VIVALDI: 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.
VIVALDI
Largest movements
- Receivables within one year -€121,732
down €121,732 (-70.0%), from €173,877 to €52,145
of which Trade receivables: -€99,353
- Tangible fixed assets -€3,552
down €3,552 (-57.2%), from €6,209 to €2,657
- Trade debts -€80,950
down €80,950 (-75.8%), from €106,746 to €25,796
- Profit (loss) carried forward -€50,984
down €50,984 (-169.0%), from -€30,168 to -€81,152
- Advances received +€5,000
new in 2025: €5,000
- Gross operating margin -€46,609
down €46,609, from €680 to -€45,929
- Other operating charges -€683
down €683 (-28.6%), from €2,387 to €1,704
- Financial income -€673
down €673 (-40.4%), from €1,667 to €994
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 | €187,279 | €61,473 | -€125,806 | -67.2% |
| Fixed assets | 21/28 | €11,609 | €8,057 | -€3,552 | -30.6% |
| Tangible fixed assets | 22/27 | €6,209 | €2,657 | -€3,552 | -57.2% |
| Furniture and vehicles | 24 | €6,209 | €2,657 | -€3,552 | -57.2% |
| Financial fixed assets | 28 | €5,400 | €5,400 | = | 0.0% |
| Current assets | 29/58 | €175,669 | €53,416 | -€122,253 | -69.6% |
| Amounts receivable within one year | 40/41 | €173,877 | €52,145 | -€121,732 | -70.0% |
| Trade receivables | 40 | €99,353 | - | -€99,353 | |
| Other amounts receivable | 41 | €74,524 | €52,145 | -€22,379 | -30.0% |
| Cash at bank and in hand | 54/58 | €795 | €216 | -€579 | -72.8% |
| Deferred charges and accrued income | 490/1 | €998 | €1,055 | +€57 | +5.7% |
| Total equity and liabilities | 10/49 | €187,279 | €61,473 | -€125,806 | -67.2% |
| Equity | 10/15 | €24,611 | -€26,373 | -€50,984 | |
| Contributions | 10/11 | €49,331 | €49,331 | = | 0.0% |
| Reserves | 13 | €5,448 | €5,448 | = | 0.0% |
| Distributable reserves | 133 | €5,448 | €5,448 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€30,168 | -€81,152 | -€50,984 | -169.0% |
| Amounts payable | 17/49 | €162,668 | €87,846 | -€74,822 | -46.0% |
| Amounts payable within one year | 42/48 | €162,668 | €87,846 | -€74,822 | -46.0% |
| Trade debts | 44 | €106,746 | €25,796 | -€80,950 | -75.8% |
| Suppliers | 440/4 | €106,746 | €25,796 | -€80,950 | -75.8% |
| Advances received on contracts in progress | 46 | - | €5,000 | +€5,000 | |
| Other amounts payable | 47/48 | €55,922 | €57,051 | +€1,129 | +2.0% |
| Remuneration, social security and pensions | 62 | - | €120 | +€120 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,552 | €3,552 | = | 0.0% |
| Other operating charges | 640/8 | €2,387 | €1,704 | -€683 | -28.6% |
| Gross operating margin | 9900 | €680 | -€45,929 | -€46,609 | |
| Operating profit (loss) | 9901 | -€5,259 | -€51,305 | -€46,046 | -875.6% |
| Financial income | 75/76B | €1,667 | €994 | -€673 | -40.4% |
| Recurring financial income | 75 | €1,667 | €994 | -€673 | -40.4% |
| Financial charges | 65/66B | €656 | €674 | +€17 | +2.6% |
| Recurring financial charges | 65 | €656 | €674 | +€17 | +2.6% |
| Profit (loss) for the period before taxes | 9903 | -€4,248 | -€50,984 | -€46,736 | -1100.2% |
| Profit (loss) for the period | 9904 | -€4,248 | -€50,984 | -€46,736 | -1100.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,248 | -€50,984 | -€46,736 | -1100.2% |
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 6 October 2026 via checked.be.