VYBEX: 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.
VYBEX
Largest movements
- Receivables within one year +€23,275
up €23,275 (+24.3%), from €95,673 to €118,948
of which Other amounts receivable: +€21,806
- Cash -€18,244
down €18,244 (-32.6%), from €55,984 to €37,740
mainly Trade debts (-€31,614) and Receivables within one year (-€23,275)
- Tangible fixed assets -€16,419
down €16,419 (-26.2%), from €62,578 to €46,160
of which Furniture and vehicles: -€8,356
- Stocks and contracts -€14,051
down €14,051 (-31.2%), from €45,000 to €30,950
- Deferred charges and accrued income +€7,927
up €7,927 (+537.7%), from €1,474 to €9,402
- Trade debts -€31,614
down €31,614 (-34.9%), from €90,465 to €58,851
- Profit (loss) carried forward +€25,908
up €25,908, from -€5,673 to €20,235
- Debts after one year -€10,418
down €10,418 (-74.5%), from €13,991 to €3,574
- Tax, wage and social debts -€3,466
down €3,466 (-21.4%), from €16,213 to €12,747
of which Remuneration and social security: -€2,436
- Gross operating margin +€48,740
up €48,740 (+187.5%), from €25,990 to €74,730
- Staff costs -€10,189
down €10,189 (-32.3%), from €31,507 to €21,318
- Depreciation +€6,866
up €6,866 (+71.9%), from €9,553 to €16,419
- Financial charges +€3,025
up €3,025 (+55.5%), from €5,448 to €8,474
- Other operating charges -€2,807
down €2,807 (-74.3%), from €3,776 to €969
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 | €272,809 | €252,274 | -€20,536 | -7.5% |
| Fixed assets | 21/28 | €74,678 | €55,235 | -€19,444 | -26.0% |
| Tangible fixed assets | 22/27 | €62,578 | €46,160 | -€16,419 | -26.2% |
| Land and buildings | 22 | €406 | €19 | -€387 | -95.3% |
| Furniture and vehicles | 24 | €28,764 | €20,408 | -€8,356 | -29.0% |
| Other tangible fixed assets | 26 | €33,408 | €25,732 | -€7,676 | -23.0% |
| Financial fixed assets | 28 | €12,100 | €9,075 | -€3,025 | -25.0% |
| Current assets | 29/58 | €198,131 | €197,039 | -€1,092 | -0.6% |
| Stocks and contracts in progress | 3 | €45,000 | €30,950 | -€14,051 | -31.2% |
| Stocks | 30/36 | €45,000 | €30,950 | -€14,051 | -31.2% |
| Amounts receivable within one year | 40/41 | €95,673 | €118,948 | +€23,275 | +24.3% |
| Trade receivables | 40 | - | €1,469 | +€1,469 | |
| Other amounts receivable | 41 | €95,673 | €117,479 | +€21,806 | +22.8% |
| Cash at bank and in hand | 54/58 | €55,984 | €37,740 | -€18,244 | -32.6% |
| Deferred charges and accrued income | 490/1 | €1,474 | €9,402 | +€7,927 | +537.7% |
| Total equity and liabilities | 10/49 | €272,809 | €252,274 | -€20,536 | -7.5% |
| Equity | 10/15 | €60,776 | €86,684 | +€25,908 | +42.6% |
| Contributions | 10/11 | €45,000 | €45,000 | = | 0.0% |
| Reserves | 13 | €21,449 | €21,449 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,500 | €4,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,500 | €4,500 | = | 0.0% |
| Distributable reserves | 133 | €16,949 | €16,949 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,673 | €20,235 | +€25,908 | |
| Amounts payable | 17/49 | €212,034 | €165,590 | -€46,444 | -21.9% |
| Amounts payable after more than one year | 17 | €13,991 | €3,574 | -€10,418 | -74.5% |
| Financial debts | 170/4 | €13,991 | €3,574 | -€10,418 | -74.5% |
| Amounts payable within one year | 42/48 | €198,042 | €162,016 | -€36,026 | -18.2% |
| Current portion of amounts payable after more than one year | 42 | €9,977 | €10,418 | +€441 | +4.4% |
| Financial debts | 43 | €1,386 | €0 | -€1,386 | -100.0% |
| Credit institutions | 430/8 | - | €0 | = | |
| Other loans | 439 | €1,386 | - | -€1,386 | |
| Trade debts | 44 | €90,465 | €58,851 | -€31,614 | -34.9% |
| Suppliers | 440/4 | €90,465 | €58,851 | -€31,614 | -34.9% |
| Taxes, remuneration and social security | 45 | €16,213 | €12,747 | -€3,466 | -21.4% |
| Taxes | 450/3 | €11,619 | €10,589 | -€1,030 | -8.9% |
| Remuneration and social security | 454/9 | €4,595 | €2,158 | -€2,436 | -53.0% |
| Other amounts payable | 47/48 | €80,000 | €80,000 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €31,507 | €21,318 | -€10,189 | -32.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,553 | €16,419 | +€6,866 | +71.9% |
| Other operating charges | 640/8 | €3,776 | €969 | -€2,807 | -74.3% |
| Gross operating margin | 9900 | €25,990 | €74,730 | +€48,740 | +187.5% |
| Operating profit (loss) | 9901 | -€18,846 | €36,024 | +€54,870 | |
| Financial income | 75/76B | - | €666 | +€666 | |
| Recurring financial income | 75 | - | €666 | +€666 | |
| Financial charges | 65/66B | €5,448 | €8,474 | +€3,025 | +55.5% |
| Recurring financial charges | 65 | €5,448 | €8,474 | +€3,025 | +55.5% |
| Profit (loss) for the period before taxes | 9903 | -€24,294 | €28,217 | +€52,511 | |
| Income taxes | 67/77 | -€5 | €2,309 | +€2,314 | |
| Profit (loss) for the period | 9904 | -€24,289 | €25,908 | +€50,198 | |
| Profit (loss) for the period to be appropriated | 9905 | -€24,289 | €25,908 | +€50,198 |
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 4 October 2026 via checked.be.