VISCOR: 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.
VISCOR
Largest movements
- Tangible fixed assets -€171,144
down €171,144 (-6.8%), from €2.5m to €2.3m
of which Land and buildings: -€182,398
- Receivables within one year -€125,729
down €125,729 (-33.4%), from €376,408 to €250,680
of which Other amounts receivable: -€62,906
- Cash +€109,601
up €109,601 (+40.8%), from €268,868 to €378,469
mainly Net result for the year (+€379,880) and Depreciation (+€260,023)
- Debts after one year -€132,953
down €132,953 (-12.1%), from €1.1m to €966,067
of which Financial debts: -€132,953
- Short-term financial debts -€57,398
no longer reported in 2025 (was €57,398)
- Depreciation +€120,912
up €120,912 (+86.9%), from €139,110 to €260,023
- Gross operating margin +€58,246
up €58,246 (+6.8%), from €862,591 to €920,837
- Other operating charges +€14,055
up €14,055 (+436.0%), from €3,224 to €17,279
- Financial charges -€13,209
down €13,209 (-16.1%), from €81,997 to €68,788
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 | €3,716,312 | €3,529,040 | -€187,271 | -5.0% |
| Fixed assets | 21/28 | €3,064,432 | €2,893,288 | -€171,144 | -5.6% |
| Tangible fixed assets | 22/27 | €2,512,502 | €2,341,358 | -€171,144 | -6.8% |
| Land and buildings | 22 | €2,468,559 | €2,286,161 | -€182,398 | -7.4% |
| Plant, machinery and equipment | 23 | €17,661 | €20,709 | +€3,048 | +17.3% |
| Furniture and vehicles | 24 | €26,282 | €34,487 | +€8,205 | +31.2% |
| Financial fixed assets | 28 | €551,930 | €551,930 | = | 0.0% |
| Current assets | 29/58 | €651,880 | €635,753 | -€16,127 | -2.5% |
| Amounts receivable within one year | 40/41 | €376,408 | €250,680 | -€125,729 | -33.4% |
| Trade receivables | 40 | €313,503 | €250,680 | -€62,823 | -20.0% |
| Other amounts receivable | 41 | €62,906 | - | -€62,906 | |
| Cash at bank and in hand | 54/58 | €268,868 | €378,469 | +€109,601 | +40.8% |
| Deferred charges and accrued income | 490/1 | €6,604 | €6,604 | = | 0.0% |
| Total equity and liabilities | 10/49 | €3,716,312 | €3,529,040 | -€187,271 | -5.0% |
| Equity | 10/15 | €2,245,847 | €2,230,907 | -€14,940 | -0.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €2,233,447 | €2,218,507 | -€14,940 | -0.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €5,566 | €5,566 | = | 0.0% |
| Distributable reserves | 133 | €2,226,021 | €2,211,081 | -€14,940 | -0.7% |
| Amounts payable | 17/49 | €1,470,464 | €1,298,133 | -€172,331 | -11.7% |
| Amounts payable after more than one year | 17 | €1,099,020 | €966,067 | -€132,953 | -12.1% |
| Financial debts | 170/4 | €199,020 | €66,067 | -€132,953 | -66.8% |
| Other amounts payable | 178/9 | €900,000 | €900,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €334,756 | €297,007 | -€37,749 | -11.3% |
| Current portion of amounts payable after more than one year | 42 | €162,139 | €132,953 | -€29,186 | -18.0% |
| Financial debts | 43 | €57,398 | - | -€57,398 | |
| Credit institutions | 430/8 | €57,398 | - | -€57,398 | |
| Trade debts | 44 | €0 | €15,176 | +€15,176 | |
| Suppliers | 440/4 | €0 | €15,176 | +€15,176 | |
| Taxes, remuneration and social security | 45 | €60,308 | €93,667 | +€33,359 | +55.3% |
| Taxes | 450/3 | €60,308 | €93,667 | +€33,359 | +55.3% |
| Other amounts payable | 47/48 | €54,911 | €55,212 | +€301 | +0.5% |
| Accrued charges and deferred income | 492/3 | €36,688 | €35,059 | -€1,629 | -4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €139,110 | €260,023 | +€120,912 | +86.9% |
| Other operating charges | 640/8 | €3,224 | €17,279 | +€14,055 | +436.0% |
| Gross operating margin | 9900 | €862,591 | €920,837 | +€58,246 | +6.8% |
| Operating profit (loss) | 9901 | €720,257 | €643,536 | -€76,721 | -10.7% |
| Financial income | 75/76B | €8,101 | €140 | -€7,961 | -98.3% |
| Recurring financial income | 75 | €8,101 | €140 | -€7,961 | -98.3% |
| Financial charges | 65/66B | €81,997 | €68,788 | -€13,209 | -16.1% |
| Recurring financial charges | 65 | €81,997 | €68,788 | -€13,209 | -16.1% |
| Profit (loss) for the period before taxes | 9903 | €646,361 | €574,887 | -€71,473 | -11.1% |
| Income taxes | 67/77 | €198,628 | €195,007 | -€3,620 | -1.8% |
| Profit (loss) for the period | 9904 | €447,733 | €379,880 | -€67,853 | -15.2% |
| Profit (loss) for the period to be appropriated | 9905 | €447,733 | €379,880 | -€67,853 | -15.2% |
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.