VIVATHAL: 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.
VIVATHAL
Largest movements
- Cash -€24,642
down €24,642 (-61.1%), from €40,332 to €15,690
mainly Debts after one year (-€24,225) and Investment in fixed assets (net) (-€9,862)
- Tangible fixed assets -€8,266
down €8,266 (-2.1%), from €395,039 to €386,773
of which Land and buildings: -€17,221
- Debts after one year -€24,225
down €24,225 (-56.4%), from €42,928 to €18,703
of which Financial debts: -€24,225
- Gross operating margin -€36,081
down €36,081 (-59.8%), from €60,352 to €24,271
- Write-downs -€27,000
down €27,000 (-100%), from €27,000 to €0
- Taxes -€1,717
down €1,717 (-100%), from €1,717 to €0
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 | €486,580 | €458,244 | -€28,336 | -5.8% |
| Fixed assets | 21/28 | €395,039 | €386,773 | -€8,266 | -2.1% |
| Tangible fixed assets | 22/27 | €395,039 | €386,773 | -€8,266 | -2.1% |
| Land and buildings | 22 | €389,413 | €372,191 | -€17,221 | -4.4% |
| Plant, machinery and equipment | 23 | €5,626 | €14,582 | +€8,955 | +159% |
| Current assets | 29/58 | €91,541 | €71,471 | -€20,070 | -21.9% |
| Amounts receivable after more than one year | 29 | €42,720 | €42,720 | = | 0.0% |
| Other amounts receivable | 291 | €42,720 | €42,720 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €8,489 | €13,061 | +€4,572 | +53.9% |
| Other amounts receivable | 41 | €8,489 | €13,061 | +€4,572 | +53.9% |
| Cash at bank and in hand | 54/58 | €40,332 | €15,690 | -€24,642 | -61.1% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €486,580 | €458,244 | -€28,336 | -5.8% |
| Equity | 10/15 | €417,616 | €414,897 | -€2,719 | -0.7% |
| Contributions | 10/11 | €315,000 | €315,000 | = | 0.0% |
| Reserves | 13 | €2,932 | €2,932 | = | 0.0% |
| Distributable reserves | 133 | €2,932 | €2,932 | = | 0.0% |
| Profit (loss) carried forward | 14 | €99,684 | €96,965 | -€2,719 | -2.7% |
| Amounts payable | 17/49 | €68,964 | €43,348 | -€25,617 | -37.1% |
| Amounts payable after more than one year | 17 | €42,928 | €18,703 | -€24,225 | -56.4% |
| Financial debts | 170/4 | €30,328 | €6,103 | -€24,225 | -79.9% |
| Other amounts payable | 178/9 | €12,600 | €12,600 | = | 0.0% |
| Amounts payable within one year | 42/48 | €26,037 | €24,645 | -€1,392 | -5.3% |
| Current portion of amounts payable after more than one year | 42 | €23,927 | €24,225 | +€297 | +1.2% |
| Trade debts | 44 | €2,110 | €420 | -€1,690 | -80.1% |
| Suppliers | 440/4 | €2,110 | €420 | -€1,690 | -80.1% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,758 | €18,128 | +€370 | +2.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €27,000 | €0 | -€27,000 | -100% |
| Other operating charges | 640/8 | €8,303 | €8,564 | +€261 | +3.1% |
| Gross operating margin | 9900 | €60,352 | €24,271 | -€36,081 | -59.8% |
| Operating profit (loss) | 9901 | €7,291 | -€2,421 | -€9,712 | |
| Financial income | 75/76B | €806 | €392 | -€414 | -51.3% |
| Recurring financial income | 75 | €806 | €392 | -€414 | -51.3% |
| Financial charges | 65/66B | €934 | €691 | -€243 | -26.1% |
| Recurring financial charges | 65 | €934 | €691 | -€243 | -26.1% |
| Profit (loss) for the period before taxes | 9903 | €7,163 | -€2,719 | -€9,882 | |
| Income taxes | 67/77 | €1,717 | €0 | -€1,717 | -100% |
| Profit (loss) for the period | 9904 | €5,446 | -€2,719 | -€8,165 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,446 | -€2,719 | -€8,165 |
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.