VIVENDUM: 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.
VIVENDUM
Largest movements
- Cash +€202,030
up €202,030 (+62.4%), from €323,604 to €525,633
mainly Net result for the year (+€190,952) and Depreciation (+€120,900)
- Tangible fixed assets -€113,834
down €113,834 (-19.9%), from €570,861 to €457,026
- Reserves +€139,989
up €139,989 (+21.6%), from €647,075 to €787,063
of which Distributable reserves: +€141,989
- Other debts +€56,661
new in 2025: €56,661
- Debts after one year -€49,756
down €49,756 (-18.9%), from €263,850 to €214,093
- Tax, wage and social debts -€30,328
down €30,328 (-22.6%), from €134,133 to €103,805
of which Taxes: -€31,072
- Trade debts -€13,904
down €13,904 (-27.2%), from €51,120 to €37,216
- Gross operating margin +€130,023
up €130,023 (+21.9%), from €592,859 to €722,882
- Taxes +€28,435
up €28,435 (+80.2%), from €35,446 to €63,882
- Staff costs +€8,497
up €8,497 (+2.6%), from €324,062 to €332,559
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 | €1,178,694 | €1,282,583 | +€103,889 | +8.8% |
| Fixed assets | 21/28 | €570,861 | €457,026 | -€113,834 | -19.9% |
| Tangible fixed assets | 22/27 | €570,861 | €457,026 | -€113,834 | -19.9% |
| Land and buildings | 22 | €287,430 | €242,473 | -€44,957 | -15.6% |
| Plant, machinery and equipment | 23 | €87,675 | €75,305 | -€12,370 | -14.1% |
| Furniture and vehicles | 24 | €195,334 | €139,208 | -€56,126 | -28.7% |
| Other tangible fixed assets | 26 | €421 | €40 | -€381 | -90.5% |
| Current assets | 29/58 | €607,833 | €825,556 | +€217,723 | +35.8% |
| Stocks and contracts in progress | 3 | €37,182 | €48,750 | +€11,568 | +31.1% |
| Stocks | 30/36 | €37,182 | €48,750 | +€11,568 | +31.1% |
| Amounts receivable within one year | 40/41 | €97,048 | €86,590 | -€10,457 | -10.8% |
| Trade receivables | 40 | €25,112 | €27,319 | +€2,208 | +8.8% |
| Other amounts receivable | 41 | €71,936 | €59,271 | -€12,665 | -17.6% |
| Current investments | 50/53 | €150,000 | €160,000 | +€10,000 | +6.7% |
| Cash at bank and in hand | 54/58 | €323,604 | €525,633 | +€202,030 | +62.4% |
| Deferred charges and accrued income | 490/1 | - | €4,583 | +€4,583 | |
| Total equity and liabilities | 10/49 | €1,178,694 | €1,282,583 | +€103,889 | +8.8% |
| Equity | 10/15 | €667,075 | €807,063 | +€139,989 | +21.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €647,075 | €787,063 | +€139,989 | +21.6% |
| Non-distributable reserves | 130/1 | €2,000 | - | -€2,000 | |
| Reserves not available under the articles | 1311 | €2,000 | - | -€2,000 | |
| Distributable reserves | 133 | €645,075 | €787,063 | +€141,989 | +22.0% |
| Amounts payable | 17/49 | €511,619 | €475,519 | -€36,100 | -7.1% |
| Amounts payable after more than one year | 17 | €263,850 | €214,093 | -€49,756 | -18.9% |
| Financial debts | 170/4 | €263,850 | €214,093 | -€49,756 | -18.9% |
| Amounts payable within one year | 42/48 | €247,769 | €257,544 | +€9,774 | +3.9% |
| Current portion of amounts payable after more than one year | 42 | €62,517 | €52,256 | -€10,260 | -16.4% |
| Trade debts | 44 | €51,120 | €37,216 | -€13,904 | -27.2% |
| Suppliers | 440/4 | €51,120 | €37,216 | -€13,904 | -27.2% |
| Advances received on contracts in progress | 46 | - | €7,606 | +€7,606 | |
| Taxes, remuneration and social security | 45 | €134,133 | €103,805 | -€30,328 | -22.6% |
| Taxes | 450/3 | €84,553 | €53,481 | -€31,072 | -36.7% |
| Remuneration and social security | 454/9 | €49,580 | €50,324 | +€745 | +1.5% |
| Other amounts payable | 47/48 | - | €56,661 | +€56,661 | |
| Accrued charges and deferred income | 492/3 | - | €3,882 | +€3,882 | |
| Non-recurring operating income | 76A | €11,166 | - | -€11,166 | |
| Remuneration, social security and pensions | 62 | €324,062 | €332,559 | +€8,497 | +2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €126,102 | €120,900 | -€5,202 | -4.1% |
| Other operating charges | 640/8 | €5,094 | €5,348 | +€254 | +5.0% |
| Non-recurring operating charges | 66A | €3,148 | €304 | -€2,845 | -90.4% |
| Gross operating margin | 9900 | €592,859 | €722,882 | +€130,023 | +21.9% |
| Operating profit (loss) | 9901 | €134,453 | €263,772 | +€129,319 | +96.2% |
| Financial income | 75/76B | €1,919 | €5,371 | +€3,451 | +179.8% |
| Recurring financial income | 75 | €1,919 | €5,371 | +€3,451 | +179.8% |
| Financial charges | 65/66B | €13,734 | €14,309 | +€574 | +4.2% |
| Recurring financial charges | 65 | €13,734 | €14,309 | +€574 | +4.2% |
| Profit (loss) for the period before taxes | 9903 | €122,638 | €254,833 | +€132,195 | +107.8% |
| Income taxes | 67/77 | €35,446 | €63,882 | +€28,435 | +80.2% |
| Profit (loss) for the period | 9904 | €87,191 | €190,952 | +€103,760 | +119.0% |
| Profit (loss) for the period to be appropriated | 9905 | €87,191 | €190,952 | +€103,760 | +119.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.