Vivalco: 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.
Vivalco
Largest movements
- Tangible fixed assets -€43,823
down €43,823 (-29.2%), from €150,182 to €106,360
of which Land and buildings: -€42,893
- Formation expenses +€38,610
new in 2025: €38,610
- Receivables within one year +€14,583
up €14,583 (+77.1%), from €18,922 to €33,506
of which Other amounts receivable: +€15,363
- Cash -€7,114
down €7,114 (-37.8%), from €18,806 to €11,692
mainly Contributions, distributions and other (-€28,500) and Receivables within one year (-€14,583)
- Reserves +€15,704
up €15,704 (+8.7%), from €181,335 to €197,039
of which Tax-exempt reserves: +€185,759
- Debts after one year -€14,560
down €14,560 (-19.0%), from €76,745 to €62,185
- Gross operating margin +€17,548
up €17,548 (+34.5%), from €50,863 to €68,411
- Taxes +€1,567
up €1,567 (+11.0%), from €14,259 to €15,826
- Financial charges +€1,159
up €1,159 (+50.7%), from €2,284 to €3,443
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 | €301,625 | €303,956 | +€2,330 | +0.8% |
| Formation expenses | 20 | - | €38,610 | +€38,610 | |
| Fixed assets | 21/28 | €150,182 | €106,360 | -€43,823 | -29.2% |
| Tangible fixed assets | 22/27 | €150,182 | €106,360 | -€43,823 | -29.2% |
| Land and buildings | 22 | €143,021 | €100,127 | -€42,893 | -30.0% |
| Plant, machinery and equipment | 23 | €7,162 | €6,232 | -€929 | -13.0% |
| Current assets | 29/58 | €151,443 | €158,986 | +€7,543 | +5.0% |
| Amounts receivable after more than one year | 29 | €110,000 | €110,000 | = | 0.0% |
| Other amounts receivable | 291 | €110,000 | €110,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €18,922 | €33,506 | +€14,583 | +77.1% |
| Trade receivables | 40 | €11,517 | €10,737 | -€780 | -6.8% |
| Other amounts receivable | 41 | €7,405 | €22,768 | +€15,363 | +207.5% |
| Cash at bank and in hand | 54/58 | €18,806 | €11,692 | -€7,114 | -37.8% |
| Deferred charges and accrued income | 490/1 | €3,714 | €3,788 | +€74 | +2.0% |
| Total equity and liabilities | 10/49 | €301,625 | €303,956 | +€2,330 | +0.8% |
| Equity | 10/15 | €193,735 | €209,439 | +€15,704 | +8.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €181,335 | €197,039 | +€15,704 | +8.7% |
| Tax-exempt reserves | 132 | - | €185,759 | +€185,759 | |
| Distributable reserves | 133 | €181,335 | €11,279 | -€170,055 | -93.8% |
| Amounts payable | 17/49 | €107,891 | €94,517 | -€13,374 | -12.4% |
| Amounts payable after more than one year | 17 | €76,745 | €62,185 | -€14,560 | -19.0% |
| Financial debts | 170/4 | €76,745 | €62,185 | -€14,560 | -19.0% |
| Amounts payable within one year | 42/48 | €31,078 | €32,133 | +€1,056 | +3.4% |
| Current portion of amounts payable after more than one year | 42 | €17,328 | €17,913 | +€585 | +3.4% |
| Trade debts | 44 | €3,404 | €1,332 | -€2,072 | -60.9% |
| Suppliers | 440/4 | €3,404 | €1,332 | -€2,072 | -60.9% |
| Taxes, remuneration and social security | 45 | €10,345 | €9,888 | -€457 | -4.4% |
| Taxes | 450/3 | €10,345 | €9,888 | -€457 | -4.4% |
| Other amounts payable | 47/48 | - | €3,000 | +€3,000 | |
| Accrued charges and deferred income | 492/3 | €69 | €199 | +€130 | +189.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,823 | €7,162 | +€340 | +5.0% |
| Other operating charges | 640/8 | €1,383 | €1,506 | +€124 | +9.0% |
| Gross operating margin | 9900 | €50,863 | €68,411 | +€17,548 | +34.5% |
| Operating profit (loss) | 9901 | €42,658 | €59,742 | +€17,085 | +40.1% |
| Financial income | 75/76B | €3,359 | €3,731 | +€372 | +11.1% |
| Recurring financial income | 75 | €3,359 | €3,731 | +€372 | +11.1% |
| Financial charges | 65/66B | €2,284 | €3,443 | +€1,159 | +50.7% |
| Recurring financial charges | 65 | €2,284 | €3,443 | +€1,159 | +50.7% |
| Profit (loss) for the period before taxes | 9903 | €43,733 | €60,030 | +€16,297 | +37.3% |
| Income taxes | 67/77 | €14,259 | €15,826 | +€1,567 | +11.0% |
| Profit (loss) for the period | 9904 | €29,474 | €44,204 | +€14,731 | +50.0% |
| Profit (loss) for the period to be appropriated | 9905 | €29,474 | €44,204 | +€14,731 | +50.0% |
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 4 October 2026 via checked.be.