Vision': what changed
What changed
Vision'
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
filed annual accounts (NBB)
Net result for the year
-€583,280
2024 · €683,034-€1.3m
Equity
€15.9m
2024 · €16.4m-€583,280
Cash
€74,047
2024 · €111,367-€37,320
Balance sheet total
€40.0m
2024 · €44.8m-€4.8m
Largest movements
Assets
- Stocks and contracts -€4.0m
down €4.0m (-13.9%), from €28.8m to €24.8m
- Tangible fixed assets -€512,179
down €512,179 (-3.3%), from €15.5m to €15.0m
of which Land and buildings: -€509,565
Equity and liabilities
- Other debts -€12.7m
down €12.7m (-70.8%), from €17.9m to €5.2m
- Debts after one year +€10.0m
up €10.0m (+175%), from €5.7m to €15.7m
- Short-term financial debts -€2.7m
down €2.7m (-63.2%), from €4.3m to €1.6m
- Accrued charges and deferred income +€1.2m
up €1.2m (+308%), from €373,992 to €1.5m
- Reserves -€577,700
down €577,700 (-3.5%), from €16.4m to €15.8m
of which Tax-exempt reserves: -€1.9m
Income statement
- Gross operating margin -€697,990
down €697,990 (-28.4%), from €2.5m to €1.8m
- Financial charges +€572,782
up €572,782 (+72.7%), from €787,740 to €1.4m
- Taxes -€229,574
no longer reported in 2025 (was €229,574)
- Other operating charges +€224,805
up €224,805 (+193%), from €116,500 to €341,305
- Staff costs -€27,066
down €27,066 (-18.8%), from €144,294 to €117,228
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€683,034
Gross operating margin
-€697,990
Staff costs
+€27,066
Depreciation
+€6,124
Other operating charges
-€224,805
Other operating items
-€10,200
Financial income
-€23,300
Financial charges
-€572,782
Taxes
+€229,574
Result 2025
-€583,280
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€7.3m
Investment
€0
Financing
+€7.3m
Cash 2024
€111,367
From operations (derived)
-€7.3m
Net result for the year
-€583,280
Depreciation
+€512,179
Stocks and contracts
+€4.0m
Receivables within one year
+€239,044
Trade debts
+€39,771
Tax, wage and social debts
+€4,762
Other debts
-€12.7m
Accrued charges and deferred income
+€1.2m
Financing
+€7.3m
Debts after one year
+€10.0m
Short-term financial debts
-€2.7m
Cash 2025
€74,047
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €44,809,668 | €40,022,114 | -€4.8m | -10.7% |
| Fixed assets | 21/28 | €15,502,539 | €14,990,360 | -€512,179 | -3.3% |
| Tangible fixed assets | 22/27 | €15,502,289 | €14,990,110 | -€512,179 | -3.3% |
| Land and buildings | 22 | €15,497,771 | €14,988,206 | -€509,565 | -3.3% |
| Furniture and vehicles | 24 | €4,517 | €1,904 | -€2,614 | -57.9% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €29,307,129 | €25,031,754 | -€4.3m | -14.6% |
| Stocks and contracts in progress | 3 | €28,805,633 | €24,806,621 | -€4.0m | -13.9% |
| Stocks | 30/36 | €28,805,633 | €24,806,621 | -€4.0m | -13.9% |
| Amounts receivable within one year | 40/41 | €390,130 | €151,086 | -€239,044 | -61.3% |
| Trade receivables | 40 | €19,700 | - | -€19,700 | |
| Other amounts receivable | 41 | €370,430 | €151,086 | -€219,344 | -59.2% |
| Cash at bank and in hand | 54/58 | €111,367 | €74,047 | -€37,320 | -33.5% |
| Total equity and liabilities | 10/49 | €44,809,668 | €40,022,114 | -€4.8m | -10.7% |
| Equity | 10/15 | €16,446,324 | €15,863,044 | -€583,280 | -3.5% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €16,389,750 | €15,812,050 | -€577,700 | -3.5% |
| Tax-exempt reserves | 132 | €3,053,350 | €1,115,650 | -€1.9m | -63.5% |
| Distributable reserves | 133 | €13,336,400 | €14,696,400 | +€1.4m | +10.2% |
| Profit (loss) carried forward | 14 | €6,574 | €994 | -€5,580 | -84.9% |
| Amounts payable | 17/49 | €28,363,344 | €24,159,070 | -€4.2m | -14.8% |
| Amounts payable after more than one year | 17 | €5,727,079 | €15,727,079 | +€10.0m | +175% |
| Other amounts payable | 178/9 | €5,727,079 | €15,727,079 | +€10.0m | +175% |
| Amounts payable within one year | 42/48 | €22,262,273 | €6,907,260 | -€15.4m | -69.0% |
| Financial debts | 43 | €4,342,000 | €1,600,000 | -€2.7m | -63.2% |
| Credit institutions | 430/8 | €4,342,000 | €1,600,000 | -€2.7m | -63.2% |
| Trade debts | 44 | €44,748 | €84,518 | +€39,771 | +88.9% |
| Suppliers | 440/4 | €44,748 | €84,518 | +€39,771 | +88.9% |
| Taxes, remuneration and social security | 45 | €3,282 | €8,044 | +€4,762 | +145% |
| Taxes | 450/3 | €3,282 | €2,309 | -€973 | -29.6% |
| Remuneration and social security | 454/9 | - | €5,735 | +€5,735 | |
| Other amounts payable | 47/48 | €17,872,244 | €5,214,698 | -€12.7m | -70.8% |
| Accrued charges and deferred income | 492/3 | €373,992 | €1,524,731 | +€1.2m | +308% |
| Remuneration, social security and pensions | 62 | €144,294 | €117,228 | -€27,066 | -18.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €518,303 | €512,179 | -€6,124 | -1.2% |
| Other operating charges | 640/8 | €116,500 | €341,305 | +€224,805 | +193% |
| Non-recurring operating charges | 66A | - | €10,200 | +€10,200 | |
| Gross operating margin | 9900 | €2,456,143 | €1,758,153 | -€697,990 | -28.4% |
| Operating profit (loss) | 9901 | €1,677,046 | €777,241 | -€899,805 | -53.7% |
| Financial income | 75/76B | €23,301 | €1 | -€23,300 | -100.0% |
| Recurring financial income | 75 | €23,301 | €1 | -€23,300 | -100.0% |
| Financial charges | 65/66B | €787,740 | €1,360,521 | +€572,782 | +72.7% |
| Recurring financial charges | 65 | €787,740 | €1,360,521 | +€572,782 | +72.7% |
| Profit (loss) for the period before taxes | 9903 | €912,607 | -€583,280 | -€1.5m | |
| Income taxes | 67/77 | €229,574 | - | -€229,574 | |
| Profit (loss) for the period | 9904 | €683,034 | -€583,280 | -€1.3m | |
| Transfer from tax-exempt reserves | 789 | - | €1,937,700 | +€1.9m | |
| Profit (loss) for the period to be appropriated | 9905 | €683,034 | €1,354,420 | +€671,386 | +98.3% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.