VICELLA: 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.
VICELLA
Largest movements
- Receivables within one year -€3.2m
down €3.2m (-100.0%), from €3.2m to €443
of which Other amounts receivable: -€3.2m
- Financial fixed assets +€3.0m
up €3.0m (+653%), from €465,000 to €3.5m
- Cash -€1.6m
down €1.6m (-79.0%), from €2.0m to €424,143
mainly Investment in fixed assets (net) (-€3.4m) and Current investments (-€1.5m)
- Current investments +€1.5m
up €1.5m (+106%), from €1.4m to €2.9m
- Tangible fixed assets +€283,269
up €283,269 (+5.1%), from €5.6m to €5.9m
of which Land and buildings: +€283,843
- Debts after one year -€399,862
down €399,862 (-11.5%), from €3.5m to €3.1m
of which Other amounts payable: -€234,513
- Reserves +€254,000
up €254,000 (+3.9%), from €6.5m to €6.7m
of which Distributable reserves: +€254,000
- Trade debts +€244,243
up €244,243 (+4,624%), from €5,282 to €249,525
- Tax, wage and social debts -€210,013
down €210,013 (-90.4%), from €232,408 to €22,395
of which Taxes: -€210,282
- Other debts +€184,389
up €184,389 (+806%), from €22,875 to €207,265
- Financial income -€1.5m
down €1.5m (-84.4%), from €1.7m to €272,601
of which Non-recurring financial income: -€1.6m
- Taxes -€197,250
down €197,250 (-78.6%), from €250,802 to €53,552
- Gross operating margin +€14,189
up €14,189 (+3.4%), from €415,454 to €429,643
- Depreciation +€13,357
up €13,357 (+18.9%), from €70,743 to €84,100
- Financial charges +€12,499
up €12,499 (+5.2%), from €241,097 to €253,596
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 | €12,661,488 | €12,652,032 | -€9,456 | -0.1% |
| Fixed assets | 21/28 | €6,049,542 | €9,371,492 | +€3.3m | +54.9% |
| Tangible fixed assets | 22/27 | €5,584,542 | €5,867,810 | +€283,269 | +5.1% |
| Land and buildings | 22 | €5,583,535 | €5,867,377 | +€283,843 | +5.1% |
| Plant, machinery and equipment | 23 | €906 | €433 | -€472 | -52.2% |
| Furniture and vehicles | 24 | €101 | - | -€101 | |
| Financial fixed assets | 28 | €465,000 | €3,503,681 | +€3.0m | +653% |
| Current assets | 29/58 | €6,611,946 | €3,280,540 | -€3.3m | -50.4% |
| Amounts receivable within one year | 40/41 | €3,195,591 | €443 | -€3.2m | -100.0% |
| Trade receivables | 40 | €9,544 | - | -€9,544 | |
| Other amounts receivable | 41 | €3,186,047 | €443 | -€3.2m | -100.0% |
| Current investments | 50/53 | €1,384,348 | €2,851,005 | +€1.5m | +106% |
| Cash at bank and in hand | 54/58 | €2,024,122 | €424,143 | -€1.6m | -79.0% |
| Deferred charges and accrued income | 490/1 | €7,885 | €4,949 | -€2,937 | -37.2% |
| Total equity and liabilities | 10/49 | €12,661,488 | €12,652,032 | -€9,456 | -0.1% |
| Equity | 10/15 | €6,471,644 | €6,726,221 | +€254,577 | +3.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €6,450,764 | €6,704,764 | +€254,000 | +3.9% |
| Tax-exempt reserves | 132 | €52,500 | €52,500 | = | 0.0% |
| Distributable reserves | 133 | €6,398,264 | €6,652,264 | +€254,000 | +4.0% |
| Profit (loss) carried forward | 14 | €8,479 | €9,057 | +€577 | +6.8% |
| Provisions and deferred taxes | 16 | €2,070,318 | €2,064,371 | -€5,948 | -0.3% |
| Provisions for liabilities and charges | 160/5 | €2,070,318 | €2,064,371 | -€5,948 | -0.3% |
| Other liabilities and charges | 164/5 | €2,070,318 | €2,064,371 | -€5,948 | -0.3% |
| Amounts payable | 17/49 | €4,119,526 | €3,861,441 | -€258,085 | -6.3% |
| Amounts payable after more than one year | 17 | €3,488,780 | €3,088,918 | -€399,862 | -11.5% |
| Financial debts | 170/4 | €3,254,267 | €3,088,918 | -€165,350 | -5.1% |
| Other amounts payable | 178/9 | €234,513 | - | -€234,513 | |
| Amounts payable within one year | 42/48 | €439,610 | €658,493 | +€218,883 | +49.8% |
| Current portion of amounts payable after more than one year | 42 | €179,045 | €179,126 | +€81 | 0.0% |
| Trade debts | 44 | €5,282 | €249,525 | +€244,243 | +4,624% |
| Suppliers | 440/4 | €5,282 | €249,525 | +€244,243 | +4,624% |
| Advances received on contracts in progress | 46 | - | €183 | +€183 | |
| Taxes, remuneration and social security | 45 | €232,408 | €22,395 | -€210,013 | -90.4% |
| Taxes | 450/3 | €227,130 | €16,848 | -€210,282 | -92.6% |
| Remuneration and social security | 454/9 | €5,278 | €5,547 | +€269 | +5.1% |
| Other amounts payable | 47/48 | €22,875 | €207,265 | +€184,389 | +806% |
| Accrued charges and deferred income | 492/3 | €191,136 | €114,030 | -€77,106 | -40.3% |
| Remuneration, social security and pensions | 62 | €40,344 | €39,649 | -€695 | -1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,743 | €84,100 | +€13,357 | +18.9% |
| Other operating charges | 640/8 | €27,454 | €16,771 | -€10,683 | -38.9% |
| Non-recurring operating charges | 66A | €52,636 | - | -€52,636 | |
| Gross operating margin | 9900 | €415,454 | €429,643 | +€14,189 | +3.4% |
| Operating profit (loss) | 9901 | €224,278 | €289,123 | +€64,846 | +28.9% |
| Financial income | 75/76B | €1,746,119 | €272,601 | -€1.5m | -84.4% |
| Recurring financial income | 75 | €180,408 | €272,601 | +€92,193 | +51.1% |
| Non-recurring financial income | 76B | €1,565,711 | - | -€1.6m | |
| Financial charges | 65/66B | €241,097 | €253,596 | +€12,499 | +5.2% |
| Recurring financial charges | 65 | €241,097 | €253,596 | +€12,499 | +5.2% |
| Profit (loss) for the period before taxes | 9903 | €1,729,299 | €308,129 | -€1.4m | -82.2% |
| Income taxes | 67/77 | €250,802 | €53,552 | -€197,250 | -78.6% |
| Profit (loss) for the period | 9904 | €1,478,497 | €254,577 | -€1.2m | -82.8% |
| Transfer from tax-exempt reserves | 789 | €199,404 | - | -€199,404 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,677,901 | €254,577 | -€1.4m | -84.8% |
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 13 October 2026 via checked.be.