VIEP: 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.
VIEP
Largest movements
- Receivables within one year -€66,123
down €66,123 (-83.2%), from €79,508 to €13,386
of which Other amounts receivable: -€68,144
- Cash +€32,032
up €32,032 (+45.1%), from €70,982 to €103,015
mainly Receivables within one year (+€66,123) and Other debts (+€30,730)
- Deferred charges and accrued income -€13,529
down €13,529 (-86.9%), from €15,571 to €2,042
- Tangible fixed assets +€7,273
up €7,273 (+171.4%), from €4,243 to €11,516
of which Furniture and vehicles: +€7,694
- Intangible fixed assets -€4,412
down €4,412 (-20.8%), from €21,212 to €16,800
- Reserves -€85,905
down €85,905 (-55.7%), from €154,191 to €68,286
- Other debts +€30,730
up €30,730 (+107.9%), from €28,485 to €59,215
- Tax, wage and social debts +€10,206
up €10,206 (+383.1%), from €2,664 to €12,870
of which Taxes: +€10,206
- Gross operating margin +€22,145
up €22,145 (+52.3%), from €42,345 to €64,489
- Financial charges +€17,946
up €17,946 (+4571.5%), from €393 to €18,339
- Taxes +€9,529
up €9,529 (+104.7%), from €9,104 to €18,633
- Depreciation +€3,486
up €3,486 (+76.2%), from €4,575 to €8,061
- Financial income -€951
down €951 (-64.2%), from €1,480 to €530
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 | €191,517 | €146,758 | -€44,758 | -23.4% |
| Fixed assets | 21/28 | €25,455 | €28,316 | +€2,861 | +11.2% |
| Intangible fixed assets | 21 | €21,212 | €16,800 | -€4,412 | -20.8% |
| Tangible fixed assets | 22/27 | €4,243 | €11,516 | +€7,273 | +171.4% |
| Plant, machinery and equipment | 23 | €421 | €0 | -€421 | -100.0% |
| Furniture and vehicles | 24 | €3,822 | €11,516 | +€7,694 | +201.3% |
| Current assets | 29/58 | €166,062 | €118,443 | -€47,619 | -28.7% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €79,508 | €13,386 | -€66,123 | -83.2% |
| Trade receivables | 40 | €11,364 | €13,386 | +€2,022 | +17.8% |
| Other amounts receivable | 41 | €68,144 | €0 | -€68,144 | -100.0% |
| Cash at bank and in hand | 54/58 | €70,982 | €103,015 | +€32,032 | +45.1% |
| Deferred charges and accrued income | 490/1 | €15,571 | €2,042 | -€13,529 | -86.9% |
| Total equity and liabilities | 10/49 | €191,517 | €146,758 | -€44,758 | -23.4% |
| Equity | 10/15 | €159,191 | €73,286 | -€85,905 | -54.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €154,191 | €68,286 | -€85,905 | -55.7% |
| Distributable reserves | 133 | €154,191 | €68,286 | -€85,905 | -55.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €32,326 | €73,472 | +€41,146 | +127.3% |
| Amounts payable within one year | 42/48 | €32,326 | €73,472 | +€41,146 | +127.3% |
| Trade debts | 44 | €1,177 | €1,388 | +€210 | +17.9% |
| Suppliers | 440/4 | €1,177 | €1,388 | +€210 | +17.9% |
| Taxes, remuneration and social security | 45 | €2,664 | €12,870 | +€10,206 | +383.1% |
| Taxes | 450/3 | €2,664 | €12,870 | +€10,206 | +383.1% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €28,485 | €59,215 | +€30,730 | +107.9% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,575 | €8,061 | +€3,486 | +76.2% |
| Other operating charges | 640/8 | €1,269 | €1,734 | +€466 | +36.7% |
| Gross operating margin | 9900 | €42,345 | €64,489 | +€22,145 | +52.3% |
| Operating profit (loss) | 9901 | €36,501 | €54,694 | +€18,193 | +49.8% |
| Financial income | 75/76B | €1,480 | €530 | -€951 | -64.2% |
| Recurring financial income | 75 | €1,480 | €530 | -€951 | -64.2% |
| Financial charges | 65/66B | €393 | €18,339 | +€17,946 | +4571.5% |
| Recurring financial charges | 65 | €393 | €18,339 | +€17,946 | +4571.5% |
| Profit (loss) for the period before taxes | 9903 | €37,589 | €36,885 | -€704 | -1.9% |
| Income taxes | 67/77 | €9,104 | €18,633 | +€9,529 | +104.7% |
| Profit (loss) for the period | 9904 | €28,485 | €18,251 | -€10,233 | -35.9% |
| Profit (loss) for the period to be appropriated | 9905 | €28,485 | €18,251 | -€10,233 | -35.9% |
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.