VYCO: 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.
VYCO
Largest movements
- Intangible fixed assets +€45,135
new in 2025: €45,135
- Receivables within one year +€12,212
up €12,212 (+266.2%), from €4,588 to €16,799
of which Trade receivables: +€12,215
- Deferred charges and accrued income +€7,035
up €7,035 (+771.3%), from €912 to €7,947
- Cash -€6,354
down €6,354 (-85.1%), from €7,471 to €1,116
mainly Investment in fixed assets (net) (-€57,062) and Receivables within one year (-€12,212)
- Debts after one year +€22,489
up €22,489 (+53.8%), from €41,769 to €64,258
- Reserves +€16,744
up €16,744 (+91.5%), from €18,304 to €35,048
- Trade debts +€11,754
up €11,754 (+465.6%), from €2,525 to €14,279
- Other debts +€5,241
up €5,241 (+30.3%), from €17,294 to €22,535
- Tax, wage and social debts +€3,168
up €3,168 (+63.7%), from €4,974 to €8,142
- Gross operating margin +€58,128
up €58,128 (+152.5%), from €38,117 to €96,245
- Staff costs +€35,859
new in 2025: €35,859
- Financial charges +€14,774
up €14,774 (+865.1%), from €1,708 to €16,482
- Depreciation +€8,926
up €8,926 (+480.1%), from €1,859 to €10,785
- Taxes +€3,244
up €3,244 (+40.3%), from €8,050 to €11,293
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 | €100,098 | €159,267 | +€59,170 | +59.1% |
| Fixed assets | 21/28 | €87,127 | €133,404 | +€46,277 | +53.1% |
| Intangible fixed assets | 21 | - | €45,135 | +€45,135 | |
| Tangible fixed assets | 22/27 | €87,127 | €88,269 | +€1,142 | +1.3% |
| Land and buildings | 22 | €54,779 | €53,613 | -€1,167 | -2.1% |
| Plant, machinery and equipment | 23 | €1,035 | €786 | -€248 | -24.0% |
| Furniture and vehicles | 24 | €1,682 | €2,503 | +€821 | +48.8% |
| Other tangible fixed assets | 26 | €29,631 | €31,367 | +€1,736 | +5.9% |
| Current assets | 29/58 | €12,970 | €25,863 | +€12,893 | +99.4% |
| Amounts receivable within one year | 40/41 | €4,588 | €16,799 | +€12,212 | +266.2% |
| Trade receivables | 40 | €2,634 | €14,849 | +€12,215 | +463.8% |
| Other amounts receivable | 41 | €1,954 | €1,950 | -€3 | -0.2% |
| Cash at bank and in hand | 54/58 | €7,471 | €1,116 | -€6,354 | -85.1% |
| Deferred charges and accrued income | 490/1 | €912 | €7,947 | +€7,035 | +771.3% |
| Total equity and liabilities | 10/49 | €100,098 | €159,267 | +€59,170 | +59.1% |
| Equity | 10/15 | €21,304 | €38,048 | +€16,744 | +78.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €18,304 | €35,048 | +€16,744 | +91.5% |
| Distributable reserves | 133 | €18,304 | €35,048 | +€16,744 | +91.5% |
| Amounts payable | 17/49 | €78,793 | €121,219 | +€42,426 | +53.8% |
| Amounts payable after more than one year | 17 | €41,769 | €64,258 | +€22,489 | +53.8% |
| Financial debts | 170/4 | €41,769 | €64,258 | +€22,489 | +53.8% |
| Amounts payable within one year | 42/48 | €37,024 | €56,961 | +€19,937 | +53.8% |
| Current portion of amounts payable after more than one year | 42 | €12,231 | €12,005 | -€226 | -1.8% |
| Trade debts | 44 | €2,525 | €14,279 | +€11,754 | +465.6% |
| Suppliers | 440/4 | €2,525 | €14,279 | +€11,754 | +465.6% |
| Taxes, remuneration and social security | 45 | €4,974 | €8,142 | +€3,168 | +63.7% |
| Taxes | 450/3 | €4,974 | €8,142 | +€3,168 | +63.7% |
| Other amounts payable | 47/48 | €17,294 | €22,535 | +€5,241 | +30.3% |
| Remuneration, social security and pensions | 62 | - | €35,859 | +€35,859 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,859 | €10,785 | +€8,926 | +480.1% |
| Other operating charges | 640/8 | €8,196 | €5,082 | -€3,114 | -38.0% |
| Gross operating margin | 9900 | €38,117 | €96,245 | +€58,128 | +152.5% |
| Operating profit (loss) | 9901 | €28,062 | €44,519 | +€16,457 | +58.6% |
| Financial charges | 65/66B | €1,708 | €16,482 | +€14,774 | +865.1% |
| Recurring financial charges | 65 | €1,708 | €16,482 | +€14,774 | +865.1% |
| Profit (loss) for the period before taxes | 9903 | €26,354 | €28,037 | +€1,683 | +6.4% |
| Income taxes | 67/77 | €8,050 | €11,293 | +€3,244 | +40.3% |
| Profit (loss) for the period | 9904 | €18,304 | €16,744 | -€1,560 | -8.5% |
| Profit (loss) for the period to be appropriated | 9905 | €18,304 | €16,744 | -€1,560 | -8.5% |
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 12 October 2026 via checked.be.