iVisual: 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.
iVisual
Largest movements
- Intangible fixed assets +€84,955
up €84,955 (+21.5%), from €395,667 to €480,622
- Receivables within one year -€25,303
down €25,303 (-50.6%), from €49,974 to €24,670
of which Other amounts receivable: -€18,739
- Deferred charges and accrued income -€17,452
down €17,452 (-99.3%), from €17,579 to €127
- Stocks and contracts -€16,204
down €16,204 (-55.2%), from €29,365 to €13,161
- Cash -€9,399
down €9,399 (-31.6%), from €29,751 to €20,351
mainly Net result for the year (-€251,285) and Investment in fixed assets (net) (-€169,549)
- Profit (loss) carried forward -€251,285
down €251,285 (-534%), from -€47,087 to -€298,372
- Debts after one year +€126,406
new in 2025: €126,406
- Trade debts +€123,114
up €123,114 (+92.3%), from €133,370 to €256,483
- Other debts +€118,435
up €118,435 (+1,795%), from €6,596 to €125,031
- Accrued charges and deferred income -€82,778
down €82,778 (-100%), from €82,778 to €0
- Gross operating margin -€237,705
down €237,705, from €186,040 to -€51,665
- Staff costs -€103,866
down €103,866 (-56.0%), from €185,347 to €81,481
- Depreciation +€40,379
up €40,379 (+91.3%), from €44,215 to €84,594
- Write-downs +€16,204
new in 2025: €16,204
- Financial charges +€10,244
up €10,244 (+624%), from €1,642 to €11,886
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 | €522,336 | €538,933 | +€16,596 | +3.2% |
| Fixed assets | 21/28 | €395,667 | €480,622 | +€84,955 | +21.5% |
| Intangible fixed assets | 21 | €395,667 | €480,622 | +€84,955 | +21.5% |
| Current assets | 29/58 | €126,669 | €58,310 | -€68,358 | -54.0% |
| Stocks and contracts in progress | 3 | €29,365 | €13,161 | -€16,204 | -55.2% |
| Stocks | 30/36 | €29,365 | €13,161 | -€16,204 | -55.2% |
| Amounts receivable within one year | 40/41 | €49,974 | €24,670 | -€25,303 | -50.6% |
| Trade receivables | 40 | €21,469 | €14,905 | -€6,564 | -30.6% |
| Other amounts receivable | 41 | €28,505 | €9,765 | -€18,739 | -65.7% |
| Cash at bank and in hand | 54/58 | €29,751 | €20,351 | -€9,399 | -31.6% |
| Deferred charges and accrued income | 490/1 | €17,579 | €127 | -€17,452 | -99.3% |
| Total equity and liabilities | 10/49 | €522,336 | €538,933 | +€16,596 | +3.2% |
| Equity | 10/15 | €257,913 | €6,628 | -€251,285 | -97.4% |
| Contributions | 10/11 | €305,000 | €305,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€47,087 | -€298,372 | -€251,285 | -534% |
| Amounts payable | 17/49 | €264,424 | €532,304 | +€267,881 | +101% |
| Amounts payable after more than one year | 17 | - | €126,406 | +€126,406 | |
| Financial debts | 170/4 | - | €126,406 | +€126,406 | |
| Amounts payable within one year | 42/48 | €181,646 | €405,898 | +€224,252 | +123% |
| Trade debts | 44 | €133,370 | €256,483 | +€123,114 | +92.3% |
| Suppliers | 440/4 | €133,370 | €256,483 | +€123,114 | +92.3% |
| Taxes, remuneration and social security | 45 | €41,679 | €24,383 | -€17,296 | -41.5% |
| Taxes | 450/3 | €11,159 | €3,378 | -€7,781 | -69.7% |
| Remuneration and social security | 454/9 | €30,520 | €21,005 | -€9,515 | -31.2% |
| Other amounts payable | 47/48 | €6,596 | €125,031 | +€118,435 | +1,795% |
| Accrued charges and deferred income | 492/3 | €82,778 | €0 | -€82,778 | -100% |
| Non-recurring operating income | 76A | €180,000 | €0 | -€180,000 | -100% |
| Remuneration, social security and pensions | 62 | €185,347 | €81,481 | -€103,866 | -56.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,215 | €84,594 | +€40,379 | +91.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €16,204 | +€16,204 | |
| Other operating charges | 640/8 | €1,931 | €5,458 | +€3,527 | +183% |
| Gross operating margin | 9900 | €186,040 | -€51,665 | -€237,705 | |
| Operating profit (loss) | 9901 | -€45,453 | -€239,402 | -€193,949 | -427% |
| Financial income | 75/76B | €21 | €3 | -€18 | -85.9% |
| Recurring financial income | 75 | €21 | €3 | -€18 | -85.9% |
| Financial charges | 65/66B | €1,642 | €11,886 | +€10,244 | +624% |
| Recurring financial charges | 65 | €1,642 | €11,886 | +€10,244 | +624% |
| Profit (loss) for the period before taxes | 9903 | -€47,075 | -€251,285 | -€204,210 | -434% |
| Income taxes | 67/77 | €12 | €0 | -€12 | -100% |
| Profit (loss) for the period | 9904 | -€47,087 | -€251,285 | -€204,198 | -434% |
| Profit (loss) for the period to be appropriated | 9905 | -€47,087 | -€251,285 | -€204,198 | -434% |
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.