VisBende: 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.
VisBende
Largest movements
- Tangible fixed assets +€277,950
up €277,950 (+54.0%), from €514,553 to €792,502
of which Land and buildings: +€280,284
- Current investments -€120,000
down €120,000 (-100.0%), from €120,000 to €0
- Cash -€19,387
down €19,387 (-89.1%), from €21,752 to €2,366
mainly Investment in fixed assets (net) (-€395,251) and Net result for the year (-€63,646)
- Receivables within one year -€8,817
down €8,817 (-66.5%), from €13,258 to €4,440
of which Trade receivables: -€4,871
- Debts after one year +€204,267
up €204,267 (+234.3%), from €87,185 to €291,452
- Profit (loss) carried forward -€54,864
down €54,864 (-803.9%), from -€6,825 to -€61,689
- Other debts -€21,808
down €21,808 (-7.8%), from €279,712 to €257,903
- Current portion of long-term debt +€15,212
up €15,212 (+143.8%), from €10,579 to €25,791
- Reserves -€8,782
down €8,782 (-7.5%), from €117,691 to €108,909
of which Tax-exempt reserves: -€8,782
- Depreciation +€68,458
up €68,458 (+140.2%), from €48,843 to €117,302
- Gross operating margin +€12,209
up €12,209 (+16.3%), from €74,921 to €87,130
- Financial income +€1,215
up €1,215 (+98.7%), from €1,231 to €2,445
- Financial charges +€1,013
up €1,013 (+4.1%), from €25,005 to €26,018
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 | €673,367 | €803,734 | +€130,366 | +19.4% |
| Fixed assets | 21/28 | €514,553 | €792,502 | +€277,950 | +54.0% |
| Tangible fixed assets | 22/27 | €514,553 | €792,502 | +€277,950 | +54.0% |
| Land and buildings | 22 | €507,651 | €787,935 | +€280,284 | +55.2% |
| Plant, machinery and equipment | 23 | €1,242 | €1,262 | +€19 | +1.5% |
| Furniture and vehicles | 24 | €5,659 | €3,306 | -€2,353 | -41.6% |
| Current assets | 29/58 | €158,814 | €11,231 | -€147,583 | -92.9% |
| Amounts receivable within one year | 40/41 | €13,258 | €4,440 | -€8,817 | -66.5% |
| Trade receivables | 40 | €7,648 | €2,776 | -€4,871 | -63.7% |
| Other amounts receivable | 41 | €5,610 | €1,664 | -€3,946 | -70.3% |
| Current investments | 50/53 | €120,000 | €0 | -€120,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €21,752 | €2,366 | -€19,387 | -89.1% |
| Deferred charges and accrued income | 490/1 | €3,804 | €4,425 | +€620 | +16.3% |
| Total equity and liabilities | 10/49 | €673,367 | €803,734 | +€130,366 | +19.4% |
| Equity | 10/15 | €245,493 | €181,847 | -€63,646 | -25.9% |
| Contributions | 10/11 | €134,627 | €134,627 | = | 0.0% |
| Reserves | 13 | €117,691 | €108,909 | -€8,782 | -7.5% |
| Tax-exempt reserves | 132 | €74,453 | €65,670 | -€8,782 | -11.8% |
| Distributable reserves | 133 | €43,239 | €43,239 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,825 | -€61,689 | -€54,864 | -803.9% |
| Provisions and deferred taxes | 16 | €24,818 | €21,890 | -€2,927 | -11.8% |
| Deferred taxes | 168 | €24,818 | €21,890 | -€2,927 | -11.8% |
| Amounts payable | 17/49 | €403,057 | €599,997 | +€196,940 | +48.9% |
| Amounts payable after more than one year | 17 | €87,185 | €291,452 | +€204,267 | +234.3% |
| Financial debts | 170/4 | €87,185 | €291,452 | +€204,267 | +234.3% |
| Amounts payable within one year | 42/48 | €292,590 | €289,472 | -€3,118 | -1.1% |
| Current portion of amounts payable after more than one year | 42 | €10,579 | €25,791 | +€15,212 | +143.8% |
| Trade debts | 44 | €1,720 | €5,716 | +€3,996 | +232.3% |
| Suppliers | 440/4 | €1,720 | €5,716 | +€3,996 | +232.3% |
| Taxes, remuneration and social security | 45 | €579 | €62 | -€517 | -89.3% |
| Taxes | 450/3 | €579 | €62 | -€517 | -89.3% |
| Other amounts payable | 47/48 | €279,712 | €257,903 | -€21,808 | -7.8% |
| Accrued charges and deferred income | 492/3 | €23,281 | €19,072 | -€4,209 | -18.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,843 | €117,302 | +€68,458 | +140.2% |
| Other operating charges | 640/8 | €12,266 | €12,830 | +€564 | +4.6% |
| Gross operating margin | 9900 | €74,921 | €87,130 | +€12,209 | +16.3% |
| Operating profit (loss) | 9901 | €13,812 | -€43,001 | -€56,813 | |
| Financial income | 75/76B | €1,231 | €2,445 | +€1,215 | +98.7% |
| Recurring financial income | 75 | €1,231 | €2,445 | +€1,215 | +98.7% |
| Financial charges | 65/66B | €25,005 | €26,018 | +€1,013 | +4.1% |
| Recurring financial charges | 65 | €25,005 | €26,018 | +€1,013 | +4.1% |
| Profit (loss) for the period before taxes | 9903 | -€9,962 | -€66,574 | -€56,612 | -568.3% |
| Transfer from deferred taxes | 780 | €2,725 | €2,927 | +€203 | +7.4% |
| Profit (loss) for the period | 9904 | -€7,237 | -€63,646 | -€56,409 | -779.5% |
| Transfer from tax-exempt reserves | 789 | €8,174 | €8,782 | +€608 | +7.4% |
| Profit (loss) for the period to be appropriated | 9905 | €937 | -€54,864 | -€55,801 |
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 4 October 2026 via checked.be.