VIPC: 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.
VIPC
Largest movements
- Tangible fixed assets +€19,701
up €19,701 (+193.1%), from €10,202 to €29,903
of which Plant, machinery and equipment: +€10,387
- Cash +€17,550
up €17,550 (+195.7%), from €8,969 to €26,519
mainly Net result for the year (+€68,030) and Depreciation (+€6,801)
- Stocks and contracts -€5,602
down €5,602 (-6.0%), from €93,747 to €88,146
- Receivables within one year -€3,476
down €3,476 (-3.9%), from €88,781 to €85,305
of which Trade receivables: -€10,318
- Intangible fixed assets -€2,625
down €2,625 (-92.3%), from €2,844 to €219
- Profit (loss) carried forward +€67,936
up €67,936, from -€67,936 to €0
- Trade debts -€35,763
down €35,763 (-40.8%), from €87,738 to €51,975
- Current portion of long-term debt -€5,209
down €5,209 (-75.7%), from €6,883 to €1,673
- Other debts -€4,055
down €4,055 (-100.0%), from €4,055 to €0
- Debts after one year +€3,702
new in 2025: €3,702
- Gross operating margin +€66,521
up €66,521 (+177.1%), from €37,571 to €104,092
- Depreciation -€10,333
down €10,333 (-60.3%), from €17,134 to €6,801
- Staff costs +€9,205
up €9,205 (+106.4%), from €8,655 to €17,860
- Financial income -€2,145
down €2,145 (-76.9%), from €2,791 to €646
of which Non-recurring financial income: -€1,618
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 | €205,773 | €231,920 | +€26,147 | +12.7% |
| Fixed assets | 21/28 | €13,046 | €30,122 | +€17,076 | +130.9% |
| Intangible fixed assets | 21 | €2,844 | €219 | -€2,625 | -92.3% |
| Tangible fixed assets | 22/27 | €10,202 | €29,903 | +€19,701 | +193.1% |
| Plant, machinery and equipment | 23 | €483 | €10,871 | +€10,387 | +2148.6% |
| Furniture and vehicles | 24 | €7,747 | €12,164 | +€4,417 | +57.0% |
| Leasing and similar rights | 25 | - | €5,312 | +€5,312 | |
| Other tangible fixed assets | 26 | €1,972 | €1,557 | -€415 | -21.0% |
| Current assets | 29/58 | €192,726 | €201,798 | +€9,071 | +4.7% |
| Stocks and contracts in progress | 3 | €93,747 | €88,146 | -€5,602 | -6.0% |
| Stocks | 30/36 | €93,747 | €88,146 | -€5,602 | -6.0% |
| Amounts receivable within one year | 40/41 | €88,781 | €85,305 | -€3,476 | -3.9% |
| Trade receivables | 40 | €88,547 | €78,230 | -€10,318 | -11.7% |
| Other amounts receivable | 41 | €233 | €7,075 | +€6,842 | +2932.7% |
| Cash at bank and in hand | 54/58 | €8,969 | €26,519 | +€17,550 | +195.7% |
| Deferred charges and accrued income | 490/1 | €1,229 | €1,828 | +€599 | +48.7% |
| Total equity and liabilities | 10/49 | €205,773 | €231,920 | +€26,147 | +12.7% |
| Equity | 10/15 | -€53,676 | €14,354 | +€68,030 | |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,954 | +€94 | +5.0% |
| Distributable reserves | 133 | €1,860 | €1,954 | +€94 | +5.0% |
| Profit (loss) carried forward | 14 | -€67,936 | €0 | +€67,936 | |
| Amounts payable | 17/49 | €259,448 | €217,566 | -€41,882 | -16.1% |
| Amounts payable after more than one year | 17 | - | €3,702 | +€3,702 | |
| Financial debts | 170/4 | - | €3,702 | +€3,702 | |
| Amounts payable within one year | 42/48 | €259,448 | €213,811 | -€45,638 | -17.6% |
| Current portion of amounts payable after more than one year | 42 | €6,883 | €1,673 | -€5,209 | -75.7% |
| Financial debts | 43 | €150,000 | €150,000 | = | 0.0% |
| Credit institutions | 430/8 | €150,000 | €150,000 | = | 0.0% |
| Trade debts | 44 | €87,738 | €51,975 | -€35,763 | -40.8% |
| Suppliers | 440/4 | €87,738 | €51,975 | -€35,763 | -40.8% |
| Advances received on contracts in progress | 46 | - | €110 | +€110 | |
| Taxes, remuneration and social security | 45 | €10,773 | €10,052 | -€721 | -6.7% |
| Taxes | 450/3 | €9,818 | €8,565 | -€1,254 | -12.8% |
| Remuneration and social security | 454/9 | €955 | €1,488 | +€533 | +55.8% |
| Other amounts payable | 47/48 | €4,055 | €0 | -€4,055 | -100.0% |
| Accrued charges and deferred income | 492/3 | - | €53 | +€53 | |
| Non-recurring operating income | 76A | €22 | €0 | -€22 | -100.0% |
| Remuneration, social security and pensions | 62 | €8,655 | €17,860 | +€9,205 | +106.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,134 | €6,801 | -€10,333 | -60.3% |
| Other operating charges | 640/8 | €2,074 | €1,220 | -€855 | -41.2% |
| Gross operating margin | 9900 | €37,571 | €104,092 | +€66,521 | +177.1% |
| Operating profit (loss) | 9901 | €9,709 | €78,212 | +€68,503 | +705.6% |
| Financial income | 75/76B | €2,791 | €646 | -€2,145 | -76.9% |
| Recurring financial income | 75 | €1,172 | €646 | -€526 | -44.9% |
| Non-recurring financial income | 76B | €1,618 | €0 | -€1,618 | -100.0% |
| Financial charges | 65/66B | €10,691 | €10,687 | -€5 | 0.0% |
| Recurring financial charges | 65 | €10,691 | €10,687 | -€5 | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €1,808 | €68,171 | +€66,364 | +3671.3% |
| Income taxes | 67/77 | €1,144 | €142 | -€1,002 | -87.6% |
| Profit (loss) for the period | 9904 | €664 | €68,030 | +€67,366 | +10147.3% |
| Profit (loss) for the period to be appropriated | 9905 | €664 | €68,030 | +€67,366 | +10147.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.