VIPOWA: what changed
What changed
VIPOWA
NACE 01.462, Crop and animal production, hunting and related service activities
filed annual accounts (NBB)
Net result for the year
€121,599
2024 · €319,339-€197,740
Equity
€473,813
2024 · €352,215+€121,599
Cash
€218,285
2024 · €1.1m-€922,721
Balance sheet total
€4.1m
2024 · €4.9m-€788,342
Largest movements
Assets
- Cash -€922,721
down €922,721 (-80.9%), from €1.1m to €218,285
mainly Other debts (-€795,393) and Short-term financial debts (-€500,000)
- Receivables within one year +€148,847
up €148,847 (+5.6%), from €2.7m to €2.8m
of which Trade receivables: +€169,970
Equity and liabilities
- Other debts -€795,393
down €795,393 (-56.8%), from €1.4m to €604,607
- Short-term financial debts -€500,000
down €500,000 (-33.3%), from €1.5m to €1.0m
- Trade debts +€408,809
up €408,809 (+27.1%), from €1.5m to €1.9m
- Reserves +€121,800
up €121,800 (+48.3%), from €252,000 to €373,800
of which Distributable reserves: +€121,800
Income statement
- Gross operating margin -€299,755
down €299,755 (-48.3%), from €620,641 to €320,887
- Taxes -€52,286
down €52,286 (-56.2%), from €93,081 to €40,795
- Financial charges -€45,642
down €45,642 (-43.1%), from €105,823 to €60,181
- Other operating charges -€7,473
down €7,473 (-86.8%), from €8,607 to €1,135
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€319,339
Gross operating margin
-€299,755
Staff costs
-€3,998
Depreciation
+€639
Other operating charges
+€7,473
Financial income
-€27
Financial charges
+€45,642
Taxes
+€52,286
Result 2025
€121,599
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€422,721
Investment
€0
Financing
-€500,000
Cash 2024
€1.1m
From operations (derived)
-€422,721
Net result for the year
+€121,599
Depreciation
+€2,086
Stocks and contracts
+€19,141
Receivables within one year
-€148,847
Deferred charges and accrued income
-€6,759
Trade debts
+€408,809
Tax, wage and social debts
-€12,290
Other debts
-€795,393
Accrued charges and deferred income
-€11,066
Financing
-€500,000
Short-term financial debts
-€500,000
Cash 2025
€218,285
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,859,268 | €4,070,926 | -€788,342 | -16.2% |
| Fixed assets | 21/28 | €4,177 | €2,091 | -€2,086 | -49.9% |
| Tangible fixed assets | 22/27 | €4,177 | €2,091 | -€2,086 | -49.9% |
| Furniture and vehicles | 24 | €4,177 | €2,091 | -€2,086 | -49.9% |
| Current assets | 29/58 | €4,855,091 | €4,068,835 | -€786,256 | -16.2% |
| Stocks and contracts in progress | 3 | €1,052,870 | €1,033,729 | -€19,141 | -1.8% |
| Stocks | 30/36 | €1,052,870 | €1,033,729 | -€19,141 | -1.8% |
| Amounts receivable within one year | 40/41 | €2,653,970 | €2,802,817 | +€148,847 | +5.6% |
| Trade receivables | 40 | €122,329 | €292,299 | +€169,970 | +139% |
| Other amounts receivable | 41 | €2,531,641 | €2,510,518 | -€21,123 | -0.8% |
| Cash at bank and in hand | 54/58 | €1,141,006 | €218,285 | -€922,721 | -80.9% |
| Deferred charges and accrued income | 490/1 | €7,245 | €14,004 | +€6,759 | +93.3% |
| Total equity and liabilities | 10/49 | €4,859,268 | €4,070,926 | -€788,342 | -16.2% |
| Equity | 10/15 | €352,215 | €473,813 | +€121,599 | +34.5% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €252,000 | €373,800 | +€121,800 | +48.3% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €242,000 | €363,800 | +€121,800 | +50.3% |
| Profit (loss) carried forward | 14 | €215 | €13 | -€201 | -93.8% |
| Amounts payable | 17/49 | €4,507,053 | €3,597,113 | -€909,940 | -20.2% |
| Amounts payable within one year | 42/48 | €4,486,963 | €3,588,089 | -€898,874 | -20.0% |
| Financial debts | 43 | €1,500,000 | €1,000,000 | -€500,000 | -33.3% |
| Credit institutions | 430/8 | €1,500,000 | €1,000,000 | -€500,000 | -33.3% |
| Trade debts | 44 | €1,508,255 | €1,917,064 | +€408,809 | +27.1% |
| Suppliers | 440/4 | €1,508,255 | €1,917,064 | +€408,809 | +27.1% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €78,708 | €66,417 | -€12,290 | -15.6% |
| Taxes | 450/3 | €58,269 | €45,406 | -€12,863 | -22.1% |
| Remuneration and social security | 454/9 | €20,438 | €21,011 | +€573 | +2.8% |
| Other amounts payable | 47/48 | €1,400,000 | €604,607 | -€795,393 | -56.8% |
| Accrued charges and deferred income | 492/3 | €20,091 | €9,024 | -€11,066 | -55.1% |
| Remuneration, social security and pensions | 62 | €91,094 | €95,091 | +€3,998 | +4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,725 | €2,086 | -€639 | -23.5% |
| Other operating charges | 640/8 | €8,607 | €1,135 | -€7,473 | -86.8% |
| Gross operating margin | 9900 | €620,641 | €320,887 | -€299,755 | -48.3% |
| Operating profit (loss) | 9901 | €518,216 | €222,575 | -€295,640 | -57.0% |
| Financial income | 75/76B | €28 | €0 | -€27 | -99.9% |
| Recurring financial income | 75 | €28 | €0 | -€27 | -99.9% |
| Financial charges | 65/66B | €105,823 | €60,181 | -€45,642 | -43.1% |
| Recurring financial charges | 65 | €105,823 | €60,181 | -€45,642 | -43.1% |
| Profit (loss) for the period before taxes | 9903 | €412,420 | €162,394 | -€250,026 | -60.6% |
| Income taxes | 67/77 | €93,081 | €40,795 | -€52,286 | -56.2% |
| Profit (loss) for the period | 9904 | €319,339 | €121,599 | -€197,740 | -61.9% |
| Profit (loss) for the period to be appropriated | 9905 | €319,339 | €121,599 | -€197,740 | -61.9% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.