Vitorelio: 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.
Vitorelio
Largest movements
- Current investments +€50,000
new in 2025: €50,000
- Receivables within one year -€12,821
down €12,821 (-99.1%), from €12,934 to €113
of which Trade receivables: -€12,907
- Cash +€3,318
up €3,318 (+11.1%), from €29,794 to €33,112
mainly Net result for the year (+€36,445) and Receivables within one year (+€12,821)
- Tangible fixed assets -€2,774
down €2,774 (-7.5%), from €37,042 to €34,269
of which Furniture and vehicles: -€8,112
- Reserves +€35,612
up €35,612 (+212.8%), from €16,737 to €52,350
- Debts after one year -€7,199
down €7,199 (-27.3%), from €26,387 to €19,188
- Other debts +€5,548
up €5,548 (+103.2%), from €5,378 to €10,926
- Tax, wage and social debts +€3,425
up €3,425 (+21.9%), from €15,669 to €19,094
of which Taxes: +€5,375
- Gross operating margin +€28,364
up €28,364 (+100.5%), from €28,230 to €56,594
- Taxes +€5,324
up €5,324 (+111.1%), from €4,794 to €10,118
- Depreciation +€3,544
up €3,544 (+71.3%), from €4,973 to €8,516
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 | €79,770 | €117,494 | +€37,724 | +47.3% |
| Fixed assets | 21/28 | €37,042 | €34,269 | -€2,774 | -7.5% |
| Tangible fixed assets | 22/27 | €37,042 | €34,269 | -€2,774 | -7.5% |
| Plant, machinery and equipment | 23 | €1,328 | €1,037 | -€291 | -21.9% |
| Furniture and vehicles | 24 | €35,715 | €27,603 | -€8,112 | -22.7% |
| Other tangible fixed assets | 26 | - | €5,629 | +€5,629 | |
| Current assets | 29/58 | €42,728 | €83,226 | +€40,497 | +94.8% |
| Amounts receivable within one year | 40/41 | €12,934 | €113 | -€12,821 | -99.1% |
| Trade receivables | 40 | €12,907 | €0 | -€12,907 | -100.0% |
| Other amounts receivable | 41 | €27 | €113 | +€86 | +318.3% |
| Current investments | 50/53 | - | €50,000 | +€50,000 | |
| Cash at bank and in hand | 54/58 | €29,794 | €33,112 | +€3,318 | +11.1% |
| Total equity and liabilities | 10/49 | €79,770 | €117,494 | +€37,724 | +47.3% |
| Equity | 10/15 | €18,737 | €54,350 | +€35,612 | +190.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €16,737 | €52,350 | +€35,612 | +212.8% |
| Distributable reserves | 133 | €16,737 | €52,350 | +€35,612 | +212.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €61,033 | €63,145 | +€2,111 | +3.5% |
| Amounts payable after more than one year | 17 | €26,387 | €19,188 | -€7,199 | -27.3% |
| Financial debts | 170/4 | €26,387 | €19,188 | -€7,199 | -27.3% |
| Amounts payable within one year | 42/48 | €34,646 | €43,707 | +€9,060 | +26.2% |
| Current portion of amounts payable after more than one year | 42 | €11,941 | €12,199 | +€258 | +2.2% |
| Financial debts | 43 | €30 | €19 | -€11 | -36.2% |
| Credit institutions | 430/8 | €30 | €19 | -€11 | -36.2% |
| Trade debts | 44 | €1,628 | €1,469 | -€159 | -9.8% |
| Suppliers | 440/4 | €1,628 | €1,469 | -€159 | -9.8% |
| Taxes, remuneration and social security | 45 | €15,669 | €19,094 | +€3,425 | +21.9% |
| Taxes | 450/3 | €13,719 | €19,094 | +€5,375 | +39.2% |
| Remuneration and social security | 454/9 | €1,950 | €0 | -€1,950 | -100.0% |
| Other amounts payable | 47/48 | €5,378 | €10,926 | +€5,548 | +103.2% |
| Accrued charges and deferred income | 492/3 | - | €250 | +€250 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,973 | €8,516 | +€3,544 | +71.3% |
| Other operating charges | 640/8 | €110 | €319 | +€209 | +190.0% |
| Gross operating margin | 9900 | €28,230 | €56,594 | +€28,364 | +100.5% |
| Operating profit (loss) | 9901 | €23,147 | €47,759 | +€24,612 | +106.3% |
| Financial charges | 65/66B | €783 | €1,195 | +€412 | +52.7% |
| Recurring financial charges | 65 | €783 | €1,195 | +€412 | +52.7% |
| Profit (loss) for the period before taxes | 9903 | €22,364 | €46,564 | +€24,199 | +108.2% |
| Income taxes | 67/77 | €4,794 | €10,118 | +€5,324 | +111.1% |
| Profit (loss) for the period | 9904 | €17,570 | €36,445 | +€18,875 | +107.4% |
| Profit (loss) for the period to be appropriated | 9905 | €17,570 | €36,445 | +€18,875 | +107.4% |
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 10 October 2026 via checked.be.