VITAL PROJECTS: 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.
VITAL PROJECTS
Largest movements
- Tangible fixed assets -€41,532
down €41,532 (-12.4%), from €336,058 to €294,527
- Current investments +€27,777
up €27,777 (+66.0%), from €42,088 to €69,865
- Cash -€23,490
down €23,490 (-80.7%), from €29,122 to €5,632
mainly Debts after one year (-€34,948) and Current investments (-€27,777)
- Receivables within one year -€4,339
down €4,339 (-28.2%), from €15,369 to €11,030
of which Other amounts receivable: -€5,214
- Debts after one year -€34,948
down €34,948 (-12.0%), from €290,883 to €255,935
of which Financial debts: -€41,200
- Gross operating margin -€22,284
down €22,284 (-28.5%), from €78,119 to €55,835
- Taxes -€4,300
no longer reported in 2025 (was €4,300)
- Financial charges +€1,140
up €1,140 (+5.9%), from €19,353 to €20,493
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.
Derived cash bridge
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 | €422,636 | €381,053 | -€41,583 | -9.8% |
| Fixed assets | 21/28 | €336,058 | €294,527 | -€41,532 | -12.4% |
| Tangible fixed assets | 22/27 | €336,058 | €294,527 | -€41,532 | -12.4% |
| Plant, machinery and equipment | 23 | €336,058 | €294,527 | -€41,532 | -12.4% |
| Current assets | 29/58 | €86,578 | €86,527 | -€52 | -0.1% |
| Amounts receivable within one year | 40/41 | €15,369 | €11,030 | -€4,339 | -28.2% |
| Trade receivables | 40 | €8,824 | €9,699 | +€875 | +9.9% |
| Other amounts receivable | 41 | €6,545 | €1,331 | -€5,214 | -79.7% |
| Current investments | 50/53 | €42,088 | €69,865 | +€27,777 | +66.0% |
| Cash at bank and in hand | 54/58 | €29,122 | €5,632 | -€23,490 | -80.7% |
| Total equity and liabilities | 10/49 | €422,636 | €381,053 | -€41,583 | -9.8% |
| Equity | 10/15 | €90,553 | €83,919 | -€6,635 | -7.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €8,973 | €5,858 | -€3,115 | -34.7% |
| Distributable reserves | 133 | €8,973 | €5,858 | -€3,115 | -34.7% |
| Profit (loss) carried forward | 14 | €62,980 | €59,460 | -€3,520 | -5.6% |
| Amounts payable | 17/49 | €332,083 | €297,135 | -€34,948 | -10.5% |
| Amounts payable after more than one year | 17 | €290,883 | €255,935 | -€34,948 | -12.0% |
| Financial debts | 170/4 | €72,100 | €30,900 | -€41,200 | -57.1% |
| Other amounts payable | 178/9 | €218,783 | €225,035 | +€6,252 | +2.9% |
| Amounts payable within one year | 42/48 | €41,200 | €41,200 | = | 0.0% |
| Financial debts | 43 | €41,200 | €41,200 | = | 0.0% |
| Credit institutions | 430/8 | €41,200 | €41,200 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,532 | €41,532 | = | 0.0% |
| Other operating charges | 640/8 | €446 | €449 | +€3 | +0.6% |
| Gross operating margin | 9900 | €78,119 | €55,835 | -€22,284 | -28.5% |
| Operating profit (loss) | 9901 | €36,141 | €13,854 | -€22,287 | -61.7% |
| Financial income | 75/76B | €5 | €4 | -€1 | -19.4% |
| Recurring financial income | 75 | €5 | €4 | -€1 | -19.4% |
| Financial charges | 65/66B | €19,353 | €20,493 | +€1,140 | +5.9% |
| Recurring financial charges | 65 | €19,353 | €20,493 | +€1,140 | +5.9% |
| Profit (loss) for the period before taxes | 9903 | €16,794 | -€6,635 | -€23,428 | |
| Income taxes | 67/77 | €4,300 | - | -€4,300 | |
| Profit (loss) for the period | 9904 | €12,494 | -€6,635 | -€19,129 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,494 | -€6,635 | -€19,129 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.