DE VISIONAIR: 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.
DE VISIONAIR
Largest movements
- Tangible fixed assets -€625,145
down €625,145 (-27.0%), from €2.3m to €1.7m
of which Land and buildings: -€563,064
- Cash +€95,754
up €95,754 (+467%), from €20,515 to €116,270
mainly Investment in fixed assets (net) (+€488,985) and Net result for the year (+€208,906)
- Debts after one year -€519,176
down €519,176 (-46.2%), from €1.1m to €604,182
- Other debts -€233,457
down €233,457 (-30.0%), from €776,945 to €543,489
- Reserves +€202,906
up €202,906 (+79.6%), from €254,907 to €457,813
of which Distributable reserves: +€207,475
- Tax, wage and social debts +€34,996
up €34,996 (+1,015%), from €3,446 to €38,442
- Current portion of long-term debt -€31,795
down €31,795 (-17.8%), from €178,511 to €146,715
- Gross operating margin +€271,291
up €271,291 (+144%), from €188,119 to €459,410
- Taxes +€55,259
new in 2025: €55,259
- Depreciation -€25,875
down €25,875 (-15.7%), from €164,776 to €138,901
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 | €2,403,572 | €1,854,810 | -€548,763 | -22.8% |
| Fixed assets | 21/28 | €2,325,089 | €1,697,204 | -€627,886 | -27.0% |
| Intangible fixed assets | 21 | €8,109 | €5,868 | -€2,241 | -27.6% |
| Tangible fixed assets | 22/27 | €2,316,480 | €1,691,335 | -€625,145 | -27.0% |
| Land and buildings | 22 | €2,039,011 | €1,475,948 | -€563,064 | -27.6% |
| Plant, machinery and equipment | 23 | €199,280 | €143,976 | -€55,303 | -27.8% |
| Furniture and vehicles | 24 | €78,190 | €71,412 | -€6,778 | -8.7% |
| Financial fixed assets | 28 | €500 | - | -€500 | |
| Current assets | 29/58 | €78,483 | €157,606 | +€79,123 | +101% |
| Amounts receivable within one year | 40/41 | €49,266 | €34,832 | -€14,434 | -29.3% |
| Trade receivables | 40 | €4,167 | €4,167 | = | 0.0% |
| Other amounts receivable | 41 | €45,099 | €30,665 | -€14,434 | -32.0% |
| Cash at bank and in hand | 54/58 | €20,515 | €116,270 | +€95,754 | +467% |
| Deferred charges and accrued income | 490/1 | €8,702 | €6,504 | -€2,198 | -25.3% |
| Total equity and liabilities | 10/49 | €2,403,572 | €1,854,810 | -€548,763 | -22.8% |
| Equity | 10/15 | €282,179 | €485,085 | +€202,906 | +71.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €8,672 | €8,672 | = | 0.0% |
| Reserves | 13 | €254,907 | €457,813 | +€202,906 | +79.6% |
| Tax-exempt reserves | 132 | €132,108 | €127,538 | -€4,569 | -3.5% |
| Distributable reserves | 133 | €122,799 | €330,275 | +€207,475 | +169% |
| Provisions and deferred taxes | 16 | €38,189 | €36,666 | -€1,523 | -4.0% |
| Deferred taxes | 168 | €38,189 | €36,666 | -€1,523 | -4.0% |
| Amounts payable | 17/49 | €2,083,205 | €1,333,059 | -€750,145 | -36.0% |
| Amounts payable after more than one year | 17 | €1,123,358 | €604,182 | -€519,176 | -46.2% |
| Financial debts | 170/4 | €1,123,358 | €604,182 | -€519,176 | -46.2% |
| Amounts payable within one year | 42/48 | €959,847 | €728,877 | -€230,970 | -24.1% |
| Current portion of amounts payable after more than one year | 42 | €178,511 | €146,715 | -€31,795 | -17.8% |
| Trade debts | 44 | €945 | €231 | -€714 | -75.5% |
| Suppliers | 440/4 | €945 | €231 | -€714 | -75.5% |
| Taxes, remuneration and social security | 45 | €3,446 | €38,442 | +€34,996 | +1,015% |
| Taxes | 450/3 | €3,446 | €38,442 | +€34,996 | +1,015% |
| Other amounts payable | 47/48 | €776,945 | €543,489 | -€233,457 | -30.0% |
| Non-recurring operating income | 76A | €1,419 | €126,679 | +€125,259 | +8,825% |
| Remuneration, social security and pensions | 62 | €4,065 | - | -€4,065 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €164,776 | €138,901 | -€25,875 | -15.7% |
| Other operating charges | 640/8 | €5,665 | €7,608 | +€1,944 | +34.3% |
| Non-recurring operating charges | 66A | - | €8,520 | +€8,520 | |
| Gross operating margin | 9900 | €188,119 | €459,410 | +€271,291 | +144% |
| Operating profit (loss) | 9901 | €13,613 | €304,381 | +€290,768 | +2,136% |
| Financial income | 75/76B | €78 | €80 | +€2 | +2.7% |
| Recurring financial income | 75 | €78 | €80 | +€2 | +2.7% |
| Financial charges | 65/66B | €45,993 | €41,819 | -€4,174 | -9.1% |
| Recurring financial charges | 65 | €45,993 | €41,819 | -€4,174 | -9.1% |
| Profit (loss) for the period before taxes | 9903 | -€32,302 | €262,642 | +€294,944 | |
| Transfer from deferred taxes | 780 | €1,523 | €1,523 | = | 0.0% |
| Income taxes | 67/77 | - | €55,259 | +€55,259 | |
| Profit (loss) for the period | 9904 | -€30,779 | €208,906 | +€239,685 | |
| Transfer from tax-exempt reserves | 789 | €4,569 | €4,569 | -€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€26,209 | €213,475 | +€239,685 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.