VISHANDEL LUK: 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.
VISHANDEL LUK
Largest movements
- Cash -€14,828
down €14,828 (-17.4%), from €85,003 to €70,175
mainly Net result for the year (-€79,912) and Debts after one year (-€8,450)
- Receivables after one year -€10,182
down €10,182 (-19.9%), from €51,060 to €40,877
- Receivables within one year -€7,405
down €7,405 (-7.9%), from €94,063 to €86,658
of which Other amounts receivable: -€7,130
- Profit (loss) carried forward -€48,868
new in 2025: -€48,868
- Trade debts +€46,074
up €46,074 (+176%), from €26,174 to €72,248
- Reserves -€31,045
down €31,045 (-17.5%), from €177,792 to €146,747
of which Distributable reserves: -€31,045
- Accrued charges and deferred income +€10,162
up €10,162 (+834%), from €1,218 to €11,380
- Debts after one year -€8,450
down €8,450 (-79.9%), from €10,575 to €2,125
- Gross operating margin -€97,416
down €97,416 (-43.6%), from €223,413 to €125,997
- Staff costs +€6,041
up €6,041 (+3.3%), from €183,791 to €189,833
- Depreciation -€6,001
down €6,001 (-36.4%), from €16,503 to €10,501
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 | €307,376 | €276,220 | -€31,156 | -10.1% |
| Fixed assets | 21/28 | €51,090 | €48,199 | -€2,891 | -5.7% |
| Tangible fixed assets | 22/27 | €51,071 | €48,180 | -€2,891 | -5.7% |
| Land and buildings | 22 | €30,000 | €30,000 | = | 0.0% |
| Plant, machinery and equipment | 23 | €665 | €6,714 | +€6,049 | +910% |
| Furniture and vehicles | 24 | €20,407 | €11,466 | -€8,941 | -43.8% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €19 | €19 | = | 0.0% |
| Current assets | 29/58 | €256,286 | €228,022 | -€28,264 | -11.0% |
| Amounts receivable after more than one year | 29 | €51,060 | €40,877 | -€10,182 | -19.9% |
| Trade receivables | 290 | €51,060 | €40,877 | -€10,182 | -19.9% |
| Stocks and contracts in progress | 3 | €24,843 | €26,112 | +€1,269 | +5.1% |
| Stocks | 30/36 | €24,843 | €26,112 | +€1,269 | +5.1% |
| Amounts receivable within one year | 40/41 | €94,063 | €86,658 | -€7,405 | -7.9% |
| Trade receivables | 40 | €40,986 | €40,711 | -€275 | -0.7% |
| Other amounts receivable | 41 | €53,078 | €45,947 | -€7,130 | -13.4% |
| Cash at bank and in hand | 54/58 | €85,003 | €70,175 | -€14,828 | -17.4% |
| Deferred charges and accrued income | 490/1 | €1,317 | €4,199 | +€2,882 | +219% |
| Total equity and liabilities | 10/49 | €307,376 | €276,220 | -€31,156 | -10.1% |
| Equity | 10/15 | €204,217 | €124,305 | -€79,912 | -39.1% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Capital | 10 | €19,000 | €19,000 | = | 0.0% |
| Issued capital | 100 | €19,000 | €19,000 | = | 0.0% |
| Revaluation surpluses | 12 | €7,425 | €7,425 | = | 0.0% |
| Reserves | 13 | €177,792 | €146,747 | -€31,045 | -17.5% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Legal reserve | 130 | €1,900 | €1,900 | = | 0.0% |
| Distributable reserves | 133 | €175,892 | €144,847 | -€31,045 | -17.6% |
| Profit (loss) carried forward | 14 | - | -€48,868 | -€48,868 | |
| Provisions and deferred taxes | 16 | €3,825 | €3,825 | = | 0.0% |
| Deferred taxes | 168 | €3,825 | €3,825 | = | 0.0% |
| Amounts payable | 17/49 | €99,333 | €148,090 | +€48,757 | +49.1% |
| Amounts payable after more than one year | 17 | €10,575 | €2,125 | -€8,450 | -79.9% |
| Financial debts | 170/4 | €10,575 | €2,125 | -€8,450 | -79.9% |
| Amounts payable within one year | 42/48 | €87,540 | €134,585 | +€47,045 | +53.7% |
| Current portion of amounts payable after more than one year | 42 | €8,388 | €8,456 | +€67 | +0.8% |
| Financial debts | 43 | €860 | €857 | -€2 | -0.3% |
| Credit institutions | 430/8 | €860 | €857 | -€2 | -0.3% |
| Trade debts | 44 | €26,174 | €72,248 | +€46,074 | +176% |
| Suppliers | 440/4 | €26,174 | €72,248 | +€46,074 | +176% |
| Taxes, remuneration and social security | 45 | €52,118 | €53,024 | +€906 | +1.7% |
| Taxes | 450/3 | €16,014 | €16,768 | +€754 | +4.7% |
| Remuneration and social security | 454/9 | €36,104 | €36,256 | +€152 | +0.4% |
| Accrued charges and deferred income | 492/3 | €1,218 | €11,380 | +€10,162 | +834% |
| Remuneration, social security and pensions | 62 | €183,791 | €189,833 | +€6,041 | +3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,503 | €10,501 | -€6,001 | -36.4% |
| Other operating charges | 640/8 | €1,855 | €1,750 | -€105 | -5.6% |
| Gross operating margin | 9900 | €223,413 | €125,997 | -€97,416 | -43.6% |
| Operating profit (loss) | 9901 | €21,264 | -€76,088 | -€97,352 | |
| Financial income | 75/76B | €3,014 | €2,513 | -€501 | -16.6% |
| Recurring financial income | 75 | €3,014 | €2,513 | -€501 | -16.6% |
| Financial charges | 65/66B | €7,396 | €6,338 | -€1,058 | -14.3% |
| Recurring financial charges | 65 | €7,396 | €6,338 | -€1,058 | -14.3% |
| Profit (loss) for the period before taxes | 9903 | €16,882 | -€79,912 | -€96,795 | |
| Income taxes | 67/77 | €1,535 | - | -€1,535 | |
| Profit (loss) for the period | 9904 | €15,347 | -€79,912 | -€95,260 | |
| Profit (loss) for the period to be appropriated | 9905 | €15,347 | -€79,912 | -€95,260 |
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 19 October 2026 via checked.be.