VIGOR: 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.
VIGOR
Largest movements
- Tangible fixed assets -€6,326
down €6,326 (-23.8%), from €26,569 to €20,243
of which Plant, machinery and equipment: -€3,584
- Stocks and contracts -€2,509
down €2,509 (-48.8%), from €5,139 to €2,630
- Cash +€1,977
up €1,977 (+59.1%), from €3,347 to €5,324
mainly Depreciation (+€9,091) and Stocks and contracts (+€2,509)
- Receivables within one year +€639
up €639 (+27.9%), from €2,288 to €2,927
of which Trade receivables: +€1,686
- Other debts -€6,052
down €6,052 (-11.2%), from €53,826 to €47,774
- Gross operating margin +€1,957
up €1,957 (+22.5%), from €8,710 to €10,668
- Depreciation +€200
up €200 (+2.2%), from €8,891 to €9,091
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.
Derived cash bridge
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 | €39,487 | €33,233 | -€6,254 | -15.8% |
| Fixed assets | 21/28 | €26,569 | €20,243 | -€6,326 | -23.8% |
| Tangible fixed assets | 22/27 | €26,569 | €20,243 | -€6,326 | -23.8% |
| Land and buildings | 22 | €2,480 | €36 | -€2,444 | -98.6% |
| Plant, machinery and equipment | 23 | €23,323 | €19,739 | -€3,584 | -15.4% |
| Assets under construction and advance payments | 27 | €767 | €468 | -€299 | -39.0% |
| Current assets | 29/58 | €12,918 | €12,990 | +€72 | +0.6% |
| Stocks and contracts in progress | 3 | €5,139 | €2,630 | -€2,509 | -48.8% |
| Stocks | 30/36 | €5,139 | €2,630 | -€2,509 | -48.8% |
| Amounts receivable within one year | 40/41 | €2,288 | €2,927 | +€639 | +27.9% |
| Trade receivables | 40 | €1,168 | €2,854 | +€1,686 | +144% |
| Other amounts receivable | 41 | €1,120 | €73 | -€1,047 | -93.4% |
| Cash at bank and in hand | 54/58 | €3,347 | €5,324 | +€1,977 | +59.1% |
| Deferred charges and accrued income | 490/1 | €2,144 | €2,109 | -€35 | -1.6% |
| Total equity and liabilities | 10/49 | €39,487 | €33,233 | -€6,254 | -15.8% |
| Equity | 10/15 | -€16,175 | -€16,421 | -€246 | -1.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€36,175 | -€36,421 | -€246 | -0.7% |
| Amounts payable | 17/49 | €55,662 | €49,654 | -€6,008 | -10.8% |
| Amounts payable within one year | 42/48 | €55,662 | €49,654 | -€6,008 | -10.8% |
| Trade debts | 44 | €1,438 | €1,470 | +€32 | +2.2% |
| Suppliers | 440/4 | €1,438 | €1,470 | +€32 | +2.2% |
| Taxes, remuneration and social security | 45 | €398 | €410 | +€11 | +2.8% |
| Taxes | 450/3 | €398 | €410 | +€11 | +2.8% |
| Other amounts payable | 47/48 | €53,826 | €47,774 | -€6,052 | -11.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,891 | €9,091 | +€200 | +2.2% |
| Other operating charges | 640/8 | €1,300 | €1,341 | +€41 | +3.1% |
| Gross operating margin | 9900 | €8,710 | €10,668 | +€1,957 | +22.5% |
| Operating profit (loss) | 9901 | -€1,481 | €236 | +€1,717 | |
| Financial income | 75/76B | €18 | - | -€18 | |
| Recurring financial income | 75 | €18 | - | -€18 | |
| Financial charges | 65/66B | €72 | €72 | = | 0.0% |
| Recurring financial charges | 65 | €72 | €72 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | -€1,535 | €164 | +€1,699 | |
| Income taxes | 67/77 | €398 | €410 | +€11 | +2.8% |
| Profit (loss) for the period | 9904 | -€1,934 | -€246 | +€1,688 | +87.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,934 | -€246 | +€1,688 | +87.3% |
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 13 October 2026 via checked.be.