VYTEC: 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.
VYTEC
Largest movements
- Receivables within one year +€37,440
up €37,440 (+137.2%), from €27,292 to €64,732
of which Trade receivables: +€31,150
- Cash +€24,488
up €24,488 (+12.8%), from €190,618 to €215,106
mainly Net result for the year (+€99,961) and Depreciation (+€11,812)
- Tangible fixed assets +€15,843
up €15,843 (+43.7%), from €36,245 to €52,088
of which Furniture and vehicles: +€23,131
- Stocks and contracts +€13,165
up €13,165 (+26.3%), from €50,095 to €63,260
of which Contracts in progress: +€15,450
- Reserves +€99,128
up €99,128 (+54.7%), from €181,095 to €280,224
- Trade debts +€5,373
up €5,373 (+49.1%), from €10,945 to €16,318
- Debts after one year -€5,026
down €5,026 (-45.0%), from €11,163 to €6,137
- Other debts -€4,624
down €4,624 (-5.2%), from €88,531 to €83,907
- Gross operating margin +€31,289
up €31,289 (+21.6%), from €144,878 to €176,167
- Depreciation -€18,224
down €18,224 (-60.7%), from €30,036 to €11,812
- Taxes +€13,175
up €13,175 (+50.2%), from €26,243 to €39,418
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 | €304,250 | €398,156 | +€93,906 | +30.9% |
| Fixed assets | 21/28 | €36,245 | €52,088 | +€15,843 | +43.7% |
| Tangible fixed assets | 22/27 | €36,245 | €52,088 | +€15,843 | +43.7% |
| Plant, machinery and equipment | 23 | €4,468 | €3,269 | -€1,199 | -26.8% |
| Furniture and vehicles | 24 | €12,294 | €35,425 | +€23,131 | +188.1% |
| Leasing and similar rights | 25 | €19,483 | €13,395 | -€6,088 | -31.2% |
| Current assets | 29/58 | €268,005 | €346,068 | +€78,063 | +29.1% |
| Stocks and contracts in progress | 3 | €50,095 | €63,260 | +€13,165 | +26.3% |
| Stocks | 30/36 | €21,195 | €18,910 | -€2,285 | -10.8% |
| Contracts in progress | 37 | €28,900 | €44,350 | +€15,450 | +53.5% |
| Amounts receivable within one year | 40/41 | €27,292 | €64,732 | +€37,440 | +137.2% |
| Trade receivables | 40 | €7,624 | €38,774 | +€31,150 | +408.6% |
| Other amounts receivable | 41 | €19,668 | €25,958 | +€6,290 | +32.0% |
| Cash at bank and in hand | 54/58 | €190,618 | €215,106 | +€24,488 | +12.8% |
| Deferred charges and accrued income | 490/1 | - | €2,970 | +€2,970 | |
| Total equity and liabilities | 10/49 | €304,250 | €398,156 | +€93,906 | +30.9% |
| Equity | 10/15 | €181,595 | €280,724 | +€99,128 | +54.6% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Reserves | 13 | €181,095 | €280,224 | +€99,128 | +54.7% |
| Distributable reserves | 133 | €181,095 | €280,224 | +€99,128 | +54.7% |
| Amounts payable | 17/49 | €122,655 | €117,433 | -€5,222 | -4.3% |
| Amounts payable after more than one year | 17 | €11,163 | €6,137 | -€5,026 | -45.0% |
| Financial debts | 170/4 | €11,163 | €6,137 | -€5,026 | -45.0% |
| Amounts payable within one year | 42/48 | €104,295 | €105,251 | +€956 | +0.9% |
| Current portion of amounts payable after more than one year | 42 | €4,820 | €5,026 | +€207 | +4.3% |
| Trade debts | 44 | €10,945 | €16,318 | +€5,373 | +49.1% |
| Suppliers | 440/4 | €10,945 | €16,318 | +€5,373 | +49.1% |
| Other amounts payable | 47/48 | €88,531 | €83,907 | -€4,624 | -5.2% |
| Accrued charges and deferred income | 492/3 | €7,197 | €6,045 | -€1,152 | -16.0% |
| Non-recurring operating income | 76A | - | €22,360 | +€22,360 | |
| Remuneration, social security and pensions | 62 | €17,896 | €17,470 | -€426 | -2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,036 | €11,812 | -€18,224 | -60.7% |
| Other operating charges | 640/8 | €2,530 | €2,884 | +€354 | +14.0% |
| Gross operating margin | 9900 | €144,878 | €176,167 | +€31,289 | +21.6% |
| Operating profit (loss) | 9901 | €94,416 | €144,000 | +€49,584 | +52.5% |
| Financial income | 75/76B | €3,683 | €3,916 | +€233 | +6.3% |
| Recurring financial income | 75 | €3,683 | €3,916 | +€233 | +6.3% |
| Financial charges | 65/66B | €8,508 | €8,537 | +€29 | +0.3% |
| Recurring financial charges | 65 | €8,508 | €8,537 | +€29 | +0.3% |
| Profit (loss) for the period before taxes | 9903 | €89,591 | €139,379 | +€49,789 | +55.6% |
| Income taxes | 67/77 | €26,243 | €39,418 | +€13,175 | +50.2% |
| Profit (loss) for the period | 9904 | €63,347 | €99,961 | +€36,614 | +57.8% |
| Profit (loss) for the period to be appropriated | 9905 | €63,347 | €99,961 | +€36,614 | +57.8% |
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 29 September 2026 via checked.be.