VIPE: 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.
VIPE
Largest movements
- Receivables within one year -€22,771
down €22,771 (-54.0%), from €42,166 to €19,396
of which Trade receivables: -€13,995
- Tangible fixed assets -€14,933
down €14,933 (-9.2%), from €162,462 to €147,529
of which Land and buildings: -€7,973
- Cash -€3,352
down €3,352 (-12.7%), from €26,468 to €23,116
mainly Trade debts (-€23,561) and Other debts (-€14,566)
- Stocks and contracts -€2,544
down €2,544 (-47.0%), from €5,416 to €2,873
- Trade debts -€23,561
down €23,561 (-86.1%), from €27,374 to €3,814
- Other debts -€14,566
down €14,566 (-31.0%), from €47,021 to €32,456
- Debts after one year -€9,758
down €9,758 (-9.9%), from €98,251 to €88,493
- Tax, wage and social debts +€2,640
up €2,640 (+29664.5%), from €9 to €2,649
- Gross operating margin -€2,854
down €2,854 (-11.8%), from €24,271 to €21,418
- Depreciation -€957
down €957 (-6.0%), from €15,890 to €14,933
- Other operating charges +€620
up €620 (+44.4%), from €1,397 to €2,017
- Financial income +€378
up €378 (+3232.5%), from €12 to €390
- Financial charges +€349
up €349 (+13.3%), from €2,620 to €2,968
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 | €237,415 | €193,054 | -€44,361 | -18.7% |
| Fixed assets | 21/28 | €162,462 | €147,529 | -€14,933 | -9.2% |
| Tangible fixed assets | 22/27 | €162,462 | €147,529 | -€14,933 | -9.2% |
| Land and buildings | 22 | €137,069 | €129,096 | -€7,973 | -5.8% |
| Plant, machinery and equipment | 23 | €9,262 | €7,347 | -€1,916 | -20.7% |
| Furniture and vehicles | 24 | €7,007 | €3,388 | -€3,619 | -51.6% |
| Other tangible fixed assets | 26 | €9,124 | €7,698 | -€1,426 | -15.6% |
| Current assets | 29/58 | €74,954 | €45,525 | -€29,428 | -39.3% |
| Stocks and contracts in progress | 3 | €5,416 | €2,873 | -€2,544 | -47.0% |
| Stocks | 30/36 | €5,416 | €2,873 | -€2,544 | -47.0% |
| Amounts receivable within one year | 40/41 | €42,166 | €19,396 | -€22,771 | -54.0% |
| Trade receivables | 40 | €30,545 | €16,550 | -€13,995 | -45.8% |
| Other amounts receivable | 41 | €11,621 | €2,845 | -€8,776 | -75.5% |
| Cash at bank and in hand | 54/58 | €26,468 | €23,116 | -€3,352 | -12.7% |
| Deferred charges and accrued income | 490/1 | €903 | €142 | -€761 | -84.3% |
| Total equity and liabilities | 10/49 | €237,415 | €193,054 | -€44,361 | -18.7% |
| Equity | 10/15 | €55,154 | €55,885 | +€731 | +1.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €36,554 | €37,285 | +€731 | +2.0% |
| Distributable reserves | 133 | €36,554 | €37,285 | +€731 | +2.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €182,262 | €137,169 | -€45,092 | -24.7% |
| Amounts payable after more than one year | 17 | €98,251 | €88,493 | -€9,758 | -9.9% |
| Financial debts | 170/4 | €98,251 | €88,493 | -€9,758 | -9.9% |
| Amounts payable within one year | 42/48 | €84,011 | €48,677 | -€35,334 | -42.1% |
| Current portion of amounts payable after more than one year | 42 | €9,606 | €9,758 | +€152 | +1.6% |
| Trade debts | 44 | €27,374 | €3,814 | -€23,561 | -86.1% |
| Suppliers | 440/4 | €27,374 | €3,814 | -€23,561 | -86.1% |
| Taxes, remuneration and social security | 45 | €9 | €2,649 | +€2,640 | +29664.5% |
| Taxes | 450/3 | €9 | €2,649 | +€2,640 | +29664.5% |
| Other amounts payable | 47/48 | €47,021 | €32,456 | -€14,566 | -31.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,890 | €14,933 | -€957 | -6.0% |
| Other operating charges | 640/8 | €1,397 | €2,017 | +€620 | +44.4% |
| Non-recurring operating charges | 66A | €1,923 | €0 | -€1,923 | -100.0% |
| Gross operating margin | 9900 | €24,271 | €21,418 | -€2,854 | -11.8% |
| Operating profit (loss) | 9901 | €5,061 | €4,468 | -€594 | -11.7% |
| Financial income | 75/76B | €12 | €390 | +€378 | +3232.5% |
| Recurring financial income | 75 | €12 | €390 | +€378 | +3232.5% |
| Financial charges | 65/66B | €2,620 | €2,968 | +€349 | +13.3% |
| Recurring financial charges | 65 | €2,620 | €2,968 | +€349 | +13.3% |
| Profit (loss) for the period before taxes | 9903 | €2,453 | €1,889 | -€564 | -23.0% |
| Income taxes | 67/77 | €1,224 | €1,158 | -€66 | -5.4% |
| Profit (loss) for the period | 9904 | €1,230 | €731 | -€499 | -40.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,230 | €731 | -€499 | -40.5% |
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 11 October 2026 via checked.be.