VISE VOYAGES: 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 VOYAGES
Largest movements
- Deferred charges and accrued income +€109,903
up €109,903 (+62.2%), from €176,801 to €286,704
- Receivables within one year -€47,949
down €47,949 (-16.9%), from €283,385 to €235,436
of which Trade receivables: -€51,333
- Tangible fixed assets +€27,305
up €27,305 (+374%), from €7,300 to €34,605
of which Furniture and vehicles: +€29,309
- Cash -€16,168
down €16,168 (-8.0%), from €201,833 to €185,665
mainly Deferred charges and accrued income (-€109,903) and Investment in fixed assets (net) (-€37,288)
- Profit (loss) carried forward +€25,465
up €25,465 (+8.4%), from €302,723 to €328,188
- Debts after one year +€16,667
new in 2025: €16,667
- Tax, wage and social debts +€12,739
up €12,739 (+475%), from €2,685 to €15,424
- Trade debts +€10,223
up €10,223 (+3.1%), from €333,911 to €344,135
- Current portion of long-term debt +€7,995
new in 2025: €7,995
- Gross operating margin -€25,753
down €25,753 (-27.3%), from €94,351 to €68,599
- Depreciation +€7,483
up €7,483 (+299%), from €2,500 to €9,984
- Taxes -€4,240
down €4,240 (-23.9%), from €17,777 to €13,536
- Financial charges +€2,988
up €2,988 (+40.0%), from €7,474 to €10,462
of which Financial charges: +€2,864
- Other operating charges +€1,889
up €1,889 (+157%), from €1,201 to €3,090
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 | €669,319 | €742,410 | +€73,090 | +10.9% |
| Fixed assets | 21/28 | €7,300 | €34,605 | +€27,305 | +374% |
| Tangible fixed assets | 22/27 | €7,300 | €34,605 | +€27,305 | +374% |
| Plant, machinery and equipment | 23 | €6,690 | €4,686 | -€2,004 | -30.0% |
| Furniture and vehicles | 24 | €610 | €29,919 | +€29,309 | +4,804% |
| Current assets | 29/58 | €662,019 | €707,805 | +€45,786 | +6.9% |
| Amounts receivable within one year | 40/41 | €283,385 | €235,436 | -€47,949 | -16.9% |
| Trade receivables | 40 | €279,971 | €228,638 | -€51,333 | -18.3% |
| Other amounts receivable | 41 | €3,414 | €6,798 | +€3,384 | +99.1% |
| Cash at bank and in hand | 54/58 | €201,833 | €185,665 | -€16,168 | -8.0% |
| Deferred charges and accrued income | 490/1 | €176,801 | €286,704 | +€109,903 | +62.2% |
| Total equity and liabilities | 10/49 | €669,319 | €742,410 | +€73,090 | +10.9% |
| Equity | 10/15 | €332,723 | €358,188 | +€25,465 | +7.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €10,000 | €10,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €8,000 | €8,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €302,723 | €328,188 | +€25,465 | +8.4% |
| Amounts payable | 17/49 | €336,596 | €384,221 | +€47,625 | +14.1% |
| Amounts payable after more than one year | 17 | - | €16,667 | +€16,667 | |
| Financial debts | 170/4 | - | €16,667 | +€16,667 | |
| Amounts payable within one year | 42/48 | €336,596 | €367,554 | +€30,958 | +9.2% |
| Current portion of amounts payable after more than one year | 42 | - | €7,995 | +€7,995 | |
| Trade debts | 44 | €333,911 | €344,135 | +€10,223 | +3.1% |
| Suppliers | 440/4 | €333,911 | €344,135 | +€10,223 | +3.1% |
| Taxes, remuneration and social security | 45 | €2,685 | €15,424 | +€12,739 | +475% |
| Taxes | 450/3 | €2,685 | €15,424 | +€12,739 | +475% |
| Remuneration, social security and pensions | 62 | €4,850 | €6,063 | +€1,213 | +25.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,500 | €9,984 | +€7,483 | +299% |
| Other operating charges | 640/8 | €1,201 | €3,090 | +€1,889 | +157% |
| Non-recurring operating charges | 66A | €2,866 | - | -€2,866 | |
| Gross operating margin | 9900 | €94,351 | €68,599 | -€25,753 | -27.3% |
| Operating profit (loss) | 9901 | €82,934 | €49,462 | -€33,472 | -40.4% |
| Financial income | 75/76B | €838 | €1 | -€837 | -99.9% |
| Recurring financial income | 75 | €838 | €1 | -€837 | -99.9% |
| Financial charges | 65/66B | €7,474 | €10,462 | +€2,988 | +40.0% |
| Recurring financial charges | 65 | €7,358 | €10,222 | +€2,864 | +38.9% |
| Non-recurring financial charges | 66B | €116 | €239 | +€123 | +106% |
| Profit (loss) for the period before taxes | 9903 | €76,298 | €39,001 | -€37,297 | -48.9% |
| Income taxes | 67/77 | €17,777 | €13,536 | -€4,240 | -23.9% |
| Profit (loss) for the period | 9904 | €58,522 | €25,465 | -€33,057 | -56.5% |
| Profit (loss) for the period to be appropriated | 9905 | €58,522 | €25,465 | -€33,057 | -56.5% |
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 27 October 2026 via checked.be.