VIVASALUD: 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.
VIVASALUD
Largest movements
- Tangible fixed assets +€538,488
up €538,488 (+110%), from €488,409 to €1.0m
of which Land and buildings: +€542,127
- Cash -€20,916
down €20,916 (-19.5%), from €107,443 to €86,527
mainly Investment in fixed assets (net) (-€677,713) and Contributions, distributions and other (-€189,034)
- Debts after one year +€523,975
up €523,975 (+230%), from €227,532 to €751,507
of which Financial debts: +€493,975
- Reserves -€84,068
down €84,068 (-35.3%), from €238,093 to €154,025
- Other debts +€42,301
up €42,301 (+27.5%), from €154,081 to €196,382
- Current portion of long-term debt +€32,103
up €32,103 (+84.7%), from €37,893 to €69,996
- Gross operating margin +€173,233
up €173,233 (+80.5%), from €215,106 to €388,339
- Depreciation +€111,755
up €111,755 (+407%), from €27,469 to €139,224
- Financial charges +€33,387
up €33,387 (+53.8%), from €62,114 to €95,501
- Taxes +€5,139
up €5,139 (+18.5%), from €27,710 to €32,849
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 | €668,978 | €1,190,268 | +€521,290 | +77.9% |
| Fixed assets | 21/28 | €488,659 | €1,027,147 | +€538,488 | +110% |
| Tangible fixed assets | 22/27 | €488,409 | €1,026,897 | +€538,488 | +110% |
| Land and buildings | 22 | €444,150 | €986,276 | +€542,127 | +122% |
| Plant, machinery and equipment | 23 | €2,214 | €3,836 | +€1,621 | +73.2% |
| Furniture and vehicles | 24 | €42,045 | €36,785 | -€5,260 | -12.5% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €180,320 | €163,121 | -€17,199 | -9.5% |
| Amounts receivable within one year | 40/41 | €69,473 | €71,994 | +€2,521 | +3.6% |
| Trade receivables | 40 | €62,183 | €71,994 | +€9,811 | +15.8% |
| Other amounts receivable | 41 | €7,290 | - | -€7,290 | |
| Current investments | 50/53 | €3,204 | - | -€3,204 | |
| Cash at bank and in hand | 54/58 | €107,443 | €86,527 | -€20,916 | -19.5% |
| Deferred charges and accrued income | 490/1 | €200 | €4,601 | +€4,401 | +2,200% |
| Total equity and liabilities | 10/49 | €668,978 | €1,190,268 | +€521,290 | +77.9% |
| Equity | 10/15 | €241,093 | €157,025 | -€84,068 | -34.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €238,093 | €154,025 | -€84,068 | -35.3% |
| Distributable reserves | 133 | €238,093 | €154,025 | -€84,068 | -35.3% |
| Amounts payable | 17/49 | €427,886 | €1,033,243 | +€605,357 | +141% |
| Amounts payable after more than one year | 17 | €227,532 | €751,507 | +€523,975 | +230% |
| Financial debts | 170/4 | €192,532 | €686,507 | +€493,975 | +257% |
| Other amounts payable | 178/9 | €35,000 | €65,000 | +€30,000 | +85.7% |
| Amounts payable within one year | 42/48 | €198,618 | €280,230 | +€81,612 | +41.1% |
| Current portion of amounts payable after more than one year | 42 | €37,893 | €69,996 | +€32,103 | +84.7% |
| Trade debts | 44 | €370 | €463 | +€93 | +25.1% |
| Suppliers | 440/4 | €370 | €463 | +€93 | +25.1% |
| Taxes, remuneration and social security | 45 | €6,274 | €13,389 | +€7,115 | +113% |
| Taxes | 450/3 | - | €13,314 | +€13,314 | |
| Remuneration and social security | 454/9 | €6,274 | €75 | -€6,199 | -98.8% |
| Other amounts payable | 47/48 | €154,081 | €196,382 | +€42,301 | +27.5% |
| Accrued charges and deferred income | 492/3 | €1,736 | €1,506 | -€230 | -13.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,469 | €139,224 | +€111,755 | +407% |
| Other operating charges | 640/8 | €1,281 | €3,963 | +€2,681 | +209% |
| Non-recurring operating charges | 66A | - | €12,422 | +€12,422 | |
| Gross operating margin | 9900 | €215,106 | €388,339 | +€173,233 | +80.5% |
| Operating profit (loss) | 9901 | €186,356 | €232,731 | +€46,375 | +24.9% |
| Financial income | 75/76B | €0 | €586 | +€586 | +2,929,500% |
| Recurring financial income | 75 | €0 | €586 | +€586 | +2,929,500% |
| Financial charges | 65/66B | €62,114 | €95,501 | +€33,387 | +53.8% |
| Recurring financial charges | 65 | €62,114 | €95,501 | +€33,387 | +53.8% |
| Profit (loss) for the period before taxes | 9903 | €124,241 | €137,815 | +€13,574 | +10.9% |
| Income taxes | 67/77 | €27,710 | €32,849 | +€5,139 | +18.5% |
| Profit (loss) for the period | 9904 | €96,531 | €104,966 | +€8,435 | +8.7% |
| Profit (loss) for the period to be appropriated | 9905 | €96,531 | €104,966 | +€8,435 | +8.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.