VIS EXPRESS: 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 EXPRESS
Largest movements
- Tangible fixed assets -€30,483
down €30,483 (-17.1%), from €177,917 to €147,434
of which Leasing and similar rights: -€26,756
- Receivables within one year +€9,672
up €9,672 (+1,146%), from €844 to €10,516
of which Other amounts receivable: +€6,908
- Stocks and contracts -€4,525
down €4,525 (-12.6%), from €36,054 to €31,529
- Cash -€4,357
down €4,357 (-38.4%), from €11,358 to €7,001
mainly Debts after one year (-€20,630) and Other debts (-€15,034)
- Debts after one year -€20,630
down €20,630 (-17.0%), from €121,618 to €100,988
- Other debts -€15,034
down €15,034 (-100%), from €15,034 to €0
- Short-term financial debts -€6,662
down €6,662 (-20.0%), from €33,386 to €26,724
of which Credit institutions: -€6,722
- Trade debts +€5,580
up €5,580 (+17.6%), from €31,698 to €37,278
- Profit (loss) carried forward +€2,764
up €2,764 (+3.9%), from -€71,733 to -€68,969
- Gross operating margin +€13,431
up €13,431 (+11.3%), from €118,769 to €132,200
- Staff costs +€12,219
up €12,219 (+17.7%), from €69,212 to €81,432
- Financial charges +€3,583
up €3,583 (+28.3%), from €12,649 to €16,232
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 | €231,757 | €202,264 | -€29,493 | -12.7% |
| Fixed assets | 21/28 | €177,917 | €147,434 | -€30,483 | -17.1% |
| Tangible fixed assets | 22/27 | €177,917 | €147,434 | -€30,483 | -17.1% |
| Plant, machinery and equipment | 23 | €8,405 | €4,678 | -€3,727 | -44.3% |
| Leasing and similar rights | 25 | €169,512 | €142,756 | -€26,756 | -15.8% |
| Current assets | 29/58 | €53,839 | €54,830 | +€990 | +1.8% |
| Stocks and contracts in progress | 3 | €36,054 | €31,529 | -€4,525 | -12.6% |
| Stocks | 30/36 | €36,054 | €31,529 | -€4,525 | -12.6% |
| Amounts receivable within one year | 40/41 | €844 | €10,516 | +€9,672 | +1,146% |
| Trade receivables | 40 | €0 | €2,765 | +€2,765 | |
| Other amounts receivable | 41 | €844 | €7,752 | +€6,908 | +819% |
| Cash at bank and in hand | 54/58 | €11,358 | €7,001 | -€4,357 | -38.4% |
| Deferred charges and accrued income | 490/1 | €5,584 | €5,783 | +€199 | +3.6% |
| Total equity and liabilities | 10/49 | €231,757 | €202,264 | -€29,493 | -12.7% |
| Equity | 10/15 | €384 | €3,147 | +€2,764 | +720% |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Reserves | 13 | €2,117 | €2,117 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,117 | €2,117 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,117 | €2,117 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€71,733 | -€68,969 | +€2,764 | +3.9% |
| Amounts payable | 17/49 | €231,373 | €199,117 | -€32,256 | -13.9% |
| Amounts payable after more than one year | 17 | €121,618 | €100,988 | -€20,630 | -17.0% |
| Financial debts | 170/4 | €121,618 | €100,988 | -€20,630 | -17.0% |
| Amounts payable within one year | 42/48 | €109,755 | €98,129 | -€11,626 | -10.6% |
| Current portion of amounts payable after more than one year | 42 | €20,244 | €22,420 | +€2,176 | +10.7% |
| Financial debts | 43 | €33,386 | €26,724 | -€6,662 | -20.0% |
| Credit institutions | 430/8 | €33,352 | €26,630 | -€6,722 | -20.2% |
| Other loans | 439 | €34 | €94 | +€60 | +178% |
| Trade debts | 44 | €31,698 | €37,278 | +€5,580 | +17.6% |
| Suppliers | 440/4 | €31,698 | €37,278 | +€5,580 | +17.6% |
| Taxes, remuneration and social security | 45 | €9,393 | €11,707 | +€2,313 | +24.6% |
| Taxes | 450/3 | €3,606 | €3,894 | +€288 | +8.0% |
| Remuneration and social security | 454/9 | €5,787 | €7,813 | +€2,026 | +35.0% |
| Other amounts payable | 47/48 | €15,034 | €0 | -€15,034 | -100% |
| Non-recurring operating income | 76A | €3,620 | €0 | -€3,620 | -100% |
| Remuneration, social security and pensions | 62 | €69,212 | €81,432 | +€12,219 | +17.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,787 | €30,483 | +€696 | +2.3% |
| Other operating charges | 640/8 | €1,880 | €1,428 | -€452 | -24.0% |
| Gross operating margin | 9900 | €118,769 | €132,200 | +€13,431 | +11.3% |
| Operating profit (loss) | 9901 | €17,890 | €18,857 | +€968 | +5.4% |
| Financial income | 75/76B | €677 | €139 | -€538 | -79.5% |
| Recurring financial income | 75 | €677 | €139 | -€538 | -79.5% |
| Financial charges | 65/66B | €12,649 | €16,232 | +€3,583 | +28.3% |
| Recurring financial charges | 65 | €12,649 | €16,232 | +€3,583 | +28.3% |
| Profit (loss) for the period before taxes | 9903 | €5,917 | €2,764 | -€3,154 | -53.3% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €5,917 | €2,764 | -€3,154 | -53.3% |
| Profit (loss) for the period to be appropriated | 9905 | €5,917 | €2,764 | -€3,154 | -53.3% |
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 16 October 2026 via checked.be.