VIGAMO: 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.
VIGAMO
Largest movements
- Receivables within one year +€10,991
up €10,991 (+49.4%), from €22,229 to €33,220
of which Trade receivables: +€12,123
- Cash -€5,258
down €5,258 (-11.1%), from €47,425 to €42,167
mainly Receivables within one year (-€10,991) and Investment in fixed assets (net) (-€8,490)
- Tangible fixed assets +€4,786
up €4,786 (+140%), from €3,408 to €8,194
- Stocks and contracts +€2,062
up €2,062 (+27.7%), from €7,438 to €9,500
- Deferred charges and accrued income -€1,565
down €1,565 (-65.5%), from €2,388 to €823
- Profit (loss) carried forward +€13,336
up €13,336 (+195%), from €6,826 to €20,161
- Tax, wage and social debts -€4,384
down €4,384 (-13.5%), from €32,370 to €27,986
of which Remuneration and social security: -€4,390
- Accrued charges and deferred income +€2,109
up €2,109 (+321%), from €658 to €2,767
- Gross operating margin -€12,567
down €12,567 (-14.3%), from €87,907 to €75,341
- Staff costs -€5,031
down €5,031 (-8.9%), from €56,846 to €51,815
- Taxes +€3,132
up €3,132 (+216%), from €1,448 to €4,579
- Depreciation +€1,075
up €1,075 (+40.9%), from €2,630 to €3,704
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 | €82,888 | €93,904 | +€11,016 | +13.3% |
| Fixed assets | 21/28 | €3,408 | €8,194 | +€4,786 | +140% |
| Tangible fixed assets | 22/27 | €3,408 | €8,194 | +€4,786 | +140% |
| Plant, machinery and equipment | 23 | €3,408 | €8,194 | +€4,786 | +140% |
| Current assets | 29/58 | €79,480 | €85,710 | +€6,230 | +7.8% |
| Stocks and contracts in progress | 3 | €7,438 | €9,500 | +€2,062 | +27.7% |
| Stocks | 30/36 | €7,438 | €9,500 | +€2,062 | +27.7% |
| Amounts receivable within one year | 40/41 | €22,229 | €33,220 | +€10,991 | +49.4% |
| Trade receivables | 40 | €18,676 | €30,799 | +€12,123 | +64.9% |
| Other amounts receivable | 41 | €3,553 | €2,421 | -€1,132 | -31.9% |
| Cash at bank and in hand | 54/58 | €47,425 | €42,167 | -€5,258 | -11.1% |
| Deferred charges and accrued income | 490/1 | €2,388 | €823 | -€1,565 | -65.5% |
| Total equity and liabilities | 10/49 | €82,888 | €93,904 | +€11,016 | +13.3% |
| Equity | 10/15 | €46,826 | €60,161 | +€13,336 | +28.5% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,826 | €20,161 | +€13,336 | +195% |
| Amounts payable | 17/49 | €36,062 | €33,743 | -€2,320 | -6.4% |
| Amounts payable within one year | 42/48 | €35,405 | €30,976 | -€4,428 | -12.5% |
| Trade debts | 44 | €3,034 | €2,990 | -€45 | -1.5% |
| Suppliers | 440/4 | €3,034 | €2,990 | -€45 | -1.5% |
| Taxes, remuneration and social security | 45 | €32,370 | €27,986 | -€4,384 | -13.5% |
| Taxes | 450/3 | €13,914 | €13,920 | +€6 | 0.0% |
| Remuneration and social security | 454/9 | €18,456 | €14,066 | -€4,390 | -23.8% |
| Accrued charges and deferred income | 492/3 | €658 | €2,767 | +€2,109 | +321% |
| Remuneration, social security and pensions | 62 | €56,846 | €51,815 | -€5,031 | -8.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,630 | €3,704 | +€1,075 | +40.9% |
| Other operating charges | 640/8 | €1,283 | €1,361 | +€78 | +6.1% |
| Gross operating margin | 9900 | €87,907 | €75,341 | -€12,567 | -14.3% |
| Operating profit (loss) | 9901 | €27,149 | €18,461 | -€8,688 | -32.0% |
| Financial income | 75/76B | €126 | - | -€126 | |
| Recurring financial income | 75 | €126 | - | -€126 | |
| Financial charges | 65/66B | €489 | €546 | +€57 | +11.7% |
| Recurring financial charges | 65 | €489 | €546 | +€57 | +11.7% |
| Non-recurring financial charges | 66B | €489 | - | -€489 | |
| Profit (loss) for the period before taxes | 9903 | €26,786 | €17,915 | -€8,872 | -33.1% |
| Income taxes | 67/77 | €1,448 | €4,579 | +€3,132 | +216% |
| Profit (loss) for the period | 9904 | €25,339 | €13,336 | -€12,003 | -47.4% |
| Profit (loss) for the period to be appropriated | 9905 | €25,339 | €13,336 | -€12,003 | -47.4% |
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 19 October 2026 via checked.be.