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.
What changed
VIGO
NACE 32.500, Manufacture of medical and dental instruments and supplies
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€8.3m
2024 · €9.7m-€1.4m
Equity
€10.9m
2024 · €10.6m+€278,400
Cash
€1.7m
2024 · €1.6m+€115,567
Balance sheet total
€68.1m
2024 · €65.5m+€2.5m
Largest movements
Assets
- Tangible fixed assets +€1.8m
up €1.8m (+21.9%), from €8.1m to €9.9m
of which Other tangible fixed assets: +€1.5m
- Receivables within one year +€1.7m
up €1.7m (+4.5%), from €38.4m to €40.2m
of which Trade receivables: +€6.2m
- Intangible fixed assets -€1.5m
down €1.5m (-17.4%), from €8.5m to €7.0m
Equity and liabilities
- Other debts -€21.4m
down €21.4m (-62.1%), from €34.4m to €13.1m
- Debts after one year +€21.0m
up €21.0m (+30325.1%), from €69,188 to €21.1m
of which Other amounts payable: +€21.0m
- Trade debts +€2.3m
up €2.3m (+24.5%), from €9.4m to €11.7m
- Tax, wage and social debts +€798,105
up €798,105 (+11.2%), from €7.2m to €8.0m
of which Remuneration and social security: +€461,139
Income statement
- Turnover +€10.7m
up €10.7m (+11.0%), from €97.1m to €107.7m
- Staff costs +€4.3m
up €4.3m (+12.7%), from €33.8m to €38.0m
- Goods and materials +€3.9m
up €3.9m (+13.5%), from €28.9m to €32.8m
of which Purchases: +€4.2m
- Services and other goods +€3.2m
up €3.2m (+16.7%), from €19.2m to €22.3m
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
€9.7m
Turnover
+€10.7m
Other operating income
+€416,677
Goods and materials
-€3.9m
Services and other goods
-€3.2m
Staff costs
-€4.3m
Depreciation
-€493,846
Write-downs
-€98,301
Other operating charges
+€19,893
Other operating items
-€479,149
Financial income
-€10,236
Financial charges
-€388,301
Taxes
+€335,042
Result 2025
€8.3m
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
-€7.8m
Investment
-€4.6m
Financing
+€12.5m
Cash 2024
€1.6m
From operations (derived)
-€7.8m
Net result for the year
+€8.3m
Depreciation
+€4.3m
Stocks and contracts
-€387,136
Receivables within one year
-€1.7m
Smaller working-capital items
+€14,137
Trade debts
+€2.3m
Tax, wage and social debts
+€798,105
Other debts
-€21.4m
Investment (derived)
-€4.6m
Investment in fixed assets (net)
-€4.6m
Financing
+€12.5m
Debts after one year
+€21.0m
Current portion of long-term debt
+€752
Short-term financial debts
-€483,702
Contributions, distributions and other
-€8.0m
Cash 2025
€1.7m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €65,549,449 | €68,083,131 | +€2.5m | +3.9% |
| Fixed assets | 21/28 | €16,682,585 | €16,967,931 | +€285,347 | +1.7% |
| Intangible fixed assets | 21 | €8,522,095 | €7,038,497 | -€1.5m | -17.4% |
| Tangible fixed assets | 22/27 | €8,106,977 | €9,884,822 | +€1.8m | +21.9% |
| Land and buildings | 22 | €676,224 | €582,286 | -€93,938 | -13.9% |
| Plant, machinery and equipment | 23 | €1,785,569 | €2,041,222 | +€255,652 | +14.3% |
| Furniture and vehicles | 24 | €356,707 | €463,091 | +€106,384 | +29.8% |
| Leasing and similar rights | 25 | €86,585 | €66,865 | -€19,720 | -22.8% |
| Other tangible fixed assets | 26 | €5,201,891 | €6,731,359 | +€1.5m | +29.4% |
| Financial fixed assets | 28 | €53,513 | €44,612 | -€8,902 | -16.6% |
| Other financial fixed assets | 284/8 | €53,513 | €44,612 | -€8,902 | -16.6% |
| Amounts receivable and cash guarantees | 285/8 | €53,513 | €44,612 | -€8,902 | -16.6% |
| Current assets | 29/58 | €48,866,865 | €51,115,200 | +€2.2m | +4.6% |
| Stocks and contracts in progress | 3 | €8,409,409 | €8,796,544 | +€387,136 | +4.6% |
| Stocks | 30/36 | €3,384,234 | €3,704,062 | +€319,828 | +9.5% |
| Raw materials and consumables | 30/31 | €1,123,800 | €1,241,640 | +€117,839 | +10.5% |
| Finished goods | 33 | €391,097 | €409,249 | +€18,152 | +4.6% |
| Goods purchased for resale | 34 | €1,869,336 | €2,053,173 | +€183,837 | +9.8% |
| Contracts in progress | 37 | €5,025,175 | €5,092,482 | +€67,307 | +1.3% |
| Amounts receivable within one year | 40/41 | €38,440,683 | €40,184,749 | +€1.7m | +4.5% |
| Trade receivables | 40 | €24,930,054 | €31,108,370 | +€6.2m | +24.8% |
| Other amounts receivable | 41 | €13,510,629 | €9,076,379 | -€4.4m | -32.8% |
| Cash at bank and in hand | 54/58 | €1,629,252 | €1,744,819 | +€115,567 | +7.1% |
| Deferred charges and accrued income | 490/1 | €387,521 | €389,087 | +€1,566 | +0.4% |
| Total equity and liabilities | 10/49 | €65,549,449 | €68,083,131 | +€2.5m | +3.9% |
| Equity | 10/15 | €10,628,724 | €10,907,124 | +€278,400 | +2.6% |
| Contributions | 10/11 | €2,701,800 | €2,714,200 | +€12,400 | +0.5% |
| Capital | 10 | €2,701,800 | €2,714,200 | +€12,400 | +0.5% |
| Issued capital | 100 | €2,714,200 | €2,714,200 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €0 | -€12,400 | -100.0% |
| Reserves | 13 | €7,926,924 | €8,192,924 | +€266,000 | +3.4% |
| Non-distributable reserves | 130/1 | €271,420 | €271,420 | = | 0.0% |
| Legal reserve | 130 | €271,420 | €271,420 | = | 0.0% |
| Tax-exempt reserves | 132 | €86,170 | €86,170 | = | 0.0% |
| Distributable reserves | 133 | €7,569,333 | €7,835,334 | +€266,000 | +3.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €7,502 | €5,834 | -€1,668 | -22.2% |
| Deferred taxes | 168 | €7,502 | €5,834 | -€1,668 | -22.2% |
| Amounts payable | 17/49 | €54,913,224 | €57,170,174 | +€2.3m | +4.1% |
| Amounts payable after more than one year | 17 | €69,188 | €21,050,547 | +€21.0m | +30325.1% |
| Financial debts | 170/4 | €69,188 | €50,547 | -€18,641 | -26.9% |
| Leasing and similar obligations | 172 | €69,188 | €50,547 | -€18,641 | -26.9% |
| Other amounts payable | 178/9 | - | €21,000,000 | +€21.0m | |
| Amounts payable within one year | 42/48 | €54,844,036 | €36,119,627 | -€18.7m | -34.1% |
| Current portion of amounts payable after more than one year | 42 | €17,889 | €18,641 | +€752 | +4.2% |
| Financial debts | 43 | €3,644,115 | €3,160,413 | -€483,702 | -13.3% |
| Credit institutions | 430/8 | €3,644,115 | €3,160,413 | -€483,702 | -13.3% |
| Trade debts | 44 | €9,407,233 | €11,716,647 | +€2.3m | +24.5% |
| Suppliers | 440/4 | €9,407,233 | €11,716,647 | +€2.3m | +24.5% |
| Advances received on contracts in progress | 46 | €194,517 | €211,888 | +€17,371 | +8.9% |
| Taxes, remuneration and social security | 45 | €7,152,150 | €7,950,255 | +€798,105 | +11.2% |
| Taxes | 450/3 | €2,346,429 | €2,683,395 | +€336,966 | +14.4% |
| Remuneration and social security | 454/9 | €4,805,720 | €5,266,860 | +€461,139 | +9.6% |
| Other amounts payable | 47/48 | €34,428,133 | €13,061,783 | -€21.4m | -62.1% |
| Operating income | 70/76A | €99,315,100 | €109,912,212 | +€10.6m | +10.7% |
| Turnover | 70 | €97,082,907 | €107,742,491 | +€10.7m | +11.0% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €564,608 | €85,459 | -€479,149 | -84.9% |
| Other operating income | 74 | €1,651,585 | €2,068,262 | +€416,677 | +25.2% |
| Non-recurring operating income | 76A | €16,000 | €16,000 | = | 0.0% |
| Operating charges | 60/66A | €85,921,199 | €97,875,978 | +€12.0m | +13.9% |
| Goods for resale, raw materials and consumables | 60 | €28,911,811 | €32,823,595 | +€3.9m | +13.5% |
| Purchases | 600/8 | €28,933,150 | €33,116,397 | +€4.2m | +14.5% |
| Change in stocks: decrease (increase) | 609 | -€21,339 | -€292,801 | -€271,462 | -1272.1% |
| Services and other goods | 61 | €19,152,117 | €22,343,609 | +€3.2m | +16.7% |
| Remuneration, social security and pensions | 62 | €33,756,964 | €38,036,213 | +€4.3m | +12.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,803,001 | €4,296,847 | +€493,846 | +13.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€100,999 | -€2,698 | +€98,301 | +97.3% |
| Other operating charges | 640/8 | €398,306 | €378,412 | -€19,893 | -5.0% |
| Operating profit (loss) | 9901 | €13,393,901 | €12,036,234 | -€1.4m | -10.1% |
| Financial income | 75/76B | €522,172 | €511,937 | -€10,236 | -2.0% |
| Recurring financial income | 75 | €522,172 | €511,937 | -€10,236 | -2.0% |
| Income from current assets | 751 | €3,835 | €134 | -€3,701 | -96.5% |
| Other financial income | 752/9 | €518,337 | €511,803 | -€6,535 | -1.3% |
| Financial charges | 65/66B | €1,222,734 | €1,611,035 | +€388,301 | +31.8% |
| Recurring financial charges | 65 | €1,222,734 | €1,611,035 | +€388,301 | +31.8% |
| Debt charges | 650 | €1,178,477 | €1,561,113 | +€382,636 | +32.5% |
| Other financial charges | 652/9 | €44,257 | €49,923 | +€5,665 | +12.8% |
| Profit (loss) for the period before taxes | 9903 | €12,693,339 | €10,937,135 | -€1.8m | -13.8% |
| Transfer from deferred taxes | 780 | €1,668 | €1,668 | = | 0.0% |
| Income taxes | 67/77 | €3,007,846 | €2,672,803 | -€335,042 | -11.1% |
| Taxes | 670/3 | €3,111,732 | €2,930,420 | -€181,312 | -5.8% |
| Tax adjustments and reversals of tax provisions | 77 | €103,886 | €257,617 | +€153,731 | +148.0% |
| Profit (loss) for the period | 9904 | €9,687,161 | €8,266,000 | -€1.4m | -14.7% |
| Profit (loss) for the period to be appropriated | 9905 | €9,687,161 | €8,266,000 | -€1.4m | -14.7% |
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 9 October 2026 via checked.be.