V VISION: 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.
V VISION
Largest movements
- Receivables within one year +€149,556
new in 2025: €149,556
of which Other amounts receivable: +€135,409
- Cash +€70,182
up €70,182 (+281%), from €24,975 to €95,157
mainly Net result for the year (+€200,791) and Tax, wage and social debts (+€55,302)
- Deferred charges and accrued income +€8,148
up €8,148 (+511%), from €1,596 to €9,743
- Tangible fixed assets +€5,027
up €5,027 (+14.5%), from €34,597 to €39,623
- Reserves +€199,958
up €199,958 (+903%), from €22,138 to €222,096
- Tax, wage and social debts +€55,302
up €55,302 (+451%), from €12,258 to €67,560
of which Taxes: +€55,302
- Other debts -€16,593
down €16,593 (-95.2%), from €17,426 to €833
- Short-term financial debts -€4,534
down €4,534 (-100%), from €4,534 to €0
- Gross operating margin +€243,078
up €243,078 (+629%), from €38,637 to €281,715
- Taxes +€57,454
up €57,454 (+755%), from €7,608 to €65,062
- Depreciation +€8,974
up €8,974 (+120%), from €7,498 to €16,472
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 | €62,867 | €295,786 | +€232,919 | +370% |
| Fixed assets | 21/28 | €34,597 | €39,623 | +€5,027 | +14.5% |
| Tangible fixed assets | 22/27 | €34,597 | €39,623 | +€5,027 | +14.5% |
| Furniture and vehicles | 24 | €34,597 | €39,623 | +€5,027 | +14.5% |
| Current assets | 29/58 | €28,271 | €256,163 | +€227,892 | +806% |
| Amounts receivable within one year | 40/41 | - | €149,556 | +€149,556 | |
| Trade receivables | 40 | - | €14,147 | +€14,147 | |
| Other amounts receivable | 41 | - | €135,409 | +€135,409 | |
| Current investments | 50/53 | €1,700 | €1,706 | +€6 | +0.4% |
| Cash at bank and in hand | 54/58 | €24,975 | €95,157 | +€70,182 | +281% |
| Deferred charges and accrued income | 490/1 | €1,596 | €9,743 | +€8,148 | +511% |
| Total equity and liabilities | 10/49 | €62,867 | €295,786 | +€232,919 | +370% |
| Equity | 10/15 | €27,138 | €227,096 | +€199,958 | +737% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €22,138 | €222,096 | +€199,958 | +903% |
| Distributable reserves | 133 | €22,138 | €222,096 | +€199,958 | +903% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €35,730 | €68,690 | +€32,961 | +92.3% |
| Amounts payable within one year | 42/48 | €35,730 | €68,690 | +€32,961 | +92.3% |
| Financial debts | 43 | €4,534 | €0 | -€4,534 | -100% |
| Credit institutions | 430/8 | €4,534 | €0 | -€4,534 | -100% |
| Trade debts | 44 | €1,511 | €297 | -€1,214 | -80.3% |
| Suppliers | 440/4 | €1,511 | €297 | -€1,214 | -80.3% |
| Taxes, remuneration and social security | 45 | €12,258 | €67,560 | +€55,302 | +451% |
| Taxes | 450/3 | €9,758 | €65,060 | +€55,302 | +567% |
| Remuneration and social security | 454/9 | €2,500 | €2,500 | = | 0.0% |
| Other amounts payable | 47/48 | €17,426 | €833 | -€16,593 | -95.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,498 | €16,472 | +€8,974 | +120% |
| Other operating charges | 640/8 | €542 | €1,330 | +€788 | +145% |
| Gross operating margin | 9900 | €38,637 | €281,715 | +€243,078 | +629% |
| Operating profit (loss) | 9901 | €30,597 | €263,913 | +€233,316 | +763% |
| Financial income | 75/76B | - | €2,331 | +€2,331 | |
| Recurring financial income | 75 | - | €2,331 | +€2,331 | |
| Financial charges | 65/66B | €18 | €391 | +€373 | +2,085% |
| Recurring financial charges | 65 | €18 | €391 | +€373 | +2,085% |
| Profit (loss) for the period before taxes | 9903 | €30,579 | €265,853 | +€235,274 | +769% |
| Income taxes | 67/77 | €7,608 | €65,062 | +€57,454 | +755% |
| Profit (loss) for the period | 9904 | €22,971 | €200,791 | +€177,820 | +774% |
| Profit (loss) for the period to be appropriated | 9905 | €22,971 | €200,791 | +€177,820 | +774% |
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 13 October 2026 via checked.be.