ENVISION: 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.
ENVISION
Largest movements
- Receivables within one year -€33,865
down €33,865 (-25.7%), from €131,819 to €97,954
of which Trade receivables: -€30,093
- Deferred charges and accrued income -€4,871
down €4,871 (-58.3%), from €8,353 to €3,482
- Cash -€2,208
down €2,208 (-4.0%), from €55,487 to €53,279
mainly Contributions, distributions and other (-€94,593) and Trade debts (-€8,793)
- Reserves -€60,000
no longer reported in 2025 (was €60,000)
- Other debts +€28,017
up €28,017 (+22.9%), from €122,482 to €150,499
- Trade debts -€8,793
down €8,793 (-98.1%), from €8,967 to €174
- Gross operating margin -€82,188
down €82,188 (-64.7%), from €126,998 to €44,809
- Financial charges -€78,931
down €78,931 (-99.5%), from €79,306 to €375
- Staff costs -€13,517
no longer reported in 2025 (was €13,517)
- Taxes +€2,059
up €2,059 (+29.8%), from €6,907 to €8,966
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 | €202,029 | €161,671 | -€40,358 | -20.0% |
| Fixed assets | 21/28 | €6,370 | €6,955 | +€585 | +9.2% |
| Tangible fixed assets | 22/27 | - | €585 | +€585 | |
| Furniture and vehicles | 24 | - | €585 | +€585 | |
| Financial fixed assets | 28 | €6,370 | €6,370 | = | 0.0% |
| Current assets | 29/58 | €195,659 | €154,715 | -€40,944 | -20.9% |
| Amounts receivable within one year | 40/41 | €131,819 | €97,954 | -€33,865 | -25.7% |
| Trade receivables | 40 | €120,150 | €90,057 | -€30,093 | -25.0% |
| Other amounts receivable | 41 | €11,669 | €7,897 | -€3,771 | -32.3% |
| Cash at bank and in hand | 54/58 | €55,487 | €53,279 | -€2,208 | -4.0% |
| Deferred charges and accrued income | 490/1 | €8,353 | €3,482 | -€4,871 | -58.3% |
| Total equity and liabilities | 10/49 | €202,029 | €161,671 | -€40,358 | -20.0% |
| Equity | 10/15 | €61,125 | €1,000 | -€60,125 | -98.4% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €60,000 | - | -€60,000 | |
| Distributable reserves | 133 | €60,000 | - | -€60,000 | |
| Profit (loss) carried forward | 14 | €125 | - | -€125 | |
| Amounts payable | 17/49 | €140,903 | €160,671 | +€19,767 | +14.0% |
| Amounts payable within one year | 42/48 | €140,903 | €158,871 | +€17,967 | +12.8% |
| Trade debts | 44 | €8,967 | €174 | -€8,793 | -98.1% |
| Suppliers | 440/4 | €8,967 | €174 | -€8,793 | -98.1% |
| Taxes, remuneration and social security | 45 | €9,454 | €8,197 | -€1,257 | -13.3% |
| Taxes | 450/3 | - | €8,197 | +€8,197 | |
| Remuneration and social security | 454/9 | €9,454 | - | -€9,454 | |
| Other amounts payable | 47/48 | €122,482 | €150,499 | +€28,017 | +22.9% |
| Accrued charges and deferred income | 492/3 | - | €1,800 | +€1,800 | |
| Remuneration, social security and pensions | 62 | €13,517 | - | -€13,517 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €153 | +€153 | |
| Other operating charges | 640/8 | €4 | €848 | +€844 | +20481.1% |
| Gross operating margin | 9900 | €126,998 | €44,809 | -€82,188 | -64.7% |
| Operating profit (loss) | 9901 | €113,477 | €43,808 | -€69,668 | -61.4% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €79,306 | €375 | -€78,931 | -99.5% |
| Recurring financial charges | 65 | €79,306 | €375 | -€78,931 | -99.5% |
| Profit (loss) for the period before taxes | 9903 | €34,171 | €43,434 | +€9,263 | +27.1% |
| Income taxes | 67/77 | €6,907 | €8,966 | +€2,059 | +29.8% |
| Profit (loss) for the period | 9904 | €27,264 | €34,468 | +€7,204 | +26.4% |
| Profit (loss) for the period to be appropriated | 9905 | €27,264 | €34,468 | +€7,204 | +26.4% |
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 8 October 2026 via checked.be.