VIHEMI: what changed
What changed
VIHEMI
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€137,602
2024 · €114,626+€22,976
Equity
€783,144
2024 · €645,542+€137,602
Cash
€21,735
2024 · €103,235-€81,500
Balance sheet total
€1.3m
2024 · €1.3m+€77,865
Largest movements
Assets
- Receivables within one year +€167,136
up €167,136 (+253%), from €66,035 to €233,171
of which Other amounts receivable: +€165,807
- Cash -€81,500
down €81,500 (-78.9%), from €103,235 to €21,735
mainly Receivables within one year (-€167,136) and Debts after one year (-€76,892)
Equity and liabilities
- Reserves +€137,602
up €137,602 (+22.2%), from €620,542 to €758,144
- Debts after one year -€76,892
down €76,892 (-27.2%), from €282,532 to €205,640
- Tax, wage and social debts +€22,968
up €22,968 (+52.8%), from €43,508 to €66,475
Income statement
- Gross operating margin +€30,808
up €30,808 (+15.9%), from €193,162 to €223,970
- Taxes +€10,424
up €10,424 (+19.1%), from €54,514 to €64,938
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€114,626
Gross operating margin
+€30,808
Other operating charges
-€40
Other operating items
-€107
Financial income
+€584
Financial charges
+€2,155
Taxes
-€10,424
Result 2025
€137,602
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€657
Investment
€0
Financing
-€80,843
Cash 2024
€103,235
From operations (derived)
-€657
Net result for the year
+€137,602
Depreciation
+€7,773
Receivables within one year
-€167,136
Deferred charges and accrued income
-€2
Trade debts
+€3,795
Tax, wage and social debts
+€22,968
Other debts
-€4,401
Accrued charges and deferred income
-€1,256
Financing
-€80,843
Debts after one year
-€76,892
Current portion of long-term debt
-€3,952
Cash 2025
€21,735
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,268,183 | €1,346,048 | +€77,865 | +6.1% |
| Fixed assets | 21/28 | €1,098,538 | €1,090,765 | -€7,773 | -0.7% |
| Tangible fixed assets | 22/27 | €10,291 | €2,518 | -€7,773 | -75.5% |
| Furniture and vehicles | 24 | €10,291 | €2,518 | -€7,773 | -75.5% |
| Financial fixed assets | 28 | €1,088,246 | €1,088,246 | = | 0.0% |
| Current assets | 29/58 | €169,646 | €255,284 | +€85,638 | +50.5% |
| Amounts receivable within one year | 40/41 | €66,035 | €233,171 | +€167,136 | +253% |
| Trade receivables | 40 | €4,807 | €6,136 | +€1,329 | +27.7% |
| Other amounts receivable | 41 | €61,228 | €227,034 | +€165,807 | +271% |
| Cash at bank and in hand | 54/58 | €103,235 | €21,735 | -€81,500 | -78.9% |
| Deferred charges and accrued income | 490/1 | €376 | €378 | +€2 | +0.5% |
| Total equity and liabilities | 10/49 | €1,268,183 | €1,346,048 | +€77,865 | +6.1% |
| Equity | 10/15 | €645,542 | €783,144 | +€137,602 | +21.3% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €620,542 | €758,144 | +€137,602 | +22.2% |
| Distributable reserves | 133 | €620,542 | €758,144 | +€137,602 | +22.2% |
| Amounts payable | 17/49 | €622,641 | €562,904 | -€59,737 | -9.6% |
| Amounts payable after more than one year | 17 | €282,532 | €205,640 | -€76,892 | -27.2% |
| Financial debts | 170/4 | €282,532 | €205,640 | -€76,892 | -27.2% |
| Amounts payable within one year | 42/48 | €324,924 | €343,334 | +€18,410 | +5.7% |
| Current portion of amounts payable after more than one year | 42 | €80,843 | €76,892 | -€3,952 | -4.9% |
| Trade debts | 44 | €4,829 | €8,624 | +€3,795 | +78.6% |
| Suppliers | 440/4 | €4,829 | €8,624 | +€3,795 | +78.6% |
| Taxes, remuneration and social security | 45 | €43,508 | €66,475 | +€22,968 | +52.8% |
| Taxes | 450/3 | €43,508 | €66,475 | +€22,968 | +52.8% |
| Other amounts payable | 47/48 | €195,744 | €191,343 | -€4,401 | -2.2% |
| Accrued charges and deferred income | 492/3 | €15,185 | €13,930 | -€1,256 | -8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,773 | €7,773 | = | 0.0% |
| Other operating charges | 640/8 | €1,246 | €1,286 | +€40 | +3.2% |
| Non-recurring operating charges | 66A | - | €107 | +€107 | |
| Gross operating margin | 9900 | €193,162 | €223,970 | +€30,808 | +15.9% |
| Operating profit (loss) | 9901 | €184,143 | €214,804 | +€30,661 | +16.7% |
| Financial income | 75/76B | €4,174 | €4,758 | +€584 | +14.0% |
| Recurring financial income | 75 | €4,174 | €4,758 | +€584 | +14.0% |
| Financial charges | 65/66B | €19,176 | €17,021 | -€2,155 | -11.2% |
| Recurring financial charges | 65 | €19,176 | €17,021 | -€2,155 | -11.2% |
| Profit (loss) for the period before taxes | 9903 | €169,141 | €202,540 | +€33,400 | +19.7% |
| Income taxes | 67/77 | €54,514 | €64,938 | +€10,424 | +19.1% |
| Profit (loss) for the period | 9904 | €114,626 | €137,602 | +€22,976 | +20.0% |
| Profit (loss) for the period to be appropriated | 9905 | €114,626 | €137,602 | +€22,976 | +20.0% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.