VIMINALIS: what changed
Two fiscal 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
VIMINALIS
NACE 68.122, Development of non-residential building projects
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€3.7m
2024 · -€1.7m-€2.0m
Equity
-€3.2m
2024 · €443,765-€3.7m
Cash
€983
2024 · €77,086-€76,103
Balance sheet total
€26.8m
2024 · €28.1m-€1.3m
Largest movements
Assets
- Stocks and contracts -€1.0m
down €1.0m (-59.7%), from €1.7m to €684,026
Equity and liabilities
- Profit (loss) carried forward -€3.7m
down €3.7m (-1832.4%), from -€199,462 to -€3.9m
- Debts after one year +€1.7m
up €1.7m (+38.1%), from €4.4m to €6.0m
- Trade debts +€692,579
up €692,579 (+326.5%), from €212,104 to €904,683
Income statement
- Gross operating margin -€2.3m
down €2.3m, from €1.2m to -€1.1m
- Other operating charges -€277,468
down €277,468 (-66.0%), from €420,120 to €142,652
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
-€1.7m
Gross operating margin
-€2.3m
Depreciation
-€0
Other operating charges
+€277,468
Financial charges
+€1,729
Result 2025
-€3.7m
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
-€1.4m
Investment
-€361,647
Financing
+€1.7m
Cash 2024
€77,086
From operations (derived)
-€1.4m
Net result for the year
-€3.7m
Depreciation
+€626,625
Stocks and contracts
+€1.0m
Receivables within one year
-€101,404
Trade debts
+€692,579
Tax, wage and social debts
+€2,924
Accrued charges and deferred income
+€69,985
Investment (derived)
-€361,647
Investment in fixed assets (net)
-€361,647
Financing
+€1.7m
Debts after one year
+€1.7m
Contributions, distributions and other
-€0
Cash 2025
€983
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €28,076,771 | €26,825,516 | -€1.3m | -4.5% |
| Fixed assets | 21/28 | €25,932,024 | €25,667,046 | -€264,978 | -1.0% |
| Tangible fixed assets | 22/27 | €25,932,024 | €25,667,046 | -€264,978 | -1.0% |
| Land and buildings | 22 | €25,932,024 | €25,638,012 | -€294,012 | -1.1% |
| Assets under construction and advance payments | 27 | - | €29,034 | +€29,034 | |
| Current assets | 29/58 | €2,144,747 | €1,158,470 | -€986,277 | -46.0% |
| Stocks and contracts in progress | 3 | €1,695,604 | €684,026 | -€1.0m | -59.7% |
| Stocks | 30/36 | €1,695,604 | €684,026 | -€1.0m | -59.7% |
| Amounts receivable within one year | 40/41 | €372,057 | €473,461 | +€101,404 | +27.3% |
| Trade receivables | 40 | €7,557 | €169,801 | +€162,244 | +2146.9% |
| Other amounts receivable | 41 | €364,500 | €303,660 | -€60,840 | -16.7% |
| Cash at bank and in hand | 54/58 | €77,086 | €983 | -€76,103 | -98.7% |
| Total equity and liabilities | 10/49 | €28,076,771 | €26,825,516 | -€1.3m | -4.5% |
| Equity | 10/15 | €443,765 | -€3,234,522 | -€3.7m | |
| Contributions | 10/11 | €25,844 | €25,844 | +€0 | 0.0% |
| Reserves | 13 | €617,383 | €594,034 | -€23,349 | -3.8% |
| Non-distributable reserves | 130/1 | €2,584 | €2,584 | +€0 | 0.0% |
| Reserves not available under the articles | 1311 | €2,584 | €2,584 | +€0 | 0.0% |
| Tax-exempt reserves | 132 | €596,198 | €572,849 | -€23,349 | -3.9% |
| Distributable reserves | 133 | €18,601 | €18,601 | -€0 | 0.0% |
| Profit (loss) carried forward | 14 | -€199,462 | -€3,854,400 | -€3.7m | -1832.4% |
| Amounts payable | 17/49 | €27,633,006 | €30,060,038 | +€2.4m | +8.8% |
| Amounts payable after more than one year | 17 | €4,358,800 | €6,020,344 | +€1.7m | +38.1% |
| Other amounts payable | 178/9 | €4,358,800 | €6,020,344 | +€1.7m | +38.1% |
| Amounts payable within one year | 42/48 | €23,223,483 | €23,918,986 | +€695,503 | +3.0% |
| Financial debts | 43 | €22,950,000 | €22,950,000 | = | 0.0% |
| Credit institutions | 430/8 | €22,950,000 | €22,950,000 | = | 0.0% |
| Trade debts | 44 | €212,104 | €904,683 | +€692,579 | +326.5% |
| Suppliers | 440/4 | €212,104 | €904,683 | +€692,579 | +326.5% |
| Taxes, remuneration and social security | 45 | €61,379 | €64,303 | +€2,924 | +4.8% |
| Taxes | 450/3 | €61,379 | €64,303 | +€2,924 | +4.8% |
| Accrued charges and deferred income | 492/3 | €50,723 | €120,708 | +€69,985 | +138.0% |
| Non-recurring operating income | 76A | €3,515 | - | -€3,515 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €626,625 | €626,625 | +€0 | 0.0% |
| Other operating charges | 640/8 | €420,120 | €142,652 | -€277,468 | -66.0% |
| Gross operating margin | 9900 | €1,152,774 | -€1,148,716 | -€2.3m | |
| Operating profit (loss) | 9901 | €106,029 | -€1,917,993 | -€2.0m | |
| Financial charges | 65/66B | €1,762,023 | €1,760,294 | -€1,729 | -0.1% |
| Recurring financial charges | 65 | €1,762,023 | €1,760,294 | -€1,729 | -0.1% |
| Profit (loss) for the period before taxes | 9903 | -€1,655,994 | -€3,678,286 | -€2.0m | -122.1% |
| Profit (loss) for the period | 9904 | -€1,655,994 | -€3,678,286 | -€2.0m | -122.1% |
| Transfer from tax-exempt reserves | 789 | €401,176 | €23,349 | -€377,827 | -94.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,254,818 | -€3,654,937 | -€2.4m | -191.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.