VISION + OVL: what changed
VISION + OVL
Largest movements
- Stocks and contracts -€11,153
down €11,153 (-17.5%), from €63,855 to €52,702
- Deferred charges and accrued income +€6,190
up €6,190 (+766%), from €808 to €6,998
- Receivables within one year -€4,302
down €4,302 (-19.8%), from €21,765 to €17,463
of which Other amounts receivable: -€6,068
- Cash -€1,771
down €1,771 (-18.2%), from €9,708 to €7,937
mainly Trade debts (-€33,537) and Debts after one year (-€10,785)
- Tangible fixed assets -€1,082
down €1,082 (-85.2%), from €1,270 to €188
- Trade debts -€33,537
down €33,537 (-55.0%), from €60,955 to €27,418
- Profit (loss) carried forward +€15,524
up €15,524 (+11.1%), from -€140,090 to -€124,566
- Other debts +€11,370
up €11,370 (+9.3%), from €122,634 to €134,004
- Debts after one year -€10,785
down €10,785 (-74.8%), from €14,425 to €3,640
- Tax, wage and social debts +€5,088
up €5,088 (+66.1%), from €7,700 to €12,788
of which Remuneration and social security: +€4,503
- Gross operating margin -€11,437
down €11,437 (-16.8%), from €68,100 to €56,663
- Staff costs -€8,622
down €8,622 (-18.0%), from €47,872 to €39,250
- Financial income +€1,164
up €1,164 (+1,143%), from €102 to €1,266
- Depreciation -€874
down €874 (-44.7%), from €1,956 to €1,082
- Financial charges -€761
down €761 (-45.8%), from €1,659 to €899
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €97,586 | €85,467 | -€12,119 | -12.4% |
| Fixed assets | 21/28 | €1,450 | €368 | -€1,082 | -74.6% |
| Tangible fixed assets | 22/27 | €1,270 | €188 | -€1,082 | -85.2% |
| Plant, machinery and equipment | 23 | €1,270 | €188 | -€1,082 | -85.2% |
| Financial fixed assets | 28 | €180 | €180 | = | 0.0% |
| Current assets | 29/58 | €96,136 | €85,099 | -€11,037 | -11.5% |
| Stocks and contracts in progress | 3 | €63,855 | €52,702 | -€11,153 | -17.5% |
| Stocks | 30/36 | €63,855 | €52,702 | -€11,153 | -17.5% |
| Amounts receivable within one year | 40/41 | €21,765 | €17,463 | -€4,302 | -19.8% |
| Trade receivables | 40 | €14,899 | €16,665 | +€1,766 | +11.9% |
| Other amounts receivable | 41 | €6,866 | €798 | -€6,068 | -88.4% |
| Cash at bank and in hand | 54/58 | €9,708 | €7,937 | -€1,771 | -18.2% |
| Deferred charges and accrued income | 490/1 | €808 | €6,998 | +€6,190 | +766% |
| Total equity and liabilities | 10/49 | €97,586 | €85,467 | -€12,119 | -12.4% |
| Equity | 10/15 | -€119,630 | -€104,106 | +€15,524 | +13.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€140,090 | -€124,566 | +€15,524 | +11.1% |
| Amounts payable | 17/49 | €217,216 | €189,574 | -€27,642 | -12.7% |
| Amounts payable after more than one year | 17 | €14,425 | €3,640 | -€10,785 | -74.8% |
| Financial debts | 170/4 | €14,425 | €3,640 | -€10,785 | -74.8% |
| Amounts payable within one year | 42/48 | €201,877 | €184,996 | -€16,881 | -8.4% |
| Current portion of amounts payable after more than one year | 42 | €10,588 | €10,785 | +€198 | +1.9% |
| Trade debts | 44 | €60,955 | €27,418 | -€33,537 | -55.0% |
| Suppliers | 440/4 | €60,955 | €27,418 | -€33,537 | -55.0% |
| Taxes, remuneration and social security | 45 | €7,700 | €12,788 | +€5,088 | +66.1% |
| Taxes | 450/3 | €2,507 | €3,092 | +€585 | +23.3% |
| Remuneration and social security | 454/9 | €5,193 | €9,696 | +€4,503 | +86.7% |
| Other amounts payable | 47/48 | €122,634 | €134,004 | +€11,370 | +9.3% |
| Accrued charges and deferred income | 492/3 | €913 | €938 | +€24 | +2.7% |
| Non-recurring operating income | 76A | - | €1,500 | +€1,500 | |
| Remuneration, social security and pensions | 62 | €47,872 | €39,250 | -€8,622 | -18.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,956 | €1,082 | -€874 | -44.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €718 | €1,061 | +€343 | +47.8% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €68,100 | €56,663 | -€11,437 | -16.8% |
| Operating profit (loss) | 9901 | €17,554 | €15,270 | -€2,284 | -13.0% |
| Financial income | 75/76B | €102 | €1,266 | +€1,164 | +1,143% |
| Recurring financial income | 75 | €102 | €1,266 | +€1,164 | +1,143% |
| Financial charges | 65/66B | €1,659 | €899 | -€761 | -45.8% |
| Recurring financial charges | 65 | €1,659 | €899 | -€761 | -45.8% |
| Profit (loss) for the period before taxes | 9903 | €15,996 | €15,637 | -€359 | -2.2% |
| Income taxes | 67/77 | €144 | €114 | -€30 | -21.2% |
| Profit (loss) for the period | 9904 | €15,852 | €15,524 | -€329 | -2.1% |
| Profit (loss) for the period to be appropriated | 9905 | €15,852 | €15,524 | -€329 | -2.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.