Visalex: what changed
Two fiscal 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.
Visalex
Largest movements
- Cash +€14,748
up €14,748 (+39.4%), from €37,436 to €52,184
mainly Net result for the year (+€32,794) and Tax, wage and social debts (+€12,721)
- Receivables within one year +€1,993
up €1,993 (+11.2%), from €17,730 to €19,723
of which Trade receivables: +€1,993
- Tax, wage and social debts +€12,721
up €12,721 (+112.4%), from €11,321 to €24,042
- Other debts +€5,750
up €5,750 (+21.3%), from €27,000 to €32,750
- Trade debts -€1,371
down €1,371 (-92.1%), from €1,488 to €117
- Gross operating margin +€18,487
up €18,487 (+62.0%), from €29,798 to €48,285
- Taxes +€4,649
up €4,649 (+66.7%), from €6,965 to €11,614
- Depreciation -€943
down €943 (-25.1%), from €3,760 to €2,817
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 | €59,035 | €75,767 | +€16,732 | +28.3% |
| Fixed assets | 21/28 | €2,744 | €2,580 | -€163 | -6.0% |
| Tangible fixed assets | 22/27 | €2,744 | €2,580 | -€163 | -6.0% |
| Furniture and vehicles | 24 | €2,744 | €2,580 | -€163 | -6.0% |
| Current assets | 29/58 | €56,291 | €73,187 | +€16,895 | +30.0% |
| Amounts receivable within one year | 40/41 | €17,730 | €19,723 | +€1,993 | +11.2% |
| Trade receivables | 40 | €17,730 | €19,723 | +€1,993 | +11.2% |
| Other amounts receivable | 41 | - | €0 | = | |
| Cash at bank and in hand | 54/58 | €37,436 | €52,184 | +€14,748 | +39.4% |
| Deferred charges and accrued income | 490/1 | €1,126 | €1,279 | +€154 | +13.6% |
| Total equity and liabilities | 10/49 | €59,035 | €75,767 | +€16,732 | +28.3% |
| Equity | 10/15 | €18,814 | €18,858 | +€44 | +0.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €214 | €258 | +€44 | +20.4% |
| Amounts payable | 17/49 | €40,221 | €56,909 | +€16,688 | +41.5% |
| Amounts payable within one year | 42/48 | €39,809 | €56,909 | +€17,100 | +43.0% |
| Trade debts | 44 | €1,488 | €117 | -€1,371 | -92.1% |
| Suppliers | 440/4 | €1,488 | €117 | -€1,371 | -92.1% |
| Taxes, remuneration and social security | 45 | €11,321 | €24,042 | +€12,721 | +112.4% |
| Taxes | 450/3 | €11,321 | €24,042 | +€12,721 | +112.4% |
| Other amounts payable | 47/48 | €27,000 | €32,750 | +€5,750 | +21.3% |
| Accrued charges and deferred income | 492/3 | €411 | €0 | -€411 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,760 | €2,817 | -€943 | -25.1% |
| Other operating charges | 640/8 | €907 | €933 | +€26 | +2.9% |
| Gross operating margin | 9900 | €29,798 | €48,285 | +€18,487 | +62.0% |
| Operating profit (loss) | 9901 | €25,131 | €44,534 | +€19,403 | +77.2% |
| Financial charges | 65/66B | €506 | €127 | -€379 | -74.9% |
| Recurring financial charges | 65 | €506 | €127 | -€379 | -74.9% |
| Profit (loss) for the period before taxes | 9903 | €24,625 | €44,407 | +€19,782 | +80.3% |
| Income taxes | 67/77 | €6,965 | €11,614 | +€4,649 | +66.7% |
| Profit (loss) for the period | 9904 | €17,660 | €32,794 | +€15,134 | +85.7% |
| Profit (loss) for the period to be appropriated | 9905 | €17,660 | €32,794 | +€15,134 | +85.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.