VITAZ: 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.
What changed
VITAZ
NACE 86.101, Human health activities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€12.9m
2024 · €11.2m+€1.6m
Equity
€181.9m
2024 · €170.2m+€11.7m
Cash
€40.5m
2024 · €23.2m+€17.3m
Balance sheet total
€380.4m
2024 · €375.8m+€4.7m
Largest movements
Assets
- Receivables within one year -€19.6m
down €19.6m (-13.0%), from €150.3m to €130.8m
of which Trade receivables: -€20.9m
- Cash +€17.3m
up €17.3m (+74.4%), from €23.2m to €40.5m
mainly Receivables within one year (+€19.6m) and Depreciation (+€18.6m)
- Tangible fixed assets +€14.7m
up €14.7m (+9.4%), from €156.3m to €171.0m
of which Assets under construction and advance payments: +€25.1m
- Current investments -€7.5m
down €7.5m (-36.7%), from €20.4m to €12.9m
Equity and liabilities
- Reserves +€11.2m
up €11.2m (+14.6%), from €77.1m to €88.3m
- Debts after one year -€5.8m
down €5.8m (-15.2%), from €38.0m to €32.2m
of which Financial debts: -€5.8m
Income statement
- Turnover +€19.7m
up €19.7m (+4.3%), from €455.0m to €474.7m
- Staff costs +€9.8m
up €9.8m (+5.9%), from €167.4m to €177.2m
- Goods and materials +€7.2m
up €7.2m (+6.1%), from €119.1m to €126.3m
of which Purchases: +€6.9m
- Services and other goods +€6.4m
up €6.4m (+3.6%), from €180.1m to €186.5m
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.
Result 2024
€11.2m
Turnover
+€19.7m
Other operating income
+€2.0m
Goods and materials
-€7.2m
Services and other goods
-€6.4m
Staff costs
-€9.8m
Depreciation
-€474,482
Write-downs
-€255,760
Other operating charges
+€560,489
Other operating items
+€3.4m
Financial income
-€73,215
Financial charges
+€170,667
Result 2025
€12.9m
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.
From operations
+€50.4m
Investment
-€25.8m
Financing
-€7.3m
Cash 2024
€23.2m
From operations (derived)
+€50.4m
Net result for the year
+€12.9m
Depreciation
+€18.6m
Receivables after one year
+€1.1m
Stocks and contracts
-€400,204
Receivables within one year
+€19.6m
Deferred charges and accrued income
-€437,518
Provisions
-€1.3m
Trade debts
+€1.4m
Tax, wage and social debts
+€781,587
Accrued charges and deferred income
-€1.7m
Investment (derived)
-€25.8m
Investment in fixed assets (net)
-€33.3m
Current investments
+€7.5m
Financing
-€7.3m
Debts after one year
-€5.8m
Current portion of long-term debt
-€352,403
Contributions, distributions and other
-€1.2m
Not broken down
-€63,711
Cash 2025
€40.5m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €375,762,955 | €380,417,563 | +€4.7m | +1.2% |
| Formation expenses | 20 | €1 | €1 | = | 0.0% |
| Fixed assets | 21/28 | €156,525,743 | €171,201,695 | +€14.7m | +9.4% |
| Intangible fixed assets | 21 | €135,761 | €158,032 | +€22,271 | +16.4% |
| Tangible fixed assets | 22/27 | €156,322,714 | €171,003,663 | +€14.7m | +9.4% |
| Land and buildings | 22 | €116,711,133 | €109,243,305 | -€7.5m | -6.4% |
| Plant, machinery and equipment | 23 | €20,119,814 | €17,595,058 | -€2.5m | -12.5% |
| Furniture and vehicles | 24 | €9,024,946 | €8,644,883 | -€380,063 | -4.2% |
| Assets under construction and advance payments | 27 | €10,466,821 | €35,520,417 | +€25.1m | +239.4% |
| Financial fixed assets | 28 | €67,268 | €40,000 | -€27,268 | -40.5% |
| Other financial fixed assets | 284/8 | €67,268 | €40,000 | -€27,268 | -40.5% |
| Shares | 284 | €67,268 | €40,000 | -€27,268 | -40.5% |
| Current assets | 29/58 | €219,237,211 | €209,215,867 | -€10.0m | -4.6% |
| Amounts receivable after more than one year | 29 | €7,482,712 | €6,405,830 | -€1.1m | -14.4% |
| Other amounts receivable | 291 | €7,482,712 | €6,405,830 | -€1.1m | -14.4% |
| Stocks and contracts in progress | 3 | €11,961,337 | €12,361,541 | +€400,204 | +3.3% |
| Stocks | 30/36 | €11,961,337 | €12,361,541 | +€400,204 | +3.3% |
| Goods purchased for resale | 34 | €11,961,337 | €12,361,541 | +€400,204 | +3.3% |
| Amounts receivable within one year | 40/41 | €150,317,220 | €130,756,028 | -€19.6m | -13.0% |
| Trade receivables | 40 | €138,297,597 | €117,384,693 | -€20.9m | -15.1% |
| Other amounts receivable | 41 | €12,019,623 | €13,371,335 | +€1.4m | +11.2% |
| Current investments | 50/53 | €20,371,855 | €12,887,967 | -€7.5m | -36.7% |
| Cash at bank and in hand | 54/58 | €23,187,330 | €40,450,226 | +€17.3m | +74.4% |
| Deferred charges and accrued income | 490/1 | €5,916,757 | €6,354,275 | +€437,518 | +7.4% |
| Total equity and liabilities | 10/49 | €375,762,955 | €380,417,563 | +€4.7m | +1.2% |
| Equity | 10/15 | €170,205,055 | €181,913,017 | +€11.7m | +6.9% |
| Contributions | 10/11 | €57,701,221 | €57,701,221 | = | 0.0% |
| Capital | 10 | €57,701,221 | €57,701,221 | = | 0.0% |
| Reserves | 13 | €77,081,181 | €88,306,113 | +€11.2m | +14.6% |
| Profit (loss) carried forward | 14 | €11,224,932 | €12,864,965 | +€1.6m | +14.6% |
| Investment grants | 15 | €24,197,721 | €23,040,718 | -€1.2m | -4.8% |
| Provisions and deferred taxes | 16 | €9,687,029 | €8,365,450 | -€1.3m | -13.6% |
| Provisions for liabilities and charges | 160/5 | €9,687,029 | €8,365,450 | -€1.3m | -13.6% |
| Pensions and similar obligations | 160 | €164,813 | €75,899 | -€88,914 | -53.9% |
| Other liabilities and charges | 164/5 | €9,522,216 | €8,289,551 | -€1.2m | -12.9% |
| Amounts payable | 17/49 | €195,870,871 | €190,139,096 | -€5.7m | -2.9% |
| Amounts payable after more than one year | 17 | €37,990,314 | €32,217,896 | -€5.8m | -15.2% |
| Financial debts | 170/4 | €37,142,155 | €31,369,737 | -€5.8m | -15.5% |
| Credit institutions | 173 | €37,142,155 | €31,369,737 | -€5.8m | -15.5% |
| Other amounts payable | 178/9 | €848,159 | €848,159 | = | 0.0% |
| Amounts payable within one year | 42/48 | €148,459,394 | €150,201,796 | +€1.7m | +1.2% |
| Current portion of amounts payable after more than one year | 42 | €6,331,693 | €5,979,290 | -€352,403 | -5.6% |
| Trade debts | 44 | €108,526,866 | €109,903,795 | +€1.4m | +1.3% |
| Suppliers | 440/4 | €108,526,866 | €109,903,795 | +€1.4m | +1.3% |
| Taxes, remuneration and social security | 45 | €33,463,677 | €34,245,264 | +€781,587 | +2.3% |
| Taxes | 450/3 | €2,025,614 | €2,381,276 | +€355,662 | +17.6% |
| Remuneration and social security | 454/9 | €31,438,063 | €31,863,988 | +€425,925 | +1.4% |
| Accrued charges and deferred income | 492/3 | €9,421,163 | €7,719,404 | -€1.7m | -18.1% |
| Operating income | 70/76A | €495,874,198 | €521,222,066 | +€25.3m | +5.1% |
| Turnover | 70 | €455,024,743 | €474,708,586 | +€19.7m | +4.3% |
| Other operating income | 74 | €37,700,388 | €39,734,268 | +€2.0m | +5.4% |
| Non-recurring operating income | 76A | €3,149,067 | €6,779,212 | +€3.6m | +115.3% |
| Operating charges | 60/66A | €486,580,546 | €510,385,833 | +€23.8m | +4.9% |
| Goods for resale, raw materials and consumables | 60 | €119,114,370 | €126,342,199 | +€7.2m | +6.1% |
| Purchases | 600/8 | €119,835,793 | €126,742,402 | +€6.9m | +5.8% |
| Change in stocks: decrease (increase) | 609 | -€721,423 | -€400,203 | +€321,220 | +44.5% |
| Services and other goods | 61 | €180,121,205 | €186,515,744 | +€6.4m | +3.6% |
| Remuneration, social security and pensions | 62 | €167,391,822 | €177,194,064 | +€9.8m | +5.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,173,523 | €18,648,005 | +€474,482 | +2.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€157,610 | €98,150 | +€255,760 | |
| Other operating charges | 640/8 | €1,695,909 | €1,135,420 | -€560,489 | -33.0% |
| Non-recurring operating charges | 66A | €1,351,803 | €1,773,830 | +€422,027 | +31.2% |
| Operating profit (loss) | 9901 | €9,293,652 | €10,836,233 | +€1.5m | +16.6% |
| Financial income | 75/76B | €3,448,074 | €3,374,859 | -€73,215 | -2.1% |
| Recurring financial income | 75 | €3,448,074 | €3,374,859 | -€73,215 | -2.1% |
| Income from current assets | 751 | €343,214 | €343,623 | +€409 | +0.1% |
| Other financial income | 752/9 | €3,104,860 | €3,031,236 | -€73,624 | -2.4% |
| Financial charges | 65/66B | €1,516,794 | €1,346,127 | -€170,667 | -11.3% |
| Recurring financial charges | 65 | €1,516,794 | €1,346,127 | -€170,667 | -11.3% |
| Debt charges | 650 | €1,499,494 | €1,317,984 | -€181,510 | -12.1% |
| Other financial charges | 652/9 | €17,300 | €28,143 | +€10,843 | +62.7% |
| Profit (loss) for the period before taxes | 9903 | €11,224,932 | €12,864,965 | +€1.6m | +14.6% |
| Profit (loss) for the period | 9904 | €11,224,932 | €12,864,965 | +€1.6m | +14.6% |
| Profit (loss) for the period to be appropriated | 9905 | €11,224,932 | €12,864,965 | +€1.6m | +14.6% |
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 4 October 2026 via checked.be.