VISIEBLE: 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.
VISIEBLE
Largest movements
- Tangible fixed assets -€8,730
down €8,730 (-6.7%), from €130,206 to €121,476
- Cash +€7,186
up €7,186 (+2.5%), from €291,639 to €298,825
mainly Depreciation (+€8,730) and Trade debts (+€3,172)
- Reserves -€365,607
down €365,607 (-90.7%), from €403,107 to €37,500
of which Distributable reserves: -€358,807
- Profit (loss) carried forward +€360,550
new in 2025: €360,550
- Gross operating margin -€30,060
down €30,060 (-81.0%), from €37,106 to €7,046
- Financial income +€2,019
new in 2025: €2,019
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 | €422,213 | €420,328 | -€1,885 | -0.4% |
| Fixed assets | 21/28 | €130,206 | €121,476 | -€8,730 | -6.7% |
| Tangible fixed assets | 22/27 | €130,206 | €121,476 | -€8,730 | -6.7% |
| Land and buildings | 22 | €130,206 | €121,476 | -€8,730 | -6.7% |
| Current assets | 29/58 | €292,007 | €298,851 | +€6,845 | +2.3% |
| Amounts receivable within one year | 40/41 | €291 | €27 | -€264 | -90.8% |
| Trade receivables | 40 | - | €27 | +€27 | |
| Other amounts receivable | 41 | €291 | - | -€291 | |
| Cash at bank and in hand | 54/58 | €291,639 | €298,825 | +€7,186 | +2.5% |
| Deferred charges and accrued income | 490/1 | €77 | - | -€77 | |
| Total equity and liabilities | 10/49 | €422,213 | €420,328 | -€1,885 | -0.4% |
| Equity | 10/15 | €421,707 | €416,650 | -€5,057 | -1.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €403,107 | €37,500 | -€365,607 | -90.7% |
| Non-distributable reserves | 130/1 | €6,800 | - | -€6,800 | |
| Reserves not available under the articles | 1311 | €6,800 | - | -€6,800 | |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €358,807 | - | -€358,807 | |
| Profit (loss) carried forward | 14 | - | €360,550 | +€360,550 | |
| Amounts payable | 17/49 | €506 | €3,678 | +€3,172 | +626.9% |
| Amounts payable within one year | 42/48 | €506 | €3,678 | +€3,172 | +626.9% |
| Trade debts | 44 | €506 | €3,678 | +€3,172 | +626.9% |
| Suppliers | 440/4 | €506 | €3,678 | +€3,172 | +626.9% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,735 | €8,730 | -€6 | -0.1% |
| Other operating charges | 640/8 | €5,277 | €4,961 | -€316 | -6.0% |
| Non-recurring operating charges | 66A | - | €0 | +€0 | |
| Gross operating margin | 9900 | €37,106 | €7,046 | -€30,060 | -81.0% |
| Operating profit (loss) | 9901 | €23,094 | -€6,645 | -€29,739 | |
| Financial income | 75/76B | - | €2,019 | +€2,019 | |
| Recurring financial income | 75 | - | €2,019 | +€2,019 | |
| Financial charges | 65/66B | €136 | €432 | +€296 | +217.2% |
| Recurring financial charges | 65 | €136 | €432 | +€296 | +217.2% |
| Profit (loss) for the period before taxes | 9903 | €22,958 | -€5,057 | -€28,015 | |
| Profit (loss) for the period | 9904 | €22,958 | -€5,057 | -€28,015 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,958 | -€5,057 | -€28,015 |
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 12 October 2026 via checked.be.