VITAFIN: what changed
Two fiscal 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.
VITAFIN
Largest movements
- Current investments +€630,060
up €630,060 (+81.2%), from €776,228 to €1.4m
- Tangible fixed assets -€306,517
down €306,517 (-43.8%), from €699,044 to €392,526
of which Land and buildings: -€286,071
- Cash -€154,905
down €154,905 (-77.9%), from €198,862 to €43,958
mainly Current investments (-€630,060) and Receivables within one year (-€76,587)
- Receivables within one year +€76,587
up €76,587 (+8.7%), from €877,747 to €954,334
- Reserves +€257,917
up €257,917 (+11.6%), from €2.2m to €2.5m
of which Distributable reserves: +€328,570
- Provisions -€41,483
no longer reported in 2025 (was €41,483)
- Tax, wage and social debts +€32,427
up €32,427 (+7541.2%), from €430 to €32,857
- Gross operating margin +€341,504
up €341,504 (+3805.4%), from €8,974 to €350,478
- Taxes +€151,292
up €151,292 (+7949.1%), from €1,903 to €153,195
- Depreciation -€28,051
down €28,051 (-54.1%), from €51,828 to €23,777
- Financial income +€7,670
up €7,670 (+17.8%), from €43,195 to €50,865
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 | €2,910,161 | €3,154,022 | +€243,861 | +8.4% |
| Fixed assets | 21/28 | €1,055,960 | €749,442 | -€306,517 | -29.0% |
| Intangible fixed assets | 21 | €306,698 | €306,698 | = | 0.0% |
| Tangible fixed assets | 22/27 | €699,044 | €392,526 | -€306,517 | -43.8% |
| Land and buildings | 22 | €645,834 | €359,763 | -€286,071 | -44.3% |
| Plant, machinery and equipment | 23 | €53,210 | €32,764 | -€20,446 | -38.4% |
| Financial fixed assets | 28 | €50,218 | €50,218 | = | 0.0% |
| Current assets | 29/58 | €1,854,201 | €2,404,579 | +€550,378 | +29.7% |
| Amounts receivable within one year | 40/41 | €877,747 | €954,334 | +€76,587 | +8.7% |
| Other amounts receivable | 41 | €877,747 | €954,334 | +€76,587 | +8.7% |
| Current investments | 50/53 | €776,228 | €1,406,288 | +€630,060 | +81.2% |
| Cash at bank and in hand | 54/58 | €198,862 | €43,958 | -€154,905 | -77.9% |
| Deferred charges and accrued income | 490/1 | €1,363 | - | -€1,363 | |
| Total equity and liabilities | 10/49 | €2,910,161 | €3,154,022 | +€243,861 | +8.4% |
| Equity | 10/15 | €2,863,248 | €3,121,165 | +€257,917 | +9.0% |
| Contributions | 10/11 | €647,002 | €647,002 | = | 0.0% |
| Capital | 10 | €647,002 | €647,002 | = | 0.0% |
| Issued capital | 100 | €647,002 | €647,002 | = | 0.0% |
| Reserves | 13 | €2,216,206 | €2,474,122 | +€257,917 | +11.6% |
| Non-distributable reserves | 130/1 | €64,700 | €64,700 | = | 0.0% |
| Legal reserve | 130 | €64,700 | €64,700 | = | 0.0% |
| Tax-exempt reserves | 132 | €70,654 | - | -€70,654 | |
| Distributable reserves | 133 | €2,080,852 | €2,409,422 | +€328,570 | +15.8% |
| Profit (loss) carried forward | 14 | €41 | €41 | = | 0.0% |
| Provisions and deferred taxes | 16 | €41,483 | - | -€41,483 | |
| Deferred taxes | 168 | €41,483 | - | -€41,483 | |
| Amounts payable | 17/49 | €5,430 | €32,857 | +€27,427 | +505.1% |
| Amounts payable within one year | 42/48 | €5,430 | €32,857 | +€27,427 | +505.1% |
| Trade debts | 44 | €5,000 | - | -€5,000 | |
| Suppliers | 440/4 | €5,000 | - | -€5,000 | |
| Taxes, remuneration and social security | 45 | €430 | €32,857 | +€32,427 | +7541.2% |
| Taxes | 450/3 | €430 | €32,857 | +€32,427 | +7541.2% |
| Non-recurring operating income | 76A | - | €373,259 | +€373,259 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,828 | €23,777 | -€28,051 | -54.1% |
| Other operating charges | 640/8 | €4,389 | €6,928 | +€2,539 | +57.8% |
| Gross operating margin | 9900 | €8,974 | €350,478 | +€341,504 | +3805.4% |
| Operating profit (loss) | 9901 | -€47,242 | €319,774 | +€367,016 | |
| Financial income | 75/76B | €43,195 | €50,865 | +€7,670 | +17.8% |
| Recurring financial income | 75 | €43,195 | €50,865 | +€7,670 | +17.8% |
| Financial charges | 65/66B | €394 | €1,009 | +€615 | +155.9% |
| Recurring financial charges | 65 | €394 | €1,009 | +€615 | +155.9% |
| Profit (loss) for the period before taxes | 9903 | -€4,441 | €369,629 | +€374,071 | |
| Transfer from deferred taxes | 780 | €2,671 | €41,483 | +€38,811 | +1452.9% |
| Income taxes | 67/77 | €1,903 | €153,195 | +€151,292 | +7949.1% |
| Profit (loss) for the period | 9904 | -€3,673 | €257,917 | +€261,590 | |
| Transfer from tax-exempt reserves | 789 | €8,014 | €70,654 | +€62,640 | +781.6% |
| Profit (loss) for the period to be appropriated | 9905 | €4,341 | €328,570 | +€324,229 | +7469.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.