VISE MODE: 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.
VISE MODE
Largest movements
- Receivables within one year -€112,006
down €112,006 (-33.9%), from €329,952 to €217,946
of which Other amounts receivable: -€100,160
- Tangible fixed assets -€33,565
down €33,565 (-2.9%), from €1.2m to €1.1m
of which Land and buildings: -€52,875
- Stocks and contracts +€28,183
up €28,183 (+9.4%), from €299,732 to €327,915
- Debts after one year -€163,974
down €163,974 (-38.0%), from €431,808 to €267,834
- Profit (loss) carried forward +€48,250
up €48,250 (+22.3%), from €216,762 to €265,011
- Other debts +€19,712
up €19,712 (+2.6%), from €758,817 to €778,530
- Reserves -€18,750
down €18,750 (-30.7%), from €61,010 to €42,260
of which Tax-exempt reserves: -€18,750
- Gross operating margin +€72,348
up €72,348 (+33.9%), from €213,650 to €285,997
- Staff costs +€7,144
up €7,144 (+4.5%), from €158,422 to €165,567
- Depreciation -€6,691
down €6,691 (-10.1%), from €66,200 to €59,509
- Financial charges -€3,972
down €3,972 (-12.3%), from €32,271 to €28,299
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 | €1,870,764 | €1,756,845 | -€113,919 | -6.1% |
| Fixed assets | 21/28 | €1,155,423 | €1,122,337 | -€33,086 | -2.9% |
| Tangible fixed assets | 22/27 | €1,155,423 | €1,121,859 | -€33,565 | -2.9% |
| Land and buildings | 22 | €1,148,295 | €1,095,420 | -€52,875 | -4.6% |
| Plant, machinery and equipment | 23 | €5,067 | €22,694 | +€17,627 | +347.9% |
| Furniture and vehicles | 24 | €2,062 | €3,745 | +€1,683 | +81.6% |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Financial fixed assets | 28 | - | €478 | +€478 | |
| Current assets | 29/58 | €715,341 | €634,508 | -€80,833 | -11.3% |
| Stocks and contracts in progress | 3 | €299,732 | €327,915 | +€28,183 | +9.4% |
| Stocks | 30/36 | €299,732 | €327,915 | +€28,183 | +9.4% |
| Amounts receivable within one year | 40/41 | €329,952 | €217,946 | -€112,006 | -33.9% |
| Trade receivables | 40 | €38,551 | €26,705 | -€11,846 | -30.7% |
| Other amounts receivable | 41 | €291,401 | €191,241 | -€100,160 | -34.4% |
| Cash at bank and in hand | 54/58 | €80,920 | €73,572 | -€7,348 | -9.1% |
| Deferred charges and accrued income | 490/1 | €4,736 | €15,074 | +€10,339 | +218.3% |
| Total equity and liabilities | 10/49 | €1,870,764 | €1,756,845 | -€113,919 | -6.1% |
| Equity | 10/15 | €339,745 | €369,245 | +€29,500 | +8.7% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €61,010 | €42,260 | -€18,750 | -30.7% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,197 | €6,197 | = | 0.0% |
| Tax-exempt reserves | 132 | €54,813 | €36,063 | -€18,750 | -34.2% |
| Profit (loss) carried forward | 14 | €216,762 | €265,011 | +€48,250 | +22.3% |
| Amounts payable | 17/49 | €1,531,019 | €1,387,600 | -€143,419 | -9.4% |
| Amounts payable after more than one year | 17 | €431,808 | €267,834 | -€163,974 | -38.0% |
| Financial debts | 170/4 | €431,808 | €267,834 | -€163,974 | -38.0% |
| Amounts payable within one year | 42/48 | €1,098,243 | €1,115,234 | +€16,991 | +1.5% |
| Current portion of amounts payable after more than one year | 42 | €162,400 | €163,974 | +€1,574 | +1.0% |
| Trade debts | 44 | €147,557 | €141,850 | -€5,707 | -3.9% |
| Suppliers | 440/4 | €147,557 | €141,850 | -€5,707 | -3.9% |
| Taxes, remuneration and social security | 45 | €29,469 | €30,881 | +€1,411 | +4.8% |
| Taxes | 450/3 | €1,846 | €2,609 | +€762 | +41.3% |
| Remuneration and social security | 454/9 | €27,623 | €28,272 | +€649 | +2.3% |
| Other amounts payable | 47/48 | €758,817 | €778,530 | +€19,712 | +2.6% |
| Accrued charges and deferred income | 492/3 | €968 | €4,531 | +€3,564 | +368.3% |
| Remuneration, social security and pensions | 62 | €158,422 | €165,567 | +€7,144 | +4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,200 | €59,509 | -€6,691 | -10.1% |
| Other operating charges | 640/8 | €14,045 | €14,708 | +€663 | +4.7% |
| Gross operating margin | 9900 | €213,650 | €285,997 | +€72,348 | +33.9% |
| Operating profit (loss) | 9901 | -€25,017 | €46,214 | +€71,231 | |
| Financial income | 75/76B | €13,293 | €13,789 | +€496 | +3.7% |
| Recurring financial income | 75 | €13,293 | €13,789 | +€496 | +3.7% |
| Financial charges | 65/66B | €32,271 | €28,299 | -€3,972 | -12.3% |
| Recurring financial charges | 65 | €32,271 | €28,299 | -€3,972 | -12.3% |
| Profit (loss) for the period before taxes | 9903 | -€43,995 | €31,704 | +€75,699 | |
| Income taxes | 67/77 | -€269 | €2,204 | +€2,473 | |
| Profit (loss) for the period | 9904 | -€43,726 | €29,500 | +€73,226 | |
| Transfer from tax-exempt reserves | 789 | - | €18,750 | +€18,750 | |
| Profit (loss) for the period to be appropriated | 9905 | -€43,726 | €48,250 | +€91,976 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.