VISINVEST: 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.
VISINVEST
Largest movements
- Tangible fixed assets +€77,540
up €77,540 (+6.9%), from €1.1m to €1.2m
of which Plant, machinery and equipment: +€115,480
- Cash -€50,485
down €50,485 (-31.9%), from €158,391 to €107,907
mainly Investment in fixed assets (net) (-€154,172) and Net result for the year (-€56,695)
- Debts after one year +€81,496
up €81,496 (+9.3%), from €873,072 to €954,568
of which Financial debts: +€79,696
- Profit (loss) carried forward -€56,695
down €56,695 (-29.3%), from €193,362 to €136,667
- Financial charges +€8,787
up €8,787 (+30.1%), from €29,208 to €37,995
- Depreciation -€3,517
down €3,517 (-4.6%), from €77,148 to €73,632
- Other operating charges +€2,043
up €2,043 (+12.7%), from €16,026 to €18,069
- Financial income -€742
down €742 (-24.8%), from €2,995 to €2,253
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 | €1,299,288 | €1,328,688 | +€29,400 | +2.3% |
| Fixed assets | 21/28 | €1,126,035 | €1,206,575 | +€80,540 | +7.2% |
| Tangible fixed assets | 22/27 | €1,125,891 | €1,203,431 | +€77,540 | +6.9% |
| Land and buildings | 22 | €960,107 | €925,291 | -€34,816 | -3.6% |
| Plant, machinery and equipment | 23 | €158,569 | €274,048 | +€115,480 | +72.8% |
| Furniture and vehicles | 24 | €7,216 | €4,092 | -€3,123 | -43.3% |
| Financial fixed assets | 28 | €144 | €3,144 | +€3,000 | +2,087% |
| Current assets | 29/58 | €173,253 | €122,113 | -€51,140 | -29.5% |
| Amounts receivable within one year | 40/41 | €12,313 | €10,122 | -€2,190 | -17.8% |
| Trade receivables | 40 | €6,638 | €4,561 | -€2,077 | -31.3% |
| Other amounts receivable | 41 | €5,675 | €5,561 | -€113 | -2.0% |
| Cash at bank and in hand | 54/58 | €158,391 | €107,907 | -€50,485 | -31.9% |
| Deferred charges and accrued income | 490/1 | €2,549 | €4,084 | +€1,535 | +60.2% |
| Total equity and liabilities | 10/49 | €1,299,288 | €1,328,688 | +€29,400 | +2.3% |
| Equity | 10/15 | €361,662 | €304,967 | -€56,695 | -15.7% |
| Contributions | 10/11 | €153,000 | €153,000 | = | 0.0% |
| Capital | 10 | €153,000 | €153,000 | = | 0.0% |
| Issued capital | 100 | €153,000 | €153,000 | = | 0.0% |
| Reserves | 13 | €15,300 | €15,300 | = | 0.0% |
| Non-distributable reserves | 130/1 | €15,300 | €15,300 | = | 0.0% |
| Legal reserve | 130 | €15,300 | €15,300 | = | 0.0% |
| Profit (loss) carried forward | 14 | €193,362 | €136,667 | -€56,695 | -29.3% |
| Amounts payable | 17/49 | €937,626 | €1,023,721 | +€86,095 | +9.2% |
| Amounts payable after more than one year | 17 | €873,072 | €954,568 | +€81,496 | +9.3% |
| Financial debts | 170/4 | €604,451 | €684,147 | +€79,696 | +13.2% |
| Other amounts payable | 178/9 | €268,621 | €270,421 | +€1,800 | +0.7% |
| Amounts payable within one year | 42/48 | €51,827 | €50,458 | -€1,369 | -2.6% |
| Current portion of amounts payable after more than one year | 42 | €34,180 | €34,901 | +€721 | +2.1% |
| Trade debts | 44 | €6,721 | €5,196 | -€1,526 | -22.7% |
| Suppliers | 440/4 | €6,721 | €5,196 | -€1,526 | -22.7% |
| Taxes, remuneration and social security | 45 | €10,926 | €10,361 | -€565 | -5.2% |
| Taxes | 450/3 | €7,066 | €6,261 | -€805 | -11.4% |
| Remuneration and social security | 454/9 | €3,860 | €4,100 | +€240 | +6.2% |
| Accrued charges and deferred income | 492/3 | €12,727 | €18,695 | +€5,968 | +46.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,148 | €73,632 | -€3,517 | -4.6% |
| Other operating charges | 640/8 | €16,026 | €18,069 | +€2,043 | +12.7% |
| Gross operating margin | 9900 | €71,613 | €71,070 | -€544 | -0.8% |
| Operating profit (loss) | 9901 | -€21,561 | -€20,631 | +€930 | +4.3% |
| Financial income | 75/76B | €2,995 | €2,253 | -€742 | -24.8% |
| Recurring financial income | 75 | €2,995 | €2,253 | -€742 | -24.8% |
| Financial charges | 65/66B | €29,208 | €37,995 | +€8,787 | +30.1% |
| Recurring financial charges | 65 | €29,208 | €37,995 | +€8,787 | +30.1% |
| Profit (loss) for the period before taxes | 9903 | -€47,775 | -€56,374 | -€8,599 | -18.0% |
| Income taxes | 67/77 | €308 | €321 | +€13 | +4.4% |
| Profit (loss) for the period | 9904 | -€48,083 | -€56,695 | -€8,613 | -17.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€48,083 | -€56,695 | -€8,613 | -17.9% |
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 13 October 2026 via checked.be.