VIE: 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.
VIE
Largest movements
- Receivables after one year -€90,000
down €90,000 (-19.8%), from €455,000 to €365,000
- Cash +€57,747
up €57,747 (+15.1%), from €381,927 to €439,674
mainly Receivables after one year (+€90,000) and Net result for the year (+€77,414)
- Reserves -€31,486
down €31,486 (-3.8%), from €823,208 to €791,722
of which Distributable reserves: -€31,486
- Gross operating margin -€5,153
down €5,153 (-4.8%), from €107,217 to €102,065
- Financial income -€2,467
down €2,467 (-19.0%), from €13,013 to €10,546
- Taxes -€1,684
down €1,684 (-5.0%), from €33,772 to €32,089
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 | €896,859 | €857,001 | -€39,858 | -4.4% |
| Fixed assets | 21/28 | €16,077 | €14,829 | -€1,248 | -7.8% |
| Tangible fixed assets | 22/27 | €3,057 | €1,809 | -€1,248 | -40.8% |
| Plant, machinery and equipment | 23 | €3,057 | €1,809 | -€1,248 | -40.8% |
| Financial fixed assets | 28 | €13,020 | €13,020 | = | 0.0% |
| Current assets | 29/58 | €880,782 | €842,171 | -€38,611 | -4.4% |
| Amounts receivable after more than one year | 29 | €455,000 | €365,000 | -€90,000 | -19.8% |
| Other amounts receivable | 291 | €455,000 | €365,000 | -€90,000 | -19.8% |
| Amounts receivable within one year | 40/41 | €39,084 | €35,126 | -€3,958 | -10.1% |
| Trade receivables | 40 | €34,606 | €27,474 | -€7,132 | -20.6% |
| Other amounts receivable | 41 | €4,478 | €7,652 | +€3,175 | +70.9% |
| Cash at bank and in hand | 54/58 | €381,927 | €439,674 | +€57,747 | +15.1% |
| Deferred charges and accrued income | 490/1 | €4,772 | €2,371 | -€2,400 | -50.3% |
| Total equity and liabilities | 10/49 | €896,859 | €857,001 | -€39,858 | -4.4% |
| Equity | 10/15 | €871,808 | €840,322 | -€31,486 | -3.6% |
| Contributions | 10/11 | €48,600 | €48,600 | = | 0.0% |
| Reserves | 13 | €823,208 | €791,722 | -€31,486 | -3.8% |
| Non-distributable reserves | 130/1 | €4,860 | €4,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,860 | €4,860 | = | 0.0% |
| Distributable reserves | 133 | €818,348 | €786,862 | -€31,486 | -3.8% |
| Amounts payable | 17/49 | €25,051 | €16,679 | -€8,372 | -33.4% |
| Amounts payable within one year | 42/48 | €25,051 | €16,679 | -€8,372 | -33.4% |
| Trade debts | 44 | €2,300 | €307 | -€1,993 | -86.7% |
| Suppliers | 440/4 | €2,300 | €307 | -€1,993 | -86.7% |
| Taxes, remuneration and social security | 45 | €17,132 | €13,745 | -€3,388 | -19.8% |
| Taxes | 450/3 | €17,132 | €13,745 | -€3,388 | -19.8% |
| Other amounts payable | 47/48 | €5,619 | €2,627 | -€2,992 | -53.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,248 | €1,248 | = | 0.0% |
| Other operating charges | 640/8 | €902 | €507 | -€395 | -43.8% |
| Gross operating margin | 9900 | €107,217 | €102,065 | -€5,153 | -4.8% |
| Operating profit (loss) | 9901 | €105,067 | €100,309 | -€4,758 | -4.5% |
| Financial income | 75/76B | €13,013 | €10,546 | -€2,467 | -19.0% |
| Recurring financial income | 75 | €13,013 | €10,546 | -€2,467 | -19.0% |
| Financial charges | 65/66B | €1,564 | €1,353 | -€211 | -13.5% |
| Recurring financial charges | 65 | €1,564 | €1,353 | -€211 | -13.5% |
| Profit (loss) for the period before taxes | 9903 | €116,516 | €109,503 | -€7,013 | -6.0% |
| Income taxes | 67/77 | €33,772 | €32,089 | -€1,684 | -5.0% |
| Profit (loss) for the period | 9904 | €82,744 | €77,414 | -€5,330 | -6.4% |
| Profit (loss) for the period to be appropriated | 9905 | €82,744 | €77,414 | -€5,330 | -6.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.