VITAL: 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.
VITAL
Largest movements
- Cash -€60,807
down €60,807 (-38.8%), from €156,908 to €96,100
mainly Debts after one year (-€92,007) and Current investments (-€60,000)
- Current investments +€60,000
up €60,000, from €0 to €60,000
- Tangible fixed assets -€39,404
down €39,404 (-10.0%), from €392,880 to €353,477
of which Land and buildings: -€38,779
- Receivables within one year -€7,748
down €7,748 (-44.9%), from €17,260 to €9,511
of which Trade receivables: -€7,748
- Debts after one year -€92,007
down €92,007 (-51.0%), from €180,365 to €88,358
- Reserves +€36,522
up €36,522 (+17.8%), from €205,360 to €241,882
- Current portion of long-term debt +€18,635
up €18,635 (+25.0%), from €74,444 to €93,080
- Other debts -€8,418
down €8,418 (-21.8%), from €38,559 to €30,141
- Gross operating margin +€19,828
up €19,828 (+7.0%), from €284,046 to €303,874
- Staff costs +€14,042
up €14,042 (+10.0%), from €140,369 to €154,410
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 | €583,612 | €537,618 | -€45,994 | -7.9% |
| Fixed assets | 21/28 | €393,204 | €353,800 | -€39,404 | -10.0% |
| Tangible fixed assets | 22/27 | €392,880 | €353,477 | -€39,404 | -10.0% |
| Land and buildings | 22 | €361,860 | €323,081 | -€38,779 | -10.7% |
| Plant, machinery and equipment | 23 | €31,020 | €26,551 | -€4,468 | -14.4% |
| Furniture and vehicles | 24 | €0 | €3,844 | +€3,844 | |
| Financial fixed assets | 28 | €324 | €324 | = | 0.0% |
| Current assets | 29/58 | €190,408 | €183,818 | -€6,590 | -3.5% |
| Stocks and contracts in progress | 3 | €12,604 | €16,972 | +€4,367 | +34.6% |
| Stocks | 30/36 | €12,604 | €16,972 | +€4,367 | +34.6% |
| Amounts receivable within one year | 40/41 | €17,260 | €9,511 | -€7,748 | -44.9% |
| Trade receivables | 40 | €17,260 | €9,511 | -€7,748 | -44.9% |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €0 | €60,000 | +€60,000 | |
| Cash at bank and in hand | 54/58 | €156,908 | €96,100 | -€60,807 | -38.8% |
| Deferred charges and accrued income | 490/1 | €3,636 | €1,234 | -€2,402 | -66.1% |
| Total equity and liabilities | 10/49 | €583,612 | €537,618 | -€45,994 | -7.9% |
| Equity | 10/15 | €229,360 | €265,882 | +€36,522 | +15.9% |
| Contributions | 10/11 | €24,000 | €24,000 | = | 0.0% |
| Reserves | 13 | €205,360 | €241,882 | +€36,522 | +17.8% |
| Distributable reserves | 133 | €205,360 | €241,882 | +€36,522 | +17.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €354,252 | €271,736 | -€82,516 | -23.3% |
| Amounts payable after more than one year | 17 | €180,365 | €88,358 | -€92,007 | -51.0% |
| Financial debts | 170/4 | €180,365 | €88,358 | -€92,007 | -51.0% |
| Amounts payable within one year | 42/48 | €173,117 | €181,636 | +€8,519 | +4.9% |
| Current portion of amounts payable after more than one year | 42 | €74,444 | €93,080 | +€18,635 | +25.0% |
| Trade debts | 44 | €12,443 | €11,480 | -€963 | -7.7% |
| Suppliers | 440/4 | €12,443 | €11,480 | -€963 | -7.7% |
| Advances received on contracts in progress | 46 | €850 | €0 | -€850 | -100.0% |
| Taxes, remuneration and social security | 45 | €46,820 | €46,935 | +€115 | +0.2% |
| Taxes | 450/3 | €25,619 | €31,393 | +€5,774 | +22.5% |
| Remuneration and social security | 454/9 | €21,201 | €15,542 | -€5,659 | -26.7% |
| Other amounts payable | 47/48 | €38,559 | €30,141 | -€8,418 | -21.8% |
| Accrued charges and deferred income | 492/3 | €770 | €1,742 | +€972 | +126.2% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €140,369 | €154,410 | +€14,042 | +10.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,975 | €54,618 | +€1,643 | +3.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €6,156 | €6,130 | -€27 | -0.4% |
| Non-recurring operating charges | 66A | - | €206 | +€206 | |
| Gross operating margin | 9900 | €284,046 | €303,874 | +€19,828 | +7.0% |
| Operating profit (loss) | 9901 | €84,547 | €88,510 | +€3,964 | +4.7% |
| Financial income | 75/76B | €1,774 | €1,436 | -€339 | -19.1% |
| Recurring financial income | 75 | €1,774 | €1,436 | -€339 | -19.1% |
| Financial charges | 65/66B | €13,003 | €12,609 | -€394 | -3.0% |
| Recurring financial charges | 65 | €13,003 | €12,609 | -€394 | -3.0% |
| Profit (loss) for the period before taxes | 9903 | €73,318 | €77,337 | +€4,019 | +5.5% |
| Income taxes | 67/77 | €20,512 | €21,347 | +€835 | +4.1% |
| Profit (loss) for the period | 9904 | €52,807 | €55,990 | +€3,184 | +6.0% |
| Profit (loss) for the period to be appropriated | 9905 | €52,807 | €55,990 | +€3,184 | +6.0% |
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 5 October 2026 via checked.be.