VIVATHERM: 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.
VIVATHERM
Largest movements
- Tangible fixed assets +€153,685
up €153,685 (+44.8%), from €342,819 to €496,504
of which Land and buildings: +€149,279
- Cash -€48,931
down €48,931 (-21.3%), from €229,424 to €180,493
mainly Investment in fixed assets (net) (-€177,349) and Receivables within one year (-€46,350)
- Receivables within one year +€46,350
up €46,350 (+132%), from €35,128 to €81,478
of which Trade receivables: +€42,256
- Debts after one year +€115,651
up €115,651 (+32.0%), from €361,405 to €477,056
of which Financial debts: +€145,651
- Accrued charges and deferred income +€28,090
up €28,090 (+90,351%), from €31 to €28,121
- Reserves +€10,000
up €10,000 (+19.3%), from €51,860 to €61,860
- Gross operating margin -€45,307
down €45,307 (-47.6%), from €95,221 to €49,914
- Financial charges +€7,403
up €7,403 (+161%), from €4,586 to €11,989
- Taxes -€6,196
down €6,196 (-55.7%), from €11,128 to €4,932
- Depreciation +€4,629
up €4,629 (+24.3%), from €19,035 to €23,664
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 | €623,141 | €779,188 | +€156,047 | +25.0% |
| Fixed assets | 21/28 | €343,484 | €497,169 | +€153,685 | +44.7% |
| Tangible fixed assets | 22/27 | €342,819 | €496,504 | +€153,685 | +44.8% |
| Land and buildings | 22 | €341,470 | €490,749 | +€149,279 | +43.7% |
| Furniture and vehicles | 24 | €1,349 | €5,755 | +€4,405 | +326% |
| Financial fixed assets | 28 | €665 | €665 | = | 0.0% |
| Current assets | 29/58 | €279,657 | €282,020 | +€2,362 | +0.8% |
| Stocks and contracts in progress | 3 | €10,818 | €10,785 | -€33 | -0.3% |
| Stocks | 30/36 | €10,818 | €10,785 | -€33 | -0.3% |
| Amounts receivable within one year | 40/41 | €35,128 | €81,478 | +€46,350 | +132% |
| Trade receivables | 40 | €34,091 | €76,347 | +€42,256 | +124% |
| Other amounts receivable | 41 | €1,037 | €5,131 | +€4,094 | +395% |
| Cash at bank and in hand | 54/58 | €229,424 | €180,493 | -€48,931 | -21.3% |
| Deferred charges and accrued income | 490/1 | €4,287 | €9,264 | +€4,977 | +116% |
| Total equity and liabilities | 10/49 | €623,141 | €779,188 | +€156,047 | +25.0% |
| Equity | 10/15 | €221,420 | €231,884 | +€10,465 | +4.7% |
| Contributions | 10/11 | €15,600 | €15,600 | = | 0.0% |
| Reserves | 13 | €51,860 | €61,860 | +€10,000 | +19.3% |
| Distributable reserves | 133 | €51,860 | €61,860 | +€10,000 | +19.3% |
| Profit (loss) carried forward | 14 | €153,960 | €154,424 | +€465 | +0.3% |
| Amounts payable | 17/49 | €401,722 | €547,304 | +€145,583 | +36.2% |
| Amounts payable after more than one year | 17 | €361,405 | €477,056 | +€115,651 | +32.0% |
| Financial debts | 170/4 | €331,405 | €477,056 | +€145,651 | +43.9% |
| Other amounts payable | 178/9 | €30,000 | - | -€30,000 | |
| Amounts payable within one year | 42/48 | €40,286 | €42,127 | +€1,841 | +4.6% |
| Current portion of amounts payable after more than one year | 42 | €25,499 | €25,754 | +€254 | +1.0% |
| Trade debts | 44 | €11,428 | €10,360 | -€1,068 | -9.3% |
| Suppliers | 440/4 | €11,428 | €10,360 | -€1,068 | -9.3% |
| Taxes, remuneration and social security | 45 | €1,170 | €2,849 | +€1,679 | +144% |
| Taxes | 450/3 | €1,170 | €2,849 | +€1,679 | +144% |
| Other amounts payable | 47/48 | €2,188 | €3,164 | +€976 | +44.6% |
| Accrued charges and deferred income | 492/3 | €31 | €28,121 | +€28,090 | +90,351% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,035 | €23,664 | +€4,629 | +24.3% |
| Other operating charges | 640/8 | €641 | - | -€641 | |
| Non-recurring operating charges | 66A | €949 | - | -€949 | |
| Gross operating margin | 9900 | €95,221 | €49,914 | -€45,307 | -47.6% |
| Operating profit (loss) | 9901 | €74,596 | €26,250 | -€48,346 | -64.8% |
| Financial income | 75/76B | €1,418 | €1,136 | -€282 | -19.9% |
| Recurring financial income | 75 | €1,418 | €1,136 | -€282 | -19.9% |
| Financial charges | 65/66B | €4,586 | €11,989 | +€7,403 | +161% |
| Recurring financial charges | 65 | €4,586 | €11,989 | +€7,403 | +161% |
| Profit (loss) for the period before taxes | 9903 | €71,428 | €15,397 | -€56,031 | -78.4% |
| Income taxes | 67/77 | €11,128 | €4,932 | -€6,196 | -55.7% |
| Profit (loss) for the period | 9904 | €60,299 | €10,465 | -€49,835 | -82.6% |
| Profit (loss) for the period to be appropriated | 9905 | €60,299 | €10,465 | -€49,835 | -82.6% |
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 18 October 2026 via checked.be.