ViEr: 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.
ViEr
Largest movements
- Tangible fixed assets +€443,359
up €443,359 (+96.0%), from €461,676 to €905,035
of which Land and buildings: +€862,340
- Receivables within one year +€29,143
up €29,143 (+63.5%), from €45,867 to €75,010
of which Other amounts receivable: +€26,006
- Cash -€14,045
down €14,045 (-44.9%), from €31,253 to €17,208
mainly Investment in fixed assets (net) (-€525,276) and Receivables within one year (-€29,143)
- Debts after one year +€460,067
up €460,067 (+151.2%), from €304,241 to €764,308
- Reserves -€19,306
down €19,306 (-17.1%), from €112,928 to €93,622
- Trade debts +€17,896
up €17,896 (+125.3%), from €14,288 to €32,184
- Staff costs +€42,908
up €42,908 (+29.7%), from €144,320 to €187,228
- Gross operating margin +€26,310
up €26,310 (+10.3%), from €255,019 to €281,329
- Financial charges +€22,970
up €22,970 (+199.7%), from €11,500 to €34,470
- Depreciation +€14,495
up €14,495 (+21.5%), from €67,422 to €81,918
- Taxes -€6,909
down €6,909 (-98.7%), from €6,998 to €89
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 | €561,030 | €1,017,598 | +€456,567 | +81.4% |
| Fixed assets | 21/28 | €462,534 | €905,892 | +€443,359 | +95.9% |
| Tangible fixed assets | 22/27 | €461,676 | €905,035 | +€443,359 | +96.0% |
| Land and buildings | 22 | - | €862,340 | +€862,340 | |
| Plant, machinery and equipment | 23 | €17,621 | €15,362 | -€2,259 | -12.8% |
| Furniture and vehicles | 24 | €15,145 | €13,947 | -€1,198 | -7.9% |
| Other tangible fixed assets | 26 | €428,910 | €13,386 | -€415,523 | -96.9% |
| Financial fixed assets | 28 | €858 | €858 | = | 0.0% |
| Current assets | 29/58 | €98,497 | €111,705 | +€13,208 | +13.4% |
| Stocks and contracts in progress | 3 | €18,769 | €16,715 | -€2,054 | -10.9% |
| Stocks | 30/36 | €18,769 | €16,715 | -€2,054 | -10.9% |
| Amounts receivable within one year | 40/41 | €45,867 | €75,010 | +€29,143 | +63.5% |
| Trade receivables | 40 | €480 | €3,617 | +€3,136 | +653.3% |
| Other amounts receivable | 41 | €45,387 | €71,394 | +€26,006 | +57.3% |
| Cash at bank and in hand | 54/58 | €31,253 | €17,208 | -€14,045 | -44.9% |
| Deferred charges and accrued income | 490/1 | €2,608 | €2,773 | +€165 | +6.3% |
| Total equity and liabilities | 10/49 | €561,030 | €1,017,598 | +€456,567 | +81.4% |
| Equity | 10/15 | €119,128 | €99,822 | -€19,306 | -16.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €112,928 | €93,622 | -€19,306 | -17.1% |
| Distributable reserves | 133 | €112,928 | €93,622 | -€19,306 | -17.1% |
| Amounts payable | 17/49 | €441,902 | €917,776 | +€475,874 | +107.7% |
| Amounts payable after more than one year | 17 | €304,241 | €764,308 | +€460,067 | +151.2% |
| Financial debts | 170/4 | €304,241 | €764,308 | +€460,067 | +151.2% |
| Amounts payable within one year | 42/48 | €113,984 | €130,201 | +€16,218 | +14.2% |
| Current portion of amounts payable after more than one year | 42 | €71,775 | €63,786 | -€7,989 | -11.1% |
| Financial debts | 43 | €2,310 | €0 | -€2,310 | -100.0% |
| Credit institutions | 430/8 | €2,310 | €0 | -€2,310 | -100.0% |
| Trade debts | 44 | €14,288 | €32,184 | +€17,896 | +125.3% |
| Suppliers | 440/4 | €14,288 | €32,184 | +€17,896 | +125.3% |
| Taxes, remuneration and social security | 45 | €25,611 | €34,231 | +€8,620 | +33.7% |
| Taxes | 450/3 | €16,118 | €12,793 | -€3,325 | -20.6% |
| Remuneration and social security | 454/9 | €9,493 | €21,438 | +€11,945 | +125.8% |
| Accrued charges and deferred income | 492/3 | €23,678 | €23,267 | -€411 | -1.7% |
| Non-recurring operating income | 76A | €501 | €0 | -€501 | -100.0% |
| Remuneration, social security and pensions | 62 | €144,320 | €187,228 | +€42,908 | +29.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,422 | €81,918 | +€14,495 | +21.5% |
| Other operating charges | 640/8 | €1,379 | €1,128 | -€252 | -18.3% |
| Gross operating margin | 9900 | €255,019 | €281,329 | +€26,310 | +10.3% |
| Operating profit (loss) | 9901 | €41,897 | €11,056 | -€30,842 | -73.6% |
| Financial income | 75/76B | €4,048 | €4,197 | +€150 | +3.7% |
| Recurring financial income | 75 | €4,048 | €4,197 | +€150 | +3.7% |
| Financial charges | 65/66B | €11,500 | €34,470 | +€22,970 | +199.7% |
| Recurring financial charges | 65 | €11,500 | €34,470 | +€22,970 | +199.7% |
| Profit (loss) for the period before taxes | 9903 | €34,445 | -€19,217 | -€53,662 | |
| Income taxes | 67/77 | €6,998 | €89 | -€6,909 | -98.7% |
| Profit (loss) for the period | 9904 | €27,447 | -€19,306 | -€46,753 | |
| Profit (loss) for the period to be appropriated | 9905 | €27,447 | -€19,306 | -€46,753 |
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 8 October 2026 via checked.be.