VIS EN MEER: 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.
VIS EN MEER
Largest movements
- Current investments +€290,000
up €290,000 (+66.7%), from €435,001 to €725,001
- Receivables within one year +€76,978
up €76,978 (+21.5%), from €357,944 to €434,922
of which Other amounts receivable: +€54,871
- Tangible fixed assets +€16,538
up €16,538 (+7.6%), from €218,125 to €234,663
of which Furniture and vehicles: +€45,209
- Other debts +€447,633
new in 2025: €447,633
- Reserves -€435,233
down €435,233 (-53.9%), from €807,078 to €371,845
- Profit (loss) carried forward +€335,512
up €335,512 (+164%), from €204,222 to €539,734
- Trade debts +€46,792
up €46,792 (+95.1%), from €49,190 to €95,982
- Gross operating margin +€125,068
up €125,068 (+25.0%), from €500,607 to €625,675
- Taxes +€6,532
up €6,532 (+6.6%), from €98,597 to €105,129
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 | €1,178,490 | €1,564,670 | +€386,180 | +32.8% |
| Fixed assets | 21/28 | €218,125 | €234,663 | +€16,538 | +7.6% |
| Tangible fixed assets | 22/27 | €218,125 | €234,663 | +€16,538 | +7.6% |
| Land and buildings | 22 | €193,675 | €170,644 | -€23,030 | -11.9% |
| Plant, machinery and equipment | 23 | €19,315 | €13,675 | -€5,640 | -29.2% |
| Furniture and vehicles | 24 | €5,135 | €50,344 | +€45,209 | +880% |
| Current assets | 29/58 | €960,365 | €1,330,007 | +€369,642 | +38.5% |
| Stocks and contracts in progress | 3 | €21,743 | €24,576 | +€2,833 | +13.0% |
| Stocks | 30/36 | €21,743 | €24,576 | +€2,833 | +13.0% |
| Amounts receivable within one year | 40/41 | €357,944 | €434,922 | +€76,978 | +21.5% |
| Trade receivables | 40 | €98,682 | €120,789 | +€22,107 | +22.4% |
| Other amounts receivable | 41 | €259,262 | €314,133 | +€54,871 | +21.2% |
| Current investments | 50/53 | €435,001 | €725,001 | +€290,000 | +66.7% |
| Cash at bank and in hand | 54/58 | €140,604 | €139,397 | -€1,207 | -0.9% |
| Deferred charges and accrued income | 490/1 | €5,073 | €6,111 | +€1,038 | +20.5% |
| Total equity and liabilities | 10/49 | €1,178,490 | €1,564,670 | +€386,180 | +32.8% |
| Equity | 10/15 | €1,017,500 | €917,779 | -€99,721 | -9.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €807,078 | €371,845 | -€435,233 | -53.9% |
| Distributable reserves | 133 | €807,078 | €371,845 | -€435,233 | -53.9% |
| Profit (loss) carried forward | 14 | €204,222 | €539,734 | +€335,512 | +164% |
| Amounts payable | 17/49 | €160,989 | €646,891 | +€485,901 | +302% |
| Amounts payable within one year | 42/48 | €160,989 | €646,891 | +€485,901 | +302% |
| Trade debts | 44 | €49,190 | €95,982 | +€46,792 | +95.1% |
| Suppliers | 440/4 | €49,190 | €95,982 | +€46,792 | +95.1% |
| Taxes, remuneration and social security | 45 | €111,799 | €103,275 | -€8,524 | -7.6% |
| Taxes | 450/3 | €87,027 | €67,841 | -€19,186 | -22.0% |
| Remuneration and social security | 454/9 | €24,773 | €35,434 | +€10,662 | +43.0% |
| Other amounts payable | 47/48 | - | €447,633 | +€447,633 | |
| Non-recurring operating income | 76A | - | €9,000 | +€9,000 | |
| Remuneration, social security and pensions | 62 | €153,379 | €159,141 | +€5,761 | +3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,531 | €45,106 | +€2,575 | +6.1% |
| Other operating charges | 640/8 | €1,913 | €525 | -€1,388 | -72.5% |
| Gross operating margin | 9900 | €500,607 | €625,675 | +€125,068 | +25.0% |
| Operating profit (loss) | 9901 | €302,784 | €420,903 | +€118,119 | +39.0% |
| Financial income | 75/76B | €20,440 | €25,473 | +€5,033 | +24.6% |
| Recurring financial income | 75 | €20,440 | €25,473 | +€5,033 | +24.6% |
| Financial charges | 65/66B | €5,418 | €5,736 | +€318 | +5.9% |
| Recurring financial charges | 65 | €5,418 | €5,736 | +€318 | +5.9% |
| Profit (loss) for the period before taxes | 9903 | €317,807 | €440,640 | +€122,834 | +38.7% |
| Transfer from deferred taxes | 780 | €0 | - | = | |
| Income taxes | 67/77 | €98,597 | €105,129 | +€6,532 | +6.6% |
| Profit (loss) for the period | 9904 | €219,210 | €335,512 | +€116,302 | +53.1% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €219,210 | €335,512 | +€116,302 | +53.1% |
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 31 October 2026 via checked.be.