VIVIER DAVID: 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.
VIVIER DAVID
Largest movements
- Stocks and contracts -€25,418
down €25,418 (-20.0%), from €126,987 to €101,569
- Tangible fixed assets +€10,968
new in 2025: €10,968
- Deferred charges and accrued income -€7,292
down €7,292 (-61.1%), from €11,934 to €4,641
- Trade debts -€30,383
down €30,383 (-41.9%), from €72,532 to €42,149
- Other debts +€12,923
up €12,923 (+10.9%), from €118,976 to €131,899
- Profit (loss) carried forward -€7,503
down €7,503 (-3.0%), from -€249,752 to -€257,254
- Gross operating margin -€29,754
down €29,754, from €25,910 to -€3,844
- Depreciation +€1,032
new in 2025: €1,032
- Financial charges -€371
down €371 (-19.5%), from €1,905 to €1,534
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 | €378,108 | €352,980 | -€25,128 | -6.6% |
| Fixed assets | 21/28 | - | €10,968 | +€10,968 | |
| Tangible fixed assets | 22/27 | - | €10,968 | +€10,968 | |
| Other tangible fixed assets | 26 | - | €10,968 | +€10,968 | |
| Current assets | 29/58 | €378,108 | €342,012 | -€36,096 | -9.5% |
| Stocks and contracts in progress | 3 | €126,987 | €101,569 | -€25,418 | -20.0% |
| Stocks | 30/36 | €126,987 | €101,569 | -€25,418 | -20.0% |
| Amounts receivable within one year | 40/41 | €215,648 | €215,595 | -€54 | 0.0% |
| Trade receivables | 40 | €188,026 | €188,660 | +€634 | +0.3% |
| Other amounts receivable | 41 | €27,622 | €26,934 | -€688 | -2.5% |
| Cash at bank and in hand | 54/58 | €23,539 | €20,207 | -€3,332 | -14.2% |
| Deferred charges and accrued income | 490/1 | €11,934 | €4,641 | -€7,292 | -61.1% |
| Total equity and liabilities | 10/49 | €378,108 | €352,980 | -€25,128 | -6.6% |
| Equity | 10/15 | €186,281 | €178,778 | -€7,503 | -4.0% |
| Contributions | 10/11 | €12,553 | €12,553 | = | 0.0% |
| Reserves | 13 | €423,480 | €423,480 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,875 | €1,875 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,875 | €1,875 | = | 0.0% |
| Distributable reserves | 133 | €421,605 | €421,605 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€249,752 | -€257,254 | -€7,503 | -3.0% |
| Amounts payable | 17/49 | €191,827 | €174,201 | -€17,626 | -9.2% |
| Amounts payable within one year | 42/48 | €191,815 | €174,189 | -€17,626 | -9.2% |
| Trade debts | 44 | €72,532 | €42,149 | -€30,383 | -41.9% |
| Suppliers | 440/4 | €72,532 | €42,149 | -€30,383 | -41.9% |
| Taxes, remuneration and social security | 45 | €306 | €141 | -€165 | -54.0% |
| Taxes | 450/3 | €306 | €141 | -€165 | -54.0% |
| Other amounts payable | 47/48 | €118,976 | €131,899 | +€12,923 | +10.9% |
| Accrued charges and deferred income | 492/3 | €13 | €13 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,032 | +€1,032 | |
| Other operating charges | 640/8 | €940 | €951 | +€11 | +1.2% |
| Gross operating margin | 9900 | €25,910 | -€3,844 | -€29,754 | |
| Operating profit (loss) | 9901 | €24,970 | -€5,828 | -€30,798 | |
| Financial charges | 65/66B | €1,905 | €1,534 | -€371 | -19.5% |
| Recurring financial charges | 65 | €1,905 | €1,534 | -€371 | -19.5% |
| Profit (loss) for the period before taxes | 9903 | €23,065 | -€7,362 | -€30,427 | |
| Income taxes | 67/77 | €141 | €141 | -€1 | -0.4% |
| Profit (loss) for the period | 9904 | €22,924 | -€7,503 | -€30,426 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,924 | -€7,503 | -€30,426 |
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 31 October 2026 via checked.be.