VIGOR: what changed
VIGOR
Largest movements
- Financial fixed assets -€1.2m
no longer reported in 2026 (was €1.2m)
- Cash +€393,521
up €393,521 (+102%), from €383,923 to €777,443
mainly Investment in fixed assets (net) (+€1.2m) and Net result for the year (+€39,250)
- Tangible fixed assets -€82,920
down €82,920 (-97.8%), from €84,771 to €1,851
of which Furniture and vehicles: -€83,557
- Other debts -€833,283
no longer reported in 2026 (was €833,283)
- Reserves -€23,858
down €23,858 (-3.1%), from €770,698 to €746,841
of which Distributable reserves: -€23,858
- Financial income -€49,265
down €49,265 (-100.0%), from €49,274 to €9
- Depreciation -€21,128
down €21,128 (-95.9%), from €22,033 to €904
- Gross operating margin -€6,112
down €6,112 (-4.8%), from €126,215 to €120,103
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,633,787 | €790,707 | -€843,081 | -51.6% |
| Fixed assets | 21/28 | €1,234,771 | €1,851 | -€1.2m | -99.9% |
| Tangible fixed assets | 22/27 | €84,771 | €1,851 | -€82,920 | -97.8% |
| Plant, machinery and equipment | 23 | €1,120 | €1,758 | +€637 | +56.9% |
| Furniture and vehicles | 24 | €83,651 | €93 | -€83,557 | -99.9% |
| Financial fixed assets | 28 | €1,150,000 | - | -€1.2m | |
| Current assets | 29/58 | €399,016 | €788,856 | +€389,839 | +97.7% |
| Amounts receivable within one year | 40/41 | €12,100 | €10,483 | -€1,617 | -13.4% |
| Trade receivables | 40 | €12,100 | - | -€12,100 | |
| Other amounts receivable | 41 | - | €10,483 | +€10,483 | |
| Cash at bank and in hand | 54/58 | €383,923 | €777,443 | +€393,521 | +102% |
| Deferred charges and accrued income | 490/1 | €2,994 | €929 | -€2,065 | -69.0% |
| Total equity and liabilities | 10/49 | €1,633,787 | €790,707 | -€843,081 | -51.6% |
| Equity | 10/15 | €783,098 | €759,241 | -€23,858 | -3.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €770,698 | €746,841 | -€23,858 | -3.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €768,838 | €744,981 | -€23,858 | -3.1% |
| Amounts payable | 17/49 | €850,689 | €31,466 | -€819,223 | -96.3% |
| Amounts payable within one year | 42/48 | €850,689 | €31,466 | -€819,223 | -96.3% |
| Trade debts | 44 | €171 | €3,347 | +€3,175 | +1,853% |
| Suppliers | 440/4 | €171 | €3,347 | +€3,175 | +1,853% |
| Taxes, remuneration and social security | 45 | €17,235 | €28,119 | +€10,884 | +63.1% |
| Taxes | 450/3 | €17,235 | €28,119 | +€10,884 | +63.1% |
| Other amounts payable | 47/48 | €833,283 | - | -€833,283 | |
| Non-recurring operating income | 76A | - | €15,000 | +€15,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,033 | €904 | -€21,128 | -95.9% |
| Other operating charges | 640/8 | €1,638 | €1,118 | -€520 | -31.7% |
| Non-recurring operating charges | 66A | €36,339 | €52,519 | +€16,180 | +44.5% |
| Gross operating margin | 9900 | €126,215 | €120,103 | -€6,112 | -4.8% |
| Operating profit (loss) | 9901 | €66,206 | €65,561 | -€645 | -1.0% |
| Financial income | 75/76B | €49,274 | €9 | -€49,265 | -100.0% |
| Recurring financial income | 75 | €49,274 | €9 | -€49,265 | -100.0% |
| Financial charges | 65/66B | €178 | €414 | +€235 | +132% |
| Recurring financial charges | 65 | €178 | €414 | +€235 | +132% |
| Profit (loss) for the period before taxes | 9903 | €115,301 | €65,157 | -€50,145 | -43.5% |
| Income taxes | 67/77 | €25,270 | €25,906 | +€637 | +2.5% |
| Profit (loss) for the period | 9904 | €90,032 | €39,250 | -€50,781 | -56.4% |
| Profit (loss) for the period to be appropriated | 9905 | €90,032 | €39,250 | -€50,781 | -56.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.