VIET-BEL: 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.
VIET-BEL
Largest movements
- Receivables within one year -€3,248
down €3,248 (-24.1%), from €13,457 to €10,209
of which Trade receivables: -€1,719
- Cash -€2,402
down €2,402 (-22.7%), from €10,577 to €8,176
mainly Trade debts (-€4,265) and Net result for the year (-€3,149)
- Deferred charges and accrued income -€2,177
down €2,177 (-100%), from €2,177 to €0
- Stocks and contracts +€700
up €700 (+2.6%), from €26,450 to €27,150
- Trade debts -€4,265
down €4,265 (-82.1%), from €5,197 to €932
- Profit (loss) carried forward -€3,149
down €3,149 (-145%), from -€2,171 to -€5,320
- Staff costs +€16,246
new in 2025: €16,246
- Gross operating margin +€15,096
up €15,096, from -€888 to €14,208
- Depreciation -€366
down €366 (-40.7%), from €899 to €533
- Taxes +€208
up €208, from -€208 to €0
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.
Derived cash bridge
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 | €55,517 | €47,857 | -€7,660 | -13.8% |
| Fixed assets | 21/28 | €2,855 | €2,322 | -€533 | -18.7% |
| Tangible fixed assets | 22/27 | €533 | €0 | -€533 | -100.0% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €533 | €0 | -€533 | -100.0% |
| Financial fixed assets | 28 | €2,322 | €2,322 | = | 0.0% |
| Current assets | 29/58 | €52,661 | €45,535 | -€7,126 | -13.5% |
| Stocks and contracts in progress | 3 | €26,450 | €27,150 | +€700 | +2.6% |
| Stocks | 30/36 | €26,450 | €27,150 | +€700 | +2.6% |
| Amounts receivable within one year | 40/41 | €13,457 | €10,209 | -€3,248 | -24.1% |
| Trade receivables | 40 | €2,181 | €462 | -€1,719 | -78.8% |
| Other amounts receivable | 41 | €11,276 | €9,747 | -€1,529 | -13.6% |
| Cash at bank and in hand | 54/58 | €10,577 | €8,176 | -€2,402 | -22.7% |
| Deferred charges and accrued income | 490/1 | €2,177 | €0 | -€2,177 | -100% |
| Total equity and liabilities | 10/49 | €55,517 | €47,857 | -€7,660 | -13.8% |
| Equity | 10/15 | €48,935 | €45,786 | -€3,149 | -6.4% |
| Contributions | 10/11 | €37,200 | €37,200 | = | 0.0% |
| Reserves | 13 | €13,907 | €13,907 | = | 0.0% |
| Distributable reserves | 133 | €13,907 | €13,907 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,171 | -€5,320 | -€3,149 | -145% |
| Amounts payable | 17/49 | €6,581 | €2,071 | -€4,511 | -68.5% |
| Amounts payable within one year | 42/48 | €6,581 | €2,071 | -€4,511 | -68.5% |
| Trade debts | 44 | €5,197 | €932 | -€4,265 | -82.1% |
| Suppliers | 440/4 | €5,197 | €932 | -€4,265 | -82.1% |
| Taxes, remuneration and social security | 45 | €1,384 | €1,139 | -€245 | -17.7% |
| Taxes | 450/3 | €1,384 | €1,139 | -€245 | -17.7% |
| Remuneration, social security and pensions | 62 | - | €16,246 | +€16,246 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €899 | €533 | -€366 | -40.7% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | -€888 | €14,208 | +€15,096 | |
| Operating profit (loss) | 9901 | -€2,175 | -€2,970 | -€796 | -36.6% |
| Financial income | 75/76B | €1 | €0 | -€1 | -68.5% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -68.5% |
| Financial charges | 65/66B | €206 | €179 | -€27 | -13.0% |
| Recurring financial charges | 65 | €206 | €179 | -€27 | -13.0% |
| Profit (loss) for the period before taxes | 9903 | -€2,379 | -€3,149 | -€770 | -32.3% |
| Income taxes | 67/77 | -€208 | €0 | +€208 | |
| Profit (loss) for the period | 9904 | -€2,171 | -€3,149 | -€978 | -45.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,171 | -€3,149 | -€978 | -45.0% |
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 18 October 2026 via checked.be.