VIE: 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.
VIE
Largest movements
- Receivables within one year -€36,261
down €36,261 (-84.5%), from €42,900 to €6,639
of which Other amounts receivable: -€26,628
- Cash +€13,507
up €13,507 (+1663.8%), from €812 to €14,319
mainly Receivables within one year (+€36,261) and Trade debts (+€5,575)
- Tangible fixed assets -€4,332
down €4,332 (-34.1%), from €12,700 to €8,368
of which Plant, machinery and equipment: -€3,401
- Deferred charges and accrued income +€1,392
up €1,392 (+217.2%), from €641 to €2,033
- Other debts -€20,024
down €20,024 (-88.7%), from €22,580 to €2,557
- Tax, wage and social debts -€12,470
down €12,470 (-99.0%), from €12,595 to €125
- Trade debts +€5,575
new in 2025: €5,575
- Advances received +€2,348
new in 2025: €2,348
- Current portion of long-term debt -€2,253
down €2,253 (-81.2%), from €2,774 to €521
- Gross operating margin -€33,502
down €33,502 (-79.8%), from €41,985 to €8,483
- Taxes -€9,457
down €9,457 (-85.8%), from €11,017 to €1,560
- Depreciation +€659
up €659 (+18.0%), from €3,673 to €4,332
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 | €57,052 | €31,358 | -€25,694 | -45.0% |
| Fixed assets | 21/28 | €12,700 | €8,368 | -€4,332 | -34.1% |
| Tangible fixed assets | 22/27 | €12,700 | €8,368 | -€4,332 | -34.1% |
| Plant, machinery and equipment | 23 | €10,514 | €7,113 | -€3,401 | -32.3% |
| Furniture and vehicles | 24 | €2,186 | €1,254 | -€931 | -42.6% |
| Current assets | 29/58 | €44,352 | €22,991 | -€21,362 | -48.2% |
| Amounts receivable within one year | 40/41 | €42,900 | €6,639 | -€36,261 | -84.5% |
| Trade receivables | 40 | €9,633 | - | -€9,633 | |
| Other amounts receivable | 41 | €33,267 | €6,639 | -€26,628 | -80.0% |
| Cash at bank and in hand | 54/58 | €812 | €14,319 | +€13,507 | +1663.8% |
| Deferred charges and accrued income | 490/1 | €641 | €2,033 | +€1,392 | +217.2% |
| Total equity and liabilities | 10/49 | €57,052 | €31,358 | -€25,694 | -45.0% |
| Equity | 10/15 | €19,104 | €20,233 | +€1,130 | +5.9% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,604 | €17,733 | +€1,130 | +6.8% |
| Amounts payable | 17/49 | €37,949 | €11,125 | -€26,823 | -70.7% |
| Amounts payable within one year | 42/48 | €37,949 | €11,125 | -€26,823 | -70.7% |
| Current portion of amounts payable after more than one year | 42 | €2,774 | €521 | -€2,253 | -81.2% |
| Trade debts | 44 | - | €5,575 | +€5,575 | |
| Suppliers | 440/4 | - | €5,575 | +€5,575 | |
| Advances received on contracts in progress | 46 | - | €2,348 | +€2,348 | |
| Taxes, remuneration and social security | 45 | €12,595 | €125 | -€12,470 | -99.0% |
| Taxes | 450/3 | €12,595 | €125 | -€12,470 | -99.0% |
| Other amounts payable | 47/48 | €22,580 | €2,557 | -€20,024 | -88.7% |
| Non-recurring operating income | 76A | - | €4,003 | +€4,003 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,673 | €4,332 | +€659 | +18.0% |
| Other operating charges | 640/8 | €103 | €355 | +€251 | +243.9% |
| Gross operating margin | 9900 | €41,985 | €8,483 | -€33,502 | -79.8% |
| Operating profit (loss) | 9901 | €38,209 | €3,796 | -€34,413 | -90.1% |
| Financial charges | 65/66B | €627 | €274 | -€353 | -56.3% |
| Recurring financial charges | 65 | €627 | €274 | -€353 | -56.3% |
| Profit (loss) for the period before taxes | 9903 | €37,582 | €3,522 | -€34,059 | -90.6% |
| Income taxes | 67/77 | €11,017 | €1,560 | -€9,457 | -85.8% |
| Profit (loss) for the period | 9904 | €26,565 | €1,963 | -€24,602 | -92.6% |
| Profit (loss) for the period to be appropriated | 9905 | €26,565 | €1,963 | -€24,602 | -92.6% |
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 9 October 2026 via checked.be.