LED Visions: 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.
LED Visions
Largest movements
- Tangible fixed assets +€1.5m
up €1.5m (+61.1%), from €2.4m to €3.9m
of which Plant, machinery and equipment: +€1.7m
- Cash -€645,126
down €645,126 (-86.5%), from €745,916 to €100,791
mainly Investment in fixed assets (net) (-€2.6m) and Stocks and contracts (-€567,524)
- Stocks and contracts +€567,524
up €567,524 (+1,220%), from €46,511 to €614,035
- Receivables within one year +€272,090
up €272,090 (+33.9%), from €801,608 to €1.1m
of which Trade receivables: +€307,992
- Trade debts +€654,452
up €654,452 (+454%), from €144,296 to €798,748
- Debts after one year +€646,308
up €646,308 (+56.0%), from €1.2m to €1.8m
- Other debts -€503,471
down €503,471 (-65.9%), from €763,853 to €260,382
- Contributions +€500,000
up €500,000 (+5,556%), from €9,000 to €509,000
- Current portion of long-term debt +€390,225
up €390,225 (+114%), from €341,428 to €731,653
- Gross operating margin +€796,337
up €796,337 (+79.6%), from €999,807 to €1.8m
- Depreciation +€460,234
up €460,234 (+70.8%), from €650,137 to €1.1m
- Staff costs +€129,172
up €129,172 (+55.7%), from €232,019 to €361,191
- Financial income +€98,588
up €98,588 (+3,546%), from €2,780 to €101,368
- Financial charges +€44,773
up €44,773 (+56.2%), from €79,727 to €124,501
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 | €4,021,311 | €5,697,494 | +€1.7m | +41.7% |
| Fixed assets | 21/28 | €2,427,275 | €3,908,970 | +€1.5m | +61.0% |
| Tangible fixed assets | 22/27 | €2,423,643 | €3,904,888 | +€1.5m | +61.1% |
| Plant, machinery and equipment | 23 | €1,456,949 | €3,117,447 | +€1.7m | +114% |
| Furniture and vehicles | 24 | €52,175 | €36,283 | -€15,892 | -30.5% |
| Leasing and similar rights | 25 | €914,520 | €751,158 | -€163,362 | -17.9% |
| Financial fixed assets | 28 | €3,632 | €4,082 | +€450 | +12.4% |
| Current assets | 29/58 | €1,594,036 | €1,788,524 | +€194,489 | +12.2% |
| Stocks and contracts in progress | 3 | €46,511 | €614,035 | +€567,524 | +1,220% |
| Stocks | 30/36 | €46,511 | €614,035 | +€567,524 | +1,220% |
| Amounts receivable within one year | 40/41 | €801,608 | €1,073,698 | +€272,090 | +33.9% |
| Trade receivables | 40 | €603,551 | €911,543 | +€307,992 | +51.0% |
| Other amounts receivable | 41 | €198,057 | €162,155 | -€35,901 | -18.1% |
| Cash at bank and in hand | 54/58 | €745,916 | €100,791 | -€645,126 | -86.5% |
| Total equity and liabilities | 10/49 | €4,021,311 | €5,697,494 | +€1.7m | +41.7% |
| Equity | 10/15 | €704,351 | €1,426,697 | +€722,345 | +103% |
| Contributions | 10/11 | €9,000 | €509,000 | +€500,000 | +5,556% |
| Reserves | 13 | €9,500 | €9,500 | = | 0.0% |
| Distributable reserves | 133 | €9,500 | €9,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €685,852 | €908,197 | +€222,345 | +32.4% |
| Amounts payable | 17/49 | €3,316,960 | €4,270,798 | +€953,838 | +28.8% |
| Amounts payable after more than one year | 17 | €1,153,965 | €1,800,273 | +€646,308 | +56.0% |
| Financial debts | 170/4 | €1,153,965 | €1,800,273 | +€646,308 | +56.0% |
| Amounts payable within one year | 42/48 | €1,983,549 | €2,338,451 | +€354,903 | +17.9% |
| Current portion of amounts payable after more than one year | 42 | €341,428 | €731,653 | +€390,225 | +114% |
| Financial debts | 43 | €618,675 | €500,000 | -€118,675 | -19.2% |
| Other loans | 439 | €618,675 | €500,000 | -€118,675 | -19.2% |
| Trade debts | 44 | €144,296 | €798,748 | +€654,452 | +454% |
| Suppliers | 440/4 | €144,296 | €798,748 | +€654,452 | +454% |
| Taxes, remuneration and social security | 45 | €115,297 | €47,669 | -€67,628 | -58.7% |
| Taxes | 450/3 | €85,140 | €1,220 | -€83,920 | -98.6% |
| Remuneration and social security | 454/9 | €30,157 | €46,449 | +€16,292 | +54.0% |
| Other amounts payable | 47/48 | €763,853 | €260,382 | -€503,471 | -65.9% |
| Accrued charges and deferred income | 492/3 | €179,446 | €132,073 | -€47,373 | -26.4% |
| Remuneration, social security and pensions | 62 | €232,019 | €361,191 | +€129,172 | +55.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €650,137 | €1,110,371 | +€460,234 | +70.8% |
| Other operating charges | 640/8 | €35,233 | €78,074 | +€42,840 | +122% |
| Gross operating margin | 9900 | €999,807 | €1,796,144 | +€796,337 | +79.6% |
| Operating profit (loss) | 9901 | €82,418 | €246,508 | +€164,090 | +199% |
| Financial income | 75/76B | €2,780 | €101,368 | +€98,588 | +3,546% |
| Recurring financial income | 75 | €2,780 | €101,368 | +€98,588 | +3,546% |
| Financial charges | 65/66B | €79,727 | €124,501 | +€44,773 | +56.2% |
| Recurring financial charges | 65 | €79,727 | €124,501 | +€44,773 | +56.2% |
| Profit (loss) for the period before taxes | 9903 | €5,471 | €223,376 | +€217,904 | +3,983% |
| Income taxes | 67/77 | €116 | €1,031 | +€915 | +788% |
| Profit (loss) for the period | 9904 | €5,355 | €222,345 | +€216,990 | +4,052% |
| Profit (loss) for the period to be appropriated | 9905 | €5,355 | €222,345 | +€216,990 | +4,052% |
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 1 November 2026 via checked.be.