VICAM: 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.
VICAM
Largest movements
- Receivables within one year +€15,095
up €15,095 (+62.9%), from €24,015 to €39,110
of which Trade receivables: +€12,554
- Cash +€7,555
up €7,555 (+41.0%), from €18,426 to €25,981
mainly Net result for the year (+€41,621) and Tax, wage and social debts (+€8,785)
- Reserves +€41,621
up €41,621 (+27.8%), from €149,921 to €191,542
of which Distributable reserves: +€43,481
- Tax, wage and social debts +€8,785
up €8,785 (+93.0%), from €9,446 to €18,231
of which Taxes: +€8,785
- Debts after one year -€8,220
down €8,220 (-100.0%), from €8,220 to €0
- Trade debts -€6,946
down €6,946 (-74.8%), from €9,288 to €2,342
- Other debts -€6,755
down €6,755 (-100.0%), from €6,755 to €0
- Gross operating margin +€41,169
up €41,169 (+173.7%), from €23,708 to €64,877
- Taxes +€11,422
up €11,422 (+193.2%), from €5,913 to €17,335
- Financial charges -€682
down €682 (-27.5%), from €2,483 to €1,801
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 | €210,952 | €234,136 | +€23,183 | +11.0% |
| Fixed assets | 21/28 | €168,512 | €168,894 | +€382 | +0.2% |
| Tangible fixed assets | 22/27 | €168,512 | €168,894 | +€382 | +0.2% |
| Furniture and vehicles | 24 | €4,249 | €6,030 | +€1,780 | +41.9% |
| Other tangible fixed assets | 26 | €164,263 | €162,864 | -€1,398 | -0.9% |
| Current assets | 29/58 | €42,440 | €65,242 | +€22,801 | +53.7% |
| Amounts receivable within one year | 40/41 | €24,015 | €39,110 | +€15,095 | +62.9% |
| Trade receivables | 40 | €20,721 | €33,275 | +€12,554 | +60.6% |
| Other amounts receivable | 41 | €3,293 | €5,835 | +€2,542 | +77.2% |
| Cash at bank and in hand | 54/58 | €18,426 | €25,981 | +€7,555 | +41.0% |
| Deferred charges and accrued income | 490/1 | €0 | €151 | +€151 | |
| Total equity and liabilities | 10/49 | €210,952 | €234,136 | +€23,183 | +11.0% |
| Equity | 10/15 | €156,121 | €197,742 | +€41,621 | +26.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €149,921 | €191,542 | +€41,621 | +27.8% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100.0% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100.0% |
| Distributable reserves | 133 | €148,061 | €191,542 | +€43,481 | +29.4% |
| Amounts payable | 17/49 | €54,831 | €36,394 | -€18,438 | -33.6% |
| Amounts payable after more than one year | 17 | €8,220 | €0 | -€8,220 | -100.0% |
| Financial debts | 170/4 | €8,220 | €0 | -€8,220 | -100.0% |
| Amounts payable within one year | 42/48 | €44,403 | €33,972 | -€10,430 | -23.5% |
| Current portion of amounts payable after more than one year | 42 | €13,617 | €8,220 | -€5,397 | -39.6% |
| Financial debts | 43 | €5,297 | €5,180 | -€117 | -2.2% |
| Credit institutions | 430/8 | €5,297 | €5,180 | -€117 | -2.2% |
| Trade debts | 44 | €9,288 | €2,342 | -€6,946 | -74.8% |
| Suppliers | 440/4 | €9,288 | €2,342 | -€6,946 | -74.8% |
| Taxes, remuneration and social security | 45 | €9,446 | €18,231 | +€8,785 | +93.0% |
| Taxes | 450/3 | €6,428 | €15,214 | +€8,785 | +136.7% |
| Remuneration and social security | 454/9 | €3,017 | €3,017 | = | 0.0% |
| Other amounts payable | 47/48 | €6,755 | €0 | -€6,755 | -100.0% |
| Accrued charges and deferred income | 492/3 | €2,209 | €2,421 | +€212 | +9.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,951 | €3,186 | +€234 | +7.9% |
| Other operating charges | 640/8 | €626 | €938 | +€312 | +49.8% |
| Gross operating margin | 9900 | €23,708 | €64,877 | +€41,169 | +173.7% |
| Operating profit (loss) | 9901 | €20,130 | €60,753 | +€40,623 | +201.8% |
| Financial income | 75/76B | €45 | €3 | -€42 | -93.2% |
| Recurring financial income | 75 | €45 | €3 | -€42 | -93.2% |
| Financial charges | 65/66B | €2,483 | €1,801 | -€682 | -27.5% |
| Recurring financial charges | 65 | €2,483 | €1,801 | -€682 | -27.5% |
| Profit (loss) for the period before taxes | 9903 | €17,692 | €58,956 | +€41,263 | +233.2% |
| Income taxes | 67/77 | €5,913 | €17,335 | +€11,422 | +193.2% |
| Profit (loss) for the period | 9904 | €11,779 | €41,621 | +€29,842 | +253.3% |
| Profit (loss) for the period to be appropriated | 9905 | €11,779 | €41,621 | +€29,842 | +253.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.