VIVALO: 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.
VIVALO
Largest movements
- Tangible fixed assets +€346,829
up €346,829 (+81.3%), from €426,464 to €773,293
of which Land and buildings: +€359,042
- Stocks and contracts +€131,937
new in 2025: €131,937
- Receivables within one year +€54,541
up €54,541 (+141.6%), from €38,523 to €93,064
of which Trade receivables: +€59,846
- Cash +€35,208
up €35,208 (+202.3%), from €17,405 to €52,613
mainly Debts after one year (+€360,028) and Other debts (+€121,394)
- Debts after one year +€360,028
up €360,028 (+70.3%), from €512,134 to €872,162
- Other debts +€121,394
new in 2025: €121,394
- Trade debts +€50,407
up €50,407 (+268.1%), from €18,802 to €69,209
- Reserves +€28,645
up €28,645 (+9.3%), from €308,419 to €337,064
- Gross operating margin +€32,135
up €32,135 (+26.3%), from €122,154 to €154,289
- Other operating charges +€12,155
up €12,155 (+34.0%), from €35,719 to €47,874
- Taxes +€8,079
up €8,079 (+154.7%), from €5,223 to €13,302
- Depreciation +€7,492
up €7,492 (+26.0%), from €28,840 to €36,332
- Financial charges +€5,037
up €5,037 (+21.8%), from €23,100 to €28,137
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 | €937,118 | €1,505,358 | +€568,240 | +60.6% |
| Fixed assets | 21/28 | €870,914 | €1,217,743 | +€346,829 | +39.8% |
| Tangible fixed assets | 22/27 | €426,464 | €773,293 | +€346,829 | +81.3% |
| Land and buildings | 22 | €334,913 | €693,955 | +€359,042 | +107.2% |
| Plant, machinery and equipment | 23 | €773 | €591 | -€182 | -23.5% |
| Furniture and vehicles | 24 | €18,600 | €12,339 | -€6,261 | -33.7% |
| Other tangible fixed assets | 26 | €72,178 | €66,408 | -€5,770 | -8.0% |
| Financial fixed assets | 28 | €444,450 | €444,450 | = | 0.0% |
| Current assets | 29/58 | €66,204 | €287,615 | +€221,411 | +334.4% |
| Amounts receivable after more than one year | 29 | €10,000 | €10,000 | = | 0.0% |
| Other amounts receivable | 291 | €10,000 | €10,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | - | €131,937 | +€131,937 | |
| Stocks | 30/36 | - | €131,937 | +€131,937 | |
| Amounts receivable within one year | 40/41 | €38,523 | €93,064 | +€54,541 | +141.6% |
| Trade receivables | 40 | €1,889 | €61,734 | +€59,846 | +3168.7% |
| Other amounts receivable | 41 | €36,634 | €31,330 | -€5,304 | -14.5% |
| Cash at bank and in hand | 54/58 | €17,405 | €52,613 | +€35,208 | +202.3% |
| Deferred charges and accrued income | 490/1 | €276 | - | -€276 | |
| Total equity and liabilities | 10/49 | €937,118 | €1,505,358 | +€568,240 | +60.6% |
| Equity | 10/15 | €328,419 | €357,064 | +€28,645 | +8.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €308,419 | €337,064 | +€28,645 | +9.3% |
| Distributable reserves | 133 | €308,419 | €337,064 | +€28,645 | +9.3% |
| Amounts payable | 17/49 | €608,699 | €1,148,294 | +€539,595 | +88.6% |
| Amounts payable after more than one year | 17 | €512,134 | €872,162 | +€360,028 | +70.3% |
| Financial debts | 170/4 | €512,134 | €872,162 | +€360,028 | +70.3% |
| Amounts payable within one year | 42/48 | €95,440 | €273,882 | +€178,442 | +187.0% |
| Current portion of amounts payable after more than one year | 42 | €56,999 | €71,377 | +€14,378 | +25.2% |
| Trade debts | 44 | €18,802 | €69,209 | +€50,407 | +268.1% |
| Suppliers | 440/4 | €18,802 | €69,209 | +€50,407 | +268.1% |
| Advances received on contracts in progress | 46 | €8,200 | - | -€8,200 | |
| Taxes, remuneration and social security | 45 | €11,439 | €11,902 | +€464 | +4.1% |
| Taxes | 450/3 | €10,239 | €11,902 | +€1,664 | +16.2% |
| Remuneration and social security | 454/9 | €1,200 | - | -€1,200 | |
| Other amounts payable | 47/48 | - | €121,394 | +€121,394 | |
| Accrued charges and deferred income | 492/3 | €1,125 | €2,250 | +€1,125 | +100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,840 | €36,332 | +€7,492 | +26.0% |
| Other operating charges | 640/8 | €35,719 | €47,874 | +€12,155 | +34.0% |
| Non-recurring operating charges | 66A | €8,210 | - | -€8,210 | |
| Gross operating margin | 9900 | €122,154 | €154,289 | +€32,135 | +26.3% |
| Operating profit (loss) | 9901 | €49,385 | €70,084 | +€20,699 | +41.9% |
| Financial income | 75/76B | €1,599 | - | -€1,599 | |
| Recurring financial income | 75 | €1,599 | - | -€1,599 | |
| Financial charges | 65/66B | €23,100 | €28,137 | +€5,037 | +21.8% |
| Recurring financial charges | 65 | €23,100 | €28,137 | +€5,037 | +21.8% |
| Profit (loss) for the period before taxes | 9903 | €27,884 | €41,947 | +€14,063 | +50.4% |
| Income taxes | 67/77 | €5,223 | €13,302 | +€8,079 | +154.7% |
| Profit (loss) for the period | 9904 | €22,661 | €28,645 | +€5,984 | +26.4% |
| Profit (loss) for the period to be appropriated | 9905 | €22,661 | €28,645 | +€5,984 | +26.4% |
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.