Visiology: what changed
Two fiscal 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.
Visiology
Largest movements
- Receivables within one year +€31,277
up €31,277 (+17.8%), from €175,586 to €206,862
of which Trade receivables: +€32,126
- Cash +€16,613
up €16,613 (+298.6%), from €5,564 to €22,177
mainly Net result for the year (+€50,626) and Other debts (+€39,041)
- Tangible fixed assets -€5,256
down €5,256 (-34.6%), from €15,196 to €9,941
of which Furniture and vehicles: -€5,190
- Other debts +€39,041
up €39,041 (+1561.6%), from €2,500 to €41,541
- Reserves +€14,085
up €14,085 (+10.1%), from €139,274 to €153,360
- Short-term financial debts -€12,782
no longer reported in 2025 (was €12,782)
- Current portion of long-term debt -€4,821
down €4,821 (-76.4%), from €6,308 to €1,488
- Trade debts +€3,867
up €3,867 (+374.4%), from €1,033 to €4,900
- Gross operating margin -€4,959
down €4,959 (-3.8%), from €129,189 to €124,230
- Staff costs +€3,593
up €3,593 (+9.5%), from €37,801 to €41,394
- Financial income +€1,762
up €1,762 (+43.0%), from €4,097 to €5,859
- Taxes -€1,551
down €1,551 (-5.4%), from €28,775 to €27,225
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 | €201,045 | €242,820 | +€41,775 | +20.8% |
| Fixed assets | 21/28 | €18,029 | €12,774 | -€5,256 | -29.2% |
| Tangible fixed assets | 22/27 | €15,196 | €9,941 | -€5,256 | -34.6% |
| Plant, machinery and equipment | 23 | €3,602 | €3,537 | -€65 | -1.8% |
| Furniture and vehicles | 24 | €11,594 | €6,404 | -€5,190 | -44.8% |
| Financial fixed assets | 28 | €2,833 | €2,833 | = | 0.0% |
| Current assets | 29/58 | €183,015 | €230,046 | +€47,031 | +25.7% |
| Stocks and contracts in progress | 3 | €1,612 | €1,007 | -€604 | -37.5% |
| Stocks | 30/36 | €1,612 | €1,007 | -€604 | -37.5% |
| Amounts receivable within one year | 40/41 | €175,586 | €206,862 | +€31,277 | +17.8% |
| Trade receivables | 40 | €41,315 | €73,441 | +€32,126 | +77.8% |
| Other amounts receivable | 41 | €134,271 | €133,422 | -€849 | -0.6% |
| Cash at bank and in hand | 54/58 | €5,564 | €22,177 | +€16,613 | +298.6% |
| Deferred charges and accrued income | 490/1 | €254 | - | -€254 | |
| Total equity and liabilities | 10/49 | €201,045 | €242,820 | +€41,775 | +20.8% |
| Equity | 10/15 | €141,274 | €155,360 | +€14,085 | +10.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €139,274 | €153,360 | +€14,085 | +10.1% |
| Distributable reserves | 133 | €139,274 | €153,360 | +€14,085 | +10.1% |
| Amounts payable | 17/49 | €59,771 | €87,460 | +€27,690 | +46.3% |
| Amounts payable after more than one year | 17 | €1,488 | - | -€1,488 | |
| Financial debts | 170/4 | €1,488 | - | -€1,488 | |
| Amounts payable within one year | 42/48 | €58,283 | €86,961 | +€28,678 | +49.2% |
| Current portion of amounts payable after more than one year | 42 | €6,308 | €1,488 | -€4,821 | -76.4% |
| Financial debts | 43 | €12,782 | - | -€12,782 | |
| Credit institutions | 430/8 | €12,782 | - | -€12,782 | |
| Trade debts | 44 | €1,033 | €4,900 | +€3,867 | +374.4% |
| Suppliers | 440/4 | €1,033 | €4,900 | +€3,867 | +374.4% |
| Taxes, remuneration and social security | 45 | €35,659 | €39,033 | +€3,374 | +9.5% |
| Taxes | 450/3 | €26,102 | €28,127 | +€2,025 | +7.8% |
| Remuneration and social security | 454/9 | €9,557 | €10,906 | +€1,349 | +14.1% |
| Other amounts payable | 47/48 | €2,500 | €41,541 | +€39,041 | +1561.6% |
| Accrued charges and deferred income | 492/3 | - | €499 | +€499 | |
| Remuneration, social security and pensions | 62 | €37,801 | €41,394 | +€3,593 | +9.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,156 | €7,321 | +€165 | +2.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €403 | €604 | +€201 | +50.0% |
| Other operating charges | 640/8 | €2,444 | €2,268 | -€176 | -7.2% |
| Gross operating margin | 9900 | €129,189 | €124,230 | -€4,959 | -3.8% |
| Operating profit (loss) | 9901 | €81,386 | €72,643 | -€8,743 | -10.7% |
| Financial income | 75/76B | €4,097 | €5,859 | +€1,762 | +43.0% |
| Recurring financial income | 75 | €4,097 | €5,859 | +€1,762 | +43.0% |
| Financial charges | 65/66B | €625 | €651 | +€26 | +4.2% |
| Recurring financial charges | 65 | €625 | €651 | +€26 | +4.2% |
| Profit (loss) for the period before taxes | 9903 | €84,858 | €77,851 | -€7,007 | -8.3% |
| Income taxes | 67/77 | €28,775 | €27,225 | -€1,551 | -5.4% |
| Profit (loss) for the period | 9904 | €56,083 | €50,626 | -€5,457 | -9.7% |
| Profit (loss) for the period to be appropriated | 9905 | €56,083 | €50,626 | -€5,457 | -9.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.