VIETRO: 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.
VIETRO
Largest movements
- Tangible fixed assets +€41,295
up €41,295 (+402%), from €10,275 to €51,570
of which Leasing and similar rights: +€47,211
- Receivables after one year +€28,000
up €28,000 (+28.0%), from €100,000 to €128,000
- Cash -€9,394
down €9,394 (-36.6%), from €25,691 to €16,296
mainly Investment in fixed assets (net) (-€48,468) and Receivables after one year (-€28,000)
- Receivables within one year +€5,038
up €5,038 (+22.2%), from €22,697 to €27,735
of which Other amounts receivable: +€3,300
- Debts after one year +€32,535
new in 2025: €32,535
- Reserves +€26,831
up €26,831 (+25.0%), from €107,130 to €133,961
of which Distributable reserves: +€26,831
- Tax, wage and social debts -€20,152
down €20,152 (-51.3%), from €39,298 to €19,147
- Short-term financial debts +€12,500
new in 2025: €12,500
- Current portion of long-term debt +€7,587
new in 2025: €7,587
- Gross operating margin -€25,977
down €25,977 (-38.0%), from €68,418 to €42,441
- Taxes -€21,915
down €21,915 (-68.5%), from €32,009 to €10,094
- Other operating charges -€10,412
down €10,412 (-97.8%), from €10,647 to €234
- Financial charges -€1,467
down €1,467 (-67.4%), from €2,176 to €709
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 | €158,663 | €223,601 | +€64,938 | +40.9% |
| Fixed assets | 21/28 | €10,275 | €51,570 | +€41,295 | +402% |
| Tangible fixed assets | 22/27 | €10,275 | €51,570 | +€41,295 | +402% |
| Plant, machinery and equipment | 23 | €381 | - | -€381 | |
| Furniture and vehicles | 24 | €133 | €1,095 | +€962 | +722% |
| Leasing and similar rights | 25 | - | €47,211 | +€47,211 | |
| Other tangible fixed assets | 26 | €9,761 | €3,264 | -€6,496 | -66.6% |
| Current assets | 29/58 | €148,388 | €172,031 | +€23,643 | +15.9% |
| Amounts receivable after more than one year | 29 | €100,000 | €128,000 | +€28,000 | +28.0% |
| Other amounts receivable | 291 | €100,000 | €128,000 | +€28,000 | +28.0% |
| Amounts receivable within one year | 40/41 | €22,697 | €27,735 | +€5,038 | +22.2% |
| Trade receivables | 40 | €18,559 | €20,297 | +€1,737 | +9.4% |
| Other amounts receivable | 41 | €4,138 | €7,438 | +€3,300 | +79.8% |
| Cash at bank and in hand | 54/58 | €25,691 | €16,296 | -€9,394 | -36.6% |
| Total equity and liabilities | 10/49 | €158,663 | €223,601 | +€64,938 | +40.9% |
| Equity | 10/15 | €113,380 | €140,211 | +€26,831 | +23.7% |
| Contributions | 10/11 | €6,250 | €6,250 | = | 0.0% |
| Reserves | 13 | €107,130 | €133,961 | +€26,831 | +25.0% |
| Non-distributable reserves | 130/1 | €1,875 | €1,875 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,875 | €1,875 | = | 0.0% |
| Distributable reserves | 133 | €105,255 | €132,086 | +€26,831 | +25.5% |
| Amounts payable | 17/49 | €45,283 | €83,390 | +€38,108 | +84.2% |
| Amounts payable after more than one year | 17 | - | €32,535 | +€32,535 | |
| Financial debts | 170/4 | - | €32,535 | +€32,535 | |
| Amounts payable within one year | 42/48 | €44,163 | €50,855 | +€6,692 | +15.2% |
| Current portion of amounts payable after more than one year | 42 | - | €7,587 | +€7,587 | |
| Financial debts | 43 | - | €12,500 | +€12,500 | |
| Credit institutions | 430/8 | - | €12,500 | +€12,500 | |
| Trade debts | 44 | €4,326 | €10,100 | +€5,774 | +133% |
| Suppliers | 440/4 | €4,326 | €10,100 | +€5,774 | +133% |
| Taxes, remuneration and social security | 45 | €39,298 | €19,147 | -€20,152 | -51.3% |
| Taxes | 450/3 | €39,298 | €19,147 | -€20,152 | -51.3% |
| Other amounts payable | 47/48 | €539 | €1,521 | +€982 | +182% |
| Accrued charges and deferred income | 492/3 | €1,119 | - | -€1,119 | |
| Non-recurring operating income | 76A | - | €367 | +€367 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,363 | €7,173 | -€190 | -2.6% |
| Other operating charges | 640/8 | €10,647 | €234 | -€10,412 | -97.8% |
| Gross operating margin | 9900 | €68,418 | €42,441 | -€25,977 | -38.0% |
| Operating profit (loss) | 9901 | €50,408 | €35,034 | -€15,374 | -30.5% |
| Financial income | 75/76B | €2,018 | €2,599 | +€581 | +28.8% |
| Recurring financial income | 75 | €2,018 | €2,599 | +€581 | +28.8% |
| Financial charges | 65/66B | €2,176 | €709 | -€1,467 | -67.4% |
| Recurring financial charges | 65 | €2,176 | €709 | -€1,467 | -67.4% |
| Profit (loss) for the period before taxes | 9903 | €50,251 | €36,925 | -€13,326 | -26.5% |
| Income taxes | 67/77 | €32,009 | €10,094 | -€21,915 | -68.5% |
| Profit (loss) for the period | 9904 | €18,242 | €26,831 | +€8,589 | +47.1% |
| Profit (loss) for the period to be appropriated | 9905 | €18,242 | €26,831 | +€8,589 | +47.1% |
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.