VORTEX 2020: 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.
VORTEX 2020
Largest movements
- Stocks and contracts +€76,611
up €76,611 (+52.9%), from €144,803 to €221,414
- Receivables within one year +€44,542
up €44,542 (+122.2%), from €36,460 to €81,002
of which Other amounts receivable: +€46,366
- Tangible fixed assets -€27,785
down €27,785 (-26.6%), from €104,445 to €76,660
- Cash +€5,081
up €5,081 (+502.5%), from €1,011 to €6,092
mainly Debts after one year (+€159,500) and Depreciation (+€39,579)
- Debts after one year +€159,500
new in 2021: €159,500
- Profit (loss) carried forward -€73,760
down €73,760 (-37.1%), from -€198,974 to -€272,733
- Debts within one year +€12,709
up €12,709 (+3.3%), from €385,693 to €398,402
of which Other debts: +€375,562
- Depreciation +€27,702
up €27,702 (+233.2%), from €11,877 to €39,579
- Financial charges +€13,146
new in 2021: €13,146
- Financial income +€9,125
new in 2021: €9,125
of which Non-recurring financial income: +€8,625
- Gross operating margin +€3,726
up €3,726 (+11.7%), from -€31,978 to -€28,251
- Taxes +€1,588
new in 2021: €1,588
From the 2020 result to the 2021 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 2020 and 2021 balance sheets and the 2021 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2020 | 2021 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €286,719 | €385,169 | +€98,450 | +34.3% |
| Fixed assets | 21/28 | €104,445 | €76,660 | -€27,785 | -26.6% |
| Tangible fixed assets | 22/27 | €104,445 | €76,660 | -€27,785 | -26.6% |
| Plant, machinery and equipment | 23 | - | €2,698 | +€2,698 | |
| Furniture and vehicles | 24 | - | €73,963 | +€73,963 | |
| Current assets | 29/58 | €182,274 | €308,508 | +€126,235 | +69.3% |
| Stocks and contracts in progress | 3 | €144,803 | €221,414 | +€76,611 | +52.9% |
| Stocks | 30/36 | - | €221,414 | +€221,414 | |
| Amounts receivable within one year | 40/41 | €36,460 | €81,002 | +€44,542 | +122.2% |
| Trade receivables | 40 | - | €34,636 | +€34,636 | |
| Other amounts receivable | 41 | - | €46,366 | +€46,366 | |
| Cash at bank and in hand | 54/58 | €1,011 | €6,092 | +€5,081 | +502.5% |
| Total equity and liabilities | 10/49 | €286,719 | €385,169 | +€98,450 | +34.3% |
| Equity | 10/15 | -€98,974 | -€172,733 | -€73,760 | -74.5% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | - | €100,000 | +€100,000 | |
| Issued capital | 100 | - | €100,000 | +€100,000 | |
| Profit (loss) carried forward | 14 | -€198,974 | -€272,733 | -€73,760 | -37.1% |
| Amounts payable | 17/49 | €385,693 | €557,902 | +€172,209 | +44.6% |
| Amounts payable after more than one year | 17 | - | €159,500 | +€159,500 | |
| Financial debts | 170/4 | - | €159,500 | +€159,500 | |
| Amounts payable within one year | 42/48 | €385,693 | €398,402 | +€12,709 | +3.3% |
| Trade debts | 44 | €26,396 | €21,055 | -€5,341 | -20.2% |
| Suppliers | 440/4 | - | €21,055 | +€21,055 | |
| Taxes, remuneration and social security | 45 | - | €1,785 | +€1,785 | |
| Taxes | 450/3 | - | €1,785 | +€1,785 | |
| Other amounts payable | 47/48 | - | €375,562 | +€375,562 | |
| Non-recurring operating income | 76A | - | €51,197 | +€51,197 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,877 | €39,579 | +€27,702 | +233.2% |
| Other operating charges | 640/8 | - | €321 | +€321 | |
| Gross operating margin | 9900 | -€31,978 | -€28,251 | +€3,726 | +11.7% |
| Operating profit (loss) | 9901 | -€43,855 | -€68,150 | -€24,296 | -55.4% |
| Financial income | 75/76B | - | €9,125 | +€9,125 | |
| Recurring financial income | 75 | €6 | €500 | +€494 | +8828.6% |
| Non-recurring financial income | 76B | - | €8,625 | +€8,625 | |
| Financial charges | 65/66B | - | €13,146 | +€13,146 | |
| Recurring financial charges | 65 | €134 | €13,146 | +€13,012 | +9697.9% |
| Profit (loss) for the period before taxes | 9903 | -€43,983 | -€72,171 | -€28,188 | -64.1% |
| Income taxes | 67/77 | - | €1,588 | +€1,588 | |
| Profit (loss) for the period | 9904 | -€43,983 | -€73,760 | -€29,776 | -67.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€43,983 | -€73,760 | -€29,776 | -67.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2020 and 31 December 2021. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.