VUE: 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.
VUE
Largest movements
- Stocks and contracts -€2.9m
down €2.9m (-44.0%), from €6.7m to €3.7m
- Cash +€821,776
up €821,776 (+825.8%), from €99,507 to €921,283
mainly Stocks and contracts (+€2.9m) and Short-term financial debts (+€145,945)
- Receivables within one year -€143,199
down €143,199 (-77.2%), from €185,482 to €42,283
of which Trade receivables: -€169,275
- Advances received -€2.4m
no longer reported in 2025 (was €2.4m)
- Short-term financial debts +€145,945
up €145,945 (+4.0%), from €3.6m to €3.8m
of which Other loans: +€3.8m
- Gross operating margin +€223,123
up €223,123, from -€165,681 to €57,442
- Taxes +€70,515
up €70,515, from €0 to €70,515
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 | €6,990,538 | €4,731,470 | -€2.3m | -32.3% |
| Fixed assets | 21/28 | €3,125 | €3,125 | = | 0.0% |
| Financial fixed assets | 28 | €3,125 | €3,125 | = | 0.0% |
| Current assets | 29/58 | €6,987,413 | €4,728,345 | -€2.3m | -32.3% |
| Stocks and contracts in progress | 3 | €6,673,834 | €3,739,248 | -€2.9m | -44.0% |
| Contracts in progress | 37 | €6,673,834 | €3,739,248 | -€2.9m | -44.0% |
| Amounts receivable within one year | 40/41 | €185,482 | €42,283 | -€143,199 | -77.2% |
| Trade receivables | 40 | €184,448 | €15,173 | -€169,275 | -91.8% |
| Other amounts receivable | 41 | €1,034 | €27,110 | +€26,075 | +2520.6% |
| Cash at bank and in hand | 54/58 | €99,507 | €921,283 | +€821,776 | +825.8% |
| Deferred charges and accrued income | 490/1 | €28,589 | €25,531 | -€3,058 | -10.7% |
| Total equity and liabilities | 10/49 | €6,990,538 | €4,731,470 | -€2.3m | -32.3% |
| Equity | 10/15 | -€237,790 | -€253,862 | -€16,072 | -6.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€239,790 | -€255,862 | -€16,072 | -6.7% |
| Amounts payable | 17/49 | €7,228,327 | €4,985,332 | -€2.2m | -31.0% |
| Amounts payable within one year | 42/48 | €7,224,020 | €4,985,332 | -€2.2m | -31.0% |
| Financial debts | 43 | €3,615,655 | €3,761,600 | +€145,945 | +4.0% |
| Credit institutions | 430/8 | €3,615,655 | - | -€3.6m | |
| Other loans | 439 | - | €3,761,600 | +€3.8m | |
| Trade debts | 44 | €1,216,442 | €1,223,732 | +€7,289 | +0.6% |
| Suppliers | 440/4 | €1,216,442 | €1,223,732 | +€7,289 | +0.6% |
| Advances received on contracts in progress | 46 | €2,363,760 | - | -€2.4m | |
| Taxes, remuneration and social security | 45 | €28,162 | - | -€28,162 | |
| Taxes | 450/3 | €28,162 | - | -€28,162 | |
| Accrued charges and deferred income | 492/3 | €4,308 | - | -€4,308 | |
| Other operating charges | 640/8 | €528 | €1,143 | +€615 | +116.5% |
| Gross operating margin | 9900 | -€165,681 | €57,442 | +€223,123 | |
| Operating profit (loss) | 9901 | -€166,209 | €56,299 | +€222,509 | |
| Financial income | 75/76B | €1,054 | €1,749 | +€695 | +65.9% |
| Recurring financial income | 75 | €1,054 | €1,749 | +€695 | +65.9% |
| Financial charges | 65/66B | €2,000 | €3,607 | +€1,607 | +80.4% |
| Recurring financial charges | 65 | €2,000 | €3,607 | +€1,607 | +80.4% |
| Profit (loss) for the period before taxes | 9903 | -€167,154 | €54,442 | +€221,597 | |
| Income taxes | 67/77 | €0 | €70,515 | +€70,515 | |
| Profit (loss) for the period | 9904 | -€167,154 | -€16,072 | +€151,082 | +90.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€167,154 | -€16,072 | +€151,082 | +90.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.