VIVALDI'S: 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.
VIVALDI'S
Largest movements
- Receivables after one year +€368,703
new in 2025: €368,703
- Receivables within one year -€219,661
down €219,661 (-93.3%), from €235,337 to €15,676
of which Other amounts receivable: -€235,337
- Tangible fixed assets -€137,254
down €137,254 (-8.1%), from €1.7m to €1.6m
- Cash +€23,105
up €23,105 (+1270.7%), from €1,818 to €24,923
mainly Receivables within one year (+€219,661) and Investment in fixed assets (net) (+€130,869)
- Profit (loss) carried forward +€65,056
up €65,056 (+17.6%), from €369,837 to €434,893
- Gross operating margin +€83,381
up €83,381 (+219.2%), from €38,041 to €121,423
- Other operating charges +€34,311
up €34,311 (+673.6%), from €5,094 to €39,405
- Taxes +€5,111
new in 2025: €5,111
- Depreciation -€2,091
down €2,091 (-24.7%), from €8,475 to €6,385
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 | €1,934,524 | €1,969,418 | +€34,893 | +1.8% |
| Fixed assets | 21/28 | €1,697,369 | €1,560,116 | -€137,254 | -8.1% |
| Tangible fixed assets | 22/27 | €1,697,369 | €1,560,116 | -€137,254 | -8.1% |
| Land and buildings | 22 | €1,697,369 | €1,560,116 | -€137,254 | -8.1% |
| Current assets | 29/58 | €237,155 | €409,302 | +€172,147 | +72.6% |
| Amounts receivable after more than one year | 29 | - | €368,703 | +€368,703 | |
| Other amounts receivable | 291 | - | €368,703 | +€368,703 | |
| Amounts receivable within one year | 40/41 | €235,337 | €15,676 | -€219,661 | -93.3% |
| Trade receivables | 40 | - | €15,676 | +€15,676 | |
| Other amounts receivable | 41 | €235,337 | - | -€235,337 | |
| Cash at bank and in hand | 54/58 | €1,818 | €24,923 | +€23,105 | +1270.7% |
| Total equity and liabilities | 10/49 | €1,934,524 | €1,969,418 | +€34,893 | +1.8% |
| Equity | 10/15 | €1,778,601 | €1,843,657 | +€65,056 | +3.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Contributions outside capital | 11 | €18,592 | - | -€18,592 | |
| Share premium | 1100/10 | €18,592 | - | -€18,592 | |
| Revaluation surpluses | 12 | €1,388,313 | €1,388,313 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €369,837 | €434,893 | +€65,056 | +17.6% |
| Amounts payable | 17/49 | €155,923 | €125,761 | -€30,162 | -19.3% |
| Amounts payable after more than one year | 17 | €108,404 | €92,947 | -€15,457 | -14.3% |
| Financial debts | 170/4 | €108,404 | €92,947 | -€15,457 | -14.3% |
| Amounts payable within one year | 42/48 | €47,518 | €32,814 | -€14,705 | -30.9% |
| Financial debts | 43 | €14,959 | €15,697 | +€737 | +4.9% |
| Credit institutions | 430/8 | €14,959 | €15,697 | +€737 | +4.9% |
| Trade debts | 44 | - | €263 | +€263 | |
| Suppliers | 440/4 | - | €263 | +€263 | |
| Taxes, remuneration and social security | 45 | €32,559 | €16,853 | -€15,705 | -48.2% |
| Taxes | 450/3 | €32,559 | €16,853 | -€15,705 | -48.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,475 | €6,385 | -€2,091 | -24.7% |
| Other operating charges | 640/8 | €5,094 | €39,405 | +€34,311 | +673.6% |
| Gross operating margin | 9900 | €38,041 | €121,423 | +€83,381 | +219.2% |
| Operating profit (loss) | 9901 | €24,472 | €75,633 | +€51,161 | +209.1% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €5,405 | €5,467 | +€63 | +1.2% |
| Recurring financial charges | 65 | €5,405 | €5,467 | +€63 | +1.2% |
| Profit (loss) for the period before taxes | 9903 | €19,068 | €70,166 | +€51,098 | +268.0% |
| Income taxes | 67/77 | - | €5,111 | +€5,111 | |
| Profit (loss) for the period | 9904 | €19,068 | €65,056 | +€45,988 | +241.2% |
| Profit (loss) for the period to be appropriated | 9905 | €19,068 | €65,056 | +€45,988 | +241.2% |
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 12 October 2026 via checked.be.