VITHE: 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.
VITHE
Largest movements
- Cash +€331,157
up €331,157 (+141%), from €234,735 to €565,892
mainly Net result for the year (+€294,401) and Current investments (+€150,000)
- Receivables within one year +€160,950
up €160,950 (+87.1%), from €184,700 to €345,650
of which Other amounts receivable: +€130,700
- Current investments -€150,000
down €150,000 (-100%), from €150,000 to €0
- Reserves +€201,320
up €201,320 (+6.1%), from €3.3m to €3.5m
- Financial income -€2.5m
down €2.5m (-99.7%), from €2.6m to €7,259
- Financial charges -€267,397
down €267,397 (-81.8%), from €326,732 to €59,335
of which Non-recurring financial charges: -€300,000
- Taxes -€170,421
down €170,421 (-53.7%), from €317,583 to €147,162
- Gross operating margin +€139,857
up €139,857 (+36.4%), from €383,847 to €523,704
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 | €4,890,056 | €5,151,220 | +€261,164 | +5.3% |
| Fixed assets | 21/28 | €4,258,330 | €4,231,088 | -€27,242 | -0.6% |
| Tangible fixed assets | 22/27 | €93,340 | €66,098 | -€27,242 | -29.2% |
| Land and buildings | 22 | €5,868 | €845 | -€5,023 | -85.6% |
| Furniture and vehicles | 24 | €75,417 | €56,665 | -€18,752 | -24.9% |
| Other tangible fixed assets | 26 | €12,055 | €8,588 | -€3,467 | -28.8% |
| Financial fixed assets | 28 | €4,164,990 | €4,164,990 | = | 0.0% |
| Current assets | 29/58 | €631,727 | €920,132 | +€288,406 | +45.7% |
| Amounts receivable after more than one year | 29 | €50,000 | €0 | -€50,000 | -100% |
| Trade receivables | 290 | €0 | - | = | |
| Other amounts receivable | 291 | €50,000 | €0 | -€50,000 | -100% |
| Amounts receivable within one year | 40/41 | €184,700 | €345,650 | +€160,950 | +87.1% |
| Trade receivables | 40 | €60,500 | €90,750 | +€30,250 | +50.0% |
| Other amounts receivable | 41 | €124,200 | €254,900 | +€130,700 | +105% |
| Current investments | 50/53 | €150,000 | €0 | -€150,000 | -100% |
| Cash at bank and in hand | 54/58 | €234,735 | €565,892 | +€331,157 | +141% |
| Deferred charges and accrued income | 490/1 | €12,292 | €8,590 | -€3,701 | -30.1% |
| Total equity and liabilities | 10/49 | €4,890,056 | €5,151,220 | +€261,164 | +5.3% |
| Equity | 10/15 | €3,342,455 | €3,543,775 | +€201,320 | +6.0% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €3,317,455 | €3,518,775 | +€201,320 | +6.1% |
| Distributable reserves | 133 | €3,317,455 | €3,518,775 | +€201,320 | +6.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,547,602 | €1,607,445 | +€59,843 | +3.9% |
| Amounts payable within one year | 42/48 | €1,523,274 | €1,550,155 | +€26,881 | +1.8% |
| Financial debts | 43 | €3,597 | €795 | -€2,802 | -77.9% |
| Credit institutions | 430/8 | €0 | - | = | |
| Other loans | 439 | €3,597 | €795 | -€2,802 | -77.9% |
| Trade debts | 44 | €3,830 | €8,332 | +€4,501 | +118% |
| Suppliers | 440/4 | €3,830 | €8,332 | +€4,501 | +118% |
| Taxes, remuneration and social security | 45 | €244,367 | €269,499 | +€25,132 | +10.3% |
| Taxes | 450/3 | €241,527 | €266,659 | +€25,132 | +10.4% |
| Remuneration and social security | 454/9 | €2,840 | €2,840 | = | 0.0% |
| Other amounts payable | 47/48 | €1,271,480 | €1,271,530 | +€49 | 0.0% |
| Accrued charges and deferred income | 492/3 | €24,328 | €57,290 | +€32,963 | +135% |
| Non-recurring operating income | 76A | €16,000 | €0 | -€16,000 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,340 | €27,242 | +€4,902 | +21.9% |
| Other operating charges | 640/8 | €3,530 | €2,824 | -€706 | -20.0% |
| Gross operating margin | 9900 | €383,847 | €523,704 | +€139,857 | +36.4% |
| Operating profit (loss) | 9901 | €357,976 | €493,638 | +€135,662 | +37.9% |
| Financial income | 75/76B | €2,552,795 | €7,259 | -€2.5m | -99.7% |
| Recurring financial income | 75 | €2,552,795 | €7,259 | -€2.5m | -99.7% |
| Financial charges | 65/66B | €326,732 | €59,335 | -€267,397 | -81.8% |
| Recurring financial charges | 65 | €26,732 | €59,335 | +€32,603 | +122% |
| Non-recurring financial charges | 66B | €300,000 | €0 | -€300,000 | -100% |
| Profit (loss) for the period before taxes | 9903 | €2,584,039 | €441,563 | -€2.1m | -82.9% |
| Income taxes | 67/77 | €317,583 | €147,162 | -€170,421 | -53.7% |
| Profit (loss) for the period | 9904 | €2,266,457 | €294,401 | -€2.0m | -87.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,266,457 | €294,401 | -€2.0m | -87.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.