VICAZ: 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.
VICAZ
Largest movements
- Cash +€32,803
up €32,803 (+151.7%), from €21,618 to €54,421
mainly Other debts (+€121,597) and Net result for the year (+€41,846)
- Receivables after one year +€26,791
up €26,791 (+58.2%), from €46,000 to €72,791
- Tangible fixed assets -€13,003
down €13,003 (-22.1%), from €58,779 to €45,776
of which Furniture and vehicles: -€12,000
- Receivables within one year -€12,661
down €12,661 (-44.9%), from €28,182 to €15,521
- Other debts +€121,597
up €121,597 (+14922.2%), from €815 to €122,411
- Profit (loss) carried forward -€100,613
no longer reported in 2025 (was €100,613)
- Tax, wage and social debts +€26,745
up €26,745 (+416.3%), from €6,424 to €33,169
- Debts after one year -€12,862
down €12,862 (-39.7%), from €32,396 to €19,534
- Gross operating margin +€1,859
up €1,859 (+2.8%), from €66,366 to €68,226
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 | €157,699 | €191,712 | +€34,013 | +21.6% |
| Fixed assets | 21/28 | €58,779 | €45,776 | -€13,003 | -22.1% |
| Tangible fixed assets | 22/27 | €58,779 | €45,776 | -€13,003 | -22.1% |
| Furniture and vehicles | 24 | €50,426 | €38,426 | -€12,000 | -23.8% |
| Other tangible fixed assets | 26 | €8,353 | €7,350 | -€1,003 | -12.0% |
| Current assets | 29/58 | €98,920 | €145,935 | +€47,016 | +47.5% |
| Amounts receivable after more than one year | 29 | €46,000 | €72,791 | +€26,791 | +58.2% |
| Other amounts receivable | 291 | €46,000 | €72,791 | +€26,791 | +58.2% |
| Amounts receivable within one year | 40/41 | €28,182 | €15,521 | -€12,661 | -44.9% |
| Trade receivables | 40 | €28,182 | €15,521 | -€12,661 | -44.9% |
| Cash at bank and in hand | 54/58 | €21,618 | €54,421 | +€32,803 | +151.7% |
| Deferred charges and accrued income | 490/1 | €3,120 | €3,203 | +€83 | +2.7% |
| Total equity and liabilities | 10/49 | €157,699 | €191,712 | +€34,013 | +21.6% |
| Equity | 10/15 | €103,113 | €2,500 | -€100,613 | -97.6% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €100,613 | - | -€100,613 | |
| Amounts payable | 17/49 | €54,586 | €189,212 | +€134,626 | +246.6% |
| Amounts payable after more than one year | 17 | €32,396 | €19,534 | -€12,862 | -39.7% |
| Financial debts | 170/4 | €32,396 | €19,534 | -€12,862 | -39.7% |
| Amounts payable within one year | 42/48 | €22,190 | €169,678 | +€147,488 | +664.7% |
| Current portion of amounts payable after more than one year | 42 | €12,736 | €12,862 | +€127 | +1.0% |
| Trade debts | 44 | €2,215 | €1,235 | -€980 | -44.2% |
| Suppliers | 440/4 | €2,215 | €1,235 | -€980 | -44.2% |
| Taxes, remuneration and social security | 45 | €6,424 | €33,169 | +€26,745 | +416.3% |
| Taxes | 450/3 | €6,424 | €33,169 | +€26,745 | +416.3% |
| Other amounts payable | 47/48 | €815 | €122,411 | +€121,597 | +14922.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,190 | €15,997 | -€193 | -1.2% |
| Other operating charges | 640/8 | €118 | €120 | +€2 | +1.7% |
| Gross operating margin | 9900 | €66,366 | €68,226 | +€1,859 | +2.8% |
| Operating profit (loss) | 9901 | €50,058 | €52,109 | +€2,050 | +4.1% |
| Financial income | 75/76B | €860 | €1,426 | +€566 | +65.8% |
| Recurring financial income | 75 | €860 | €1,426 | +€566 | +65.8% |
| Financial charges | 65/66B | €686 | €514 | -€173 | -25.2% |
| Recurring financial charges | 65 | €686 | €514 | -€173 | -25.2% |
| Profit (loss) for the period before taxes | 9903 | €50,232 | €53,021 | +€2,789 | +5.6% |
| Income taxes | 67/77 | €10,700 | €11,174 | +€475 | +4.4% |
| Profit (loss) for the period | 9904 | €39,532 | €41,846 | +€2,314 | +5.9% |
| Profit (loss) for the period to be appropriated | 9905 | €39,532 | €41,846 | +€2,314 | +5.9% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.