VIVaP: 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.
VIVaP
Largest movements
- Tangible fixed assets +€80,585
up €80,585 (+469%), from €17,176 to €97,761
of which Leasing and similar rights: +€82,159
- Receivables within one year -€70,127
down €70,127 (-81.0%), from €86,611 to €16,484
of which Other amounts receivable: -€49,512
- Current investments -€19,500
no longer reported in 2025 (was €19,500)
- Cash +€3,197
up €3,197 (+37.7%), from €8,484 to €11,681
mainly Receivables within one year (+€70,127) and Debts after one year (+€63,017)
- Reserves -€126,126
no longer reported in 2025 (was €126,126)
- Debts after one year +€63,017
new in 2025: €63,017
- Other debts +€29,846
up €29,846 (+5,206%), from €573 to €30,420
- Current portion of long-term debt +€26,580
new in 2025: €26,580
- Trade debts +€2,307
up €2,307 (+68.0%), from €3,393 to €5,699
- Depreciation +€17,709
up €17,709 (+621%), from €2,851 to €20,560
- Gross operating margin +€7,686
up €7,686 (+15.0%), from €51,126 to €58,812
- Financial charges +€3,106
up €3,106 (+1,972%), from €158 to €3,264
- Taxes -€2,630
down €2,630 (-23.9%), from €11,005 to €8,376
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.
Derived cash bridge
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 | €139,827 | €133,643 | -€6,184 | -4.4% |
| Fixed assets | 21/28 | €24,676 | €105,261 | +€80,585 | +327% |
| Tangible fixed assets | 22/27 | €17,176 | €97,761 | +€80,585 | +469% |
| Furniture and vehicles | 24 | €15,984 | €13,383 | -€2,601 | -16.3% |
| Leasing and similar rights | 25 | - | €82,159 | +€82,159 | |
| Other tangible fixed assets | 26 | €1,192 | €2,219 | +€1,027 | +86.1% |
| Financial fixed assets | 28 | €7,500 | €7,500 | = | 0.0% |
| Current assets | 29/58 | €115,151 | €28,382 | -€86,769 | -75.4% |
| Amounts receivable within one year | 40/41 | €86,611 | €16,484 | -€70,127 | -81.0% |
| Trade receivables | 40 | €20,616 | - | -€20,616 | |
| Other amounts receivable | 41 | €65,995 | €16,484 | -€49,512 | -75.0% |
| Current investments | 50/53 | €19,500 | - | -€19,500 | |
| Cash at bank and in hand | 54/58 | €8,484 | €11,681 | +€3,197 | +37.7% |
| Deferred charges and accrued income | 490/1 | €556 | €217 | -€339 | -61.0% |
| Total equity and liabilities | 10/49 | €139,827 | €133,643 | -€6,184 | -4.4% |
| Equity | 10/15 | €126,926 | €800 | -€126,126 | -99.4% |
| Contributions | 10/11 | €800 | €800 | = | 0.0% |
| Reserves | 13 | €126,126 | - | -€126,126 | |
| Distributable reserves | 133 | €126,126 | - | -€126,126 | |
| Amounts payable | 17/49 | €12,901 | €132,843 | +€119,942 | +930% |
| Amounts payable after more than one year | 17 | - | €63,017 | +€63,017 | |
| Financial debts | 170/4 | - | €63,017 | +€63,017 | |
| Amounts payable within one year | 42/48 | €12,901 | €69,826 | +€56,924 | +441% |
| Current portion of amounts payable after more than one year | 42 | - | €26,580 | +€26,580 | |
| Trade debts | 44 | €3,393 | €5,699 | +€2,307 | +68.0% |
| Suppliers | 440/4 | €3,393 | €5,699 | +€2,307 | +68.0% |
| Taxes, remuneration and social security | 45 | €8,936 | €7,127 | -€1,808 | -20.2% |
| Taxes | 450/3 | €8,936 | €7,127 | -€1,808 | -20.2% |
| Other amounts payable | 47/48 | €573 | €30,420 | +€29,846 | +5,206% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,851 | €20,560 | +€17,709 | +621% |
| Other operating charges | 640/8 | €554 | €427 | -€127 | -22.9% |
| Gross operating margin | 9900 | €51,126 | €58,812 | +€7,686 | +15.0% |
| Operating profit (loss) | 9901 | €47,721 | €37,825 | -€9,896 | -20.7% |
| Financial income | 75/76B | €1,208 | €1,336 | +€128 | +10.6% |
| Recurring financial income | 75 | €1,208 | €1,336 | +€128 | +10.6% |
| Financial charges | 65/66B | €158 | €3,264 | +€3,106 | +1,972% |
| Recurring financial charges | 65 | €158 | €3,264 | +€3,106 | +1,972% |
| Profit (loss) for the period before taxes | 9903 | €48,772 | €35,897 | -€12,875 | -26.4% |
| Income taxes | 67/77 | €11,005 | €8,376 | -€2,630 | -23.9% |
| Profit (loss) for the period | 9904 | €37,767 | €27,522 | -€10,245 | -27.1% |
| Profit (loss) for the period to be appropriated | 9905 | €37,767 | €27,522 | -€10,245 | -27.1% |
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 15 October 2026 via checked.be.