VISA: 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.
VISA
Largest movements
- Tangible fixed assets -€27,000
down €27,000 (-5.0%), from €536,975 to €509,975
- Debts after one year -€26,028
down €26,028 (-5.3%), from €493,104 to €467,076
- Tax, wage and social debts -€22,462
down €22,462 (-77.1%), from €29,140 to €6,677
of which Taxes: -€19,491
- Reserves +€20,660
up €20,660 (+14.7%), from €140,825 to €161,485
- Other debts +€9,031
up €9,031 (+380%), from €2,375 to €11,406
- Trade debts -€7,681
down €7,681 (-98.3%), from €7,812 to €131
- Gross operating margin -€76,276
down €76,276 (-54.5%), from €140,061 to €63,785
- Taxes -€14,457
down €14,457 (-73.7%), from €19,623 to €5,165
- Financial charges -€3,873
down €3,873 (-32.9%), from €11,756 to €7,883
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 | €701,889 | €675,804 | -€26,085 | -3.7% |
| Fixed assets | 21/28 | €536,975 | €509,975 | -€27,000 | -5.0% |
| Tangible fixed assets | 22/27 | €536,975 | €509,975 | -€27,000 | -5.0% |
| Land and buildings | 22 | €536,975 | €509,975 | -€27,000 | -5.0% |
| Current assets | 29/58 | €164,914 | €165,829 | +€915 | +0.6% |
| Amounts receivable within one year | 40/41 | €138,251 | €141,966 | +€3,715 | +2.7% |
| Trade receivables | 40 | €123,400 | €127,050 | +€3,650 | +3.0% |
| Other amounts receivable | 41 | €14,851 | €14,916 | +€65 | +0.4% |
| Cash at bank and in hand | 54/58 | €26,662 | €23,209 | -€3,454 | -13.0% |
| Deferred charges and accrued income | 490/1 | €0 | €653 | +€653 | |
| Total equity and liabilities | 10/49 | €701,889 | €675,804 | -€26,085 | -3.7% |
| Equity | 10/15 | €143,825 | €164,485 | +€20,660 | +14.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €140,825 | €161,485 | +€20,660 | +14.7% |
| Distributable reserves | 133 | €140,825 | €161,485 | +€20,660 | +14.7% |
| Amounts payable | 17/49 | €558,064 | €511,319 | -€46,746 | -8.4% |
| Amounts payable after more than one year | 17 | €493,104 | €467,076 | -€26,028 | -5.3% |
| Financial debts | 170/4 | €493,104 | €467,076 | -€26,028 | -5.3% |
| Amounts payable within one year | 42/48 | €64,960 | €44,243 | -€20,717 | -31.9% |
| Current portion of amounts payable after more than one year | 42 | €25,634 | €26,028 | +€395 | +1.5% |
| Trade debts | 44 | €7,812 | €131 | -€7,681 | -98.3% |
| Suppliers | 440/4 | €7,812 | €131 | -€7,681 | -98.3% |
| Taxes, remuneration and social security | 45 | €29,140 | €6,677 | -€22,462 | -77.1% |
| Taxes | 450/3 | €25,894 | €6,403 | -€19,491 | -75.3% |
| Remuneration and social security | 454/9 | €3,245 | €274 | -€2,971 | -91.6% |
| Other amounts payable | 47/48 | €2,375 | €11,406 | +€9,031 | +380% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,000 | €27,000 | = | 0.0% |
| Other operating charges | 640/8 | €3,755 | €3,863 | +€108 | +2.9% |
| Gross operating margin | 9900 | €140,061 | €63,785 | -€76,276 | -54.5% |
| Operating profit (loss) | 9901 | €109,305 | €32,921 | -€76,384 | -69.9% |
| Financial income | 75/76B | €564 | €787 | +€223 | +39.6% |
| Recurring financial income | 75 | €564 | €787 | +€223 | +39.6% |
| Financial charges | 65/66B | €11,756 | €7,883 | -€3,873 | -32.9% |
| Recurring financial charges | 65 | €11,756 | €7,883 | -€3,873 | -32.9% |
| Profit (loss) for the period before taxes | 9903 | €98,113 | €25,825 | -€72,287 | -73.7% |
| Income taxes | 67/77 | €19,623 | €5,165 | -€14,457 | -73.7% |
| Profit (loss) for the period | 9904 | €78,490 | €20,660 | -€57,830 | -73.7% |
| Profit (loss) for the period to be appropriated | 9905 | €78,490 | €20,660 | -€57,830 | -73.7% |
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 17 October 2026 via checked.be.