C. VISION: 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.
C. VISION
Largest movements
- Tangible fixed assets -€7,329
down €7,329 (-86.5%), from €8,471 to €1,142
of which Furniture and vehicles: -€6,235
- Stocks and contracts -€3,527
down €3,527 (-13.9%), from €25,352 to €21,825
- Cash +€842
up €842 (+58.7%), from €1,435 to €2,278
mainly Investment in fixed assets (net) (+€6,235) and Stocks and contracts (+€3,527)
- Receivables within one year -€840
down €840 (-99.4%), from €845 to €5
- Other debts -€9,720
down €9,720 (-97.0%), from €10,021 to €300
- Reserves +€2,227
up €2,227 (+83.1%), from €2,680 to €4,907
- Current portion of long-term debt -€1,597
no longer reported in 2025 (was €1,597)
- Trade debts -€1,248
down €1,248 (-95.5%), from €1,308 to €60
- Tax, wage and social debts -€609
down €609 (-21.3%), from €2,863 to €2,254
of which Remuneration and social security: -€601
- Gross operating margin +€13,161
up €13,161, from -€8,539 to €4,622
- Depreciation -€4,981
down €4,981 (-82.0%), from €6,075 to €1,094
- Staff costs -€4,468
no longer reported in 2025 (was €4,468)
- Financial income -€2,725
down €2,725 (-75.9%), from €3,590 to €866
of which Non-recurring financial income: -€3,590
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 | €37,118 | €26,170 | -€10,948 | -29.5% |
| Fixed assets | 21/28 | €9,391 | €2,062 | -€7,329 | -78.0% |
| Tangible fixed assets | 22/27 | €8,471 | €1,142 | -€7,329 | -86.5% |
| Plant, machinery and equipment | 23 | €2,236 | €1,142 | -€1,094 | -48.9% |
| Furniture and vehicles | 24 | €6,235 | - | -€6,235 | |
| Financial fixed assets | 28 | €920 | €920 | = | 0.0% |
| Current assets | 29/58 | €27,727 | €24,108 | -€3,619 | -13.1% |
| Stocks and contracts in progress | 3 | €25,352 | €21,825 | -€3,527 | -13.9% |
| Stocks | 30/36 | €25,352 | €21,825 | -€3,527 | -13.9% |
| Amounts receivable within one year | 40/41 | €845 | €5 | -€840 | -99.4% |
| Other amounts receivable | 41 | €845 | €5 | -€840 | -99.4% |
| Cash at bank and in hand | 54/58 | €1,435 | €2,278 | +€842 | +58.7% |
| Deferred charges and accrued income | 490/1 | €96 | - | -€96 | |
| Total equity and liabilities | 10/49 | €37,118 | €26,170 | -€10,948 | -29.5% |
| Equity | 10/15 | €21,330 | €23,557 | +€2,227 | +10.4% |
| Contributions | 10/11 | €18,650 | €18,650 | = | 0.0% |
| Reserves | 13 | €2,680 | €4,907 | +€2,227 | +83.1% |
| Distributable reserves | 133 | €2,680 | €4,907 | +€2,227 | +83.1% |
| Amounts payable | 17/49 | €15,789 | €2,613 | -€13,175 | -83.4% |
| Amounts payable within one year | 42/48 | €15,789 | €2,613 | -€13,175 | -83.4% |
| Current portion of amounts payable after more than one year | 42 | €1,597 | - | -€1,597 | |
| Trade debts | 44 | €1,308 | €60 | -€1,248 | -95.5% |
| Suppliers | 440/4 | €1,308 | €60 | -€1,248 | -95.5% |
| Taxes, remuneration and social security | 45 | €2,863 | €2,254 | -€609 | -21.3% |
| Taxes | 450/3 | €2,262 | €2,254 | -€8 | -0.4% |
| Remuneration and social security | 454/9 | €601 | - | -€601 | |
| Other amounts payable | 47/48 | €10,021 | €300 | -€9,720 | -97.0% |
| Remuneration, social security and pensions | 62 | €4,468 | - | -€4,468 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,075 | €1,094 | -€4,981 | -82.0% |
| Other operating charges | 640/8 | €714 | €678 | -€36 | -5.1% |
| Non-recurring operating charges | 66A | - | €1,257 | +€1,257 | |
| Gross operating margin | 9900 | -€8,539 | €4,622 | +€13,161 | |
| Operating profit (loss) | 9901 | -€19,796 | €1,592 | +€21,389 | |
| Financial income | 75/76B | €3,590 | €866 | -€2,725 | -75.9% |
| Recurring financial income | 75 | €3,590 | €866 | -€2,725 | -75.9% |
| Non-recurring financial income | 76B | €3,590 | - | -€3,590 | |
| Financial charges | 65/66B | €167 | €101 | -€66 | -39.7% |
| Recurring financial charges | 65 | €167 | €101 | -€66 | -39.7% |
| Profit (loss) for the period before taxes | 9903 | -€16,373 | €2,357 | +€18,731 | |
| Income taxes | 67/77 | €185 | €130 | -€55 | -29.5% |
| Profit (loss) for the period | 9904 | -€16,558 | €2,227 | +€18,785 | |
| Profit (loss) for the period to be appropriated | 9905 | -€16,558 | €2,227 | +€18,785 |
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.