VIX PROJECTS: 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.
VIX PROJECTS
Largest movements
- Tangible fixed assets +€13,188
up €13,188 (+72.2%), from €18,278 to €31,467
of which Leasing and similar rights: +€16,541
- Cash -€12,064
down €12,064 (-50.7%), from €23,775 to €11,710
mainly Debts after one year (-€56,745) and Investment in fixed assets (net) (-€17,691)
- Receivables within one year +€9,754
up €9,754 (+19.9%), from €48,922 to €58,676
of which Trade receivables: +€9,754
- Deferred charges and accrued income +€3,380
up €3,380 (+92.2%), from €3,667 to €7,047
- Short-term financial debts +€69,000
new in 2025: €69,000
- Debts after one year -€56,745
down €56,745 (-82.2%), from €69,000 to €12,255
- Profit (loss) carried forward -€5,225
down €5,225 (-7.8%), from €67,360 to €62,134
- Trade debts +€4,251
up €4,251 (+99.3%), from €4,283 to €8,533
- Current portion of long-term debt +€4,045
new in 2025: €4,045
- Gross operating margin -€34,271
down €34,271 (-28.1%), from €121,996 to €87,726
- Other operating charges -€7,866
down €7,866 (-61.8%), from €12,729 to €4,863
- Taxes -€7,784
down €7,784 (-95.6%), from €8,140 to €356
- Financial charges +€2,850
up €2,850 (+67.5%), from €4,221 to €7,071
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 | €184,642 | €198,900 | +€14,258 | +7.7% |
| Fixed assets | 21/28 | €18,278 | €31,467 | +€13,188 | +72.2% |
| Tangible fixed assets | 22/27 | €18,278 | €31,467 | +€13,188 | +72.2% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Leasing and similar rights | 25 | - | €16,541 | +€16,541 | |
| Other tangible fixed assets | 26 | €18,278 | €14,925 | -€3,353 | -18.3% |
| Current assets | 29/58 | €166,364 | €167,433 | +€1,069 | +0.6% |
| Stocks and contracts in progress | 3 | €90,000 | €90,000 | = | 0.0% |
| Stocks | 30/36 | €90,000 | €90,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €48,922 | €58,676 | +€9,754 | +19.9% |
| Trade receivables | 40 | €17,725 | €27,479 | +€9,754 | +55.0% |
| Other amounts receivable | 41 | €31,197 | €31,197 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €23,775 | €11,710 | -€12,064 | -50.7% |
| Deferred charges and accrued income | 490/1 | €3,667 | €7,047 | +€3,380 | +92.2% |
| Total equity and liabilities | 10/49 | €184,642 | €198,900 | +€14,258 | +7.7% |
| Equity | 10/15 | €67,460 | €62,234 | -€5,225 | -7.7% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €67,360 | €62,134 | -€5,225 | -7.8% |
| Amounts payable | 17/49 | €117,182 | €136,665 | +€19,483 | +16.6% |
| Amounts payable after more than one year | 17 | €69,000 | €12,255 | -€56,745 | -82.2% |
| Financial debts | 170/4 | €69,000 | €12,255 | -€56,745 | -82.2% |
| Amounts payable within one year | 42/48 | €48,182 | €124,410 | +€76,228 | +158% |
| Current portion of amounts payable after more than one year | 42 | - | €4,045 | +€4,045 | |
| Financial debts | 43 | - | €69,000 | +€69,000 | |
| Credit institutions | 430/8 | - | €69,000 | +€69,000 | |
| Trade debts | 44 | €4,283 | €8,533 | +€4,251 | +99.3% |
| Suppliers | 440/4 | €4,283 | €8,533 | +€4,251 | +99.3% |
| Taxes, remuneration and social security | 45 | €28,460 | €30,771 | +€2,311 | +8.1% |
| Taxes | 450/3 | €23,543 | €26,345 | +€2,802 | +11.9% |
| Remuneration and social security | 454/9 | €4,918 | €4,426 | -€491 | -10.0% |
| Other amounts payable | 47/48 | €15,439 | €12,062 | -€3,378 | -21.9% |
| Remuneration, social security and pensions | 62 | €75,409 | €74,683 | -€726 | -1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,457 | €4,502 | +€1,045 | +30.2% |
| Other operating charges | 640/8 | €12,729 | €4,863 | -€7,866 | -61.8% |
| Non-recurring operating charges | 66A | - | €1,476 | +€1,476 | |
| Gross operating margin | 9900 | €121,996 | €87,726 | -€34,271 | -28.1% |
| Operating profit (loss) | 9901 | €30,401 | €2,201 | -€28,200 | -92.8% |
| Financial income | 75/76B | €58 | €0 | -€58 | -100% |
| Recurring financial income | 75 | €58 | €0 | -€58 | -100% |
| Financial charges | 65/66B | €4,221 | €7,071 | +€2,850 | +67.5% |
| Recurring financial charges | 65 | €4,221 | €7,071 | +€2,850 | +67.5% |
| Profit (loss) for the period before taxes | 9903 | €26,238 | -€4,870 | -€31,107 | |
| Income taxes | 67/77 | €8,140 | €356 | -€7,784 | -95.6% |
| Profit (loss) for the period | 9904 | €18,098 | -€5,225 | -€23,323 | |
| Profit (loss) for the period to be appropriated | 9905 | €18,098 | -€5,225 | -€23,323 |
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 14 October 2026 via checked.be.