2024 · €4.1m+€30,584
Largest movements
Assets
- Current investments +€100,000
up €100,000 (+11.9%), from €840,000 to €940,000
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
- Gross operating margin -€75,637
down €75,637 (-60.4%), from €125,176 to €49,540
- Taxes -€19,548
down €19,548 (-65.8%), from €29,721 to €10,173
- Financial income -€11,477
down €11,477 (-22.8%), from €50,309 to €38,832
- Other operating charges +€1,510
up €1,510 (+4.7%), from €32,191 to €33,702
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
€85,717
Gross operating margin
-€75,637
Depreciation
+€657
Other operating charges
-€1,510
Financial income
-€11,477
Financial charges
-€22
Taxes
+€19,548
Result 2025
€17,277
raises the resultlowers the result
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
+€87,500
Investment
-€100,000
Financing
€0
Cash 2024
€200,576
From operations (derived)
+€87,500
Net result for the year
+€17,277
Depreciation
+€27,142
Receivables within one year
+€31,611
Deferred charges and accrued income
-€1,837
Trade debts
+€11,869
Tax, wage and social debts
-€2,712
Other debts
+€791
Accrued charges and deferred income
+€3,359
Investment (derived)
-€100,000
Current investments
-€100,000
Cash 2025
€188,075
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,076,425 | €4,107,009 | +€30,584 | +0.8% |
| Fixed assets | 21/28 | €2,352,078 | €2,324,936 | -€27,142 | -1.2% |
| Tangible fixed assets | 22/27 | €357,938 | €330,796 | -€27,142 | -7.6% |
| Land and buildings | 22 | €331,593 | €310,251 | -€21,342 | -6.4% |
| Plant, machinery and equipment | 23 | €9,285 | €7,685 | -€1,600 | -17.2% |
| Furniture and vehicles | 24 | €17,060 | €12,859 | -€4,201 | -24.6% |
| Financial fixed assets | 28 | €1,994,140 | €1,994,140 | = | 0.0% |
| Current assets | 29/58 | €1,724,347 | €1,782,073 | +€57,726 | +3.3% |
| Amounts receivable within one year | 40/41 | €683,771 | €652,160 | -€31,611 | -4.6% |
| Trade receivables | 40 | €29,257 | €406 | -€28,851 | -98.6% |
| Other amounts receivable | 41 | €654,514 | €651,754 | -€2,760 | -0.4% |
| Current investments | 50/53 | €840,000 | €940,000 | +€100,000 | +11.9% |
| Cash at bank and in hand | 54/58 | €200,576 | €188,075 | -€12,500 | -6.2% |
| Deferred charges and accrued income | 490/1 | - | €1,837 | +€1,837 | |
| Total equity and liabilities | 10/49 | €4,076,425 | €4,107,009 | +€30,584 | +0.8% |
| Equity | 10/15 | €3,837,150 | €3,854,427 | +€17,277 | +0.5% |
| Contributions | 10/11 | €516,000 | €516,000 | = | 0.0% |
| Capital | 10 | €516,000 | €516,000 | = | 0.0% |
| Issued capital | 100 | €516,000 | €516,000 | = | 0.0% |
| Reserves | 13 | €2,801,600 | €2,801,600 | = | 0.0% |
| Non-distributable reserves | 130/1 | €51,600 | €51,600 | = | 0.0% |
| Legal reserve | 130 | €51,600 | €51,600 | = | 0.0% |
| Distributable reserves | 133 | €2,750,000 | €2,750,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €519,550 | €536,827 | +€17,277 | +3.3% |
| Amounts payable | 17/49 | €239,275 | €252,582 | +€13,307 | +5.6% |
| Amounts payable within one year | 42/48 | €141,812 | €151,759 | +€9,948 | +7.0% |
| Trade debts | 44 | €117,164 | €129,033 | +€11,869 | +10.1% |
| Suppliers | 440/4 | €117,164 | €129,033 | +€11,869 | +10.1% |
| Taxes, remuneration and social security | 45 | €2,712 | €0 | -€2,712 | -100% |
| Taxes | 450/3 | €2,712 | €0 | -€2,712 | -100% |
| Other amounts payable | 47/48 | €21,935 | €22,726 | +€791 | +3.6% |
| Accrued charges and deferred income | 492/3 | €97,463 | €100,822 | +€3,359 | +3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,799 | €27,142 | -€657 | -2.4% |
| Other operating charges | 640/8 | €32,191 | €33,702 | +€1,510 | +4.7% |
| Gross operating margin | 9900 | €125,176 | €49,540 | -€75,637 | -60.4% |
| Operating profit (loss) | 9901 | €65,185 | -€11,304 | -€76,489 | |
| Financial income | 75/76B | €50,309 | €38,832 | -€11,477 | -22.8% |
| Recurring financial income | 75 | €50,309 | €38,832 | -€11,477 | -22.8% |
| Financial charges | 65/66B | €57 | €78 | +€22 | +38.4% |
| Recurring financial charges | 65 | €57 | €78 | +€22 | +38.4% |
| Profit (loss) for the period before taxes | 9903 | €115,438 | €27,450 | -€87,988 | -76.2% |
| Income taxes | 67/77 | €29,721 | €10,173 | -€19,548 | -65.8% |
| Profit (loss) for the period | 9904 | €85,717 | €17,277 | -€68,440 | -79.8% |
| Profit (loss) for the period to be appropriated | 9905 | €85,717 | €17,277 | -€68,440 | -79.8% |
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 15 October 2026 via checked.be.