VIPO: 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.
VIPO
Largest movements
- Cash +€76,727
up €76,727 (+104.6%), from €73,373 to €150,100
mainly Depreciation (+€65,201) and Current investments (+€50,000)
- Current investments -€50,000
down €50,000 (-100.0%), from €50,000 to €0
- Tangible fixed assets -€21,893
down €21,893 (-5.1%), from €429,323 to €407,431
of which Land and buildings: -€21,379
- Reserves +€37,145
up €37,145 (+16.2%), from €229,972 to €267,117
of which Distributable reserves: +€37,145
- Debts after one year -€33,499
down €33,499 (-12.5%), from €268,740 to €235,241
- Tax, wage and social debts -€7,285
down €7,285 (-42.5%), from €17,125 to €9,839
- Trade debts +€7,106
up €7,106 (+175.5%), from €4,048 to €11,155
- Depreciation +€21,699
up €21,699 (+49.9%), from €43,502 to €65,201
- Taxes -€6,450
down €6,450 (-23.8%), from €27,096 to €20,645
- Gross operating margin -€1,789
down €1,789 (-1.2%), from €145,637 to €143,848
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 | €592,885 | €603,928 | +€11,043 | +1.9% |
| Fixed assets | 21/28 | €429,323 | €407,431 | -€21,893 | -5.1% |
| Tangible fixed assets | 22/27 | €429,323 | €407,431 | -€21,893 | -5.1% |
| Land and buildings | 22 | €288,352 | €266,973 | -€21,379 | -7.4% |
| Plant, machinery and equipment | 23 | €3,605 | €3,771 | +€165 | +4.6% |
| Furniture and vehicles | 24 | €137,366 | €136,687 | -€679 | -0.5% |
| Current assets | 29/58 | €163,562 | €196,497 | +€32,935 | +20.1% |
| Amounts receivable within one year | 40/41 | €35,744 | €41,762 | +€6,018 | +16.8% |
| Trade receivables | 40 | €34,472 | €37,315 | +€2,843 | +8.2% |
| Other amounts receivable | 41 | €1,273 | €4,448 | +€3,175 | +249.5% |
| Current investments | 50/53 | €50,000 | €0 | -€50,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €73,373 | €150,100 | +€76,727 | +104.6% |
| Deferred charges and accrued income | 490/1 | €4,444 | €4,634 | +€190 | +4.3% |
| Total equity and liabilities | 10/49 | €592,885 | €603,928 | +€11,043 | +1.9% |
| Equity | 10/15 | €249,972 | €287,117 | +€37,145 | +14.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €229,972 | €267,117 | +€37,145 | +16.2% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €227,972 | €265,117 | +€37,145 | +16.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €342,913 | €316,811 | -€26,102 | -7.6% |
| Amounts payable after more than one year | 17 | €268,740 | €235,241 | -€33,499 | -12.5% |
| Financial debts | 170/4 | €268,740 | €235,241 | -€33,499 | -12.5% |
| Amounts payable within one year | 42/48 | €74,173 | €81,570 | +€7,397 | +10.0% |
| Current portion of amounts payable after more than one year | 42 | €49,460 | €55,433 | +€5,972 | +12.1% |
| Financial debts | 43 | €3,082 | €5,136 | +€2,054 | +66.7% |
| Credit institutions | 430/8 | €3,082 | €5,136 | +€2,054 | +66.7% |
| Trade debts | 44 | €4,048 | €11,155 | +€7,106 | +175.5% |
| Suppliers | 440/4 | €4,048 | €11,155 | +€7,106 | +175.5% |
| Taxes, remuneration and social security | 45 | €17,125 | €9,839 | -€7,285 | -42.5% |
| Taxes | 450/3 | €17,125 | €9,839 | -€7,285 | -42.5% |
| Other amounts payable | 47/48 | €457 | €7 | -€451 | -98.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,502 | €65,201 | +€21,699 | +49.9% |
| Other operating charges | 640/8 | €4,466 | €4,648 | +€182 | +4.1% |
| Gross operating margin | 9900 | €145,637 | €143,848 | -€1,789 | -1.2% |
| Operating profit (loss) | 9901 | €97,669 | €73,999 | -€23,670 | -24.2% |
| Financial income | 75/76B | €1 | €1,227 | +€1,226 | +133289.1% |
| Recurring financial income | 75 | €1 | €1,227 | +€1,226 | +133289.1% |
| Financial charges | 65/66B | €6,894 | €7,179 | +€285 | +4.1% |
| Recurring financial charges | 65 | €6,894 | €7,179 | +€285 | +4.1% |
| Profit (loss) for the period before taxes | 9903 | €90,776 | €68,047 | -€22,729 | -25.0% |
| Income taxes | 67/77 | €27,096 | €20,645 | -€6,450 | -23.8% |
| Profit (loss) for the period | 9904 | €63,681 | €47,402 | -€16,279 | -25.6% |
| Profit (loss) for the period to be appropriated | 9905 | €63,681 | €47,402 | -€16,279 | -25.6% |
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 10 October 2026 via checked.be.