VIPAPIL: 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.
VIPAPIL
Largest movements
- Tangible fixed assets -€9,502
down €9,502 (-5.4%), from €175,828 to €166,327
- Debts after one year -€9,396
down €9,396 (-6.5%), from €144,794 to €135,397
- Reserves +€8,395
up €8,395 (+18.8%), from €44,707 to €53,102
- Tax, wage and social debts -€3,068
down €3,068 (-50.1%), from €6,124 to €3,056
- Current portion of long-term debt -€2,990
down €2,990 (-24.1%), from €12,386 to €9,396
- Other operating charges -€337
down €337 (-9.1%), from €3,695 to €3,358
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €213,496 | €205,951 | -€7,545 | -3.5% |
| Fixed assets | 21/28 | €175,828 | €166,327 | -€9,502 | -5.4% |
| Tangible fixed assets | 22/27 | €175,828 | €166,327 | -€9,502 | -5.4% |
| Land and buildings | 22 | €175,828 | €166,327 | -€9,502 | -5.4% |
| Current assets | 29/58 | €37,668 | €39,625 | +€1,957 | +5.2% |
| Amounts receivable within one year | 40/41 | €1,048 | €1,048 | = | 0.0% |
| Trade receivables | 40 | €1,048 | €1,048 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €36,620 | €37,837 | +€1,217 | +3.3% |
| Deferred charges and accrued income | 490/1 | - | €740 | +€740 | |
| Total equity and liabilities | 10/49 | €213,496 | €205,951 | -€7,545 | -3.5% |
| Equity | 10/15 | €49,707 | €58,102 | +€8,395 | +16.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €44,707 | €53,102 | +€8,395 | +18.8% |
| Distributable reserves | 133 | €44,707 | €53,102 | +€8,395 | +18.8% |
| Amounts payable | 17/49 | €163,790 | €147,850 | -€15,940 | -9.7% |
| Amounts payable after more than one year | 17 | €144,794 | €135,397 | -€9,396 | -6.5% |
| Financial debts | 170/4 | €144,794 | €135,397 | -€9,396 | -6.5% |
| Amounts payable within one year | 42/48 | €18,996 | €12,452 | -€6,544 | -34.4% |
| Current portion of amounts payable after more than one year | 42 | €12,386 | €9,396 | -€2,990 | -24.1% |
| Trade debts | 44 | €485 | - | -€485 | |
| Suppliers | 440/4 | €485 | - | -€485 | |
| Taxes, remuneration and social security | 45 | €6,124 | €3,056 | -€3,068 | -50.1% |
| Taxes | 450/3 | €6,124 | €3,056 | -€3,068 | -50.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,502 | €9,502 | = | 0.0% |
| Other operating charges | 640/8 | €3,695 | €3,358 | -€337 | -9.1% |
| Gross operating margin | 9900 | €26,075 | €25,830 | -€245 | -0.9% |
| Operating profit (loss) | 9901 | €12,878 | €12,971 | +€93 | +0.7% |
| Financial charges | 65/66B | €1,601 | €1,520 | -€81 | -5.1% |
| Recurring financial charges | 65 | €1,601 | €1,520 | -€81 | -5.1% |
| Profit (loss) for the period before taxes | 9903 | €11,277 | €11,451 | +€174 | +1.5% |
| Income taxes | 67/77 | €2,802 | €3,056 | +€255 | +9.1% |
| Profit (loss) for the period | 9904 | €8,475 | €8,395 | -€80 | -0.9% |
| Profit (loss) for the period to be appropriated | 9905 | €8,475 | €8,395 | -€80 | -0.9% |
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 3 October 2026 via checked.be.