VITIS: 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.
VITIS
Largest movements
- Receivables within one year +€51.0m
up €51.0m (+77.9%), from €65.5m to €116.5m
of which Other amounts receivable: +€51.0m
- Current investments -€47.5m
down €47.5m (-68.5%), from €69.3m to €21.8m
- Cash -€2.1m
down €2.1m (-82.8%), from €2.5m to €428,732
mainly Receivables within one year (-€51.0m) and Contributions, distributions and other (-€4.0m)
No liability line moved by more than 1% of the balance sheet total.
- Financial charges -€4.5m
down €4.5m (-85.8%), from €5.3m to €746,223
of which Non-recurring financial charges: -€4.7m
- Financial income +€3.1m
up €3.1m (+94.0%), from €3.2m to €6.3m
of which Financial income: +€2.8m
- Taxes +€525,353
up €525,353 (+190.4%), from €275,975 to €801,327
- Gross operating margin -€128,402
down €128,402 (-38.7%), from -€331,811 to -€460,213
- Staff costs -€36,547
down €36,547 (-99.6%), from €36,680 to €133
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €143,152,395 | €144,446,391 | +€1.3m | +0.9% |
| Fixed assets | 21/28 | €5,757,826 | €5,602,545 | -€155,281 | -2.7% |
| Tangible fixed assets | 22/27 | €1,549,502 | €1,539,625 | -€9,877 | -0.6% |
| Land and buildings | 22 | €1,549,502 | €1,539,625 | -€9,877 | -0.6% |
| Financial fixed assets | 28 | €4,208,324 | €4,062,920 | -€145,405 | -3.5% |
| Current assets | 29/58 | €137,394,569 | €138,843,846 | +€1.4m | +1.1% |
| Amounts receivable within one year | 40/41 | €65,460,344 | €116,473,814 | +€51.0m | +77.9% |
| Trade receivables | 40 | €24,252 | €30,400 | +€6,148 | +25.4% |
| Other amounts receivable | 41 | €65,436,092 | €116,443,414 | +€51.0m | +77.9% |
| Current investments | 50/53 | €69,329,901 | €21,833,296 | -€47.5m | -68.5% |
| Cash at bank and in hand | 54/58 | €2,495,424 | €428,732 | -€2.1m | -82.8% |
| Deferred charges and accrued income | 490/1 | €108,900 | €108,005 | -€895 | -0.8% |
| Total equity and liabilities | 10/49 | €143,152,395 | €144,446,391 | +€1.3m | +0.9% |
| Equity | 10/15 | €125,855,971 | €125,921,189 | +€65,218 | +0.1% |
| Contributions | 10/11 | €1,746,000 | €1,746,000 | = | 0.0% |
| Reserves | 13 | €124,109,971 | €124,175,189 | +€65,218 | +0.1% |
| Non-distributable reserves | 130/1 | €1,311,816 | €1,311,816 | = | 0.0% |
| Reserves not available under the articles | 1311 | €24,200 | €24,200 | = | 0.0% |
| Own shares acquired | 1312 | €1,287,616 | €1,287,616 | = | 0.0% |
| Distributable reserves | 133 | €122,798,155 | €122,863,373 | +€65,218 | +0.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €17,296,424 | €18,525,201 | +€1.2m | +7.1% |
| Amounts payable within one year | 42/48 | €17,295,464 | €18,525,201 | +€1.2m | +7.1% |
| Financial debts | 43 | €12,999,068 | €13,823,789 | +€824,721 | +6.3% |
| Credit institutions | 430/8 | €12,999,068 | €13,823,789 | +€824,721 | +6.3% |
| Trade debts | 44 | €54,854 | €13,262 | -€41,592 | -75.8% |
| Suppliers | 440/4 | €54,854 | €13,262 | -€41,592 | -75.8% |
| Taxes, remuneration and social security | 45 | €48,358 | €0 | -€48,358 | -100.0% |
| Taxes | 450/3 | €48,358 | €0 | -€48,358 | -100.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €4,193,184 | €4,688,150 | +€494,966 | +11.8% |
| Accrued charges and deferred income | 492/3 | €960 | €0 | -€960 | -100.0% |
| Remuneration, social security and pensions | 62 | €36,680 | €133 | -€36,547 | -99.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,787 | €17,353 | +€565 | +3.4% |
| Other operating charges | 640/8 | €4,425 | €1,105 | -€3,321 | -75.0% |
| Non-recurring operating charges | 66A | - | €202,058 | +€202,058 | |
| Gross operating margin | 9900 | -€331,811 | -€460,213 | -€128,402 | -38.7% |
| Operating profit (loss) | 9901 | -€389,704 | -€680,861 | -€291,158 | -74.7% |
| Financial income | 75/76B | €3,243,461 | €6,293,630 | +€3.1m | +94.0% |
| Recurring financial income | 75 | €3,243,461 | €6,064,150 | +€2.8m | +87.0% |
| Non-recurring financial income | 76B | €0 | €229,480 | +€229,480 | |
| Financial charges | 65/66B | €5,261,406 | €746,223 | -€4.5m | -85.8% |
| Recurring financial charges | 65 | €561,406 | €746,223 | +€184,817 | +32.9% |
| Non-recurring financial charges | 66B | €4,700,000 | €0 | -€4.7m | -100.0% |
| Profit (loss) for the period before taxes | 9903 | -€2,407,649 | €4,866,546 | +€7.3m | |
| Income taxes | 67/77 | €275,975 | €801,327 | +€525,353 | +190.4% |
| Profit (loss) for the period | 9904 | -€2,683,624 | €4,065,218 | +€6.7m | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,683,624 | €4,065,218 | +€6.7m |
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 28 September 2026 via checked.be.