VIPenzo: 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.
VIPenzo
Largest movements
- Tangible fixed assets +€42,201
up €42,201 (+680%), from €6,206 to €48,407
- Debts after one year +€35,711
new in 2025: €35,711
- Other debts +€3,090
up €3,090 (+12.2%), from €25,420 to €28,510
- Profit (loss) carried forward +€2,681
up €2,681 (+11.1%), from -€24,240 to -€21,559
- Gross operating margin +€14,102
up €14,102 (+282%), from €4,995 to €19,096
- Depreciation +€11,017
up €11,017 (+785%), from €1,403 to €12,420
- Financial charges +€1,306
up €1,306 (+686%), from €190 to €1,497
- Taxes -€222
down €222 (-11.9%), from €1,868 to €1,646
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 | €10,506 | €52,488 | +€41,983 | +400% |
| Fixed assets | 21/28 | €6,206 | €48,407 | +€42,201 | +680% |
| Tangible fixed assets | 22/27 | €6,206 | €48,407 | +€42,201 | +680% |
| Furniture and vehicles | 24 | €6,206 | €48,407 | +€42,201 | +680% |
| Current assets | 29/58 | €4,300 | €4,081 | -€219 | -5.1% |
| Amounts receivable within one year | 40/41 | €2,255 | €1,834 | -€420 | -18.6% |
| Trade receivables | 40 | €2,255 | €1,834 | -€420 | -18.6% |
| Cash at bank and in hand | 54/58 | €2,045 | €2,247 | +€201 | +9.9% |
| Total equity and liabilities | 10/49 | €10,506 | €52,488 | +€41,983 | +400% |
| Equity | 10/15 | -€17,940 | -€15,259 | +€2,681 | +14.9% |
| Contributions | 10/11 | €6,300 | €6,300 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€24,240 | -€21,559 | +€2,681 | +11.1% |
| Amounts payable | 17/49 | €28,446 | €67,747 | +€39,302 | +138% |
| Amounts payable after more than one year | 17 | - | €35,711 | +€35,711 | |
| Financial debts | 170/4 | - | €35,711 | +€35,711 | |
| Amounts payable within one year | 42/48 | €28,446 | €32,037 | +€3,591 | +12.6% |
| Trade debts | 44 | - | €168 | +€168 | |
| Suppliers | 440/4 | - | €168 | +€168 | |
| Taxes, remuneration and social security | 45 | €3,026 | €3,359 | +€333 | +11.0% |
| Taxes | 450/3 | €3,026 | €3,359 | +€333 | +11.0% |
| Other amounts payable | 47/48 | €25,420 | €28,510 | +€3,090 | +12.2% |
| Non-recurring operating income | 76A | - | €9,079 | +€9,079 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,403 | €12,420 | +€11,017 | +785% |
| Other operating charges | 640/8 | €911 | €853 | -€58 | -6.4% |
| Gross operating margin | 9900 | €4,995 | €19,096 | +€14,102 | +282% |
| Operating profit (loss) | 9901 | €2,680 | €5,823 | +€3,143 | +117% |
| Financial income | 75/76B | €11 | - | -€11 | |
| Recurring financial income | 75 | €11 | - | -€11 | |
| Financial charges | 65/66B | €190 | €1,497 | +€1,306 | +686% |
| Recurring financial charges | 65 | €190 | €1,497 | +€1,306 | +686% |
| Profit (loss) for the period before taxes | 9903 | €2,501 | €4,327 | +€1,826 | +73.0% |
| Income taxes | 67/77 | €1,868 | €1,646 | -€222 | -11.9% |
| Profit (loss) for the period | 9904 | €633 | €2,681 | +€2,048 | +324% |
| Profit (loss) for the period to be appropriated | 9905 | €633 | €2,681 | +€2,048 | +324% |
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 14 October 2026 via checked.be.