VITAGEST: what changed
What changed
VITAGEST
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€222,494
2024 · €288,524-€66,030
Equity
€427,876
2024 · €425,382+€2,494
Cash
€212,390
2024 · €287,286-€74,896
Balance sheet total
€712,619
2024 · €748,760-€36,141
Largest movements
Assets
- Cash -€74,896
down €74,896 (-26.1%), from €287,286 to €212,390
mainly Contributions, distributions and other (-€220,000) and Receivables within one year (-€46,620)
- Receivables within one year +€46,620
up €46,620 (+20.1%), from €231,536 to €278,156
of which Other amounts receivable: +€44,427
- Tangible fixed assets -€8,832
down €8,832 (-27.5%), from €32,070 to €23,239
of which Furniture and vehicles: -€7,677
Equity and liabilities
- Tax, wage and social debts -€26,790
down €26,790 (-37.3%), from €71,771 to €44,981
- Other debts -€13,850
down €13,850 (-5.9%), from €234,928 to €221,078
Income statement
- Gross operating margin -€88,421
down €88,421 (-37.2%), from €237,523 to €149,102
- Taxes -€22,573
down €22,573 (-41.5%), from €54,352 to €31,779
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
€288,524
Gross operating margin
-€88,421
Depreciation
-€248
Provisions
-€200
Other operating charges
-€59
Financial income
+€1
Financial charges
+€324
Taxes
+€22,573
Result 2025
€222,494
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
+€147,052
Investment
-€1,915
Financing
-€220,034
Cash 2024
€287,286
From operations (derived)
+€147,052
Net result for the year
+€222,494
Depreciation
+€10,746
Receivables within one year
-€46,620
Deferred charges and accrued income
-€967
Provisions
+€200
Trade debts
+€1,839
Tax, wage and social debts
-€26,790
Other debts
-€13,850
Investment (derived)
-€1,915
Investment in fixed assets (net)
-€1,915
Financing
-€220,034
Current portion of long-term debt
-€34
Contributions, distributions and other
-€220,000
Cash 2025
€212,390
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €748,760 | €712,619 | -€36,141 | -4.8% |
| Fixed assets | 21/28 | €227,070 | €218,239 | -€8,832 | -3.9% |
| Tangible fixed assets | 22/27 | €32,070 | €23,239 | -€8,832 | -27.5% |
| Plant, machinery and equipment | 23 | €2,588 | €1,434 | -€1,155 | -44.6% |
| Furniture and vehicles | 24 | €29,482 | €21,805 | -€7,677 | -26.0% |
| Financial fixed assets | 28 | €195,000 | €195,000 | = | 0.0% |
| Current assets | 29/58 | €521,690 | €494,380 | -€27,309 | -5.2% |
| Amounts receivable within one year | 40/41 | €231,536 | €278,156 | +€46,620 | +20.1% |
| Trade receivables | 40 | €225,888 | €228,080 | +€2,192 | +1.0% |
| Other amounts receivable | 41 | €5,648 | €50,075 | +€44,427 | +787% |
| Cash at bank and in hand | 54/58 | €287,286 | €212,390 | -€74,896 | -26.1% |
| Deferred charges and accrued income | 490/1 | €2,868 | €3,835 | +€967 | +33.7% |
| Total equity and liabilities | 10/49 | €748,760 | €712,619 | -€36,141 | -4.8% |
| Equity | 10/15 | €425,382 | €427,876 | +€2,494 | +0.6% |
| 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 | €10,000 | €10,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €315,382 | €317,876 | +€2,494 | +0.8% |
| Provisions and deferred taxes | 16 | €2,000 | €2,200 | +€200 | +10.0% |
| Provisions for liabilities and charges | 160/5 | €2,000 | €2,200 | +€200 | +10.0% |
| Other liabilities and charges | 164/5 | €2,000 | €2,200 | +€200 | +10.0% |
| Amounts payable | 17/49 | €321,378 | €282,543 | -€38,835 | -12.1% |
| Amounts payable within one year | 42/48 | €321,378 | €282,543 | -€38,835 | -12.1% |
| Current portion of amounts payable after more than one year | 42 | €6,824 | €6,791 | -€34 | -0.5% |
| Trade debts | 44 | €7,855 | €9,694 | +€1,839 | +23.4% |
| Suppliers | 440/4 | €7,855 | €9,694 | +€1,839 | +23.4% |
| Taxes, remuneration and social security | 45 | €71,771 | €44,981 | -€26,790 | -37.3% |
| Taxes | 450/3 | €71,771 | €44,981 | -€26,790 | -37.3% |
| Other amounts payable | 47/48 | €234,928 | €221,078 | -€13,850 | -5.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,498 | €10,746 | +€248 | +2.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €200 | +€200 | |
| Other operating charges | 640/8 | €2,375 | €2,434 | +€59 | +2.5% |
| Gross operating margin | 9900 | €237,523 | €149,102 | -€88,421 | -37.2% |
| Operating profit (loss) | 9901 | €224,650 | €135,722 | -€88,928 | -39.6% |
| Financial income | 75/76B | €120,000 | €120,001 | +€1 | 0.0% |
| Recurring financial income | 75 | €120,000 | €120,001 | +€1 | 0.0% |
| Financial charges | 65/66B | €1,774 | €1,450 | -€324 | -18.3% |
| Recurring financial charges | 65 | €1,774 | €1,450 | -€324 | -18.3% |
| Profit (loss) for the period before taxes | 9903 | €342,876 | €254,273 | -€88,603 | -25.8% |
| Income taxes | 67/77 | €54,352 | €31,779 | -€22,573 | -41.5% |
| Profit (loss) for the period | 9904 | €288,524 | €222,494 | -€66,030 | -22.9% |
| Profit (loss) for the period to be appropriated | 9905 | €288,524 | €222,494 | -€66,030 | -22.9% |
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 2 November 2026 via checked.be.