VIVABEL: 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.
VIVABEL
Largest movements
- Tangible fixed assets +€356,446
up €356,446 (+28.1%), from €1.3m to €1.6m
of which Land and buildings: +€286,396
- Cash -€66,668
down €66,668 (-63.7%), from €104,698 to €38,030
mainly Investment in fixed assets (net) (-€409,698) and Other debts (-€49,233)
- Debts after one year +€274,044
new in 2025: €274,044
- Reserves +€55,319
up €55,319 (+13.5%), from €409,742 to €465,061
of which Distributable reserves: +€55,659
- Other debts -€49,233
down €49,233 (-9.8%), from €503,550 to €454,317
- Other operating charges +€22,871
up €22,871 (+218.9%), from €10,449 to €33,320
- Depreciation +€12,316
up €12,316 (+30.1%), from €40,936 to €53,252
- Taxes -€10,784
down €10,784 (-30.0%), from €35,993 to €25,209
- Financial charges -€5,183
down €5,183 (-12.3%), from €42,054 to €36,872
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 | €1,393,435 | €1,672,044 | +€278,610 | +20.0% |
| Fixed assets | 21/28 | €1,267,633 | €1,624,078 | +€356,446 | +28.1% |
| Tangible fixed assets | 22/27 | €1,267,633 | €1,624,078 | +€356,446 | +28.1% |
| Land and buildings | 22 | €1,267,633 | €1,554,029 | +€286,396 | +22.6% |
| Plant, machinery and equipment | 23 | - | €2,336 | +€2,336 | |
| Furniture and vehicles | 24 | - | €67,713 | +€67,713 | |
| Current assets | 29/58 | €125,802 | €47,966 | -€77,836 | -61.9% |
| Amounts receivable within one year | 40/41 | €9,742 | €0 | -€9,742 | -100.0% |
| Other amounts receivable | 41 | €9,742 | €0 | -€9,742 | -100.0% |
| Cash at bank and in hand | 54/58 | €104,698 | €38,030 | -€66,668 | -63.7% |
| Deferred charges and accrued income | 490/1 | €11,362 | €9,936 | -€1,426 | -12.6% |
| Total equity and liabilities | 10/49 | €1,393,435 | €1,672,044 | +€278,610 | +20.0% |
| Equity | 10/15 | €813,749 | €869,068 | +€55,319 | +6.8% |
| Contributions | 10/11 | €404,007 | €404,007 | = | 0.0% |
| Capital | 10 | €404,007 | €404,007 | = | 0.0% |
| Issued capital | 100 | €404,007 | €404,007 | = | 0.0% |
| Reserves | 13 | €409,742 | €465,061 | +€55,319 | +13.5% |
| Non-distributable reserves | 130/1 | €40,401 | €40,401 | = | 0.0% |
| Legal reserve | 130 | €40,401 | €40,401 | = | 0.0% |
| Tax-exempt reserves | 132 | €47,227 | €46,887 | -€340 | -0.7% |
| Distributable reserves | 133 | €322,115 | €377,773 | +€55,659 | +17.3% |
| Provisions and deferred taxes | 16 | €15,742 | €15,629 | -€113 | -0.7% |
| Deferred taxes | 168 | €15,742 | €15,629 | -€113 | -0.7% |
| Amounts payable | 17/49 | €563,943 | €787,347 | +€223,404 | +39.6% |
| Amounts payable after more than one year | 17 | - | €274,044 | +€274,044 | |
| Financial debts | 170/4 | - | €274,044 | +€274,044 | |
| Amounts payable within one year | 42/48 | €514,155 | €474,746 | -€39,409 | -7.7% |
| Current portion of amounts payable after more than one year | 42 | - | €2,183 | +€2,183 | |
| Trade debts | 44 | €1,112 | €10,538 | +€9,425 | +847.3% |
| Suppliers | 440/4 | €1,112 | €10,538 | +€9,425 | +847.3% |
| Taxes, remuneration and social security | 45 | €9,493 | €7,709 | -€1,784 | -18.8% |
| Taxes | 450/3 | €9,493 | €7,709 | -€1,784 | -18.8% |
| Other amounts payable | 47/48 | €503,550 | €454,317 | -€49,233 | -9.8% |
| Accrued charges and deferred income | 492/3 | €49,788 | €38,557 | -€11,231 | -22.6% |
| Non-recurring operating income | 76A | €0 | €11,495 | +€11,495 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,936 | €53,252 | +€12,316 | +30.1% |
| Other operating charges | 640/8 | €10,449 | €33,320 | +€22,871 | +218.9% |
| Gross operating margin | 9900 | €204,512 | €203,858 | -€653 | -0.3% |
| Operating profit (loss) | 9901 | €153,127 | €117,287 | -€35,840 | -23.4% |
| Financial charges | 65/66B | €42,054 | €36,872 | -€5,183 | -12.3% |
| Recurring financial charges | 65 | €42,054 | €36,872 | -€5,183 | -12.3% |
| Profit (loss) for the period before taxes | 9903 | €111,073 | €80,415 | -€30,658 | -27.6% |
| Transfer from deferred taxes | 780 | - | €113 | +€113 | |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €35,993 | €25,209 | -€10,784 | -30.0% |
| Profit (loss) for the period | 9904 | €75,079 | €55,319 | -€19,760 | -26.3% |
| Transfer from tax-exempt reserves | 789 | - | €340 | +€340 | |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €75,079 | €55,659 | -€19,421 | -25.9% |
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 8 October 2026 via checked.be.