VIGEMA: 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.
VIGEMA
Largest movements
- Intangible fixed assets -€30,000
down €30,000 (-22.2%), from €135,000 to €105,000
- Cash +€13,872
up €13,872 (+67.2%), from €20,651 to €34,523
mainly Net result for the year (+€40,581) and Depreciation (+€31,971)
- Receivables within one year -€2,768
down €2,768 (-8.0%), from €34,392 to €31,624
of which Other amounts receivable: -€6,417
- Debts after one year -€30,477
down €30,477 (-25.2%), from €121,171 to €90,694
- Reserves +€15,000
new in 2025: €15,000
- Profit (loss) carried forward -€9,419
down €9,419 (-95.4%), from €9,869 to €450
- Tax, wage and social debts +€9,197
up €9,197 (+46.3%), from €19,872 to €29,069
- Trade debts -€3,360
down €3,360 (-61.5%), from €5,466 to €2,106
- Gross operating margin +€32,048
up €32,048 (+52.8%), from €60,665 to €92,713
- Taxes +€7,182
up €7,182 (+107.1%), from €6,704 to €13,885
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €205,145 | €186,396 | -€18,749 | -9.1% |
| Fixed assets | 21/28 | €149,199 | €119,228 | -€29,971 | -20.1% |
| Intangible fixed assets | 21 | €135,000 | €105,000 | -€30,000 | -22.2% |
| Tangible fixed assets | 22/27 | €14,199 | €12,228 | -€1,971 | -13.9% |
| Plant, machinery and equipment | 23 | €545 | €460 | -€85 | -15.6% |
| Other tangible fixed assets | 26 | €13,654 | €11,768 | -€1,886 | -13.8% |
| Financial fixed assets | 28 | - | €2,000 | +€2,000 | |
| Current assets | 29/58 | €55,945 | €67,167 | +€11,222 | +20.1% |
| Amounts receivable within one year | 40/41 | €34,392 | €31,624 | -€2,768 | -8.0% |
| Trade receivables | 40 | €18,132 | €21,780 | +€3,648 | +20.1% |
| Other amounts receivable | 41 | €16,260 | €9,844 | -€6,417 | -39.5% |
| Cash at bank and in hand | 54/58 | €20,651 | €34,523 | +€13,872 | +67.2% |
| Deferred charges and accrued income | 490/1 | €902 | €1,021 | +€119 | +13.2% |
| Total equity and liabilities | 10/49 | €205,145 | €186,396 | -€18,749 | -9.1% |
| Equity | 10/15 | €28,469 | €34,050 | +€5,581 | +19.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | - | €15,000 | +€15,000 | |
| Distributable reserves | 133 | - | €15,000 | +€15,000 | |
| Profit (loss) carried forward | 14 | €9,869 | €450 | -€9,419 | -95.4% |
| Amounts payable | 17/49 | €176,675 | €152,346 | -€24,330 | -13.8% |
| Amounts payable after more than one year | 17 | €121,171 | €90,694 | -€30,477 | -25.2% |
| Financial debts | 170/4 | €121,171 | €90,694 | -€30,477 | -25.2% |
| Amounts payable within one year | 42/48 | €55,504 | €61,652 | +€6,147 | +11.1% |
| Current portion of amounts payable after more than one year | 42 | €30,167 | €30,477 | +€310 | +1.0% |
| Trade debts | 44 | €5,466 | €2,106 | -€3,360 | -61.5% |
| Suppliers | 440/4 | €5,466 | €2,106 | -€3,360 | -61.5% |
| Taxes, remuneration and social security | 45 | €19,872 | €29,069 | +€9,197 | +46.3% |
| Taxes | 450/3 | €19,872 | €29,069 | +€9,197 | +46.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,101 | €31,971 | -€130 | -0.4% |
| Other operating charges | 640/8 | €803 | €1,249 | +€446 | +55.5% |
| Gross operating margin | 9900 | €60,665 | €92,713 | +€32,048 | +52.8% |
| Operating profit (loss) | 9901 | €27,761 | €59,493 | +€31,732 | +114.3% |
| Financial income | 75/76B | €886 | €816 | -€70 | -7.9% |
| Recurring financial income | 75 | €886 | €816 | -€70 | -7.9% |
| Financial charges | 65/66B | €5,038 | €5,842 | +€804 | +16.0% |
| Recurring financial charges | 65 | €5,038 | €5,842 | +€804 | +16.0% |
| Profit (loss) for the period before taxes | 9903 | €23,609 | €54,466 | +€30,857 | +130.7% |
| Income taxes | 67/77 | €6,704 | €13,885 | +€7,182 | +107.1% |
| Profit (loss) for the period | 9904 | €16,905 | €40,581 | +€23,676 | +140.1% |
| Profit (loss) for the period to be appropriated | 9905 | €16,905 | €40,581 | +€23,676 | +140.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.