VIGO: 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.
VIGO
Largest movements
- Current investments -€108,763
no longer reported in 2025 (was €108,763)
- Tangible fixed assets -€57,122
down €57,122 (-3.4%), from €1.7m to €1.6m
of which Land and buildings: -€57,122
- Cash +€24,123
up €24,123 (+33.9%), from €71,094 to €95,218
mainly Current investments (+€108,763) and Other debts (+€98,956)
- Reserves -€126,054
down €126,054 (-23.9%), from €527,840 to €401,786
of which Non-distributable reserves: -€108,763
- Other debts +€98,956
up €98,956 (+3889.8%), from €2,544 to €101,500
- Profit (loss) carried forward -€67,150
down €67,150 (-26.2%), from €256,077 to €188,926
- Debts after one year -€36,550
down €36,550 (-14.5%), from €251,294 to €214,743
- Financial charges +€31,870
up €31,870 (+852.6%), from €3,738 to €35,608
of which Non-recurring financial charges: +€32,629
- Gross operating margin +€4,378
up €4,378 (+3.3%), from €133,745 to €138,123
- Depreciation -€3,998
down €3,998 (-6.5%), from €61,120 to €57,122
- Taxes +€2,142
up €2,142 (+10.6%), from €20,267 to €22,409
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 | €1,848,919 | €1,706,344 | -€142,575 | -7.7% |
| Fixed assets | 21/28 | €1,665,300 | €1,608,533 | -€56,767 | -3.4% |
| Tangible fixed assets | 22/27 | €1,661,058 | €1,603,936 | -€57,122 | -3.4% |
| Land and buildings | 22 | €1,659,786 | €1,602,664 | -€57,122 | -3.4% |
| Other tangible fixed assets | 26 | €1,272 | €1,272 | = | 0.0% |
| Financial fixed assets | 28 | €4,243 | €4,598 | +€355 | +8.4% |
| Current assets | 29/58 | €183,619 | €97,811 | -€85,808 | -46.7% |
| Amounts receivable within one year | 40/41 | - | €185 | +€185 | |
| Other amounts receivable | 41 | - | €185 | +€185 | |
| Current investments | 50/53 | €108,763 | - | -€108,763 | |
| Cash at bank and in hand | 54/58 | €71,094 | €95,218 | +€24,123 | +33.9% |
| Deferred charges and accrued income | 490/1 | €3,761 | €2,409 | -€1,352 | -36.0% |
| Total equity and liabilities | 10/49 | €1,848,919 | €1,706,344 | -€142,575 | -7.7% |
| Equity | 10/15 | €1,341,677 | €1,148,473 | -€193,204 | -14.4% |
| Contributions | 10/11 | €557,760 | €557,760 | = | 0.0% |
| Capital | 10 | €557,760 | €557,760 | = | 0.0% |
| Issued capital | 100 | €557,760 | €557,760 | = | 0.0% |
| Reserves | 13 | €527,840 | €401,786 | -€126,054 | -23.9% |
| Non-distributable reserves | 130/1 | €164,539 | €55,776 | -€108,763 | -66.1% |
| Legal reserve | 130 | €55,776 | €55,776 | = | 0.0% |
| Own shares acquired | 1312 | €108,763 | - | -€108,763 | |
| Tax-exempt reserves | 132 | €363,301 | €346,010 | -€17,291 | -4.8% |
| Profit (loss) carried forward | 14 | €256,077 | €188,926 | -€67,150 | -26.2% |
| Provisions and deferred taxes | 16 | €187,072 | €178,168 | -€8,903 | -4.8% |
| Deferred taxes | 168 | €187,072 | €178,168 | -€8,903 | -4.8% |
| Amounts payable | 17/49 | €320,170 | €379,703 | +€59,533 | +18.6% |
| Amounts payable after more than one year | 17 | €251,294 | €214,743 | -€36,550 | -14.5% |
| Financial debts | 170/4 | €251,294 | €214,743 | -€36,550 | -14.5% |
| Amounts payable within one year | 42/48 | €62,827 | €159,399 | +€96,573 | +153.7% |
| Current portion of amounts payable after more than one year | 42 | €36,205 | €36,550 | +€345 | +1.0% |
| Financial debts | 43 | €7,197 | €1,010 | -€6,187 | -86.0% |
| Credit institutions | 430/8 | €7,197 | €1,010 | -€6,187 | -86.0% |
| Trade debts | 44 | €1,666 | €1,957 | +€291 | +17.4% |
| Suppliers | 440/4 | €1,666 | €1,957 | +€291 | +17.4% |
| Taxes, remuneration and social security | 45 | €15,215 | €18,382 | +€3,167 | +20.8% |
| Taxes | 450/3 | €15,215 | €18,382 | +€3,167 | +20.8% |
| Other amounts payable | 47/48 | €2,544 | €101,500 | +€98,956 | +3889.8% |
| Accrued charges and deferred income | 492/3 | €6,050 | €5,560 | -€489 | -8.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,120 | €57,122 | -€3,998 | -6.5% |
| Other operating charges | 640/8 | €16,787 | €17,184 | +€397 | +2.4% |
| Gross operating margin | 9900 | €133,745 | €138,123 | +€4,378 | +3.3% |
| Operating profit (loss) | 9901 | €55,838 | €63,817 | +€7,979 | +14.3% |
| Financial income | 75/76B | €122 | €855 | +€733 | +598.4% |
| Recurring financial income | 75 | €122 | €855 | +€733 | +598.4% |
| Financial charges | 65/66B | €3,738 | €35,608 | +€31,870 | +852.6% |
| Recurring financial charges | 65 | €3,738 | €2,979 | -€759 | -20.3% |
| Non-recurring financial charges | 66B | - | €32,629 | +€32,629 | |
| Profit (loss) for the period before taxes | 9903 | €52,223 | €29,064 | -€23,158 | -44.3% |
| Transfer from deferred taxes | 780 | €8,903 | €8,903 | = | 0.0% |
| Income taxes | 67/77 | €20,267 | €22,409 | +€2,142 | +10.6% |
| Profit (loss) for the period | 9904 | €40,859 | €15,559 | -€25,300 | -61.9% |
| Transfer from tax-exempt reserves | 789 | €17,291 | €17,291 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €58,150 | €32,850 | -€25,300 | -43.5% |
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 11 October 2026 via checked.be.