VYCON: 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.
VYCON
Largest movements
- Intangible fixed assets +€429,696
up €429,696 (+384.3%), from €111,826 to €541,522
- Cash +€292,271
up €292,271 (+244.7%), from €119,424 to €411,695
mainly Short-term financial debts (+€710,000) and Tax, wage and social debts (+€521,257)
- Stocks and contracts +€269,036
up €269,036 (+38.4%), from €701,402 to €970,438
of which Contracts in progress: +€210,703
- Tangible fixed assets -€115,241
down €115,241 (-9.1%), from €1.3m to €1.2m
of which Land and buildings: -€163,009
- Receivables within one year -€77,565
down €77,565 (-5.8%), from €1.3m to €1.2m
of which Trade receivables: -€69,872
- Profit (loss) carried forward -€938,928
down €938,928, from €2,356 to -€936,573
- Short-term financial debts +€710,000
new in 2025: €710,000
- Tax, wage and social debts +€521,257
up €521,257 (+212.9%), from €244,869 to €766,126
of which Remuneration and social security: +€265,248
- Other debts +€514,701
up €514,701 (+1346.2%), from €38,233 to €552,934
- Debts after one year -€276,674
down €276,674 (-35.4%), from €781,979 to €505,305
- Staff costs +€589,980
up €589,980 (+37.4%), from €1.6m to €2.2m
- Gross operating margin +€537,532
up €537,532 (+38.6%), from €1.4m to €1.9m
- Depreciation -€72,615
down €72,615 (-22.0%), from €330,106 to €257,491
- Provisions -€54,488
down €54,488, from €5,410 to -€49,078
- Financial income +€34,513
up €34,513 (+875.4%), from €3,942 to €38,455
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 | €3,613,251 | €4,393,569 | +€780,318 | +21.6% |
| Fixed assets | 21/28 | €1,404,220 | €1,693,674 | +€289,455 | +20.6% |
| Intangible fixed assets | 21 | €111,826 | €541,522 | +€429,696 | +384.3% |
| Tangible fixed assets | 22/27 | €1,267,394 | €1,152,152 | -€115,241 | -9.1% |
| Land and buildings | 22 | €1,191,262 | €1,028,254 | -€163,009 | -13.7% |
| Plant, machinery and equipment | 23 | €66 | €0 | -€66 | -100.0% |
| Furniture and vehicles | 24 | €74,686 | €123,898 | +€49,212 | +65.9% |
| Leasing and similar rights | 25 | €1,379 | €0 | -€1,379 | -100.0% |
| Financial fixed assets | 28 | €25,000 | €0 | -€25,000 | -100.0% |
| Current assets | 29/58 | €2,209,031 | €2,699,894 | +€490,863 | +22.2% |
| Stocks and contracts in progress | 3 | €701,402 | €970,438 | +€269,036 | +38.4% |
| Stocks | 30/36 | €701,402 | €759,736 | +€58,334 | +8.3% |
| Contracts in progress | 37 | - | €210,703 | +€210,703 | |
| Amounts receivable within one year | 40/41 | €1,326,662 | €1,249,097 | -€77,565 | -5.8% |
| Trade receivables | 40 | €1,064,222 | €994,350 | -€69,872 | -6.6% |
| Other amounts receivable | 41 | €262,440 | €254,747 | -€7,692 | -2.9% |
| Cash at bank and in hand | 54/58 | €119,424 | €411,695 | +€292,271 | +244.7% |
| Deferred charges and accrued income | 490/1 | €61,543 | €68,664 | +€7,120 | +11.6% |
| Total equity and liabilities | 10/49 | €3,613,251 | €4,393,569 | +€780,318 | +21.6% |
| Equity | 10/15 | €41,302 | -€897,627 | -€938,928 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €20,346 | €20,346 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,360 | €4,360 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,360 | €4,360 | = | 0.0% |
| Tax-exempt reserves | 132 | €15,986 | €15,986 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,356 | -€936,573 | -€938,928 | |
| Provisions and deferred taxes | 16 | €81,876 | €84,126 | +€2,251 | +2.7% |
| Provisions for liabilities and charges | 160/5 | €73,644 | €75,895 | +€2,251 | +3.1% |
| Environmental obligations | 163 | €73,644 | €75,895 | +€2,251 | +3.1% |
| Deferred taxes | 168 | €8,232 | €8,232 | = | 0.0% |
| Amounts payable | 17/49 | €3,490,074 | €5,207,069 | +€1.7m | +49.2% |
| Amounts payable after more than one year | 17 | €781,979 | €505,305 | -€276,674 | -35.4% |
| Financial debts | 170/4 | €781,979 | €505,305 | -€276,674 | -35.4% |
| Amounts payable within one year | 42/48 | €2,708,095 | €4,650,709 | +€1.9m | +71.7% |
| Current portion of amounts payable after more than one year | 42 | €306,751 | €251,910 | -€54,841 | -17.9% |
| Financial debts | 43 | - | €710,000 | +€710,000 | |
| Credit institutions | 430/8 | - | €710,000 | +€710,000 | |
| Trade debts | 44 | €549,255 | €624,467 | +€75,212 | +13.7% |
| Suppliers | 440/4 | €549,255 | €624,467 | +€75,212 | +13.7% |
| Advances received on contracts in progress | 46 | €1,568,987 | €1,745,272 | +€176,285 | +11.2% |
| Taxes, remuneration and social security | 45 | €244,869 | €766,126 | +€521,257 | +212.9% |
| Taxes | 450/3 | €45,205 | €301,214 | +€256,009 | +566.3% |
| Remuneration and social security | 454/9 | €199,664 | €464,912 | +€265,248 | +132.8% |
| Other amounts payable | 47/48 | €38,233 | €552,934 | +€514,701 | +1346.2% |
| Accrued charges and deferred income | 492/3 | - | €51,054 | +€51,054 | |
| Non-recurring operating income | 76A | - | €42,055 | +€42,055 | |
| Remuneration, social security and pensions | 62 | €1,577,157 | €2,167,136 | +€589,980 | +37.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €330,106 | €257,491 | -€72,615 | -22.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €5,410 | -€49,078 | -€54,488 | |
| Other operating charges | 640/8 | €51,095 | €42,866 | -€8,229 | -16.1% |
| Non-recurring operating charges | 66A | €132 | €427,917 | +€427,784 | +323002.5% |
| Gross operating margin | 9900 | €1,393,488 | €1,931,019 | +€537,532 | +38.6% |
| Operating profit (loss) | 9901 | -€570,412 | -€915,313 | -€344,901 | -60.5% |
| Financial income | 75/76B | €3,942 | €38,455 | +€34,513 | +875.4% |
| Recurring financial income | 75 | €3,942 | €38,455 | +€34,513 | +875.4% |
| Financial charges | 65/66B | €95,322 | €62,070 | -€33,252 | -34.9% |
| Recurring financial charges | 65 | €95,322 | €62,070 | -€33,252 | -34.9% |
| Profit (loss) for the period before taxes | 9903 | -€661,792 | -€938,928 | -€277,136 | -41.9% |
| Transfer from deferred taxes | 780 | €22,109 | €0 | -€22,109 | -100.0% |
| Income taxes | 67/77 | €5,042 | €0 | -€5,042 | -100.0% |
| Profit (loss) for the period | 9904 | -€644,726 | -€938,928 | -€294,202 | -45.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€644,726 | -€938,928 | -€294,202 | -45.6% |
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 2 October 2026 via checked.be.