VIV: 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.
VIV
Largest movements
- Receivables within one year +€209,453
up €209,453 (+1896.5%), from €11,044 to €220,498
- Tangible fixed assets +€131,889
up €131,889 (+7.7%), from €1.7m to €1.8m
of which Land and buildings: +€132,253
- Trade debts +€210,456
up €210,456 (+1776.9%), from €11,844 to €222,300
- Debts after one year +€81,532
up €81,532 (+15.4%), from €528,266 to €609,798
- Other debts +€31,772
up €31,772 (+7.2%), from €439,769 to €471,542
- Financial charges +€29,884
up €29,884 (+282.6%), from €10,574 to €40,458
- Gross operating margin -€13,658
down €13,658 (-8.5%), from €160,433 to €146,775
- Depreciation -€8,211
down €8,211 (-8.2%), from €100,109 to €91,898
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 | €1,731,117 | €2,072,530 | +€341,413 | +19.7% |
| Fixed assets | 21/28 | €1,709,566 | €1,842,043 | +€132,477 | +7.7% |
| Tangible fixed assets | 22/27 | €1,708,499 | €1,840,388 | +€131,889 | +7.7% |
| Land and buildings | 22 | €1,708,136 | €1,840,388 | +€132,253 | +7.7% |
| Plant, machinery and equipment | 23 | €364 | €0 | -€364 | -100.0% |
| Financial fixed assets | 28 | €1,067 | €1,655 | +€588 | +55.1% |
| Current assets | 29/58 | €21,551 | €230,487 | +€208,936 | +969.5% |
| Amounts receivable within one year | 40/41 | €11,044 | €220,498 | +€209,453 | +1896.5% |
| Trade receivables | 40 | €11,044 | €220,498 | +€209,453 | +1896.5% |
| Cash at bank and in hand | 54/58 | €3,007 | €1,508 | -€1,499 | -49.9% |
| Deferred charges and accrued income | 490/1 | €7,500 | €8,481 | +€981 | +13.1% |
| Total equity and liabilities | 10/49 | €1,731,117 | €2,072,530 | +€341,413 | +19.7% |
| Equity | 10/15 | €683,143 | €682,062 | -€1,080 | -0.2% |
| Contributions | 10/11 | €586,000 | €586,000 | = | 0.0% |
| Reserves | 13 | €58,600 | €58,600 | = | 0.0% |
| Distributable reserves | 133 | €58,600 | €58,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €38,543 | €37,462 | -€1,080 | -2.8% |
| Amounts payable | 17/49 | €1,047,975 | €1,390,468 | +€342,493 | +32.7% |
| Amounts payable after more than one year | 17 | €528,266 | €609,798 | +€81,532 | +15.4% |
| Financial debts | 170/4 | €528,266 | €609,798 | +€81,532 | +15.4% |
| Amounts payable within one year | 42/48 | €519,369 | €779,286 | +€259,918 | +50.0% |
| Current portion of amounts payable after more than one year | 42 | €67,756 | €77,093 | +€9,337 | +13.8% |
| Financial debts | 43 | - | €45 | +€45 | |
| Credit institutions | 430/8 | - | €45 | +€45 | |
| Trade debts | 44 | €11,844 | €222,300 | +€210,456 | +1776.9% |
| Suppliers | 440/4 | €11,844 | €222,300 | +€210,456 | +1776.9% |
| Taxes, remuneration and social security | 45 | - | €8,307 | +€8,307 | |
| Taxes | 450/3 | - | €8,307 | +€8,307 | |
| Other amounts payable | 47/48 | €439,769 | €471,542 | +€31,772 | +7.2% |
| Accrued charges and deferred income | 492/3 | €340 | €1,384 | +€1,043 | +306.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €100,109 | €91,898 | -€8,211 | -8.2% |
| Other operating charges | 640/8 | €16,260 | €15,500 | -€760 | -4.7% |
| Gross operating margin | 9900 | €160,433 | €146,775 | -€13,658 | -8.5% |
| Operating profit (loss) | 9901 | €44,064 | €39,377 | -€4,687 | -10.6% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €10,574 | €40,458 | +€29,884 | +282.6% |
| Recurring financial charges | 65 | €10,574 | €40,458 | +€29,884 | +282.6% |
| Profit (loss) for the period before taxes | 9903 | €33,491 | -€1,080 | -€34,571 | |
| Profit (loss) for the period | 9904 | €33,491 | -€1,080 | -€34,571 | |
| Profit (loss) for the period to be appropriated | 9905 | €33,491 | -€1,080 | -€34,571 |
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 3 October 2026 via checked.be.