VICABEL: what changed
What changed
VICABEL
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
-€382,795
2024 · -€417,559+€34,764
Equity
€409,439
2024 · €792,234-€382,795
Cash
€175,093
2024 · €116,123+€58,970
Balance sheet total
€5.9m
2024 · €5.6m+€265,275
Largest movements
Assets
- Tangible fixed assets +€258,112
up €258,112 (+5.2%), from €5.0m to €5.2m
of which Land and buildings: +€326,210
- Cash +€58,970
up €58,970 (+50.8%), from €116,123 to €175,093
mainly Other debts (+€761,503) and Depreciation (+€260,536)
Equity and liabilities
- Other debts +€761,503
up €761,503 (+18.5%), from €4.1m to €4.9m
- Profit (loss) carried forward -€382,795
down €382,795 (-59.0%), from €649,234 to €266,439
- Debts after one year -€85,127
down €85,127 (-17.5%), from €485,149 to €400,022
Income statement
- Depreciation -€141,780
down €141,780 (-35.2%), from €402,316 to €260,536
- Gross operating margin -€130,395
down €130,395, from €26,340 to -€104,054
- Taxes -€21,482
down €21,482 (-98.6%), from €21,789 to €306
- Financial income -€3,823
down €3,823 (-52.5%), from €7,282 to €3,459
- Other operating charges -€3,607
down €3,607 (-22.6%), from €15,977 to €12,370
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€417,559
Gross operating margin
-€130,395
Depreciation
+€141,780
Other operating charges
+€3,607
Financial income
-€3,823
Financial charges
+€2,113
Taxes
+€21,482
Result 2025
-€382,795
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€661,422
Investment
-€518,648
Financing
-€83,805
Cash 2024
€116,123
From operations (derived)
+€661,422
Net result for the year
-€382,795
Depreciation
+€260,536
Receivables within one year
+€52,240
Smaller working-capital items
-€1,338
Trade debts
-€28,723
Other debts
+€761,503
Investment (derived)
-€518,648
Investment in fixed assets (net)
-€518,648
Financing
-€83,805
Debts after one year
-€85,127
Current portion of long-term debt
+€1,322
Cash 2025
€175,093
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,587,697 | €5,852,971 | +€265,275 | +4.7% |
| Fixed assets | 21/28 | €5,004,973 | €5,263,085 | +€258,112 | +5.2% |
| Tangible fixed assets | 22/27 | €4,989,479 | €5,247,591 | +€258,112 | +5.2% |
| Land and buildings | 22 | €4,686,908 | €5,013,118 | +€326,210 | +7.0% |
| Plant, machinery and equipment | 23 | €145,970 | €119,554 | -€26,416 | -18.1% |
| Furniture and vehicles | 24 | €156,602 | €114,920 | -€41,682 | -26.6% |
| Financial fixed assets | 28 | €15,494 | €15,494 | = | 0.0% |
| Current assets | 29/58 | €582,724 | €589,887 | +€7,163 | +1.2% |
| Amounts receivable after more than one year | 29 | €201,415 | €201,415 | = | 0.0% |
| Other amounts receivable | 291 | €201,415 | €201,415 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €241,060 | €188,820 | -€52,240 | -21.7% |
| Trade receivables | 40 | €72,236 | €85,274 | +€13,038 | +18.0% |
| Other amounts receivable | 41 | €168,824 | €103,547 | -€65,278 | -38.7% |
| Cash at bank and in hand | 54/58 | €116,123 | €175,093 | +€58,970 | +50.8% |
| Deferred charges and accrued income | 490/1 | €24,126 | €24,559 | +€433 | +1.8% |
| Total equity and liabilities | 10/49 | €5,587,697 | €5,852,971 | +€265,275 | +4.7% |
| Equity | 10/15 | €792,234 | €409,439 | -€382,795 | -48.3% |
| Contributions | 10/11 | €130,000 | €130,000 | = | 0.0% |
| Capital | 10 | €130,000 | €130,000 | = | 0.0% |
| Issued capital | 100 | €130,000 | €130,000 | = | 0.0% |
| Reserves | 13 | €13,000 | €13,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €13,000 | €13,000 | = | 0.0% |
| Legal reserve | 130 | €13,000 | €13,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €649,234 | €266,439 | -€382,795 | -59.0% |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Provisions for liabilities and charges | 160/5 | €0 | - | = | |
| Pensions and similar obligations | 160 | €0 | - | = | |
| Amounts payable | 17/49 | €4,795,463 | €5,443,532 | +€648,070 | +13.5% |
| Amounts payable after more than one year | 17 | €485,149 | €400,022 | -€85,127 | -17.5% |
| Financial debts | 170/4 | €485,149 | €400,022 | -€85,127 | -17.5% |
| Amounts payable within one year | 42/48 | €4,310,313 | €5,043,510 | +€733,196 | +17.0% |
| Current portion of amounts payable after more than one year | 42 | €89,075 | €90,397 | +€1,322 | +1.5% |
| Trade debts | 44 | €103,549 | €74,826 | -€28,723 | -27.7% |
| Suppliers | 440/4 | €103,549 | €74,826 | -€28,723 | -27.7% |
| Taxes, remuneration and social security | 45 | €1,212 | €306 | -€905 | -74.7% |
| Taxes | 450/3 | €1,212 | €306 | -€905 | -74.7% |
| Other amounts payable | 47/48 | €4,116,478 | €4,877,981 | +€761,503 | +18.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €402,316 | €260,536 | -€141,780 | -35.2% |
| Other operating charges | 640/8 | €15,977 | €12,370 | -€3,607 | -22.6% |
| Gross operating margin | 9900 | €26,340 | -€104,054 | -€130,395 | |
| Operating profit (loss) | 9901 | -€391,952 | -€376,960 | +€14,992 | +3.8% |
| Financial income | 75/76B | €7,282 | €3,459 | -€3,823 | -52.5% |
| Recurring financial income | 75 | €7,282 | €3,459 | -€3,823 | -52.5% |
| Financial charges | 65/66B | €11,101 | €8,988 | -€2,113 | -19.0% |
| Recurring financial charges | 65 | €11,101 | €8,988 | -€2,113 | -19.0% |
| Profit (loss) for the period before taxes | 9903 | -€395,771 | -€382,489 | +€13,282 | +3.4% |
| Income taxes | 67/77 | €21,789 | €306 | -€21,482 | -98.6% |
| Profit (loss) for the period | 9904 | -€417,559 | -€382,795 | +€34,764 | +8.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€417,559 | -€382,795 | +€34,764 | +8.3% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.