VITRUVIAN MAN: 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.
VITRUVIAN MAN
Largest movements
- Cash -€21,862
down €21,862 (-63.0%), from €34,722 to €12,860
mainly Net result for the year (-€20,275) and Investment in fixed assets (net) (-€4,663)
- Receivables within one year -€6,449
down €6,449 (-30.0%), from €21,479 to €15,030
of which Trade receivables: -€6,596
- Tangible fixed assets +€3,294
up €3,294 (+188%), from €1,749 to €5,043
of which Plant, machinery and equipment: +€2,426
- Deferred charges and accrued income -€687
down €687 (-29.4%), from €2,338 to €1,651
- Profit (loss) carried forward -€20,275
down €20,275 (-351%), from -€5,776 to -€26,051
- Tax, wage and social debts -€4,158
down €4,158 (-91.8%), from €4,530 to €372
of which Taxes: -€2,508
- Trade debts -€1,697
down €1,697 (-100%), from €1,697 to €0
- Gross operating margin -€22,395
down €22,395, from €4,361 to -€18,034
- Other operating charges -€237
down €237 (-26.2%), from €905 to €668
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 | €60,289 | €34,585 | -€25,704 | -42.6% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €1,749 | €5,043 | +€3,294 | +188% |
| Tangible fixed assets | 22/27 | €1,749 | €5,043 | +€3,294 | +188% |
| Plant, machinery and equipment | 23 | €1,749 | €4,175 | +€2,426 | +139% |
| Furniture and vehicles | 24 | - | €867 | +€867 | |
| Current assets | 29/58 | €58,540 | €29,542 | -€28,998 | -49.5% |
| Amounts receivable within one year | 40/41 | €21,479 | €15,030 | -€6,449 | -30.0% |
| Trade receivables | 40 | €18,503 | €11,908 | -€6,596 | -35.6% |
| Other amounts receivable | 41 | €2,976 | €3,123 | +€147 | +4.9% |
| Cash at bank and in hand | 54/58 | €34,722 | €12,860 | -€21,862 | -63.0% |
| Deferred charges and accrued income | 490/1 | €2,338 | €1,651 | -€687 | -29.4% |
| Total equity and liabilities | 10/49 | €60,289 | €34,585 | -€25,704 | -42.6% |
| Equity | 10/15 | €53,594 | €33,319 | -€20,275 | -37.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €46,970 | €46,970 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €45,110 | €45,110 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,776 | -€26,051 | -€20,275 | -351% |
| Amounts payable | 17/49 | €6,695 | €1,265 | -€5,429 | -81.1% |
| Amounts payable within one year | 42/48 | €6,695 | €1,265 | -€5,429 | -81.1% |
| Trade debts | 44 | €1,697 | €0 | -€1,697 | -100% |
| Suppliers | 440/4 | €1,697 | - | -€1,697 | |
| Taxes, remuneration and social security | 45 | €4,530 | €372 | -€4,158 | -91.8% |
| Taxes | 450/3 | €2,880 | €372 | -€2,508 | -87.1% |
| Remuneration and social security | 454/9 | €1,650 | - | -€1,650 | |
| Other amounts payable | 47/48 | €468 | €893 | +€426 | +91.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,258 | €1,370 | +€112 | +8.9% |
| Other operating charges | 640/8 | €905 | €668 | -€237 | -26.2% |
| Gross operating margin | 9900 | €4,361 | -€18,034 | -€22,395 | |
| Operating profit (loss) | 9901 | €2,199 | -€20,071 | -€22,270 | |
| Financial income | 75/76B | €92 | €127 | +€36 | +38.8% |
| Recurring financial income | 75 | €92 | €127 | +€36 | +38.8% |
| Financial charges | 65/66B | €133 | €153 | +€20 | +14.8% |
| Recurring financial charges | 65 | €133 | €153 | +€20 | +14.8% |
| Profit (loss) for the period before taxes | 9903 | €2,157 | -€20,097 | -€22,254 | |
| Income taxes | 67/77 | €194 | €178 | -€17 | -8.5% |
| Profit (loss) for the period | 9904 | €1,963 | -€20,275 | -€22,238 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,963 | -€20,275 | -€22,238 |
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 29 October 2026 via checked.be.