VIVO Group: 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.
VIVO Group
Largest movements
- Receivables within one year -€31,596
down €31,596 (-34.9%), from €90,547 to €58,950
of which Trade receivables: -€28,638
- Cash -€30,837
down €30,837 (-37.1%), from €83,092 to €52,255
mainly Contributions, distributions and other (-€89,149) and Trade debts (-€29,228)
- Deferred charges and accrued income +€14,284
up €14,284 (+1,319%), from €1,083 to €15,366
- Tangible fixed assets -€7,648
down €7,648 (-62.8%), from €12,175 to €4,528
- Intangible fixed assets -€4,300
down €4,300 (-57.2%), from €7,516 to €3,216
- Trade debts -€29,228
down €29,228 (-58.3%), from €50,157 to €20,929
- Reserves -€25,448
no longer reported in 2025 (was €25,448)
- Tax, wage and social debts -€8,399
down €8,399 (-81.0%), from €10,375 to €1,976
- Other debts +€2,978
up €2,978 (+3.8%), from €78,433 to €81,410
- Gross operating margin -€52,462
down €52,462 (-34.8%), from €150,749 to €98,287
- Taxes -€13,399
down €13,399 (-42.7%), from €31,375 to €17,976
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 | €194,412 | €134,315 | -€60,097 | -30.9% |
| Fixed assets | 21/28 | €19,691 | €7,744 | -€11,948 | -60.7% |
| Intangible fixed assets | 21 | €7,516 | €3,216 | -€4,300 | -57.2% |
| Tangible fixed assets | 22/27 | €12,175 | €4,528 | -€7,648 | -62.8% |
| Furniture and vehicles | 24 | €12,175 | €4,528 | -€7,648 | -62.8% |
| Current assets | 29/58 | €174,721 | €126,571 | -€48,150 | -27.6% |
| Amounts receivable within one year | 40/41 | €90,547 | €58,950 | -€31,596 | -34.9% |
| Trade receivables | 40 | €86,153 | €57,516 | -€28,638 | -33.2% |
| Other amounts receivable | 41 | €4,393 | €1,435 | -€2,959 | -67.3% |
| Cash at bank and in hand | 54/58 | €83,092 | €52,255 | -€30,837 | -37.1% |
| Deferred charges and accrued income | 490/1 | €1,083 | €15,366 | +€14,284 | +1,319% |
| Total equity and liabilities | 10/49 | €194,412 | €134,315 | -€60,097 | -30.9% |
| Equity | 10/15 | €55,448 | €30,000 | -€25,448 | -45.9% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €25,448 | - | -€25,448 | |
| Distributable reserves | 133 | €25,448 | - | -€25,448 | |
| Amounts payable | 17/49 | €138,965 | €104,315 | -€34,649 | -24.9% |
| Amounts payable within one year | 42/48 | €138,965 | €104,315 | -€34,649 | -24.9% |
| Trade debts | 44 | €50,157 | €20,929 | -€29,228 | -58.3% |
| Suppliers | 440/4 | €50,157 | €20,929 | -€29,228 | -58.3% |
| Taxes, remuneration and social security | 45 | €10,375 | €1,976 | -€8,399 | -81.0% |
| Taxes | 450/3 | €10,375 | €1,976 | -€8,399 | -81.0% |
| Other amounts payable | 47/48 | €78,433 | €81,410 | +€2,978 | +3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,846 | €13,113 | +€267 | +2.1% |
| Other operating charges | 640/8 | €1,359 | €1,076 | -€283 | -20.8% |
| Gross operating margin | 9900 | €150,749 | €98,287 | -€52,462 | -34.8% |
| Operating profit (loss) | 9901 | €136,544 | €84,098 | -€52,446 | -38.4% |
| Financial income | 75/76B | €251 | €626 | +€375 | +149% |
| Recurring financial income | 75 | €251 | €626 | +€375 | +149% |
| Financial charges | 65/66B | €1,972 | €3,046 | +€1,075 | +54.5% |
| Recurring financial charges | 65 | €1,972 | €3,046 | +€1,075 | +54.5% |
| Profit (loss) for the period before taxes | 9903 | €134,823 | €81,678 | -€53,145 | -39.4% |
| Income taxes | 67/77 | €31,375 | €17,976 | -€13,399 | -42.7% |
| Profit (loss) for the period | 9904 | €103,448 | €63,702 | -€39,746 | -38.4% |
| Profit (loss) for the period to be appropriated | 9905 | €103,448 | €63,702 | -€39,746 | -38.4% |
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 25 October 2026 via checked.be.