MARQUEE @VISORY: 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.
MARQUEE @VISORY
Largest movements
- Tangible fixed assets +€72,853
up €72,853 (+41.7%), from €174,664 to €247,517
of which Furniture and vehicles: +€73,218
- Current investments -€19,223
down €19,223 (-15.9%), from €121,250 to €102,027
- Cash -€11,090
down €11,090 (-68.5%), from €16,181 to €5,091
mainly Investment in fixed assets (net) (-€125,819) and Tax, wage and social debts (-€5,581)
- Deferred charges and accrued income +€3,851
up €3,851 (+50.4%), from €7,647 to €11,499
- Reserves +€46,744
up €46,744 (+17.8%), from €263,012 to €309,756
- Debts after one year +€10,491
up €10,491 (+43.0%), from €24,427 to €34,918
- Tax, wage and social debts -€5,581
down €5,581 (-34.9%), from €15,996 to €10,416
- Financial income +€6,778
up €6,778 (+1,754%), from €386 to €7,165
- Gross operating margin +€2,792
up €2,792 (+2.5%), from €112,053 to €114,845
- Financial charges +€1,271
up €1,271 (+85.6%), from €1,485 to €2,757
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 | €335,350 | €384,333 | +€48,983 | +14.6% |
| Fixed assets | 21/28 | €174,664 | €247,517 | +€72,853 | +41.7% |
| Tangible fixed assets | 22/27 | €174,664 | €247,517 | +€72,853 | +41.7% |
| Plant, machinery and equipment | 23 | €904 | €538 | -€366 | -40.5% |
| Furniture and vehicles | 24 | €173,760 | €246,979 | +€73,218 | +42.1% |
| Current assets | 29/58 | €160,686 | €136,816 | -€23,870 | -14.9% |
| Amounts receivable within one year | 40/41 | €15,608 | €18,200 | +€2,592 | +16.6% |
| Trade receivables | 40 | €15,594 | €15,763 | +€169 | +1.1% |
| Other amounts receivable | 41 | €14 | €2,437 | +€2,423 | +17,110% |
| Current investments | 50/53 | €121,250 | €102,027 | -€19,223 | -15.9% |
| Cash at bank and in hand | 54/58 | €16,181 | €5,091 | -€11,090 | -68.5% |
| Deferred charges and accrued income | 490/1 | €7,647 | €11,499 | +€3,851 | +50.4% |
| Total equity and liabilities | 10/49 | €335,350 | €384,333 | +€48,983 | +14.6% |
| Equity | 10/15 | €264,012 | €310,756 | +€46,744 | +17.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €263,012 | €309,756 | +€46,744 | +17.8% |
| Distributable reserves | 133 | €263,012 | €309,756 | +€46,744 | +17.8% |
| Amounts payable | 17/49 | €71,338 | €73,577 | +€2,239 | +3.1% |
| Amounts payable after more than one year | 17 | €24,427 | €34,918 | +€10,491 | +43.0% |
| Financial debts | 170/4 | €24,427 | €34,918 | +€10,491 | +43.0% |
| Amounts payable within one year | 42/48 | €39,732 | €34,837 | -€4,895 | -12.3% |
| Current portion of amounts payable after more than one year | 42 | €17,953 | €20,881 | +€2,928 | +16.3% |
| Financial debts | 43 | €72 | €562 | +€490 | +681% |
| Credit institutions | 430/8 | €72 | €562 | +€490 | +681% |
| Trade debts | 44 | €3,655 | €2,145 | -€1,510 | -41.3% |
| Suppliers | 440/4 | €3,655 | €2,145 | -€1,510 | -41.3% |
| Taxes, remuneration and social security | 45 | €15,996 | €10,416 | -€5,581 | -34.9% |
| Taxes | 450/3 | €15,996 | €10,416 | -€5,581 | -34.9% |
| Other amounts payable | 47/48 | €2,055 | €833 | -€1,222 | -59.5% |
| Accrued charges and deferred income | 492/3 | €7,180 | €3,822 | -€3,357 | -46.8% |
| Non-recurring operating income | 76A | - | €3,549 | +€3,549 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,900 | €52,966 | +€1,066 | +2.1% |
| Other operating charges | 640/8 | €1,250 | €1,198 | -€52 | -4.1% |
| Gross operating margin | 9900 | €112,053 | €114,845 | +€2,792 | +2.5% |
| Operating profit (loss) | 9901 | €58,904 | €60,681 | +€1,777 | +3.0% |
| Financial income | 75/76B | €386 | €7,165 | +€6,778 | +1,754% |
| Recurring financial income | 75 | €386 | €7,165 | +€6,778 | +1,754% |
| Financial charges | 65/66B | €1,485 | €2,757 | +€1,271 | +85.6% |
| Recurring financial charges | 65 | €1,485 | €2,757 | +€1,271 | +85.6% |
| Profit (loss) for the period before taxes | 9903 | €57,805 | €65,089 | +€7,284 | +12.6% |
| Income taxes | 67/77 | €16,550 | €17,512 | +€962 | +5.8% |
| Profit (loss) for the period | 9904 | €41,254 | €47,577 | +€6,322 | +15.3% |
| Profit (loss) for the period to be appropriated | 9905 | €41,254 | €47,577 | +€6,322 | +15.3% |
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.