VIO: 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.
VIO
Largest movements
- Tangible fixed assets -€165,768
down €165,768 (-30.2%), from €548,690 to €382,921
of which Leasing and similar rights: -€109,691
- Deferred charges and accrued income -€20,554
down €20,554 (-20.0%), from €102,737 to €82,183
- Debts after one year -€126,536
down €126,536 (-45.0%), from €281,255 to €154,719
- Reserves -€64,228
down €64,228 (-29.3%), from €219,444 to €155,216
of which Distributable reserves: -€64,228
- Current portion of long-term debt +€12,267
up €12,267 (+12.3%), from €99,791 to €112,058
- Tax, wage and social debts -€11,536
down €11,536 (-13.1%), from €87,777 to €76,241
of which Remuneration and social security: -€15,523
- Gross operating margin -€147,376
down €147,376 (-20.6%), from €714,152 to €566,776
- Staff costs -€74,405
down €74,405 (-16.2%), from €459,289 to €384,884
- Depreciation -€20,535
down €20,535 (-11.1%), from €184,824 to €164,289
- Write-downs +€17,762
new in 2025: €17,762
- Financial charges -€9,940
down €9,940 (-31.0%), from €32,047 to €22,107
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 | €975,201 | €779,674 | -€195,527 | -20.0% |
| Fixed assets | 21/28 | €554,312 | €386,843 | -€167,468 | -30.2% |
| Intangible fixed assets | 21 | €3,327 | €1,897 | -€1,430 | -43.0% |
| Tangible fixed assets | 22/27 | €548,690 | €382,921 | -€165,768 | -30.2% |
| Plant, machinery and equipment | 23 | €16,377 | €5,200 | -€11,177 | -68.2% |
| Furniture and vehicles | 24 | €146,902 | €102,001 | -€44,900 | -30.6% |
| Leasing and similar rights | 25 | €385,411 | €275,720 | -€109,691 | -28.5% |
| Financial fixed assets | 28 | €2,295 | €2,025 | -€270 | -11.8% |
| Current assets | 29/58 | €420,889 | €392,830 | -€28,059 | -6.7% |
| Stocks and contracts in progress | 3 | €10,626 | €8,817 | -€1,809 | -17.0% |
| Stocks | 30/36 | €10,626 | €8,817 | -€1,809 | -17.0% |
| Amounts receivable within one year | 40/41 | €176,317 | €178,653 | +€2,336 | +1.3% |
| Trade receivables | 40 | €175,108 | €167,529 | -€7,580 | -4.3% |
| Other amounts receivable | 41 | €1,209 | €11,125 | +€9,916 | +820% |
| Cash at bank and in hand | 54/58 | €131,209 | €123,178 | -€8,032 | -6.1% |
| Deferred charges and accrued income | 490/1 | €102,737 | €82,183 | -€20,554 | -20.0% |
| Total equity and liabilities | 10/49 | €975,201 | €779,674 | -€195,527 | -20.0% |
| Equity | 10/15 | €251,821 | €187,593 | -€64,228 | -25.5% |
| Contributions | 10/11 | €32,377 | €32,377 | = | 0.0% |
| Reserves | 13 | €219,444 | €155,216 | -€64,228 | -29.3% |
| Non-distributable reserves | 130/1 | €3,238 | €3,238 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,238 | €3,238 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,230 | €6,230 | = | 0.0% |
| Distributable reserves | 133 | €209,976 | €145,748 | -€64,228 | -30.6% |
| Amounts payable | 17/49 | €723,380 | €592,081 | -€131,300 | -18.2% |
| Amounts payable after more than one year | 17 | €281,255 | €154,719 | -€126,536 | -45.0% |
| Financial debts | 170/4 | €281,255 | €154,719 | -€126,536 | -45.0% |
| Amounts payable within one year | 42/48 | €442,125 | €437,361 | -€4,764 | -1.1% |
| Current portion of amounts payable after more than one year | 42 | €99,791 | €112,058 | +€12,267 | +12.3% |
| Financial debts | 43 | €175,715 | €178,149 | +€2,434 | +1.4% |
| Credit institutions | 430/8 | €175,715 | €178,149 | +€2,434 | +1.4% |
| Trade debts | 44 | €78,843 | €70,913 | -€7,930 | -10.1% |
| Suppliers | 440/4 | €78,843 | €70,913 | -€7,930 | -10.1% |
| Taxes, remuneration and social security | 45 | €87,777 | €76,241 | -€11,536 | -13.1% |
| Taxes | 450/3 | €29,775 | €33,762 | +€3,987 | +13.4% |
| Remuneration and social security | 454/9 | €58,002 | €42,479 | -€15,523 | -26.8% |
| Non-recurring operating income | 76A | €96,593 | €72,877 | -€23,716 | -24.6% |
| Remuneration, social security and pensions | 62 | €459,289 | €384,884 | -€74,405 | -16.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €184,824 | €164,289 | -€20,535 | -11.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €17,762 | +€17,762 | |
| Other operating charges | 640/8 | €39,251 | €42,013 | +€2,762 | +7.0% |
| Gross operating margin | 9900 | €714,152 | €566,776 | -€147,376 | -20.6% |
| Operating profit (loss) | 9901 | €30,787 | -€42,172 | -€72,959 | |
| Financial income | 75/76B | €1,710 | €226 | -€1,483 | -86.8% |
| Recurring financial income | 75 | €1,710 | €226 | -€1,483 | -86.8% |
| Financial charges | 65/66B | €32,047 | €22,107 | -€9,940 | -31.0% |
| Recurring financial charges | 65 | €32,047 | €22,107 | -€9,940 | -31.0% |
| Profit (loss) for the period before taxes | 9903 | €450 | -€64,053 | -€64,502 | |
| Income taxes | 67/77 | €175 | €175 | -€0 | -0.2% |
| Profit (loss) for the period | 9904 | €275 | -€64,228 | -€64,502 | |
| Profit (loss) for the period to be appropriated | 9905 | €275 | -€64,228 | -€64,502 |
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 18 October 2026 via checked.be.