VIGO: what changed
What changed
VIGO
NACE 43.990, Other specialised construction activities
filed annual accounts (NBB)
Net result for the year
€58,913
2024 · €205,452-€146,539
Equity
€847,766
2024 · €788,853+€58,913
Cash
€169,278
2024 · €126,987+€42,291
Balance sheet total
€1.5m
2024 · €1.3m+€126,815
Largest movements
Assets
- Tangible fixed assets +€101,490
up €101,490 (+21.3%), from €475,719 to €577,209
of which Land and buildings: +€82,342
- Cash +€42,291
up €42,291 (+33.3%), from €126,987 to €169,278
mainly Trade debts (+€61,413) and Net result for the year (+€58,913)
- Deferred charges and accrued income -€28,244
down €28,244 (-47.4%), from €59,597 to €31,353
Equity and liabilities
- Trade debts +€61,413
up €61,413 (+51.3%), from €119,700 to €181,113
- Reserves +€58,913
up €58,913 (+8.1%), from €726,853 to €785,766
of which Distributable reserves: +€58,913
- Current portion of long-term debt +€17,218
up €17,218 (+26.8%), from €64,143 to €81,361
Income statement
- Gross operating margin -€246,114
down €246,114 (-21.0%), from €1.2m to €925,631
- Staff costs +€65,767
up €65,767 (+9.4%), from €698,726 to €764,493
- Taxes -€26,863
down €26,863, from €18,036 to -€8,827
- Other operating charges +€16,861
up €16,861 (+38.6%), from €43,667 to €60,528
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€205,452
Gross operating margin
-€246,114
Staff costs
-€65,767
Depreciation
-€1,317
Other operating charges
-€16,861
Financial income
+€332
Financial charges
+€318
Taxes
+€26,863
Deferred taxes and other
+€156,007
Result 2025
€58,913
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€166,099
Investment
-€142,425
Financing
+€18,617
Cash 2024
€126,987
From operations (derived)
+€166,099
Net result for the year
+€58,913
Depreciation
+€42,011
Receivables within one year
-€12,354
Deferred charges and accrued income
+€28,244
Trade debts
+€61,413
Tax, wage and social debts
-€7,213
Other debts
-€4,915
Investment (derived)
-€142,425
Investment in fixed assets (net)
-€142,425
Financing
+€18,617
Debts after one year
+€1,399
Current portion of long-term debt
+€17,218
Cash 2025
€169,278
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,348,349 | €1,475,164 | +€126,815 | +9.4% |
| Fixed assets | 21/28 | €507,073 | €607,487 | +€100,414 | +19.8% |
| Intangible fixed assets | 21 | €2,153 | €1,077 | -€1,076 | -50.0% |
| Tangible fixed assets | 22/27 | €475,719 | €577,209 | +€101,490 | +21.3% |
| Land and buildings | 22 | €410,054 | €492,396 | +€82,342 | +20.1% |
| Plant, machinery and equipment | 23 | €64,595 | €51,414 | -€13,181 | -20.4% |
| Furniture and vehicles | 24 | €1,070 | €33,399 | +€32,329 | +3,021% |
| Financial fixed assets | 28 | €29,201 | €29,201 | = | 0.0% |
| Current assets | 29/58 | €841,276 | €867,677 | +€26,401 | +3.1% |
| Amounts receivable within one year | 40/41 | €654,692 | €667,046 | +€12,354 | +1.9% |
| Trade receivables | 40 | €34,898 | €62,752 | +€27,854 | +79.8% |
| Other amounts receivable | 41 | €619,794 | €604,294 | -€15,500 | -2.5% |
| Cash at bank and in hand | 54/58 | €126,987 | €169,278 | +€42,291 | +33.3% |
| Deferred charges and accrued income | 490/1 | €59,597 | €31,353 | -€28,244 | -47.4% |
| Total equity and liabilities | 10/49 | €1,348,349 | €1,475,164 | +€126,815 | +9.4% |
| Equity | 10/15 | €788,853 | €847,766 | +€58,913 | +7.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €726,853 | €785,766 | +€58,913 | +8.1% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €468,021 | €468,021 | = | 0.0% |
| Distributable reserves | 133 | €252,632 | €311,545 | +€58,913 | +23.3% |
| Provisions and deferred taxes | 16 | €156,007 | €156,007 | = | 0.0% |
| Deferred taxes | 168 | €156,007 | €156,007 | = | 0.0% |
| Amounts payable | 17/49 | €403,489 | €471,391 | +€67,902 | +16.8% |
| Amounts payable after more than one year | 17 | €86,026 | €87,425 | +€1,399 | +1.6% |
| Financial debts | 170/4 | €86,026 | €87,425 | +€1,399 | +1.6% |
| Amounts payable within one year | 42/48 | €317,463 | €383,966 | +€66,503 | +20.9% |
| Current portion of amounts payable after more than one year | 42 | €64,143 | €81,361 | +€17,218 | +26.8% |
| Financial debts | 43 | €80,000 | €80,000 | = | 0.0% |
| Credit institutions | 430/8 | €80,000 | €80,000 | = | 0.0% |
| Trade debts | 44 | €119,700 | €181,113 | +€61,413 | +51.3% |
| Suppliers | 440/4 | €119,700 | €181,113 | +€61,413 | +51.3% |
| Taxes, remuneration and social security | 45 | €28,942 | €21,729 | -€7,213 | -24.9% |
| Taxes | 450/3 | €40 | €2,724 | +€2,684 | +6,710% |
| Remuneration and social security | 454/9 | €28,902 | €19,005 | -€9,897 | -34.2% |
| Other amounts payable | 47/48 | €24,678 | €19,763 | -€4,915 | -19.9% |
| Remuneration, social security and pensions | 62 | €698,726 | €764,493 | +€65,767 | +9.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,694 | €42,011 | +€1,317 | +3.2% |
| Other operating charges | 640/8 | €43,667 | €60,528 | +€16,861 | +38.6% |
| Gross operating margin | 9900 | €1,171,745 | €925,631 | -€246,114 | -21.0% |
| Operating profit (loss) | 9901 | €388,658 | €58,599 | -€330,059 | -84.9% |
| Financial income | 75/76B | - | €332 | +€332 | |
| Recurring financial income | 75 | - | €332 | +€332 | |
| Financial charges | 65/66B | €9,163 | €8,845 | -€318 | -3.5% |
| Recurring financial charges | 65 | €9,163 | €8,845 | -€318 | -3.5% |
| Profit (loss) for the period before taxes | 9903 | €379,495 | €50,086 | -€329,409 | -86.8% |
| Transfer to deferred taxes | 680 | €156,007 | - | -€156,007 | |
| Income taxes | 67/77 | €18,036 | -€8,827 | -€26,863 | |
| Profit (loss) for the period | 9904 | €205,452 | €58,913 | -€146,539 | -71.3% |
| Transfer to tax-exempt reserves | 689 | €468,021 | - | -€468,021 | |
| Profit (loss) for the period to be appropriated | 9905 | -€262,569 | €58,913 | +€321,482 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.