Vyvex: 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.
Vyvex
Largest movements
- Deferred charges and accrued income +€302,951
up €302,951 (+1,128%), from €26,855 to €329,806
- Current investments +€247,935
up €247,935 (+131%), from €188,704 to €436,639
- Receivables within one year -€195,011
down €195,011 (-10.4%), from €1.9m to €1.7m
of which Trade receivables: -€113,610
- Cash +€153,363
up €153,363 (+36.3%), from €422,647 to €576,011
mainly Net result for the year (+€983,930) and Depreciation (+€718,290)
- Tangible fixed assets +€112,448
up €112,448 (+6.9%), from €1.6m to €1.7m
of which Leasing and similar rights: +€351,363
- Reserves +€498,947
up €498,947 (+38.3%), from €1.3m to €1.8m
of which Tax-exempt reserves: +€315,750
- Other debts +€208,813
up €208,813 (+3,815%), from €5,473 to €214,286
- Debts after one year +€153,148
up €153,148 (+15.0%), from €1.0m to €1.2m
- Short-term financial debts -€127,988
down €127,988 (-49.9%), from €256,693 to €128,705
of which Credit institutions: -€185,616
- Current portion of long-term debt +€80,768
up €80,768 (+18.7%), from €432,721 to €513,489
- Gross operating margin +€983,470
up €983,470 (+15.4%), from €6.4m to €7.4m
- Taxes +€163,215
up €163,215 (+68.4%), from €238,499 to €401,714
- Staff costs +€139,513
up €139,513 (+2.9%), from €4.8m to €4.9m
- Depreciation +€78,872
up €78,872 (+12.3%), from €639,418 to €718,290
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.
Derived cash bridge
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 | €4,202,850 | €4,850,401 | +€647,551 | +15.4% |
| Fixed assets | 21/28 | €1,695,466 | €1,833,780 | +€138,314 | +8.2% |
| Intangible fixed assets | 21 | €33,820 | €51,448 | +€17,628 | +52.1% |
| Tangible fixed assets | 22/27 | €1,635,173 | €1,747,621 | +€112,448 | +6.9% |
| Plant, machinery and equipment | 23 | €79,607 | €45,501 | -€34,106 | -42.8% |
| Furniture and vehicles | 24 | €715,090 | €499,657 | -€215,434 | -30.1% |
| Leasing and similar rights | 25 | €827,473 | €1,178,836 | +€351,363 | +42.5% |
| Other tangible fixed assets | 26 | €13,003 | €23,628 | +€10,625 | +81.7% |
| Financial fixed assets | 28 | €26,473 | €34,711 | +€8,238 | +31.1% |
| Current assets | 29/58 | €2,507,384 | €3,016,621 | +€509,237 | +20.3% |
| Amounts receivable within one year | 40/41 | €1,869,177 | €1,674,166 | -€195,011 | -10.4% |
| Trade receivables | 40 | €1,755,931 | €1,642,320 | -€113,610 | -6.5% |
| Other amounts receivable | 41 | €113,247 | €31,846 | -€81,401 | -71.9% |
| Current investments | 50/53 | €188,704 | €436,639 | +€247,935 | +131% |
| Cash at bank and in hand | 54/58 | €422,647 | €576,011 | +€153,363 | +36.3% |
| Deferred charges and accrued income | 490/1 | €26,855 | €329,806 | +€302,951 | +1,128% |
| Total equity and liabilities | 10/49 | €4,202,850 | €4,850,401 | +€647,551 | +15.4% |
| Equity | 10/15 | €1,336,163 | €1,814,901 | +€478,738 | +35.8% |
| Contributions | 10/11 | €35,000 | €14,791 | -€20,209 | -57.7% |
| Reserves | 13 | €1,301,163 | €1,800,110 | +€498,947 | +38.3% |
| Tax-exempt reserves | 132 | - | €315,750 | +€315,750 | |
| Distributable reserves | 133 | €1,301,163 | €1,484,360 | +€183,197 | +14.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €2,866,687 | €3,035,500 | +€168,813 | +5.9% |
| Amounts payable after more than one year | 17 | €1,018,683 | €1,171,832 | +€153,148 | +15.0% |
| Financial debts | 170/4 | €1,018,683 | €1,171,832 | +€153,148 | +15.0% |
| Amounts payable within one year | 42/48 | €1,798,437 | €1,848,667 | +€50,231 | +2.8% |
| Current portion of amounts payable after more than one year | 42 | €432,721 | €513,489 | +€80,768 | +18.7% |
| Financial debts | 43 | €256,693 | €128,705 | -€127,988 | -49.9% |
| Credit institutions | 430/8 | €256,693 | €71,077 | -€185,616 | -72.3% |
| Other loans | 439 | - | €57,628 | +€57,628 | |
| Trade debts | 44 | €256,066 | €197,556 | -€58,510 | -22.8% |
| Suppliers | 440/4 | €256,066 | €197,556 | -€58,510 | -22.8% |
| Advances received on contracts in progress | 46 | - | €74 | +€74 | |
| Taxes, remuneration and social security | 45 | €847,483 | €794,558 | -€52,925 | -6.2% |
| Taxes | 450/3 | €199,668 | €38,995 | -€160,673 | -80.5% |
| Remuneration and social security | 454/9 | €647,815 | €755,563 | +€107,748 | +16.6% |
| Other amounts payable | 47/48 | €5,473 | €214,286 | +€208,813 | +3,815% |
| Accrued charges and deferred income | 492/3 | €49,567 | €15,001 | -€34,566 | -69.7% |
| Remuneration, social security and pensions | 62 | €4,800,871 | €4,940,384 | +€139,513 | +2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €639,418 | €718,290 | +€78,872 | +12.3% |
| Other operating charges | 640/8 | €89,773 | €103,496 | +€13,724 | +15.3% |
| Non-recurring operating charges | 66A | €3,290 | €98,729 | +€95,438 | +2,900% |
| Gross operating margin | 9900 | €6,368,345 | €7,351,814 | +€983,470 | +15.4% |
| Operating profit (loss) | 9901 | €834,993 | €1,490,915 | +€655,922 | +78.6% |
| Financial income | 75/76B | €1,713 | €2,994 | +€1,280 | +74.7% |
| Recurring financial income | 75 | €1,713 | €2,994 | +€1,280 | +74.7% |
| Financial charges | 65/66B | €75,542 | €108,264 | +€32,723 | +43.3% |
| Recurring financial charges | 65 | €75,542 | €108,264 | +€32,723 | +43.3% |
| Profit (loss) for the period before taxes | 9903 | €761,165 | €1,385,645 | +€624,480 | +82.0% |
| Income taxes | 67/77 | €238,499 | €401,714 | +€163,215 | +68.4% |
| Profit (loss) for the period | 9904 | €522,666 | €983,930 | +€461,265 | +88.3% |
| Transfer to tax-exempt reserves | 689 | - | €315,750 | +€315,750 | |
| Profit (loss) for the period to be appropriated | 9905 | €522,666 | €668,180 | +€145,515 | +27.8% |
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 15 October 2026 via checked.be.