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
- Cash -€50,530
down €50,530 (-42.1%), from €120,049 to €69,519
mainly Other debts (-€51,439) and Contributions, distributions and other (-€38,158)
- Financial fixed assets -€43,371
down €43,371 (-6.0%), from €722,846 to €679,475
- Receivables within one year -€24,610
down €24,610 (-20.8%), from €118,427 to €93,818
of which Trade receivables: -€18,588
- Other debts -€51,439
down €51,439 (-10.4%), from €492,344 to €440,904
- Reserves -€38,158
down €38,158 (-19.5%), from €196,165 to €158,006
- Trade debts -€34,138
down €34,138 (-17.7%), from €193,401 to €159,264
- Profit (loss) carried forward +€22,232
up €22,232 (+2655.1%), from €837 to €23,069
- Current portion of long-term debt -€14,705
no longer reported in 2025 (was €14,705)
- Financial income -€35,211
down €35,211 (-96.8%), from €36,378 to €1,167
of which Non-recurring financial income: -€31,278
- Gross operating margin +€24,153
up €24,153 (+16.5%), from €146,576 to €170,729
- Financial charges -€10,622
down €10,622 (-16.0%), from €66,459 to €55,836
of which Financial charges: -€7,854
- Staff costs +€5,913
up €5,913 (+10.0%), from €59,266 to €65,179
- Other operating charges -€4,271
down €4,271 (-59.3%), from €7,197 to €2,926
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 | €974,405 | €853,847 | -€120,558 | -12.4% |
| Fixed assets | 21/28 | €723,730 | €679,475 | -€44,255 | -6.1% |
| Tangible fixed assets | 22/27 | €884 | - | -€884 | |
| Other tangible fixed assets | 26 | €884 | - | -€884 | |
| Financial fixed assets | 28 | €722,846 | €679,475 | -€43,371 | -6.0% |
| Current assets | 29/58 | €250,675 | €174,372 | -€76,303 | -30.4% |
| Amounts receivable within one year | 40/41 | €118,427 | €93,818 | -€24,610 | -20.8% |
| Trade receivables | 40 | €112,406 | €93,818 | -€18,588 | -16.5% |
| Other amounts receivable | 41 | €6,022 | - | -€6,022 | |
| Cash at bank and in hand | 54/58 | €120,049 | €69,519 | -€50,530 | -42.1% |
| Deferred charges and accrued income | 490/1 | €12,198 | €11,036 | -€1,163 | -9.5% |
| Total equity and liabilities | 10/49 | €974,405 | €853,847 | -€120,558 | -12.4% |
| Equity | 10/15 | €209,402 | €193,475 | -€15,927 | -7.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €196,165 | €158,006 | -€38,158 | -19.5% |
| Distributable reserves | 133 | €196,165 | €158,006 | -€38,158 | -19.5% |
| Profit (loss) carried forward | 14 | €837 | €23,069 | +€22,232 | +2655.1% |
| Amounts payable | 17/49 | €765,003 | €660,372 | -€104,631 | -13.7% |
| Amounts payable within one year | 42/48 | €747,048 | €649,053 | -€97,994 | -13.1% |
| Current portion of amounts payable after more than one year | 42 | €14,705 | - | -€14,705 | |
| Trade debts | 44 | €193,401 | €159,264 | -€34,138 | -17.7% |
| Suppliers | 440/4 | €193,401 | €159,264 | -€34,138 | -17.7% |
| Taxes, remuneration and social security | 45 | €46,597 | €48,885 | +€2,288 | +4.9% |
| Taxes | 450/3 | €34,670 | €37,940 | +€3,270 | +9.4% |
| Remuneration and social security | 454/9 | €11,927 | €10,945 | -€982 | -8.2% |
| Other amounts payable | 47/48 | €492,344 | €440,904 | -€51,439 | -10.4% |
| Accrued charges and deferred income | 492/3 | €17,956 | €11,319 | -€6,637 | -37.0% |
| Remuneration, social security and pensions | 62 | €59,266 | €65,179 | +€5,913 | +10.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,911 | €884 | -€1,027 | -53.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€452 | - | +€452 | |
| Other operating charges | 640/8 | €7,197 | €2,926 | -€4,271 | -59.3% |
| Gross operating margin | 9900 | €146,576 | €170,729 | +€24,153 | +16.5% |
| Operating profit (loss) | 9901 | €78,654 | €101,740 | +€23,086 | +29.4% |
| Financial income | 75/76B | €36,378 | €1,167 | -€35,211 | -96.8% |
| Recurring financial income | 75 | €5,100 | €1,167 | -€3,933 | -77.1% |
| Non-recurring financial income | 76B | €31,278 | - | -€31,278 | |
| Financial charges | 65/66B | €66,459 | €55,836 | -€10,622 | -16.0% |
| Recurring financial charges | 65 | €20,319 | €12,466 | -€7,854 | -38.7% |
| Non-recurring financial charges | 66B | €46,139 | €43,371 | -€2,768 | -6.0% |
| Profit (loss) for the period before taxes | 9903 | €48,574 | €47,070 | -€1,503 | -3.1% |
| Income taxes | 67/77 | €26,966 | €24,839 | -€2,127 | -7.9% |
| Profit (loss) for the period | 9904 | €21,608 | €22,232 | +€623 | +2.9% |
| Profit (loss) for the period to be appropriated | 9905 | €21,608 | €22,232 | +€623 | +2.9% |
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.