PIXELVISION: what changed
PIXELVISION
Largest movements
- Intangible fixed assets +€132,465
up €132,465 (+38.7%), from €342,306 to €474,772
- Deferred charges and accrued income -€41,252
no longer reported in 2025 (was €41,252)
- Cash +€34,446
new in 2025: €34,446
mainly Other debts (+€165,202) and Debts after one year (+€159,508)
- Receivables within one year -€24,236
down €24,236 (-18.5%), from €130,857 to €106,621
of which Trade receivables: -€50,085
- Other debts +€165,202
up €165,202 (+238%), from €69,283 to €234,485
- Debts after one year +€159,508
new in 2025: €159,508
- Profit (loss) carried forward -€87,969
down €87,969 (-52.0%), from €169,138 to €81,169
- Trade debts -€86,962
down €86,962 (-69.9%), from €124,419 to €37,458
- Short-term financial debts -€40,231
down €40,231 (-66.1%), from €60,886 to €20,654
- Gross operating margin -€192,845
down €192,845 (-53.2%), from €362,794 to €169,949
- Depreciation +€34,074
up €34,074 (+61.5%), from €55,387 to €89,461
- Other operating charges -€32,009
down €32,009 (-99.1%), from €32,287 to €278
- Financial income +€15,797
up €15,797 (+5,211%), from €303 to €16,100
of which Non-recurring financial income: +€15,980
- Financial charges +€5,270
up €5,270 (+73.4%), from €7,184 to €12,454
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €526,422 | €630,796 | +€104,374 | +19.8% |
| Fixed assets | 21/28 | €350,302 | €480,940 | +€130,638 | +37.3% |
| Intangible fixed assets | 21 | €342,306 | €474,772 | +€132,465 | +38.7% |
| Tangible fixed assets | 22/27 | €3,796 | €1,968 | -€1,828 | -48.1% |
| Plant, machinery and equipment | 23 | €3,796 | €1,968 | -€1,828 | -48.1% |
| Financial fixed assets | 28 | €4,200 | €4,200 | = | 0.0% |
| Current assets | 29/58 | €176,119 | €149,856 | -€26,263 | -14.9% |
| Stocks and contracts in progress | 3 | €4,010 | €8,789 | +€4,779 | +119% |
| Stocks | 30/36 | €4,010 | €8,789 | +€4,779 | +119% |
| Amounts receivable within one year | 40/41 | €130,857 | €106,621 | -€24,236 | -18.5% |
| Trade receivables | 40 | €120,458 | €70,373 | -€50,085 | -41.6% |
| Other amounts receivable | 41 | €10,399 | €36,248 | +€25,849 | +249% |
| Cash at bank and in hand | 54/58 | - | €34,446 | +€34,446 | |
| Deferred charges and accrued income | 490/1 | €41,252 | - | -€41,252 | |
| Total equity and liabilities | 10/49 | €526,422 | €630,796 | +€104,374 | +19.8% |
| Equity | 10/15 | €230,338 | €142,369 | -€87,969 | -38.2% |
| Contributions | 10/11 | €61,200 | €61,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €169,138 | €81,169 | -€87,969 | -52.0% |
| Amounts payable | 17/49 | €296,084 | €488,427 | +€192,343 | +65.0% |
| Amounts payable after more than one year | 17 | - | €159,508 | +€159,508 | |
| Financial debts | 170/4 | - | €159,508 | +€159,508 | |
| Amounts payable within one year | 42/48 | €254,855 | €298,094 | +€43,239 | +17.0% |
| Current portion of amounts payable after more than one year | 42 | - | €5,492 | +€5,492 | |
| Financial debts | 43 | €60,886 | €20,654 | -€40,231 | -66.1% |
| Credit institutions | 430/8 | €60,886 | €20,654 | -€40,231 | -66.1% |
| Trade debts | 44 | €124,419 | €37,458 | -€86,962 | -69.9% |
| Suppliers | 440/4 | €124,419 | €37,458 | -€86,962 | -69.9% |
| Taxes, remuneration and social security | 45 | €267 | €5 | -€263 | -98.2% |
| Taxes | 450/3 | €267 | €5 | -€263 | -98.2% |
| Other amounts payable | 47/48 | €69,283 | €234,485 | +€165,202 | +238% |
| Accrued charges and deferred income | 492/3 | €41,229 | €30,825 | -€10,404 | -25.2% |
| Remuneration, social security and pensions | 62 | €167,193 | €171,825 | +€4,632 | +2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,387 | €89,461 | +€34,074 | +61.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,188 | - | -€1,188 | |
| Other operating charges | 640/8 | €32,287 | €278 | -€32,009 | -99.1% |
| Gross operating margin | 9900 | €362,794 | €169,949 | -€192,845 | -53.2% |
| Operating profit (loss) | 9901 | €106,739 | -€91,615 | -€198,354 | |
| Financial income | 75/76B | €303 | €16,100 | +€15,797 | +5,211% |
| Recurring financial income | 75 | €303 | €120 | -€183 | -60.4% |
| Non-recurring financial income | 76B | - | €15,980 | +€15,980 | |
| Financial charges | 65/66B | €7,184 | €12,454 | +€5,270 | +73.4% |
| Recurring financial charges | 65 | €7,184 | €12,454 | +€5,270 | +73.4% |
| Profit (loss) for the period before taxes | 9903 | €99,858 | -€87,969 | -€187,827 | |
| Profit (loss) for the period | 9904 | €99,858 | -€87,969 | -€187,827 | |
| Profit (loss) for the period to be appropriated | 9905 | €99,858 | -€87,969 | -€187,827 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.