VIETO: 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.
VIETO
Largest movements
- Current investments +€450,000
new in 2025: €450,000
- Tangible fixed assets -€160,740
down €160,740 (-31.9%), from €504,242 to €343,502
of which Land and buildings: -€180,198
- Cash +€160,712
up €160,712 (+399%), from €40,239 to €200,951
mainly Net result for the year (+€339,226) and Provisions (+€124,320)
- Reserves +€372,960
up €372,960 (+557%), from €67,000 to €439,960
of which Tax-exempt reserves: +€372,960
- Provisions +€124,320
new in 2025: €124,320
- Profit (loss) carried forward -€33,735
down €33,735 (-46.8%), from €72,103 to €38,369
- Gross operating margin +€480,055
up €480,055 (+769%), from €62,436 to €542,491
- Other operating charges +€8,783
up €8,783 (+37.0%), from €23,736 to €32,520
- Depreciation -€7,154
down €7,154 (-14.6%), from €48,930 to €41,775
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 | €923,986 | €1,374,224 | +€450,237 | +48.7% |
| Fixed assets | 21/28 | €803,242 | €642,502 | -€160,740 | -20.0% |
| Tangible fixed assets | 22/27 | €504,242 | €343,502 | -€160,740 | -31.9% |
| Land and buildings | 22 | €498,078 | €317,880 | -€180,198 | -36.2% |
| Plant, machinery and equipment | 23 | €1,433 | €15,284 | +€13,851 | +966% |
| Furniture and vehicles | 24 | €4,731 | €1,463 | -€3,268 | -69.1% |
| Other tangible fixed assets | 26 | - | €8,876 | +€8,876 | |
| Financial fixed assets | 28 | €299,000 | €299,000 | = | 0.0% |
| Current assets | 29/58 | €120,744 | €731,722 | +€610,978 | +506% |
| Amounts receivable within one year | 40/41 | €79,858 | €80,111 | +€253 | +0.3% |
| Trade receivables | 40 | €13,918 | €11,543 | -€2,375 | -17.1% |
| Other amounts receivable | 41 | €65,940 | €68,568 | +€2,628 | +4.0% |
| Current investments | 50/53 | - | €450,000 | +€450,000 | |
| Cash at bank and in hand | 54/58 | €40,239 | €200,951 | +€160,712 | +399% |
| Deferred charges and accrued income | 490/1 | €647 | €660 | +€13 | +2.0% |
| Total equity and liabilities | 10/49 | €923,986 | €1,374,224 | +€450,237 | +48.7% |
| Equity | 10/15 | €809,103 | €1,148,329 | +€339,226 | +41.9% |
| Contributions | 10/11 | €670,000 | €670,000 | = | 0.0% |
| Capital | 10 | €670,000 | €670,000 | = | 0.0% |
| Issued capital | 100 | €670,000 | €670,000 | = | 0.0% |
| Reserves | 13 | €67,000 | €439,960 | +€372,960 | +557% |
| Non-distributable reserves | 130/1 | €67,000 | €67,000 | = | 0.0% |
| Legal reserve | 130 | €67,000 | €67,000 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €372,960 | +€372,960 | |
| Profit (loss) carried forward | 14 | €72,103 | €38,369 | -€33,735 | -46.8% |
| Provisions and deferred taxes | 16 | - | €124,320 | +€124,320 | |
| Deferred taxes | 168 | - | €124,320 | +€124,320 | |
| Amounts payable | 17/49 | €114,883 | €101,575 | -€13,308 | -11.6% |
| Amounts payable after more than one year | 17 | €19,081 | €14,522 | -€4,558 | -23.9% |
| Financial debts | 170/4 | €19,081 | €14,522 | -€4,558 | -23.9% |
| Amounts payable within one year | 42/48 | €95,803 | €87,052 | -€8,750 | -9.1% |
| Current portion of amounts payable after more than one year | 42 | €4,495 | €4,558 | +€63 | +1.4% |
| Trade debts | 44 | €7,116 | €4,578 | -€2,539 | -35.7% |
| Suppliers | 440/4 | €7,116 | €4,578 | -€2,539 | -35.7% |
| Taxes, remuneration and social security | 45 | €18,621 | €22,323 | +€3,703 | +19.9% |
| Taxes | 450/3 | €18,621 | €22,323 | +€3,703 | +19.9% |
| Other amounts payable | 47/48 | €65,571 | €55,593 | -€9,977 | -15.2% |
| Non-recurring operating income | 76A | - | €497,280 | +€497,280 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,930 | €41,775 | -€7,154 | -14.6% |
| Other operating charges | 640/8 | €23,736 | €32,520 | +€8,783 | +37.0% |
| Non-recurring operating charges | 66A | - | €3,937 | +€3,937 | |
| Gross operating margin | 9900 | €62,436 | €542,491 | +€480,055 | +769% |
| Operating profit (loss) | 9901 | -€10,230 | €464,259 | +€474,490 | |
| Financial income | 75/76B | €54 | €209 | +€155 | +288% |
| Recurring financial income | 75 | €54 | €209 | +€155 | +288% |
| Financial charges | 65/66B | €421 | €891 | +€470 | +111% |
| Recurring financial charges | 65 | €421 | €891 | +€470 | +111% |
| Profit (loss) for the period before taxes | 9903 | -€10,598 | €463,578 | +€474,175 | |
| Transfer to deferred taxes | 680 | - | €124,320 | +€124,320 | |
| Income taxes | 67/77 | €1 | €32 | +€30 | +2,045% |
| Profit (loss) for the period | 9904 | -€10,599 | €339,226 | +€349,825 | |
| Transfer to tax-exempt reserves | 689 | - | €372,960 | +€372,960 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,599 | -€33,735 | -€23,135 | -218% |
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.