VIGAN ENGINEERING: 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.
What changed
VIGAN ENGINEERING
NACE 25.110, Manufacture of metal structures and parts of structures
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€1.9m
2024 · €1.7m-€3.6m
Equity
€4.4m
2024 · €6.4m-€1.9m
Cash
€3.1m
2024 · €458,162+€2.6m
Balance sheet total
€49.4m
2024 · €51.5m-€2.1m
Largest movements
Assets
- Receivables within one year -€6.6m
down €6.6m (-13.2%), from €49.6m to €43.0m
of which Trade receivables: -€8.3m
- Cash +€2.6m
up €2.6m (+571.1%), from €458,162 to €3.1m
mainly Receivables within one year (+€6.6m) and Advances received (+€1.8m)
- Intangible fixed assets +€2.1m
new in 2025: €2.1m
Equity and liabilities
- Profit (loss) carried forward -€1.9m
down €1.9m, from €1.7m to -€239,818
- Advances received +€1.8m
up €1.8m (+24.6%), from €7.4m to €9.3m
- Accrued charges and deferred income -€1.4m
down €1.4m (-29.2%), from €4.9m to €3.5m
Income statement
- Goods and materials +€5.1m
up €5.1m (+15.6%), from €32.7m to €37.8m
- Turnover +€2.9m
up €2.9m (+6.8%), from €42.1m to €44.9m
- Services and other goods +€2.2m
up €2.2m (+49.7%), from €4.4m to €6.6m
- Write-downs +€1.5m
new in 2025: €1.5m
- Taxes -€692,858
no longer reported in 2025 (was €692,858)
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.
Result 2024
€1.7m
Turnover
+€2.9m
Other operating income
+€68,976
Goods and materials
-€5.1m
Services and other goods
-€2.2m
Staff costs
-€207,724
Depreciation
+€50,709
Write-downs
-€1.5m
Provisions
+€63,416
Other operating charges
+€3,420
Other operating items
+€2.1m
Financial income
-€392,658
Financial charges
-€78,351
Taxes
+€692,858
Result 2025
-€1.9m
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.
From operations
+€4.8m
Investment
-€2.2m
Financing
€0
Cash 2024
€458,162
From operations (derived)
+€4.8m
Net result for the year
-€1.9m
Depreciation
+€89,124
Receivables within one year
+€6.6m
Deferred charges and accrued income
+€269,161
Provisions
-€23,541
Trade debts
-€374,846
Tax, wage and social debts
-€183,052
Advances received
+€1.8m
Other debts
+€3,133
Accrued charges and deferred income
-€1.4m
Investment (derived)
-€2.2m
Investment in fixed assets (net)
-€2.2m
Cash 2025
€3.1m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €51,523,425 | €49,405,397 | -€2.1m | -4.1% |
| Fixed assets | 21/28 | €168,873 | €2,271,665 | +€2.1m | +1245.2% |
| Intangible fixed assets | 21 | - | €2,109,408 | +€2.1m | |
| Tangible fixed assets | 22/27 | €168,683 | €162,067 | -€6,616 | -3.9% |
| Plant, machinery and equipment | 23 | €12,263 | €9,765 | -€2,498 | -20.4% |
| Furniture and vehicles | 24 | €143,116 | €152,302 | +€9,187 | +6.4% |
| Other tangible fixed assets | 26 | €13,304 | €0 | -€13,304 | -100.0% |
| Financial fixed assets | 28 | €191 | €191 | = | 0.0% |
| Other financial fixed assets | 284/8 | €191 | €191 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €191 | €191 | = | 0.0% |
| Current assets | 29/58 | €51,354,552 | €47,133,732 | -€4.2m | -8.2% |
| Amounts receivable within one year | 40/41 | €49,604,332 | €43,036,289 | -€6.6m | -13.2% |
| Trade receivables | 40 | €22,284,741 | €13,983,408 | -€8.3m | -37.3% |
| Other amounts receivable | 41 | €27,319,591 | €29,052,881 | +€1.7m | +6.3% |
| Current investments | 50/53 | €3,520 | €3,520 | = | 0.0% |
| Other investments | 51/53 | €3,520 | €3,520 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €458,162 | €3,074,547 | +€2.6m | +571.1% |
| Deferred charges and accrued income | 490/1 | €1,288,537 | €1,019,376 | -€269,161 | -20.9% |
| Total equity and liabilities | 10/49 | €51,523,425 | €49,405,397 | -€2.1m | -4.1% |
| Equity | 10/15 | €6,364,472 | €4,438,365 | -€1.9m | -30.3% |
| Contributions | 10/11 | €1,000,000 | €1,000,000 | = | 0.0% |
| Capital | 10 | €1,000,000 | €1,000,000 | = | 0.0% |
| Issued capital | 100 | €1,000,000 | €1,000,000 | = | 0.0% |
| Reserves | 13 | €3,678,182 | €3,678,182 | = | 0.0% |
| Non-distributable reserves | 130/1 | €100,000 | €100,000 | = | 0.0% |
| Legal reserve | 130 | €100,000 | €100,000 | = | 0.0% |
| Distributable reserves | 133 | €3,578,182 | €3,578,182 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,686,290 | -€239,818 | -€1.9m | |
| Provisions and deferred taxes | 16 | €379,614 | €356,073 | -€23,541 | -6.2% |
| Provisions for liabilities and charges | 160/5 | €379,614 | €356,073 | -€23,541 | -6.2% |
| Other liabilities and charges | 164/5 | €379,614 | €356,073 | -€23,541 | -6.2% |
| Amounts payable | 17/49 | €44,779,340 | €44,610,960 | -€168,379 | -0.4% |
| Amounts payable after more than one year | 17 | €1,183 | €1,183 | = | 0.0% |
| Financial debts | 170/4 | €1,183 | €1,183 | = | 0.0% |
| Unsubordinated bonds | 171 | €1,183 | €1,183 | = | 0.0% |
| Amounts payable within one year | 42/48 | €39,837,159 | €41,111,659 | +€1.3m | +3.2% |
| Trade debts | 44 | €30,967,770 | €30,592,923 | -€374,846 | -1.2% |
| Suppliers | 440/4 | €30,967,770 | €30,592,923 | -€374,846 | -1.2% |
| Advances received on contracts in progress | 46 | €7,434,951 | €9,264,216 | +€1.8m | +24.6% |
| Taxes, remuneration and social security | 45 | €1,434,438 | €1,251,386 | -€183,052 | -12.8% |
| Taxes | 450/3 | €992,858 | €803,860 | -€188,998 | -19.0% |
| Remuneration and social security | 454/9 | €441,580 | €447,526 | +€5,946 | +1.3% |
| Other amounts payable | 47/48 | - | €3,133 | +€3,133 | |
| Accrued charges and deferred income | 492/3 | €4,940,998 | €3,498,119 | -€1.4m | -29.2% |
| Operating income | 70/76A | €42,137,283 | €47,172,141 | +€5.0m | +11.9% |
| Turnover | 70 | €42,087,183 | €44,938,411 | +€2.9m | +6.8% |
| Own construction capitalised | 72 | - | €2,109,408 | +€2.1m | |
| Other operating income | 74 | €46,288 | €115,264 | +€68,976 | +149.0% |
| Non-recurring operating income | 76A | €3,812 | €9,058 | +€5,246 | +137.6% |
| Operating charges | 60/66A | €40,405,976 | €49,275,080 | +€8.9m | +21.9% |
| Goods for resale, raw materials and consumables | 60 | €32,700,074 | €37,808,307 | +€5.1m | +15.6% |
| Purchases | 600/8 | €32,700,074 | €37,808,307 | +€5.1m | +15.6% |
| Services and other goods | 61 | €4,440,572 | €6,649,586 | +€2.2m | +49.7% |
| Remuneration, social security and pensions | 62 | €3,077,529 | €3,285,253 | +€207,724 | +6.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €139,833 | €89,124 | -€50,709 | -36.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,461,678 | +€1.5m | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €39,875 | -€23,541 | -€63,416 | |
| Other operating charges | 640/8 | €8,093 | €4,673 | -€3,420 | -42.3% |
| Operating profit (loss) | 9901 | €1,731,306 | -€2,102,939 | -€3.8m | |
| Financial income | 75/76B | €816,349 | €423,691 | -€392,658 | -48.1% |
| Recurring financial income | 75 | €816,349 | €423,691 | -€392,658 | -48.1% |
| Income from current assets | 751 | €691,117 | €415,941 | -€275,175 | -39.8% |
| Other financial income | 752/9 | €125,233 | €7,750 | -€117,483 | -93.8% |
| Financial charges | 65/66B | €168,508 | €246,859 | +€78,351 | +46.5% |
| Recurring financial charges | 65 | €168,508 | €246,859 | +€78,351 | +46.5% |
| Other financial charges | 652/9 | €168,508 | €246,859 | +€78,351 | +46.5% |
| Profit (loss) for the period before taxes | 9903 | €2,379,147 | -€1,926,107 | -€4.3m | |
| Income taxes | 67/77 | €692,858 | - | -€692,858 | |
| Taxes | 670/3 | €692,858 | - | -€692,858 | |
| Profit (loss) for the period | 9904 | €1,686,290 | -€1,926,107 | -€3.6m | |
| Profit (loss) for the period to be appropriated | 9905 | €1,686,290 | -€1,926,107 | -€3.6m |
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 3 October 2026 via checked.be.