TRI-VIZOR: 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.
TRI-VIZOR
Largest movements
- Current investments +€105,572
up €105,572 (+26.4%), from €400,640 to €506,211
- Cash +€67,162
up €67,162 (+30.8%), from €218,262 to €285,425
mainly Net result for the year (+€160,343) and Receivables within one year (+€31,717)
- Receivables within one year -€31,717
down €31,717 (-45.4%), from €69,788 to €38,072
of which Trade receivables: -€31,368
- Reserves +€160,343
up €160,343 (+33.7%), from €475,366 to €635,709
of which Distributable reserves: +€160,343
- Trade debts -€30,600
down €30,600 (-93.0%), from €32,914 to €2,314
- Accrued charges and deferred income +€11,581
up €11,581 (+17719.2%), from €65 to €11,647
- Gross operating margin +€34,186
up €34,186 (+21.2%), from €161,511 to €195,697
- Financial income +€2,061
up €2,061 (+12.1%), from €16,970 to €19,031
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 | €693,815 | €835,027 | +€141,212 | +20.4% |
| Fixed assets | 21/28 | €4,907 | €4,607 | -€300 | -6.1% |
| Tangible fixed assets | 22/27 | €318 | €18 | -€300 | -94.3% |
| Plant, machinery and equipment | 23 | €318 | €18 | -€300 | -94.3% |
| Financial fixed assets | 28 | €4,589 | €4,589 | = | 0.0% |
| Current assets | 29/58 | €688,908 | €830,420 | +€141,512 | +20.5% |
| Amounts receivable within one year | 40/41 | €69,788 | €38,072 | -€31,717 | -45.4% |
| Trade receivables | 40 | €47,511 | €16,143 | -€31,368 | -66.0% |
| Other amounts receivable | 41 | €22,277 | €21,929 | -€349 | -1.6% |
| Current investments | 50/53 | €400,640 | €506,211 | +€105,572 | +26.4% |
| Cash at bank and in hand | 54/58 | €218,262 | €285,425 | +€67,162 | +30.8% |
| Deferred charges and accrued income | 490/1 | €218 | €712 | +€494 | +226.9% |
| Total equity and liabilities | 10/49 | €693,815 | €835,027 | +€141,212 | +20.4% |
| Equity | 10/15 | €655,366 | €815,709 | +€160,343 | +24.5% |
| Contributions | 10/11 | €180,000 | €180,000 | = | 0.0% |
| Capital | 10 | €180,000 | €180,000 | = | 0.0% |
| Issued capital | 100 | €180,000 | €180,000 | = | 0.0% |
| Reserves | 13 | €475,366 | €635,709 | +€160,343 | +33.7% |
| Non-distributable reserves | 130/1 | €18,000 | €18,000 | = | 0.0% |
| Legal reserve | 130 | €18,000 | €18,000 | = | 0.0% |
| Distributable reserves | 133 | €457,366 | €617,709 | +€160,343 | +35.1% |
| Amounts payable | 17/49 | €38,449 | €19,318 | -€19,131 | -49.8% |
| Amounts payable within one year | 42/48 | €38,384 | €7,671 | -€30,712 | -80.0% |
| Financial debts | 43 | €125 | €13 | -€112 | -89.3% |
| Credit institutions | 430/8 | €125 | €13 | -€112 | -89.3% |
| Trade debts | 44 | €32,914 | €2,314 | -€30,600 | -93.0% |
| Suppliers | 440/4 | €32,914 | €2,314 | -€30,600 | -93.0% |
| Taxes, remuneration and social security | 45 | €5,344 | €5,344 | = | 0.0% |
| Taxes | 450/3 | €5,344 | €5,344 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €65 | €11,647 | +€11,581 | +17719.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €300 | €300 | = | 0.0% |
| Other operating charges | 640/8 | €577 | €579 | +€2 | +0.3% |
| Gross operating margin | 9900 | €161,511 | €195,697 | +€34,186 | +21.2% |
| Operating profit (loss) | 9901 | €160,634 | €194,818 | +€34,184 | +21.3% |
| Financial income | 75/76B | €16,970 | €19,031 | +€2,061 | +12.1% |
| Recurring financial income | 75 | €16,970 | €19,031 | +€2,061 | +12.1% |
| Financial charges | 65/66B | €25 | €0 | -€25 | -100.0% |
| Recurring financial charges | 65 | €25 | €0 | -€25 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | €177,579 | €213,850 | +€36,271 | +20.4% |
| Income taxes | 67/77 | €55,435 | €53,507 | -€1,928 | -3.5% |
| Profit (loss) for the period | 9904 | €122,143 | €160,343 | +€38,199 | +31.3% |
| Profit (loss) for the period to be appropriated | 9905 | €122,143 | €160,343 | +€38,199 | +31.3% |
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 11 October 2026 via checked.be.