VICHELLO: 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.
VICHELLO
Largest movements
- Tangible fixed assets +€848,306
up €848,306 (+58.5%), from €1.4m to €2.3m
of which Land and buildings: +€846,531
- Receivables within one year +€321,049
up €321,049 (+156.6%), from €205,000 to €526,049
- Cash +€171,744
up €171,744 (+38.1%), from €450,227 to €621,971
mainly Net result for the year (+€1.2m) and Debts after one year (+€554,473)
- Reserves +€609,388
up €609,388 (+16.0%), from €3.8m to €4.4m
- Debts after one year +€554,473
up €554,473 (+305.8%), from €181,340 to €735,813
of which Financial debts: +€554,473
- Other debts +€245,408
up €245,408 (+80.6%), from €304,401 to €549,808
- Financial income +€135,557
up €135,557 (+18.8%), from €722,764 to €858,321
- Gross operating margin +€77,771
up €77,771 (+12.9%), from €603,871 to €681,642
- Depreciation +€36,063
up €36,063 (+53.2%), from €67,850 to €103,913
- Taxes +€29,091
up €29,091 (+12.6%), from €231,614 to €260,705
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 | €4,715,508 | €6,073,180 | +€1.4m | +28.8% |
| Fixed assets | 21/28 | €4,049,452 | €4,897,757 | +€848,306 | +20.9% |
| Tangible fixed assets | 22/27 | €1,449,406 | €2,297,711 | +€848,306 | +58.5% |
| Land and buildings | 22 | €1,416,818 | €2,263,349 | +€846,531 | +59.7% |
| Furniture and vehicles | 24 | €32,588 | €34,362 | +€1,775 | +5.4% |
| Financial fixed assets | 28 | €2,600,046 | €2,600,046 | = | 0.0% |
| Current assets | 29/58 | €666,056 | €1,175,423 | +€509,367 | +76.5% |
| Amounts receivable within one year | 40/41 | €205,000 | €526,049 | +€321,049 | +156.6% |
| Other amounts receivable | 41 | €205,000 | €526,049 | +€321,049 | +156.6% |
| Cash at bank and in hand | 54/58 | €450,227 | €621,971 | +€171,744 | +38.1% |
| Deferred charges and accrued income | 490/1 | €10,829 | €27,403 | +€16,574 | +153.1% |
| Total equity and liabilities | 10/49 | €4,715,508 | €6,073,180 | +€1.4m | +28.8% |
| Equity | 10/15 | €3,924,404 | €4,533,792 | +€609,388 | +15.5% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €3,815,467 | €4,424,855 | +€609,388 | +16.0% |
| Distributable reserves | 133 | €3,815,467 | €4,424,855 | +€609,388 | +16.0% |
| Profit (loss) carried forward | 14 | €78,937 | €78,937 | = | 0.0% |
| Amounts payable | 17/49 | €791,103 | €1,539,388 | +€748,285 | +94.6% |
| Amounts payable after more than one year | 17 | €181,340 | €735,813 | +€554,473 | +305.8% |
| Financial debts | 170/4 | €179,340 | €733,813 | +€554,473 | +309.2% |
| Other amounts payable | 178/9 | €2,000 | €2,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €607,257 | €803,575 | +€196,318 | +32.3% |
| Current portion of amounts payable after more than one year | 42 | €298,606 | €245,527 | -€53,079 | -17.8% |
| Trade debts | 44 | €3,706 | €8,164 | +€4,457 | +120.3% |
| Suppliers | 440/4 | €3,706 | €8,164 | +€4,457 | +120.3% |
| Taxes, remuneration and social security | 45 | €544 | €76 | -€467 | -85.9% |
| Taxes | 450/3 | €344 | €76 | -€267 | -77.8% |
| Remuneration and social security | 454/9 | €200 | €0 | -€200 | -100.0% |
| Other amounts payable | 47/48 | €304,401 | €549,808 | +€245,408 | +80.6% |
| Accrued charges and deferred income | 492/3 | €2,507 | €0 | -€2,507 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,850 | €103,913 | +€36,063 | +53.2% |
| Other operating charges | 640/8 | €5,422 | €6,969 | +€1,547 | +28.5% |
| Gross operating margin | 9900 | €603,871 | €681,642 | +€77,771 | +12.9% |
| Operating profit (loss) | 9901 | €530,599 | €570,760 | +€40,161 | +7.6% |
| Financial income | 75/76B | €722,764 | €858,321 | +€135,557 | +18.8% |
| Recurring financial income | 75 | €722,764 | €858,321 | +€135,557 | +18.8% |
| Financial charges | 65/66B | €13,032 | €9,180 | -€3,851 | -29.6% |
| Recurring financial charges | 65 | €13,032 | €9,180 | -€3,851 | -29.6% |
| Profit (loss) for the period before taxes | 9903 | €1,240,331 | €1,419,901 | +€179,569 | +14.5% |
| Income taxes | 67/77 | €231,614 | €260,705 | +€29,091 | +12.6% |
| Profit (loss) for the period | 9904 | €1,008,718 | €1,159,196 | +€150,478 | +14.9% |
| Profit (loss) for the period to be appropriated | 9905 | €1,008,718 | €1,159,196 | +€150,478 | +14.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.