Another Vision: 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.
Another Vision
Largest movements
- Cash -€91,931
down €91,931 (-14.9%), from €617,990 to €526,059
mainly Other debts (-€144,659) and Current investments (-€67,173)
- Current investments +€67,173
up €67,173 (+15.1%), from €444,796 to €511,969
- Receivables after one year +€24,396
up €24,396 (+173.0%), from €14,104 to €38,500
of which Other amounts receivable: +€38,500
- Reserves +€163,698
up €163,698 (+9.9%), from €1.7m to €1.8m
- Other debts -€144,659
down €144,659 (-100.0%), from €144,659 to €0
- Financial income +€7,947
up €7,947 (+70.9%), from €11,213 to €19,160
of which Financial income: +€7,947
- Gross operating margin -€5,682
down €5,682 (-2.4%), from €237,336 to €231,655
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 | €1,933,051 | €1,939,506 | +€6,454 | +0.3% |
| Fixed assets | 21/28 | €698,211 | €688,332 | -€9,880 | -1.4% |
| Tangible fixed assets | 22/27 | €10,803 | €924 | -€9,880 | -91.5% |
| Plant, machinery and equipment | 23 | €70 | €0 | -€70 | -100.0% |
| Furniture and vehicles | 24 | €10,734 | €924 | -€9,810 | -91.4% |
| Financial fixed assets | 28 | €687,408 | €687,408 | = | 0.0% |
| Current assets | 29/58 | €1,234,840 | €1,251,174 | +€16,334 | +1.3% |
| Amounts receivable after more than one year | 29 | €14,104 | €38,500 | +€24,396 | +173.0% |
| Trade receivables | 290 | €14,104 | €0 | -€14,104 | -100.0% |
| Other amounts receivable | 291 | - | €38,500 | +€38,500 | |
| Amounts receivable within one year | 40/41 | €153,309 | €170,755 | +€17,446 | +11.4% |
| Trade receivables | 40 | €18,458 | €34,240 | +€15,782 | +85.5% |
| Other amounts receivable | 41 | €134,851 | €136,515 | +€1,664 | +1.2% |
| Current investments | 50/53 | €444,796 | €511,969 | +€67,173 | +15.1% |
| Cash at bank and in hand | 54/58 | €617,990 | €526,059 | -€91,931 | -14.9% |
| Deferred charges and accrued income | 490/1 | €4,640 | €3,890 | -€750 | -16.2% |
| Total equity and liabilities | 10/49 | €1,933,051 | €1,939,506 | +€6,454 | +0.3% |
| Equity | 10/15 | €1,692,116 | €1,855,815 | +€163,698 | +9.7% |
| Contributions | 10/11 | €37,150 | €37,150 | = | 0.0% |
| Reserves | 13 | €1,654,966 | €1,818,665 | +€163,698 | +9.9% |
| Distributable reserves | 133 | €1,654,966 | €1,818,665 | +€163,698 | +9.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €240,935 | €83,691 | -€157,244 | -65.3% |
| Amounts payable after more than one year | 17 | €56,263 | €41,627 | -€14,637 | -26.0% |
| Financial debts | 170/4 | €56,263 | €41,627 | -€14,637 | -26.0% |
| Amounts payable within one year | 42/48 | €184,671 | €42,064 | -€142,607 | -77.2% |
| Current portion of amounts payable after more than one year | 42 | €14,134 | €14,637 | +€503 | +3.6% |
| Trade debts | 44 | €169 | €1,596 | +€1,427 | +842.6% |
| Suppliers | 440/4 | €169 | €1,596 | +€1,427 | +842.6% |
| Taxes, remuneration and social security | 45 | €25,710 | €25,831 | +€122 | +0.5% |
| Taxes | 450/3 | €25,710 | €25,831 | +€122 | +0.5% |
| Other amounts payable | 47/48 | €144,659 | €0 | -€144,659 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,216 | €9,880 | -€336 | -3.3% |
| Other operating charges | 640/8 | €1,814 | €1,962 | +€148 | +8.1% |
| Gross operating margin | 9900 | €237,336 | €231,655 | -€5,682 | -2.4% |
| Operating profit (loss) | 9901 | €225,306 | €219,813 | -€5,493 | -2.4% |
| Financial income | 75/76B | €11,213 | €19,160 | +€7,947 | +70.9% |
| Recurring financial income | 75 | €11,213 | €19,160 | +€7,947 | +70.9% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €1,680 | €3,712 | +€2,032 | +120.9% |
| Recurring financial charges | 65 | €1,680 | €3,712 | +€2,032 | +120.9% |
| Profit (loss) for the period before taxes | 9903 | €234,840 | €235,262 | +€422 | +0.2% |
| Income taxes | 67/77 | €70,091 | €71,563 | +€1,472 | +2.1% |
| Profit (loss) for the period | 9904 | €164,748 | €163,698 | -€1,050 | -0.6% |
| Profit (loss) for the period to be appropriated | 9905 | €164,748 | €163,698 | -€1,050 | -0.6% |
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 9 October 2026 via checked.be.