VYTECH MENEN: 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.
What changed
VYTECH MENEN
NACE 46.630, Wholesale trade
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€4.4m
2024 · -€617,831-€3.8m
Equity
€1.8m
2024 · €3.4m-€1.6m
Cash
€829,435
2024 · €693,712+€135,723
Balance sheet total
€11.3m
2024 · €15.3m-€4.0m
Largest movements
Assets
- Financial fixed assets -€4.1m
down €4.1m (-99.5%), from €4.1m to €19,547
- Stocks and contracts +€598,727
up €598,727 (+83.3%), from €718,911 to €1.3m
of which Contracts in progress: +€532,977
- Tangible fixed assets -€502,704
down €502,704 (-10.9%), from €4.6m to €4.1m
- Intangible fixed assets -€452,250
down €452,250 (-16.7%), from €2.7m to €2.3m
- Receivables within one year +€325,038
up €325,038 (+13.6%), from €2.4m to €2.7m
of which Trade receivables: +€389,788
Equity and liabilities
- Profit (loss) carried forward -€3.4m
new in 2025: -€3.4m
- Contributions +€2.8m
up €2.8m (+202.0%), from €1.4m to €4.2m
- Debts after one year -€2.8m
down €2.8m (-46.0%), from €6.1m to €3.3m
of which Other amounts payable: -€2.0m
- Advances received +€1.3m
up €1.3m (+2081.5%), from €61,832 to €1.3m
- Reserves -€1.0m
down €1.0m (-51.6%), from €2.0m to €959,587
of which Distributable reserves: -€1.0m
Income statement
- Turnover +€13.4m
new in 2025: €13.4m
- Gross operating margin -€7.2m
no longer reported in 2025 (was €7.2m)
- Goods and materials +€4.4m
new in 2025: €4.4m
of which Purchases: +€4.4m
- Financial charges +€4.3m
up €4.3m (+1002.7%), from €431,381 to €4.8m
of which Non-recurring financial charges: +€4.4m
- Services and other goods +€1.7m
new in 2025: €1.7m
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.
Result 2024
-€617,831
Turnover
+€13.4m
Other operating income
+€638,918
Goods and materials
-€4.4m
Services and other goods
-€1.7m
Staff costs
+€255,406
Depreciation
+€28,760
Write-downs
+€81,622
Other operating charges
-€3,031
Other operating items
-€7.9m
Financial income
+€2,953
Financial charges
-€4.3m
Taxes
+€53,818
Result 2025
-€4.4m
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.
From operations
-€3.2m
Investment
+€4.1m
Financing
-€793,874
Cash 2024
€693,712
From operations (derived)
-€3.2m
Net result for the year
-€4.4m
Depreciation
+€996,969
Stocks and contracts
-€598,727
Receivables within one year
-€325,038
Smaller working-capital items
-€1,240
Provisions
-€17,531
Trade debts
-€45,361
Tax, wage and social debts
-€135,099
Advances received
+€1.3m
Other debts
+€81,186
Investment (derived)
+€4.1m
Investment in fixed assets (net)
+€4.1m
Financing
-€793,874
Debts after one year
-€2.8m
Current portion of long-term debt
-€602,000
Short-term financial debts
-€200,000
Contributions, distributions and other
+€2.8m
Cash 2025
€829,435
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €15,329,164 | €11,310,731 | -€4.0m | -26.2% |
| Fixed assets | 21/28 | €11,485,562 | €6,408,337 | -€5.1m | -44.2% |
| Intangible fixed assets | 21 | €2,713,501 | €2,261,251 | -€452,250 | -16.7% |
| Tangible fixed assets | 22/27 | €4,630,244 | €4,127,539 | -€502,704 | -10.9% |
| Land and buildings | 22 | €1,025,875 | €959,762 | -€66,113 | -6.4% |
| Plant, machinery and equipment | 23 | €204,891 | €161,621 | -€43,270 | -21.1% |
| Furniture and vehicles | 24 | €523,737 | €355,806 | -€167,931 | -32.1% |
| Leasing and similar rights | 25 | €2,582,018 | €2,361,627 | -€220,391 | -8.5% |
| Other tangible fixed assets | 26 | €293,724 | €288,724 | -€5,000 | -1.7% |
| Financial fixed assets | 28 | €4,141,817 | €19,547 | -€4.1m | -99.5% |
| Other financial fixed assets | 284/8 | - | €19,547 | +€19,547 | |
| Amounts receivable and cash guarantees | 285/8 | - | €19,547 | +€19,547 | |
| Current assets | 29/58 | €3,843,602 | €4,902,394 | +€1.1m | +27.5% |
| Stocks and contracts in progress | 3 | €718,911 | €1,317,638 | +€598,727 | +83.3% |
| Stocks | 30/36 | €237,546 | €303,296 | +€65,751 | +27.7% |
| Raw materials and consumables | 30/31 | - | €303,296 | +€303,296 | |
| Contracts in progress | 37 | €481,365 | €1,014,342 | +€532,977 | +110.7% |
| Amounts receivable within one year | 40/41 | €2,381,645 | €2,706,683 | +€325,038 | +13.6% |
| Trade receivables | 40 | €2,113,149 | €2,502,936 | +€389,788 | +18.4% |
| Other amounts receivable | 41 | €268,496 | €203,746 | -€64,750 | -24.1% |
| Cash at bank and in hand | 54/58 | €693,712 | €829,435 | +€135,723 | +19.6% |
| Deferred charges and accrued income | 490/1 | €49,334 | €48,638 | -€697 | -1.4% |
| Total equity and liabilities | 10/49 | €15,329,164 | €11,310,731 | -€4.0m | -26.2% |
| Equity | 10/15 | €3,382,398 | €1,817,990 | -€1.6m | -46.3% |
| Contributions | 10/11 | €1,400,000 | €4,228,451 | +€2.8m | +202.0% |
| Reserves | 13 | €1,982,398 | €959,587 | -€1.0m | -51.6% |
| Tax-exempt reserves | 132 | €745,279 | €745,279 | = | 0.0% |
| Distributable reserves | 133 | €1,237,118 | €214,307 | -€1.0m | -82.7% |
| Profit (loss) carried forward | 14 | - | -€3,370,048 | -€3.4m | |
| Provisions and deferred taxes | 16 | €258,934 | €241,402 | -€17,531 | -6.8% |
| Provisions for liabilities and charges | 160/5 | €238 | €238 | = | 0.0% |
| Other liabilities and charges | 164/5 | €238 | €238 | = | 0.0% |
| Deferred taxes | 168 | €258,696 | €241,164 | -€17,531 | -6.8% |
| Amounts payable | 17/49 | €11,687,833 | €9,251,339 | -€2.4m | -20.8% |
| Amounts payable after more than one year | 17 | €6,128,041 | €3,307,715 | -€2.8m | -46.0% |
| Financial debts | 170/4 | €4,099,233 | €3,307,715 | -€791,518 | -19.3% |
| Leasing and similar obligations | 172 | - | €2,145,760 | +€2.1m | |
| Credit institutions | 173 | - | €1,161,955 | +€1.2m | |
| Other amounts payable | 178/9 | €2,028,807 | - | -€2.0m | |
| Amounts payable within one year | 42/48 | €5,537,633 | €5,923,402 | +€385,769 | +7.0% |
| Current portion of amounts payable after more than one year | 42 | €1,393,518 | €791,518 | -€602,000 | -43.2% |
| Financial debts | 43 | €1,000,000 | €800,000 | -€200,000 | -20.0% |
| Credit institutions | 430/8 | €1,000,000 | €800,000 | -€200,000 | -20.0% |
| Trade debts | 44 | €2,011,776 | €1,966,415 | -€45,361 | -2.3% |
| Suppliers | 440/4 | €2,011,776 | €1,966,415 | -€45,361 | -2.3% |
| Advances received on contracts in progress | 46 | €61,832 | €1,348,873 | +€1.3m | +2081.5% |
| Taxes, remuneration and social security | 45 | €874,018 | €738,920 | -€135,099 | -15.5% |
| Taxes | 450/3 | €303,536 | €41,655 | -€261,881 | -86.3% |
| Remuneration and social security | 454/9 | €570,482 | €697,264 | +€126,782 | +22.2% |
| Other amounts payable | 47/48 | €196,490 | €277,676 | +€81,186 | +41.3% |
| Accrued charges and deferred income | 492/3 | €22,158 | €20,222 | -€1,936 | -8.7% |
| Operating income | 70/76A | - | €13,300,432 | +€13.3m | |
| Turnover | 70 | - | €13,410,431 | +€13.4m | |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | - | -€754,065 | -€754,065 | |
| Other operating income | 74 | - | €638,918 | +€638,918 | |
| Non-recurring operating income | 76A | €63,958 | €5,148 | -€58,811 | -92.0% |
| Operating charges | 60/66A | - | €12,960,612 | +€13.0m | |
| Goods for resale, raw materials and consumables | 60 | - | €4,355,950 | +€4.4m | |
| Purchases | 600/8 | - | €4,421,700 | +€4.4m | |
| Change in stocks: decrease (increase) | 609 | - | -€65,751 | -€65,751 | |
| Services and other goods | 61 | - | €1,701,915 | +€1.7m | |
| Remuneration, social security and pensions | 62 | €6,173,135 | €5,917,729 | -€255,406 | -4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,025,729 | €996,969 | -€28,760 | -2.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€771 | -€82,394 | -€81,622 | -10583.1% |
| Other operating charges | 640/8 | €67,411 | €70,442 | +€3,031 | +4.5% |
| Non-recurring operating charges | 66A | €61,298 | - | -€61,298 | |
| Gross operating margin | 9900 | €7,173,033 | - | -€7.2m | |
| Operating profit (loss) | 9901 | -€153,768 | €339,820 | +€493,589 | |
| Financial income | 75/76B | €23,637 | €26,590 | +€2,953 | +12.5% |
| Recurring financial income | 75 | €23,637 | €26,590 | +€2,953 | +12.5% |
| Income from financial fixed assets | 750 | - | €14,502 | +€14,502 | |
| Other financial income | 752/9 | - | €12,088 | +€12,088 | |
| Financial charges | 65/66B | €431,381 | €4,756,769 | +€4.3m | +1002.7% |
| Recurring financial charges | 65 | €315,537 | €230,374 | -€85,163 | -27.0% |
| Debt charges | 650 | - | €220,789 | +€220,789 | |
| Other financial charges | 652/9 | - | €9,585 | +€9,585 | |
| Non-recurring financial charges | 66B | €115,844 | €4,526,395 | +€4.4m | +3807.3% |
| Profit (loss) for the period before taxes | 9903 | -€561,512 | -€4,390,358 | -€3.8m | -681.9% |
| Transfer from deferred taxes | 780 | €17,531 | €17,531 | = | 0.0% |
| Income taxes | 67/77 | €73,851 | €20,032 | -€53,818 | -72.9% |
| Taxes | 670/3 | - | €20,032 | +€20,032 | |
| Profit (loss) for the period | 9904 | -€617,831 | -€4,392,859 | -€3.8m | -611.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€617,831 | -€4,392,859 | -€3.8m | -611.0% |
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 3 October 2026 via checked.be.